Alchemy Pay expands on-ramp services via Bitcoin.com

Study Places Hong Kong as Leader in Crypto ReadinessHong Kong, according to a recent study conducted by Forex Suggest, has emerged as the leading jurisdiction worldwide in terms of its readiness for cryptocurrencies. The study evaluated various factors such as the number of blockchain startups per 100,000 people and the density of crypto ATMs in relation to the population.Photo by Traxer on UnsplashZero capital gains taxThe attractiveness of Hong Kong for investors in the crypto space stems from its advantageous tax policies. The study noted that Hong Kong does not levy capital gains taxes on cryptocurrency, making it an appealing destination for crypto enthusiasts. The United States and Switzerland secured the second and third positions, respectively, in the rankings of the most crypto-ready countries.In recent times, Hong Kong has actively embraced investments from digital asset companies and is poised to implement new regulations for the industry. Effective from June 1, the city’s new rules aim to establish Hong Kong as a global hub for digital assets. These regulations permit licensed cryptocurrency trading platforms to offer services to retail investors while incorporating measures to safeguard individual traders.Global crypto firms are gearing up for that new licensing approach, carving out separate corporate entities in order to meet the regulatory requirements which the Hong Kong regulator, the Securities Futures Commission (SFC), has set. Another Hong Kong regulator, the Hong Kong Monetary Authority (HKMA), is also opening up to embrace digital asset innovation through a pilot project implicating the tokenization of real world assets.Regarding the number of blockchain startups, Hong Kong boasts three startups per 100,000 individuals, securing the second position globally. Topping the list is Switzerland, with an impressive count of 12.9 blockchain startups per 100,000 residents, amounting to a total of 1,128.The study also highlighted that countries such as Hong Kong, Switzerland, Panama, Portugal, Germany, Malaysia, and Turkey impose the lowest taxes on cryptocurrencies. These nations exempt individuals from capital gains taxes on profits derived from cryptocurrency trading.Crypto ATM proliferationWhen considering the prevalence of crypto ATMs, Hong Kong ranks third globally, with two ATMs per 100,000 people, totaling 149 ATMs. The United States takes the top spot with nearly 34,000 crypto ATMs, but when normalized to the population, it has 10.1 ATMs per 100,000 individuals.Regressive measures in USIn contrast to Hong Kong’s favorable environment, regulators in the United States have intensified their efforts to tighten regulations on cryptocurrency exchanges, leading many within the industry to advocate for clearer guidelines. Consequently, several exchanges are exploring jurisdictions that offer more favorable conditions.Forex Suggest emphasized that the report’s findings were based on extensive data analysis, taking into account factors such as tax regulations, legislation, the presence of blockchain startups, and the level of interest in cryptocurrencies. Each jurisdiction received a normalized score out of 10 for each factor, and the overall rankings were determined by averaging these scores.Hong Kong’s position as the most crypto-ready jurisdiction in the world showcases its commitment to fostering innovation and becoming a global leader in the digital asset space. With its advantageous tax policies, growing number of blockchain startups, and forthcoming regulations, the autonomous Chinese territory is solidifying its position as an attractive destination for businesses and investors in the cryptocurrency space.

Starbucks Korea implements NFT initiative to boost sustainability effortsStarbucks Korea is set to take on several eco-friendly initiatives in the new year to promote the use of personal reusable cups, including an NFT wallet and a new tumbler coupon policy, according to local news outlet Newsis on Thursday (KST).Photo by Battlecreek Coffee Roasters on UnsplashNFTs and eco-friendly effortsIn a newfound development, the brand also said that it would start issuing NFTs through a new NFT wallet on its mobile app next month as part of its eco-friendly consumption campaign. Until now, NFTs have been widely utilized in fields like art, music and entertainment due to their ability to prove individual ownership of digital assets. Starbucks’ adoption of the technology is a significant step in its implementation into daily life, which will lead to an increase in the number of real-world use cases and an acceleration in the transition to the era of Web3.To celebrate the launch of the NFT wallet, Starbucks plans to hold a promotional event where customers who use a reusable cup for one beverage ordered via the Siren Order function will receive one Eco Stamp. Up to three stamps can be collected per day. These can be exchanged for various types of NFTs, which are categorized as Basic, Creative and Artist, and each customer can only own one.Starbucks’ NFTs will be minted in collaboration with Seoul-based art platform and gallery Print Bakery (PBG) and PBG exclusive artist DADAZ, featuring images of unique cups, tumblers and more.The franchise plans to hold an offline exhibition to showcase images of the NFTs as well as its achievements in corporate sustainability at the Starbucks Jongno R store located in Jongno-gu, central Seoul, early next month.Sustainable sipsThe coffee franchise is also known for offering a complimentary beverage voucher to customers who purchase a reusable cup or tumbler. Next month, this voucher will be renamed the Eco Tumbler Beverage Coupon, which customers can exchange for a tall-sized beverage of their choice. This policy is aimed at encouraging the use of personal cups and providing tailored benefits to customers who embrace sustainable options.This new introduction was partially driven by the steady increase in the number of personal cups used at Starbucks stores around the country over the past three years. The annual number of cases has risen from 17.39 million in 2020 to 21.9 million in 2021, then 25.3 million last year.This figure has spiked significantly this year in particular, with the cumulative yearly number reaching 26.7 million last month, surpassing last year’s total. If this trend continues until the end of the year, the estimated figure is expected to be around 29.6 million, representing a 17% increase compared to 2022.This upward trend is attributed to the immediate KRW 400 discount offered to customers who participate, as well as an alternative benefit where customers can earn one “Star”, or reward point, for each purchase that they make. Until last month, the total value of benefits that were distributed via these two systems — with one Star valued at KRW 500 — exceeded KRW 12 billion. The ratio of immediate discount and Star rewards in this value stands at 30% and 70%, respectively.Green commitmentStarbucks also plans to continue its No Single-Use Cup Day campaign, a collaboration with the Korea Zero Waste Movement Network that has been ongoing for the past five years. The brand dedicates the tenth of every month as a day without single-use disposable cups, giving out merchandise like mugs, tumblers, coffee ground planting kits and stickers. Since last year, various events have been organized to celebrate the day, such as coupons gifted to customers who use reusable cups the most. Approximately one million people have participated in these promotions since the campaign’s inception in 2018.Starbucks expressed its hopes that these initiatives would act as a catalyst for positive changes in local communities by encouraging the reduction of waste.

South Korea’s second-largest cryptocurrency exchange Bithumb held a ceremony on Monday at the Bithumb Customer Center in Seoul to celebrate the commencement of the exchange’s supporter group, Thumbs Up, according to an article published by local news site Digital Daily on Tuesday (KST). The group consists of 20 university students interested in crypto and crypto exchanges who were recruited after a two-week application period starting on Dec. 13.Photo by charlesdeluvio on UnsplashPushing towards advancements in crypto"The open-mindedness and unconventional outlook of Bithumb's college student supporters will have a positive impact on Bithumb and the blockchain industry," said Kim Young-jin, Head of Business Support at Bithumb. "We look forward to the Thumbs Up supporters and Bithumb working together to create great projects." Cultivating young innovative mindsThe supporters will have a total of three months until the deadline on April 29 to propose ideas for improving Bithumb and create social media content related to the exchange's services and companies. Bithumb stated that it would award prizes of KRW 5 million and KRW 2 million to one team and five individuals, respectively, based on their dedication and performance. The winners will also get the opportunity to become interns or official Bithumb ambassadors.