MakerDAO co-founder Nikolai Mushegian dies at 29 in Puerto Rico
Mushegian was an important figure in the crypto community, contributing to multiple projects, including MakerDAO, BitShares and Balancer. Nikolai Mushegian, a co-founder of the cryptocurrency lending platform MakerDAO and the decentralized Dai (DAI) stablecoin, was found dead in Puerto Rico last week.Mushegian died due to drowning after being dragged by sea currents on the Condado beach in San Juan, the local newspaper El Nuevo Día reported. Mushegian had no vital signs by the time his body was rescued.The Condado beach is considered one of the world’s most dangerous places for swimmers,....
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Nikolai Mushegian is the CEO of DappHub and a well-known security researcher. He saved MakerDAO from the same fate as TheDAO and will be reviewing ChronoBank’s smart contracts code. To ensure maximum safety of TIME token holders we decided to make multiple security audits by the best security researchers in the world. Nikolai Mushegian is the CEO of DappHub and a well-known security researcher. He saved MakerDAO from the same fate as TheDAO and will be reviewing ChronoBank’s smart contracts code. He will make a security audit of TIME and LH tokens to ensure that smart contracts are safe....
Puerto Rico has recently used legislation to force capital controls. The country has imposed a 2% fee on any money transmission, forcing Paypal's to pull out of the country. Following an attempt to start capital controls, Puerto Rico government passed a law that forces all peer-to-peer transactions to be taxable at a 2% rate. With this move the country's government is looking to extract any additional sources of income from Puerto Rican citizens. This was the main reason leading the international online financial institution, PayPal to abandon the country. With the new imposed fees PayPal....
Crypto capital is moving to Puerto Rico as tax regulations are much more favorable than in the U.S. proper. The United States territory of Puerto Rico is seeing a resurgence of interest among crypto investors attracted by the fact it doesn’t charge federal income tax and eligible investors can pay zero taxes on their crypto gains.Under local law Act 22, those who live in Puerto Rico for at least half of the year are exempt from taxes on interest, dividends and capital gains — meaning they can keep most or all of the profits from crypto or other investments without having to renounce U.S.....
To mitigate austerity and resolve debt, Puerto Rico should follow in El Salvador’s footsteps and make bitcoin legal tender.
Working out a repayment plan should be the top priority for the Puerto Rican government, but that will not be the case for the foreseeable future. Puerto Rico is not often mentioned in a positive content when it comes to the financial sector. Neither is this story, unfortunately, as the country decided to default on its debt. But at the same time, the reason for doing so makes a lot of sense. All of this is still somewhat good news to push Bitcoin adoption in the country to new heights, though. Defaulting on debt is never a good thing, particularly not for a region so deeply indebted as....