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The private investment platform raising $700M for crypto funds

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Virtual Bitcoin cryptocurrency financial market graph

A private investment platform is reportedly raising 700 million dollars for two new crypto-focused funds

Republic’s nearly 1 billion dollar venture arm will include a 200 million flagship venture fund and 500 million towards a crypto fund.

20 per cent of the venture fund’s capital will be used for investments in cryptocurrency tokens while the remainder will be dedicated to equity investments in web-3, fintech and deeptech.

Republic Capital was established at the start of 2019 and since then, has invested in over 100 companies.

A big focus has been on crypto, investing in blockchain company Flipside.

The company’s CEO has also announced plans to develop a secondary marketplace for digital securities with a focus on compliance.

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This move is set to boost Australia’s crypto gains

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Coinbase is coming down under, in a major boost for the country’s crypto gains

The crypto platform is calling the country “a priority market”.

It will add its local payments platform so Australians can transfer dollars into their Coinbase account.

There will also be advanced trading tools and better pricing.

Users will also receive 24 hour support, where they can ask all about their accounts and concerns.

The exchange is registered with a local regulator to provide its digital currency exchange services.

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Europe cracks down on crypto tax

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In a major development, the European Parliament has voted in favour of a coordinated and fair tax system for crypto-currencies

Around 80 per cent of lawmakers voted to start using blockchain tech to create a more robust way of stopping tax evasion

Only seven voted against the resolution, with 47 absent for the vote.

Europe has had crypto reform high on its agenda.

Lawmakers want crypto-users to be subjected to a fair and transparent taxing system.

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Government-backed crypto could threaten the U.S. economy, report finds

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Government-backed cryptocurrencies could threaten the U.S. economy, that’s according to a new report

The Treasury Department believe that prices crypto are set by market speculation and don’t have much economic reality.

It’s found crypto-asset firms intersect with entities that have risky business profiles.

Treasury believes this is a concern for the U-S financial system.

Of course, Bitcoin is just one digital coin to swing and los much of its value since the start of this year.

But advocates think these stable-coins could be less volatile than traditional currencies.

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