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  1. In the U.S. tax season has arrived and many American cryptocurrency proponents are squirming because they have to pay for some of the gains they made last year. However, there are a lot of digital currency holders who could care less about taxes and they strongly believe that taxation is antithetical to cryptocurrencies. While there is a good portion of digital currency holders planning to file their gains and losses, many crypto-advocates don’t plan to pay their tax liabilities. If you’re a cryptocurrency enthusiast then over the past few weeks you’ve probably seen a lot of articles on paying cryptocurrency taxes, how to pay them, and the horror stories involved with those who have to pay taxes on every transaction because — every single one is a taxable event in the U.S. Even though lots of people believe the Internal Revenue Service’s (IRS) classification is unjust by defining cryptocurrencies as a property rather than a currency, people still are forced to pay for their cryptocurrency gains. Just recently there’s been a multitude of reports on cryptocurrency taxation, and some of them explain that a lot of cryptocurrency proponents don’t seem to care about paying their digital asset taxes. Tomorrow, taxes are due for American citizens, and there’s a good portion of cryptocurrency holders not willing to pay digital currency capital gains. Jagjit Chawla, the general manager of Credit Karma Tax explained this week that out of 250,000 individuals who claim to hold cryptocurrencies like bitcoin; less than 100 people (0.0004%) reported their gains to the IRS. “There’s a good chance that the perceived complexities of reporting cryptocurrency gains are pushing filers to wait until the very last minute,” explained Chawla. Further a recent Pollfish conducted Lendedu survey of 1,000 U.S. residents who own cryptocurrencies revealed that 35.87 percent of respondents answered, “No, I do not plan on reporting gains or losses on my tax return” The news also follows the recent IRS Coinbase investigation that reported on how there are millions of Coinbase customers, but less than 900 individuals per year reported their taxes over the past few years. Salty Tax Paying Bitcoiners Get Mad at ‘Tax Cheats’ The articles reporting on people not paying their cryptocurrency tax obligations has got a bunch of bitcoin users ‘salty’ this past week. One individual on the Reddit forum /r/bitcoin says that “tax cheats” are smearing the good name of bitcoin owners. “This is just another way to try and defeat Bitcoin. Nobody likes a tax cheat. Convince the country that BTC holders don’t pay their taxes, and before you know it, you have large numbers of people against them,” explains the post on April 16 the day before tax obligations are due in the U.S. I personally pay my taxes on BTC. It’s not an anonymous currency, and one day, (the IRS can look back seven years) you may get caught. If regulation forces exchanges to hand over all of their customer data, everyone who didn’t pay will be in for a wild ride. ‘Without Projects That Express Principles, You Have Nothing of What You Want With a Revolution’ However, the individual who wrote that post didn’t get the support he was looking for as many of the comments declared that “taxation is theft.” One person who specifically disliked the phrase ‘tax cheats’ in the post writes: Even the term ‘tax cheating’ is a fallacy itself, implying people voluntarily agreed being taxed and are backing out of their agreement or set. If I live in a county where politicians can raise taxes without consulting the parliament or making a referendum who is cheating who? Because I FEEL it’s us the people who are being cheated into paying more taxes. Another person details their issue with the post, “The financial system now is the problem — My government is a warmongering fascist state — F#&$ paying taxes in this shit hole! It’s safe to say that cryptocurrencies and taxes are very topical conversations, and the subjects often get people upset. A large majority of the comments on the ‘tax cheat’ post disagreed with the person who wrote his opinion that tax cheats smeared the reputation of tax-paying citizens. There are a lot of cryptocurrency proponents who are also adamantly against paying taxes, and many of them are vocal about spreading the message that ‘taxation is theft’ over the years. It’s safe to say that cryptocurrencies and taxes are very topical conversations, and the subjects often gets people upset. A large majority of the comments on the ‘tax cheat’ post disagreed with the person who wrote his opinion that tax cheats smeared the reputation of tax-paying citizens. There are a lot of cryptocurrency proponents who are also adamantly against paying taxes, and many of them are vocal about spreading the message that ‘taxation is theft’ over the years. “Without a big expression of intentionality to what is considered not the ‘polite things to do with bitcoin’ — specifically money laundering, specifically private access to your coin, holding your own keys — without projects that express these principles, you have nothing of what you want with a revolution — This leaves me to proclaim that most people involved with bitcoin were not serious about that in the first place,” Defense Distributed founder Cody Wilson explains in a 2015 interview. Source by: bitcoin.com https://news.coinmarketnews.net?news_code=179&title=many-cryptocurrency-holders-do-not-care-about-taxes
