Crypto Currency News

Five Bitcoin, Blockchain, and DeFi News – March 27

INA gives you a summary of the world crypto ecosystem in five news.

The s weekly average active entries in all the major suppliers of investment in digital assets decreased by 70.5% since February to USD 149.6 million, according to Crypto Compare. Meanwhile, since the end of February, total assets under management across all digital asset investment products have risen 8.76% to $ 58.7 billion.

The developers and the Bitcoin community appear to have finally agreed on a timeline for activating Taproot, a proposed protocol update that should improve privacy and flexibility, and its biggest update since SegWit in 2017. The code could be ready for users. Activate it on the Bitcoin Core client via “Speedy Trial” in May of this year. If the Speedy Trial is successful, it would mean that the update could be online in November.

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SIAE, the Italian copyright collection agency, chose the Algorand (ALGO) platform to create 4 million non-fungible tokens (NFTs) that will digitally represent the rights of the more than 100,000 authors associated with SIAE. The NFTs will be used to improve the management of rights of authors registered with SIAE and create an open infrastructure that protects copyright worldwide.

The Indian government is modifying current legislation to require companies to disclose crypto asset holdings in their financial statements. According to an announcement by the Ministry of Corporate Affairs of the Government of India, the new rules will apply from April 1 to all Indian companies that have traded or invested in crypto assets during the financial year. These would have to detail your crypto gains or losses.

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The McLaren Formula 1 team announced that they have established a new long-term partnership with the Turkish platform Bitci, and they will jointly launch a crypto asset. In an official statement, the manufacturer added that the Bitci brand would be “represented” on its McLaren MCL35M race cars and on the helmets of its current F1 drivers, Lando Norris and Daniel Ricciardo.

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