Portuguese Congress Rejects Two Bills Aimed At Taxing Cryptos, Bitcoin Falls

The Assembleia da Repblica, Portugal's Congress, rejected two pieces of legislation attempting to tax cryptocurrencies, on Wednesday. The legislation was introduced by Livre and Bloco, two left-wing parties with limited presence in the Portuguese Congress, according to local news outlet Sapo.

Elsewhere, CoinDCX, a cryptocurrency exchange, announced the debut of its new crypto yield program, "Earn," on Thursday, a new option for its users to put their crypto to work and earn income on their idle crypto assets.

The 'Earn' function, according to the firm, is now one of the most competitive goods in the industry. Aside from industry-leading rates, CoinDCX's 'Earn' feature provides users with complete flexibility and control over their crypto assets, with no lock-in periods and withdrawals available at any time.

 "When users opt in to ‘Earn’ with CoinDCX, It works with large institutional borrowers, third party lending partners, and staking platforms to generate yield on their crypto/digital assets," CoinDCX said in a statement. 

"Today’s launch is a testament to the hard work our team has put in to deliver innovative products and solutions for our community. With digital assets becoming increasingly mainstream, we’re excited to be able to provide a trusted and accessible way for individuals to earn yield in crypto on their crypto holdings while continuing to keep exposure to the nascent asset class," says Sumit Gupta, CEO and Co-Founder, CoinDCX.

Crypto Prices

The price of Bitcoin in the cryptocurrency market fell by 1.62 per cent in the last 24 hours, and it was trading at $29,082.17 at 5:00 pm IST. According to Coinmarketcap.com, its dominance in the crypto market is currently at 45.52 per cent, up by 0.76 per cent in the last 24 hours.

In the last 24 hours, Ethereum (ETH) was trading at $1,816.16, down by 6.95 per cent, while Binance Coin (BNB) decreased by 4.70 per cent during the same time period, and was trading at $310.35. Solana (SOL) was down by 9.31 per cent to $43.53, while Cardano (ADA) was down by 4.95 per cent to $0.4847. 

Meme Coins

Dogecoin was trading at $0.07778 on Coinmarketcap.com at 5:00 p.m. IST and was down by 5.68 per cent. Its rival, Shiba Inu, was down by 5.80 per cent, and was trading at $0.00001089. Samoyedcoin was down by 3.32 per cent, and it was trading at $0.00557, while Dogelon Mars was down by 6.62 per cent, and it was trading at $0.0000004491.

Overall Scenario

According to Coinmarketcap.com, the global crypto market cap was at $1.21 trillion, a decrease of 3.86 per cent in the last 24 hours, while the total crypto market volume was $80.40 billion, an increase of 8.22 per cent.

Pixel Swap (PIXEL) was the biggest gainer, gaining 303.65 per cent. It was trading at $0.01262 at 5:00 pm IST, according to Coinmarketcap. In contrast, TrusterCoin(TSC) witnessed the maximum loss and fell by 99.95 per cent. It was trading at $0.000003289.