  2. One of South Korea’s top three cryptocurrency exchanges, Coinone, is launching an exchange in Indonesia. Initially, six cryptocurrencies will be supported but the exchange plans to add more coins. Coinone is also launching an airdrop event for 10,000 pre-registrants. Coinone Launching in Indonesia Coinone announced on Monday that it is launching Coinone Indonesia in Jakarta, “making [it] first among the top cryptocurrency exchanges in Korea to enter the global market,” the company wrote. Major Korean Exchange Launches in Indonesia with Six CryptocurrenciesThe South Korean exchange is the third-largest crypto exchange in the country after the Kakao-backed Upbeat and Bithumb. Its 24-hour trading volume is $63,140,495 at the time of this writing, according to Coinmarketcap. The company also operates a “blockchain 4D zone” called Coinone Blocks, with walk-in customer consultation counters. Coinone Indonesia wants to be the gateway that introduces people to the concept of blockchain and cryptocurrency and facilitates access for users in Indonesia to have various types of digital assets or cryptocurrencies quickly and safely. About Coinone Indonesia Major Korean Exchange Launches in Indonesia with Six CryptocurrenciesAccording to the company’s announcement, “Coinone Indonesia offers the following six cryptocurrency trades: bitcoin (BTC), bitcoin cash (BCH), ethereum (ETH), ethereum classic (ETC), litecoin (LTC), quantum(QTUM), and shortly thereafter [we] will continue to add other coins according to its high technological standards of examination.” In addition to the aforementioned six cryptocurrencies, Coinone in Korea also supports the trading of ripple (XRP), iota (IOT), and bitcoin gold (BTG). Pre-registration for Coinone Indonesia begins on April 16 and will last a month; only email addresses are needed. While the new exchange will begin service on May 24 for pre-registered users, it will officially launch in June. The exchange explained: Foreigners who are not Indonesian nationals can also apply…after the pre-registration period, foreigners need a separate examination process through the passport and non-face-to-face certification process. Major Korean Exchange Launches in Indonesia with Six CryptocurrenciesThere will also be an airdrop event offered to “selected 10,000 pre-registrants,” Coinone noted. “Up to 10 million rupiah (appx. 800,000 won) worth of cryptocurrency will be granted through a lottery of 10 thousand registered customers,” the exchange wrote, adding that an additional “10 free coupons are provided upon completion of the self-evaluation process.” Specifically, Coinone Indonesia’s website states that the “lucky 10,000 persons who applied for pre-registration will be chosen to get trading fee [of] 0.00% coupon and [the] Qtum Airdrop.” Last week, news.Bitcoin.com reported that 23 cryptocurrency exchanges, including Coinone, have agreed to self-regulate in Korea. Source by: bitcoin.com https://news.coinmarketnews.net?news_code=178&title=one-of-south-koreas-crypto-exchange-launched-an-exchange-in-indonesia
  3. Bitcoin case study: Aniket Patel is an Indian teenager and cryptocurrency investor who is still working on his school exams. Despite this, Patel spends more time checking the Reserve Bank of India’s (RBI) website than scouting for exam results. This is because Patel considers himself a long-term “HODL’er” who is not looking for quick cash, but instead hoping to grow his investments. Despite the fact that Patel’s holdings are now almost twice his initial investment, he is in it for the long haul, he says and isn’t looking to get out anytime soon. Since the RBI’s crackdown on digital currency exchanges earlier this month, Patel has been visiting the bank’s website regularly to check for further directions from the regulator in the hope that its order will be reversed or erased. “I do not use any local exchanges to conduct my transactions anyway, so I am not affected by the ban but I do have some holdings in my father’s account on a local exchange and those we will move to a private wallet within three months. But there is no point selling since we have held these for long and the market is right now at a loss.” Patel is among the many millions of digital currency investors who have been directly affected by the central bank’s order, announced on April 5th, which stated that the RBI was barring banks and financial institutions from dealing in digital currencies. Per the order, RBI has given consumers three months to wind up business interactions related to cryptocurrencies. As might be expected, while digital currency exchanges in India are keeping quiet, traders (like Patel) on these exchanges are unwilling to liquidate their holdings just yet as they wait for the market to move up again. Moving Forward In a perhaps unintended consequence of the RBI’s orders, the bank’s directive proved opportune for a lot of traders who used the dip in Bitcoin’s price to their advantage by buying more and holding it in their private wallets (rather than with local exchanges) — with hopes of making future gains when the market improves. “There will be a rise in cash-out centers where people can exchange their bitcoin, and companies will probably now move to crypto-friendly countries such as Singapore,” said Raj Chowdhury, managing director of HashCash Consultants, a firm involved in digital currency and blockchain-based remittances. Chowdhury said the order was not well thought out since Bitcoin is a decentralized cryptocurrency that cannot be banned by any government since it is present and accessible on servers across the globe. “The move will stifle innovation in the country and companies will look to move to greener pastures. The government will also move on crucial tax money that they could have earned by regulating the market,” Source by: newsbtc.com https://news.coinmarketnews.net?news_code=176&title=in-indian-crypto-traders-seeking-option-following-rbi-crackdown
  4. The FBI has announced on Friday that Renwick Haddow, a 49-year old UK national, has been extradited to the US from Morocco to face charges at the Southern District Court of New York. He is accused of defrauding more than $36 million from victims by making material misrepresentations and misappropriating investment funds in two companies, Bitcoin Store and Bar Works. Alleged British Bitcoin Scammer Extradited to the US for Defrauding Over $36 MillionHaddow was arrested in Morocco under a provisional arrest warrant in July 2017 after the SEC filed fraud charges against him. He allegedly used sales representatives to cold call potential investors and sell securities in the two companies he controlled while hiding his involvement due to his shady past. According to the SEC’s complaint, promotional materials presented to investors in both companies showcased senior executives who did not really exist and misrepresented other key facts about the operations. Haddow allegedly diverted more than 80% of the in funds raised for Bitcoin Store and sent more than $4 million from the Bar Works bank accounts to Mauritius and another $1 million to Morocco. Alleged British Bitcoin Scammer Extradited to the US for Defrauding Over $36 MillionThe materials presented to Bitcoin Store investors claimed it was “an