Portugal Parliament Rejects Crypto Tax, Elvis Enters The Metaverse, Elon Musk Deepfake Crypto Scam

Written by Lindi Miti

May 27, 2022

Portugal Parliament Rejects Crypto Tax

On Wednesday, the Portugal parliament rejected the bill proposals for taxing cryptocurrencies. The parliament had been debating and voting on the 2022 State Budget. The cryptocurrency tax bills were proposed by two minority parties, the Livre and Bloco. 

The ruling party, Social Party, has not submitted any bills regarding cryptocurrencies. However, last week the finance minister said that cryptocurrencies would be subject to taxation soon. “Many countries already have systems, many countries are building their models in relation to this subject, and we will build our own,” said Fernando Medina, the Portuguese Minister of Finance.     

Until now, Portugal has been considered a cryptocurrency tax haven. Since 2018, the country has not imposed taxes on cryptocurrency capital gains and does not consider the trading of digital assets as investment income. 

Elvis Enters The Metaverse

The Sandbox, a virtual gaming platform, launched the King of Rock n Roll, Elvis Presley, into the Metaverse. Sandbox partnered up with Elvis Presley Enterprises, Decentraland, Voxel Enterprises, amongst others, to bring the Elvis on Chain project to life. 

Elvis on Chain aims to be a one-of-a-kind meeting place for Elvis fans. “The Elvis-inspired metaverse will host an array of ground-breaking experiences, generative collections, a showcase of rare concerts, fan experiences, and real events,” said Sébastien Borget, COO and co-founder of The Sandbox.

To celebrate the year of Elvis Presley’s birthday, Elvis on Chain will mint 1935 Elvis Genesis Key NFTs. The NFTs will be an all-access pass to the Elvis-On-Chain Metaverse, which will launch on June 1.

Elon Musk Deepfake Crypto Scam

A deep-fake, or AI-generated, video of Elon Musk promoting a phony investment project went viral on Thursday. BitVex, a fake trading platform, produced the video. It features Musk telling people to invest in a project that returns 30% dividends every day.

The Tesla CEO and billionaire took to Twitter to warn people that it was not him. “Yikes. Def not me,” he wrote.

Written by Lindi Miti © Crypto University 2022

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