Crypto Land

Crypto Adoption in 2022: What to Expect?
The crypto market is having a strong end to 2021, with various cryptoassets -- including bitcoin (BTC) -- hitting new all-time highs. The question is: will we continue seeing increasing adoption of cryptocurrencies among investors, institutions, and even governments next year?
For most analysts and observers, 2022 will indeed be yet another year of increasing adoption of cryptocurrency, both in terms of its potential as an investment vehicle and inflation hedge, and also in terms of its utility for payments.
Of course, 2022 will not all be plain sailing for cryptocurrency when it comes to adoption, with governmental rejection of crypto remaining just as (if not more) likely in some nations as adoption. That said, with the market showing renewed signs of bullishness as we write this, it’s likely that the overall trend will be towards more adoption rather than less.
2021: How accurate were predictions last year?
Back in 2020, industry players predicted that bitcoin would see increasing investment interest from institutions in particular. This is indeed what happened, with the current bull market being largely driven by institutional investors.
They predicted the growth in Ethereum (ETH) and decentralized finance (DeFi), with the latter (in terms of total value locked in) growing, per DefiLlama data, from around USD 21bn at the start of the year to USD 241bn, as of writing. Likewise, Ethereum accounts for 67% of this value, indicating just how pivotal it has become.
One other thing the commenters predicted in our previous year’s ‘adoption trends’ article was the growth in interoperability platforms and protocols, something which would allow chains to pool resources and value. This was particularly true with regards to the launch of the various cross-chain bridges we saw during this year, such as Wormhole, Avalanche Bridge, and Harmony.

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2021-11-21 20:00:46

Argentina U-Turns On Crypto Tax With New Regulation.
In an abrupt U-turn on an earlier stance adopted by the country’s authorities, the Argentinian government has released a decree that imposes a tax on credits and debts on transactions involving cryptoassets. The regulation was published on November 17, and the measures entered into force on the same day.
“The exemptions provided for in this decree and in other regulations of a similar nature will not be applicable in those cases in which the movements of funds are linked to the purchase, sale, exchange, intermediation and/or any other operation on cryptoassets, cryptocurrencies, digital coins, or similar instruments, in the terms defined by the applicable regulations," the Argentinian cabinet said in the decree, as reported by local paper Buenos Aires Times.
Crypto transactions were previously exempt from the levy which, under Argentinian law, is called the tax on credits and debits in bank accounts and other transactions. Such transactions were treated as if they were cash transfers, according to Sebastián Domínguez from local tax consultancy SDC Asesores Tributarios.
The tax is levied at rates of up to 0.6%.
The latest development imposes yet another levy on Argentinian crypto users. In 2017, a reform of the country’s tax code extended the income tax to capital gains earned from transactions that involve cryptoassets.
Earlier this month, it was reported that a number of companies were eyeing Latin America – and countries like Argentina and Paraguay in particular – amid their search to create new bases for bitcoin (BTC) and altcoin mining operations.
Data released by the University of Cambridge indicates that Argentina accounted for just 0.05% of the global bitcoin hashrate last August. It is yet to be seen whether the government’s revised tax policy will have a negative impact on the country’s appeal to crypto industry players.

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2021-11-18 20:00:36

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