easy-to-use and secure way of holding and trading Bitcoin” and had generated several million dollars in gross sales. However, the SEC alleges that this company has never had any real operations nor generated the gross sales claimed. In 2015, for example, Bitcoin Store’s bank accounts allegedly received less than $250,000 in incoming transfers, none of which appear to come from paying customers. Haddow adopted the alias “Jonathan Black” to hide his involvement and falsely claimed an extensive background in finance. “As alleged in our complaint, Haddow created two trendy companies and misled investors into believing that highly-qualified executives were leading them to quick profitability. In reality, Haddow controlled the companies from behind the scenes and they were far from profitable,” Andrew M. Calamari, Director of the SEC’s New York Regional Office, explained the time. Haddow has now been charged with two counts of wire fraud, each carrying a maximum sentence of twenty years in prison. Source by: bitcoin.com https://news.coinmarketnews.net?news_code=175&title=alleged-bitcoin-fraud-in-uk-scammers-extradited-over-36-million
  5. Ancora1919, an Italian company that has produced luxury pens since the early 20th century, has announced that it will soon accept pre-production orders for limited edition Ethereum pens. The company also sells a limited number of bitcoin pens. Luxury Pen Manufacturer Ancora1919 Announces Ethereum PenUpmarket pen manufacturer, Ancora1919, has announced that it will soon launch a limited run of Ethereum pens. As with the company’s recently offered Bitcoin Pens, the number of Ethereum Pens will be limited to 888 rollerball pens and 88 fountain pens. The pens will be sold a distributed using a model emulating that of a token sale. During the “pre-production stage,” customers will be able to purchase the pens for a 50% discount compared to retail prices. Pre-production will take place from the 8th of April until the 8th of May, during which the rollerball pen will be available for $1,000 USD, and the fountain pen will be priced at $1,250. From the 12th until the 27th of May, Ancora’s “production stage” will see the rollerball pen priced at $1,250, with the fountain pen costing $1,500. Finally, the Ethereum Pens will be made available for retail sales from the 1st of July onward, with the pens priced at $2,250 and $2,500 respectively. The company will also offer a limited number of pens incorporating additional precious metals in exchange for the cryptocurrency. Ancora’s “Platinum numbers” will cost 15 ETH each (approximately $6,960 at current prices), Gold 10 ETH each ($4,640), and Silver 5 ETH each ($2,320). Ancora1919’s website states “Unlike Ethereum […], the maximum supply of Ethereum Pens will remain capped for all time.” The nib of Ethereum Pens will be made of 18K gold. Ancora1919 Cashes in on Cryptocurrency Boom Luxury Pen Manufacturer Ancora1919 Announces Ethereum PenAncora conducted the pre-production state of it’s Bitcoin Pens sale during December 2017, initially offering a 60% discount on its the pens. The Bitcoin Pen will enter the retail phase of its sale from the start of June, with rollerballs priced at $2,250, and fountain pens priced at $2,500. Bitcoin Pens are also available as Platinum, Gold, and Silver “numbers,” priced at 1 BTC (approximately $7,700), 0.5 BTC ($3,850), and 0.25 BTC ($ 1,925). Ancora will announce “new currency pens series” on the 1st of Jun Source by: Bitcoin.com https://news.coinmarketnews.net?news_code=172&title=the-pen-company-ancora1919-sells-a-number-of-bitcoin-and-ethereum-pens
  6. According to the blockchain firm Nchain and its CEO Jimmy Nguyen, the company has secured its first approved patent recognized by the European Patent Office. The patent involves an invention that provides a method for an automated management and blockchain-enforced smart contracts. Nchain Smart Contract Patent Approved by the European Patent OfficeNchain is a blockchain technology-based research and development organization led by Jimmy Nguyen, chief scientist Dr. Craig Wright, and over sixty researchers, engineers, and other professionals based in Europe and Canada. Over the past couple of weeks, Wright has been releasing a series of research papers that apply to the bitcoin infrastructure and the overall network. The subjects discussed within his latest papers include Turing completeness for the bitcoin protocol and other mathematical distributed consensus critiques. Now the firm has secured its first approved patent among many filings with the European Patent Office (EPO). The patented invention was curated by Wright and claims it will allow the storing of metadata, implementing digital tokens, and smart contract management. According to an interview with Nchain’s Jimmy Nguyen and Coingeek columnist Cecille De Jesus, the CEO explains that the IP assets will be available for free for individuals and development teams dedicating their energy to the Bitcoin Cash network. Nguyen explains the EPO approval is a milestone for Nchain and he expects more EPO filings will be approved. “This first patent grant by the European Patent Office marks a major milestone in Nchain’s ambitious research and patent program, which started approximately two years ago,” Nguyen explains. We expect this will be the first of many more patents to come, as our portfolio of blockchain patent applications is among the largest – if not the largest – in the world. Nchain Smart Contract Patent Approved by the European Patent Office Metadata, Digital Tokens, and Smart Contract on Bitcoin Cash Schain's patent titled, “Registry and Automated Management Method for Blockchain-Enforced Smart Contracts,” is described as a computer-implemented method of storing a contract in a network repository and broadcasting a transaction with: “At least one unspent output (UTXO); and metadata comprising an identifier indicative of the location where the contract is stored; and renewing or rolling the contract on by: generating a new key using data relating to a previous key associated with the contract; generating a script comprising the new key, the location of the contract and a hash of the contract; and paying an amount of currency to the script.” The patent gives an explanation of the entire invention alongside schematics and data. Much of the invention discusses metadata implementation that can store