Fintech Daily Briefing

Fintech Daily Information Briefing on [May 12, 2021]

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The following is the Fintech Daily Information Briefing on [May 12, 2021] recommended by recordtrend.com. And this article belongs to the classification: Fintech Daily Briefing.

[1]. Wechsler dictionary added NFT definition, and will auction animation NFT in opensea

Merriam Webster, an authoritative dictionary publisher in the United States, has added the definition of NFT to Wechsler’s dictionary and will auction its animated NFT this week. In the dictionary, NFT is defined as “a unique digital identifier recorded in the blockchain that cannot be copied, replaced or subdivided to prove authenticity and ownership (specific digital assets and specific rights related to them)” The auction will be held in opensea, the NFT market. Bidding will start at 9:30 EST on May 11 (21:30 Beijing time) and end at 23:59 EST on May 14 (11:59 Beijing time). The proceeds will be donated to teach for all, a network of organizations from 60 countries designed to address educational inequality around the world.

[2]. The Economist: govcoins will change the financial industry

Recently, the Economist magazine published a special article on the impact of govcoins on the financial industry. The article points out that technological change is changing the financial industry on a large scale. At the time of the 2008-2009 economic crisis, Paul Volcker, former chairman of the Federal Reserve, believes that the latest breakthrough innovation of banks is ATM. However, in the following ten years, banks, financial institutions and large-scale science and technology enterprises continue to carry out technological innovation to promote the expansion of financial service channels and the improvement of financial service efficiency. The article thinks that the government digital currency will become the next important content of the development of the financial industry. This kind of digital currency can not only help reduce the operating expenditure of the financial industry, but also expand the coverage of financial services and maintain the stability of the financial market. The government and financial institutions need to prepare for the long-term reform of the financial industry, including amending the privacy regulation, reforming the central bank operation mechanism and so on.

[3]. Australia’s Senate Committee on finance and Technology issued a proposal report, involving visa, tax and other policies

According to local media reports, Australia’s Senate financial technology committee recently submitted its second industry survey report. The report puts forward 23 policy recommendations, including industry tax incentives, vigorously promoting international open banking and data sharing standards, increasing the supervision of large technology enterprises in data and privacy, and implementing talent visa program. In October 2021, the committee will submit the final industry review report and put forward more development suggestions.

[4]. Indian e-commerce giant flipkart plans to raise $1 billion before IPO

Recently, according to local media reports, India’s e-commerce giant plans to IPO in the last quarter of 2021. At present, flipkart is negotiating with a number of investors, hoping to raise another $1 billion before the IPO, pushing the platform valuation to $3 billion. It is reported that the US $1 billion will be mainly used for market expansion to improve competitiveness with other platforms. Previously, 36 krypton went out to sea, citing a report from techcunch, saying that flipkart had said on Friday night that it would exempt sellers using the flipkart logistics center from storage fees and cancel fees before the end of the month. Flipkart will cover 100% of the cost of epidemic insurance for all sellers trading on the platform. Just a week ago, flipkart announced that it would exempt sellers from the 50% commission they would pay to flipkart this month, although not all sellers would be eligible for the benefit.

[5]. Indonesia is considering taxing cryptocurrency transactions, and the plan is still under discussion

Indonesia is considering plans to tax cryptocurrency transactions because of the surge in the popularity of cryptocurrency among local investors, a tax official said on Tuesday, Reuters reported. If the transaction generates profits or capital gains, then these profits are the object of income tax. As a result, taxpayers who receive capital gains must pay taxes and report them.

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