IRS Updates Guidelines To Explicitly Include NFTs – October 19


πŸ“ˆ 30 Second Cryptocurrency Price Summary

Current Bitcoin Price:Β $19,184

Bitcoin price has been slowly regressing towards the $19,000 level over the last 24 hours of trading, as it remains in a tight range from the last month.

Top-20 altcoins have had mixed performance, as Ethereum falls 1%, BNB remains almost unchanged and Uniswap rallies 7% over the last 24 hours.

Top Stories for October 19, 2022 πŸ”₯

πŸ‘‰ IRS Updates Guidelines To Explicitly Include NFTs

The US Internal Revenue Service (IRS) has updated its guidelines, explicitly including NFTs under digital assets to be taxed the same as other crypto tokens.

The agency appears to also have worded the document in a careful way to cover any new classes of tokens or assets that “has the characteristics of a digital asset.”

Taxpayers who have disposed of any digital asset in 2022 will need to pay capital gains tax on the transaction.

πŸ‘‰ Aptos Airdrops 20.1 Million Tokens To Early Testers

Aptos, the spin-off of Facebook’s abandoned Libra blockchain, has airdropped 20.1 million APT tokens to the early users of its test network – with almost 110,000 addresses eligible.

The airdrop represents 2% of the total initial supply, which is 1 billion APT. At current prices, the blockchain network has a circulating market cap of just over $1 billion, and a fully-diluted market cap of $7.8 billion.

πŸ‘‰ Brazil’s Largest Digital Bank To Launch Its Own Token

Brazil’s largest digital bank, Nubank, is planning to release its own token next year in multiple countries.

“Nucoin” will be built on Polygon and made available to the bank’s user base of 70 million – including customers in Brazil, Mexico and Colombia. The token will be used to offer discounts and benefits to customers.