the hash of a smart contract, repositories that can comprise a database, index, and searchable browsers. Further, it discusses security mechanisms tethered to smart contracts as well. Nchain Smart Contract Patent Approved by the European Patent Office IP Rights for BCH Development With the ‘Nchain Open Bitcoin Cash License’ Nguyen reveals that Nchain has decided to offer the IP exclusively to the bitcoin cash (BCH) community. This means any of Nchain’s inventions will be made available for BCH developers and development teams through the use of a BCH-based license. “While we are building enterprise value through our patent portfolio, Nchain is committed to using our intellectual property to benefit the bitcoin cash community,” Nguyen notes. “We intend to make key IP assets available for free usage only on the Bitcoin Cash blockchain – through our new ‘Nchain Open Bitcoin Cash License.’” This will give Bitcoin Cash significant advantages over other blockchains and will incentivize businesses to operate on the BCH blockchain, which represents the original vision of Bitcoin. Source by: Bitcoin.com https://news.coinmarketnews.net?news_code=171&title=nchain-offers-patent-contract-to-bitcoin-cash-community
  7. In bitcoin’s earliest days, you could count the number of cryptocurrency exchanges on two hands: Mt Gox, Bitstamp, BTC-e, Vircurex and a handful of others, as well as P2P exchange Localbitcoins. Today, the landscape has changed dramatically. There are now over 500 exchanges to choose from – and that number is growing with every passing week. Calculating the number of crypto exchanges in the world is a lot harder than it sounds. Coinmarketcap lists 208, and there are dozens more listed on other cryptocurrency tracking sites. In addition, there are hundreds of regional exchanges that are only accessible to certain countries and continents. Canada has Einstein Exchange. Africa has Golix. Australia has ACX and will soon have Nauticus, a multi-asset exchange that is launching this year. Blackbird has also just gained its Australian license. None of these platforms features on exchange listing sites such as Coinmarketcap. Neither do major sites such as Coinbase, because it is technically a broker (although its volume is listed on sites like Bitcoinity.org), or P2P sites like Localbitcoins and Localethereum. And what about other forms of P2P exchange such as Radar Relay, Kyber Network, and platforms that operate on the deep web? It is extremely difficult to classify and quantify the number of global crypto exchanges. All that can be said for certain is it’s north of 500 and rising. Back when the bitcoin ecosystem was beholden to just one exchange – Mt Gox – there was a single point of failure that duly crashed the markets when Gox eventually broke. With hundreds of exchanges to choose from today, that shouldn’t be an issue, and yet a glance at where the bulk of the trading volume lies tells a different story. In the last 24 hours, more than half of all cryptocurrency trading volume came from just three exchanges, with Binance accounting for 18% alone. If the exchange were to be hacked or go offline, it wouldn’t cause an Mt Gox-level crash, but it would still inflict a sizeable dent. It is the meteoric rise of Binance, which has gone from nothing to billion-dollar platform in the space of 12 months, that has inspired many of the next generations of token-backed exchanges like Coinlion and Legolas. Each of these new entrants has a slightly different slant, whether it’s knowledge-based trading, ICO launching or, in the case of Exchange, a focus on customer service that includes 24/7 support. It even offers the prospect of video tutorials and phone support for crypto investors who are still learning the ropes. Oliver Isaacs is a cryptocurrency advisor and investor who’s worked with a number of new exchanges. He ventures: “Customer service/tech support is important [with new exchanges] and so is the speed with which cryptocurrency deposit and withdraw transactions are executed. Getting your coin onto and off of an exchange quickly is important, especially for an arbitrage trader.” For so long as the money keeps pouring into the crypto economy and the ICO sector remains vibrant, new exchanges will continue to proliferate. Should things go south, however, and a severe crypto winter set in, many exchanges could wind up as little more than ghost towns, with only the dominant players capable of maintaining liquidity and weathering the storm. Source by: bitcoin.com https://news.coinmarketnews.net?news_code=169&title=explosion-number-of-cryptocurrency-exchanges
  8. Sao Paulo's main institution launched what has been reported as the first Master's degree in finance of the Brazilian crypto. The course comes amid increasing virtual currency on the part of Brazilian universities, with themes related to cryptocurrency getting incorporated into major tertiary finance studies. Brazil University will Launch Master in Cryptofinance Next Semester The University of Brazil Launches Cryptocurrency Master Program, so Paulo Paulo-based Fundacao Getulio Vargas {FGV} has announced what it claims to be the country's first Master's degree in crypto finance. FGV program coordinator Ricardo Rochman emphasized the need for greater educational resources to be made available on the subject of cryptocurrency, stating "This is a market with a lack of people with expertise. Cryptofinance has the economic and financial fundamentals that deserve to be discussed, researched, and taught. " The twenty-six-year-old economics student at FGV, Michele Araujo, proved useful to study the market from a non-speculative perspective, stating "There is a conceptual advantage to know the practical application of technology and cryptocurrency as an alternative investment." Brazilian Students Forming a Pioneer Group / Study University of Brazil Launches Master Cryptocurrency Program Brazilian students have also taken the initiative to establish Blockchain Insper, "a combination of study groups [a] and [a] junior companies," according to local media. The group was founded by two economics students in their early twenties - Juan Perpetuo and Felipe Santos. "We have the humility to understand that there is no point doing something alone," said Mr. Perpetuo deciding to create an Insider Blockchain. "We think we can create hubs that facilitate entry for all