🏠 Home Sales up in October 2021 on a Year-on-Year Basis 

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Home Sales up in October 2021 on a Year-on-Year Basis

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The National Association of Realtors recently reported that in October 2021, home sales were up by 0.8%, compared to October 2020.

In terms of numbers, the sale of previously owned homes stood at a seasonally adjusted annualized rate of 6.34 million by October this year.

When comparing the number of homes available for sale after October 2021 with the numbers after October 2020, the figures were lower this year than the previous year.

After October 2021, 1.25 million homes were still available for sale, which is 12% lower than the number of homes available for sale after October last year.

Realtors are really optimistic about sales this year, as they believe the sales this year would cross 6 million, which, if achieved, will be the highest sales figures recorded since 2006.

No Default Rollout of End-to-End Encryption to Facebook & Instagram by 2023

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Guardian recently reported that Meta won’t extend end-to-end encryption to Facebook messenger & Instagram by 2023.

It’s not as if the end-to-end encryption is not available on Facebook messenger & Instagram. It’s just that this feature is not activated by default.

As for the reason behind Meta’s decision to not activate the end-to-end encryption by default on Facebook messenger & Instagram, this decision was taken because of concerns around user safety.

End-to-end encryption means that only the sender and receiver will be able to see their messages and no one else. Among Meta’s platforms, only Whatsapp currently supports default end-to-end encryption.

Russian Federal Taxation Service (FTS) Chief Believes Crypto can Reduce Country’s Tax Base

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Daniil Egorov, the head of the Russian Federal Taxation Service (FTS), said that they are keeping tabs on the crypto market in the country to monitor any incidents involving tax evasion.

While being interviewed by a local media outlet, the FTS chief said that crypto could cause “significant erosion” in the Russian tax base.

He further expanded, saying that the crypto transactions can be tracked, and the FTS is ready to deploy an automated crypto transaction monitoring mechanism to keep track of a large volume of transactions.

In February this year, the state Duma, the Federal Assembly of Russia’s lower house, approved a bill that made it mandatory for Russian citizens to report crypto transactions if it exceeds $7800 in a financial year.

Fonoa Secures $20.5M Funding to Make Tax Compliance Easier for Digital Businesses

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With the COVID pandemic causing strict lockdowns worldwide, we saw a rise in the number of digital-first businesses. These digital businesses have multiple pain points that need to be tackled, which include tax collection.

The two years old startup Fonoa aims to solve tax-related pain points for digital businesses with its APIs. The startup was founded by Davor Tremac, Filip Sturman, and Ivan Ivankovicz, all of whom were working with Uber previously.

There has been over 300 million transactions on Fonoa’s platform last year. To expand even further, the tax compliance startup has raised $20.5 million Series A funding.

Its Series A funding round was led by OMERS Ventures. Other companies to participate in this round were FJ Labs, Moving Capital, and Index Ventures.

Around the Web

☁️ Render Nabs $20M Series A funding to gain market share in DevOps cloud market: The San Francisco-based DevOps cloud platform provider raised $20 million in Series A funding round. Render will use the funds to triple its headcount and compete against the holy trinity of the cloud market: “Amazon Web Services, Microsoft Azure, and Google Cloud.”

🌙 Moonpay Raises $555M at a Valuation of $3.4B: 2021 has been a record year for crypto startups, as the funding in the crypto space is already up by 384% so far in 2021 compared to 2020. The recent crypto startup to raise funding is the Miami-based Moonpay, which allows its users to buy crypto using traditional payments options.


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