students and have an innovation bias that sets us apart from junior companies," he added. Mr. Santos. Blockchain Insper has been formed more than seven months ago and is reported to have partnered with five companies operating in the cryptocurrency industry that provide professionals who serve as mentors and consultants to the group. Currently, Blockchain Insper has 23 members who are divided into research teams that study finance, technology, and business, and departments assigned to the management and practical implementation of marketing, strategy, content, and events. All students are involved with practical activities and research. Cryptocurrencies are incorporated into Economic Studies Brazil University Launched last year's Cryptocurrency Master Program, Faculty of Economics and Administration at the University of Sao Paulo incorporated cryptocurrency into the Derivatives unit - pioneered by Professor Alan de Genaro. Professor Genaro stated that "some issues should be presented even if [students] are not working in financial markets. One should understand which factors are useful and which do not match [regarding cryptocurrency]. " Source by: Bitcoin.com https://news.coinmarketnews.net?news_code=168&title=universities-in-brazil-open-the-master-cryptocurrency-program
  9. A leading provider of IRC cryptocurrency (individual retirement accounts) believes they may have found a solution in one of the bottlenecks stopping institutional investors taking positions in the digital currency. Noble Bitcoin announced earlier today that they will provide an insulated cold storage solution for clients. Is Better Storage a Key to Cryptocurrency Success? For many non-technical people, making the investment in cryptocurrency is a bit of a minefield. One of the biggest challenges encountered is the storage of digital assets themselves. Typical advice is to use a properly crafted paper wallet or a custom-made hardware wallet. However, there is a problem with both of these solutions. Paper wallets are very hard to fit perfectly and hardware wallets though easier to use, are not immune from the security issues themselves. This problem is only strengthened when it comes to investing tens or hundreds of millions of dollars. Noble Bitcoin is a subsidiary of Noble Alternative Investments, believing that this difficulty stops individuals with high net worth from taking positions in Bitcoin and other cryptocurrencies. The solution they propose is insured cold storage. According to a PR news source, the company plans to take care of everything for their clients - from initial coins and tokens to their final storage. Noble Alternative Investment CEO Charles Thorngren told the publication: "Currently cryptocurrency currencies and landscape-making firms do not provide insurance, no location and often no support, this is the 'service' part missing in the financial service aspects of cryptocurrency." The digital assets that Noble Bitcoin offers to store are all they receive for individual retirement accounts. These include Bitcoin, Ethereum, Litecoin, and Ripple. They will be stored in cold storage in IDS-Texas storage and benefit from insurance in the event of a security compromise. The depository is a high-tech, ultra-secure facility, with various steps in place to help protect the assets stored there. Currently, precious metals such as gold, silver, and platinum are safely stored on site. Thorngren went on to state his perception of the future of cryptocurrency and how Noble Bitcoin could be part of making it happen: "We believe cryptocurrency will revolutionize financial services, but to achieve wider acceptance among the masses, it is imperative that we emphasize transparency and trust ... We see the opportunity to change the tide of uncertainty among investors by offering services that do not have a market. although nothing has been done yet when Noble Bitcoin will launch their full custodian service, the initiative is certainly less than the cryptocurrency space. Individuals with high net worth are unlikely or unable to take positions they may want to receive thanks to today's digital currency infrastructure. Many will be reluctant to use an existing exchange because it is vulnerable to hacking. The only real option for them is OTC purchases and this leaves them with the burden of finding a seller and securing the asset itself. If Noble Bitcoin's service proves successful, perhaps more will be encouraged to enter the market. Source by: newsbtc.com https://news.coinmarketnews.net?news_code=166&title=noble-bitcoin-provide-storage-for-crypto-investors
  10. The decision by the Polish government to impose crypto transactions, even those that do not generate profits, has fueled discontent among traders in the country. The local crypto community has decided to protest the Finance ministry policy with online petitions that garner support. Taxes on crypto-related revenues in Poland can reach 32%. Any purchase and sale will be taxed as a transfer of property, regardless of the outcome to the parties. Country Wants One-third Crypto Income of over € 20,000 The Ministry of Finance of Poland recently published its official position on the imposition of income tax and income cryptocurrency. Polish citizens tax returns should contain information about income from trade and exchange for cryptocurrencies such as bitcoin, litecoin or ether, the department said. Crypto Revenue and Profit The turnover from crypto transactions must be reported as personal income and taxable according to the current state tax code. Poland has implemented a progressive income tax rate with two parentheses - 18% for revenues up to PLN 85,528 zloty (€ 20,400), and 32% for more than annual amount. The ministry stressed that the general provisions of the Personal Income Tax Act include income derived from cryptocurrency transactions. In addition, he said the purchase and sale of cryptocurrency is considered a transfer of property rights. As such, they are subject to a 1% tax rate under the terms of the civil law treaty. According to tax ministry interpretation, all cryptocurrency transactions, regardless of net proceeds, are taxed. This means that Poland is expected to pay taxes even when they do not profit from their transactions with cryptocurrency. "They Want 1% but Will Not Win Penny" Because of protesting the Ministry of Finance's stance, cryptocurrency traders have organized an online petition, Bloomberg reported. They blame the government for effectively limiting access to the emerging cryptocurrency market. Tax regulations have been introduced without consultation with affected parties. The petition authors demanded to abolish all taxes on the cryptocurrency trade. They also called for clear rules for the taxation of profits in the industry. The local crypto community says investors will lose capital which, because their funds can be taxed hundreds of times. Recent interpretation of the tax regulations associated with cryptocurrency requires market participants to pay 1% tax on each transaction. After a hundred transactions, regardless of the market situation, investors can give all their capital to the state. As a cryptocurrency community, with over 250,000 active members, we oppose this obligation. As a result of "unwise government action", many Polish blockchain companies and programmers are now working on foreign projects, claiming those behind stopregulacjom.pl (Stop Regulation) initiatives. "They want to take 1% of each transaction but will not get a cent", says the campaign. The petition has been signed by nearly 3,000 people (at time of writing). Polish Unfair Tax Protests on Crypto Revenues and Profits The Ministry of Finance has announced that they are working on a more convenient tax method for cryptocurrency, while emphasizing that current regulations are binding. The deadline for filing an annual tax return in Poland is April 30th. With a recently published notice, the country is joining more and more EU members looking to capitalize on crypto related revenue and profits. However, most of them have not yet adopted a comprehensive regulation of cryptocurrency such as bitcoin. Taxation policies differ significantly across the continent. Income tax and capital gains tax are often imposed on income associated with crypto. Most governments have chosen to apply their regular tax laws. provisions Tax rates range from 0 to 50% in various EU countries. Source by: Bitcoin.com https://news.coinmarketnews.net?news_code=165&title=poland-protest-taxation-of-crypto
  11. One of Hong Kong's cryptocurrency entrepreneurs and claiming 'corporate refugees,' Dave Chapman, believes that space for digital currency will remain. As a blockchain evangelist, Chapman argues that all bitcoin holders (BTC) who are skeptical about the digital currency, due to unstable price volatility, must step aside and understand the underlying technology. Exactly In 2008, when there was a worldwide financial crisis, Dave's belief in traditional finance was interrupted after he discovered lies, manipulations, and other tactics used by financial institutions. Prior to entering cryptocurrency, Chapman worked with Credit Suisse, Bear Stearns, and HSBC. Chapman first learned about bitcoin in 2012, and by 2013, he's hooked. Speaking to the South China Morning Post, Chapman said: "One of the most interesting things that got me back to bitcoin when I first saw it was that there was no central authority. That means no one can stop it. The bank can not stop it. A dictator can not stop him. Parents cannot stop it. " During this time, banks are also aware that cryptocurrency markets have a large space for adults and understand that regulation is inevitable to make cryptocurrency really evolve. Chapman then left HBSC to open a bitcoin exchange. He partnered with two equally desperate colleagues, Hugh Madden and Ken Lo, who also worked in the fintech sector. When asked about the current market position with respect to development, Chapman connected it to the internet in 1995, when new technology and most developers focused on defining the user experience. Earlier in 2017, Chapman told CNBC that bitcoin could reach a target price of $ 100,000 before 2019. While this projection may sound bullish, Chapman had earlier tipped the BTC to touch a minimum of $ 10,000 by the end of 2017. The digital currency topped the $ 13,000 mark on a new night, 2017. This prediction goes hand in hand with Wall Street becoming a cryptocurrency evangelist Tom Lee, who says that "bitcoin is 'digital gold' for the millennium generation and could reach a '$ 100,000 range.' "I am quoted back in August (2017) when bitcoin trades at around $ 4,000 that we will have a five-digit headline by the end of this year," Chapman said in December. "I think a lot of people think I'm crazy, a lot of people mock me, but that's okay." For the most part, the unstable bitcoin daily price is the most profitable part, but for Chapman, the price is not the most exciting thing about the market. Banker Represents True "Haters Turns Believers" Who left a respected career and chose to play with magical internet money? That's what passed the minds of many people when Chapman took his first step into the cryptocurrency. Her investment banking partner called her "'crazy." Along with its bitcoin exchange, Chapman launched the Octagon Strategy, a cryptocurrency broker who now handles $ 1.5 billion in trades. Regardless of the destruction of the market, good business, and the company moved to a larger office. The company trades seven cryptocurrencies but is anticipated to expand this to 40 to 50 by the end of 2018, as the company focuses on the ICO that is hitting the market. Surprisingly, the former director of Morgan Stanley is CEO of Octagon Strategy, which further proves Chapman's belief that bankers are no doubt aware of the potential of digital assets. Source by:btcmanager.com https://news.coinmarketnews.net?news_code=163&title=bitcoin-has-a-future-chapman
  12. By 2018 it is the establishment of bitcoin years in the academic world as more and more institutions of higher education are entering this field. The latest example comes from a number of top-ranking business schools in the US that are expanding their offerings due to student demands. Stanford, Wharton, and Georgetown Expand Business Class BitcoinStudford University Graduate School will offer full-time cryptocurrency courses starting in May. The new classes appear after a coordinated campaign by MBA students who see innovative concepts as important to their future careers. "Many of us have to discuss blockchain in our work, it makes sense to teach it," explained Itamar's second-year student Orr. "It gives you a competitive edge: this is an extra hammer in your toolbox." A group of students also petitioned the school leadership to add a full-time class like before only covering pop-up areas. After Stanford opened the class to register a wider request has been confirmed as it closed with more than fifty candidates on the waiting list. Susan Athey, a professor of technology who will teach a new class, commented to CNBC: "Price fluctuations make everyone amazed: How can this happen? Many people experience boom or bust and that, of course, is interesting, attracts a lot of interest and motivates people to understand what is going on. " Stanford, Wharton and Georgetown Expand Business Class Bitcoin Wharton School at the University of Pennsylvania will also offer cryptocurrency classes this fall for the first time. Professor Kevin Werbach said: "We are at a point where there is a critical mass to teach this domain.There will be a real phenomenon in business in the future, and the next five years there will not be too many big business schools that do not offer similar classes. " Not only students who ask for more classes but on the industry side too. John Jacobs, executive director of the McDonough School of Business at Georgetown University, revealed that he "constantly" received calls from Wall Street and hired a consulting firm that said, "You need to train them, we need people to understand how to implement blockchain technology. He added that: "Every world-class program must equip students in this field to compete.Wherever we turn." such as previous reports, other universities located in financial centers such as Chicago and New York, have also recently begun to respond to student demand for bitcoin education. Source by: Bitcoin.com https://news.coinmarketnews.net?news_code=162&title=business-schools-in-the-us-expand-business-class-bitcoin
  13. The State Bank of Pakistan (SBP) has issued a circular on the “prohibition of dealing in virtual currencies”. The measure comes right after a similar move by the central bank of neighbouring India. Commercial banks and payment providers have been told to stay away from crypto operations. They should not facilitate transactions of virtual currencies and tokens, the document states. Bitcoin, Pakcoin, One Coin Considered Illegal Pakistan's central bank says virtual currencies such as Bitcoin, Litecoin, Pakcoin, One coin, Dascoin, Pay Diamond and tokens from initial coin offerings are not a valid payment instrument in the country. This is by no means guaranteed by the Government of Pakistan, notes the financial institution. SBP does not permit any individual or entity to the issue, sell, buy or exchange any virtual currency and coins in Pakistan, according to circular no. 03 which is published on the bank's website. And in this case, There is no special law on cryptocurrency adopted in this country. The authorities, however, have shown a negative attitude towards bitcoin on many occasions. The Federal Investigation Agency, which has conducted several operations against cryptocurrency traders, recently called on the government in Islamabad to declare the digital currency "persona non grata". In accordance with the established policy, all banks, microfinance entities, payment system operators and service providers "are advised to refrain" from dealing with cryptocurrency. It includes "processing, using, trading, holding, transferring, and investing" in digital coins. The SBP also said that banks and companies should not facilitate crypto transactions from customers and their account holders. all Pakistani banks have been required to "promptly" report each transaction to the Financial Monitoring Unit (FMU). All crypto transactions have been called "suspicious". The circular was signed by the director of Bank Negara Muhammad Akhtar Javed, who asked the bank to recognize the receipt. According to Pakistani media, the SBP has also warned citizens against using cryptocurrency to transfer money abroad. Everyone who does that will be prosecuted. For domestic and international transfer services arranged by the central bank in Pakistan. It notes that no entity is authorized to offer cryptocurrency remittance services. Pakistanis have been advised not to engage in activities such as mining, trading, and promoting the virtual currency. Pakistan's Central Bank Prohibits Crypto Dealings by Crypto-related Transaction Prohibition has been reported as a "major development" by the local press. It follows a similar decision by the Reserve Bank of India. The RBU orders regulated financial institutions in the country to stop all services to individuals and businesses dealing with cryptocurrencies such as bitcoin. Statements issued by the Indian central bank effectively prohibit banks from working with intermediaries such as cryptocurrency exchange. However, major commercial banks have tightened the clamps even before the order. Citibank, ICICI Bank, HDFC Bank, Kotak Mahindra Bank, and State Bank of India, have all pending accounts from crypto traders without a mandate from the central bank. As a result, bitcoin trade in local exchanges has fallen by 90% in the past two months, as reported news.Bitcoin.com. According to Indian media, RBI's tough stance, amid continuing regulatory uncertainty, requires Indian stocks to seek jurisdiction with clearer policies, such as Australia. The trading platform also seeks to actively respond to the latest challenges. The online petition calls for a bank reversal. A campaign on Twitter has garnered support under the tag Just like India, Pakistan has seen an increase in interest in cryptocurrency since last year when bitcoin market capitalization and the like reached the highest point of all time. However, the local crypto sector does not develop as in other countries, including India. Source by:bitcoin.com https://news.coinmarketnews.net?news_code=160&title=the-central-bank-in-pakistan-prohibits-the-use-of-crypto-transactions
  14. In a Twitter-based continuation of the Bitcoin (BTC) vs Bitcoin Cash (BCH) debate, the BCH-promoting Twitter handle, @Bitcoin has been suspended by Twitter, seemingly due to a large number of complaints from Twitter users – likely Bitcoin supporters The rivalry between Bitcoin and Bitcoin Cash, a hard fork of the Bitcoin Blockchain that took place in August 2017, is characterized by the debate over scaling issues on the network and how to solve them. Along those lines, Bitcoin enthusiasts promote second-layer scaling solutions; they are opposed to any hard forks that may solve said problems, but seek to replace Bitcoin, protective of the “Bitcoin” name, whose user base and brand recognition are unparalleled by other coins. Roger Ver, a long-time crypto entrepreneur and a major proponent of Bitcoin Cash, tweeted today that the suspension of the BCH account is the death of free speech: Self-proclaimed cypherpunk Jameson Lopp commented on Ver’s Tweet that “reedom of speech means that the government won't throw you in a cage for saying something it doesn't condone. Freedom of speech doesn't mean that you can do whatever you want on someone else's property,” starting an online argument about Twitter’s policies on account suspension. Twitter user Cryptomania replied to Jameson Lopp that “an army of people commanded by /r/bitcoin reporting the account non stop ” led to its suspension, to which Lopp retorted that “even if that's the case, it's still an issue with Twitter as a private platform rather than with government authorities threatening folks. Similar issues exist on Reddit with mass downvoting/reporting / brigading.” A post on sub-Reddit /r/Bitcoin from earlier today that “Twitter has finally suspended the compromised ‘@Bitcoin’ account,” is full of commentators that are on the whole happy about the account suspension. Some Reddit users also have hypothesized that Ver was the owner of the account due to an alleged coincidence with the Tweets that both Ver’s Twitter and @Bitcoin “liked.” Additionally, according to commentators on the sub-Reddit post, if Ver had acquired the account handle by purchasing it, the account had broken Twitter’s guidelines: “Buying/selling Twitter handles is supposedly against Twitter's ToS. The @Bitcoin account has leased OAuth2 access to another publisher in the past, this access was abruptly terminated at the start of 2018 and started promoting Bitcoin(dot)com propaganda exclusively, as well as a wide range of deceptive (fraudulent) altcoin propaganda echoing Roger Ver. The account operator and Roger Ver both claim that the account was not sold, but given the abrupt shift and Roger Ver's proclivity to throw his money around to get what he wants, I think it's likely the account changed hands.” Bitcoin researcher and developer David Shares also tweeted his disappointment with the account suspension directly to Twitter CEO Jack Dorsey, expressing his opinion that the account was suspended due to Bitcoin “Core trolls” falsely reporting it: The @Bitcoin account has been suspended (again) by @TwitterSupport only because Core trolls constantly submit fake reports about it. @Jack why do you guys keep letting this happen? Instead of suspending all the fake scammer accounts you suspend the real ones. Before being suspended for a second time today, the account briefly appeared to have a new owner. While the Twitter profile left the identity of its new owner relatively anonymous (the picture was of a Jaguar), one could hypothesize that the new user may have been from Turkey, as their third tweet, before the new account was suspended, read “Turkey is so cool” and featured the Turkish flag. This random that took over the @bitcoin account must think twitter is the coolest thing ever. He logs on and within an hour has 2500 followers, says hello and gets 1000 likes — Ran Neuner (@cryptomanran) April 8, 2018 The intrigue over @Bitcoin’s new owner continues, as Shares posted on Twitter recently that since an account cannot be re-registered once it has been suspended, the account may have been deleted and then re-registered: Does @TwitterSupport have a rogue employee abusing Twitter profiles internally? If an account is suspended you cannot re-register it. Clearly, in this case, Twitter shut down and then *deleted* the @Bitcoin account allowing it to be re-registered. Source by :cointelegraph.com https://news.coinmarketnews.net?news_code=159&title=bch-promoting-twitter-account-bitcoin-suspended
  15. Government officials with the Reserve Bank of India announced on Thursday that, effective immediately, banks would be prohibited from "dealing with or providing services to any individuals or business entities dealing with or settling virtual currencies." Essentially, that means people in India are now unable to move money from bank accounts to exchanges in order to buy cryptocurrency. What's more, if you've sold your fat gains for cash, you are no longer able to move that money back to your bank account. So reports The Economic Times, which quotes an RBI press release as noting that, going forward, "any user, holder, investor, trader, etc. dealing with virtual currencies will be doing so at their own risk." This announcement didn't come out of the blue. Earlier this year Indian finance minister Arun Jaitley straight up trashed cryptocurrencies. "The government does not consider cryptocurrencies legal tender or coin and will take all measures to eliminate the use of these crypto-assets in financing illegitimate activities or as part of the payment system," he is reported as saying in a budget speech. So did India just ban Bitcoin? Not exactly. It did, however, just make buying, selling, or using cryptocurrency in the country a heck of a lot harder. According to Cointelegraph, RBI's deputy governor, Bibhu Prasad Kanungo, explained the motive behind the action as a proactive measure to ensure financial stability. "Internationally, while the regulatory response to these tokens is not uniform, it is universally felt that they can seriously undermine the AML (anti-money laundering) and FATF (Financial Action Task Force) framework, adversely impact the market integrity and capital control," he reportedly noted in a press conference. "And if they grow beyond a critical size, they can endanger financial stability as well." This development follows on the September news that China ordered the closure of all locally based cryptocurrency exchanges, and then in February attempted to straight up block access to exchange websites. While RBI's move is definitely not good for cryptocurrency in general, it is a far cry from the stricter measures taken by India's neighbor. So, you know, all you international holders can breathe easy for now. Source by: mashable.com https://news.coinmarketnews.net?news_code=157&title=india-warns-cryptocurrency
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