Monthly Archives: July 2018

International Coalition Set to Tackle Cryptocurrency Tax Crime

In a bid to fight the threat of cryptocurrency tax crime, the United States Internal Revenue Service (IRS) has joined with tax authorities from Australia, Canada, the Netherlands and the United Kingdom to form the Joint Chiefs of Global Tax Enforcement (J5), according to a press release. The J5 is a response to a request by the Organisation for Economic Co-operation and Development (OECD) for countries to do more to tackle tax evaders. The new task force, which would work collaboratively with the OECD where appropriate, believes […]

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Indian Supreme Court Continues to Uphold Central Bank’s Ban on Crypto Dealings

India’s Supreme Court has today ruled not to grant interim relief to businesses affected by the Reserve Bank of India’s ban on banks’ dealings with cryptocurrency. The Supreme Court of India has ruled not to grant interim relief to those affected by the Reserve Bank of India’s (RBI) ban on banks’ dealings with crypto-related businesses, Quartz India reports today, July 3rd. The Supreme Court has thus yet again refused to stay RBI’s April 6 circular, which had directed all banks to extract themselves from existing relationships with […]

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Hong Kong Continues Taking Regulatory Action, Hopes to Become International Blockchain Hub

Hong Kong’s financial watchdog reminded that they will “keep a close watch” on crypto and ICOs. On June 27, Hong Kong’s Securities and Futures Commission (SFC) declared in their annual report that they will “keep a close watch” on crypto and Initial Coin Offerings (ICO). According to the watchdog, the new technology “comes with risks,” which is why they plan to “intervene when appropriate.” Indeed, the SFC has stepped in with more definite regulatory policies this year, taking action against local crypto exchanges, ICOs and warning the […]

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Singapore Startup Launches Exchange to Combine Tokens and Fiat Transactions

sponsored A Singapore startup is integrating fiat currencies, credit cards and cryptocurrencies on a single platform, hoping to make crypto transactions easier and cheaper for users. Singapore-based startup Cryptology is aiming to make crypto transactions simpler and cheaper by building a “next generation” cryptocurrency exchange, which would be among the few that combine crypto and fiat transactions on a user-friendly platform, and offers the additional option of a mobile app. The company also expects to have an edge over rivals by partnering with a payment system that […]

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Gaming and Mining In One Computer

Gaming And Mining? Russia can now boast a new computer which can offer gaming and mining all at the same time. This could very much be a game changer for the Cryptocurrency industry although the worry as always with mining is the power required to operate said machines and where this is coming from. However, one of the many positive assets about this hybrid is the fact that the mining is done through a GPU, which means that the amount of power required is a lot smaller […]

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Switzerland’s “Crypto Valley” Successfully Completes Blockchain Voting Trial

Zug, a city in Switzerland’s Crypto Valley, completed its first blockchain-based municipal vote on July 2, 2018, the Swiss News Agency reports. Hailed as a “success” by local officials, the vote was held using a trial digital ID system announced in June of this year. City authorities, who have issued digital identities to residents since 2017, are currently evaluating different applications of blockchain technology for governance. The votes, which were placed through a mobile app, allowed residents with digital IDs to provide feedback on matters such as […]

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Crypto Markets Hold Recent Gains, Bitcoin Gaining Momentum Over $6,500 Price Point

Crypto markets are holding their recent gains, with BTC trading above $6,500, and ETH above $460, consolidating an upswing that kicked off June 30. Crypto markets are consolidating their recent gains, today, July 3, as data from Coin360 shows, with Bitcoin (BTC) trading above $6,500. Markets took an upswing starting June 30, and have since stabilized their growth, with most of the top coins seeing small gains and losses on the day to pres time. Market visualization from Coin360 Bitcoin is trading currently around $6,560 at press […]

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Decentral Launches Its New Cryptocurrency Wallet Jaxx Liberty in Beta

One of the main parts in the vision many Bitcoin supporters have is that the cryptocurrency will become the de facto single currency of the future. But for now its success has brought an explosion of altcoins and ICO tokens. Hoping to tap into the challenge to handle all this crypto cacophony, Decentral developed Jaxx Liberty.   Also Read: Luxury Marketplace Fancy Offers Discount for Bitcoin Purchases Jaxx Liberty Decentral, the Toronto-based multi-coin platform founded by Anthony Di Iorio, has announced the beta launch of Jaxx Liberty. The […]

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Kraken Crypto Exchange, Community Blast Bloomberg Article on Tether ‘Red Flags’

Major crypto exchange Kraken issues a harsh response to a recent article on Bloomberg that alleged possible “manipulation” of USDT price on the platform. Major crypto exchange Kraken has issued a scathing response to a recent Bloomberg article about stable cryptocurrency Tether (USDT) allegedly “defying logic” on Kraken’s platform. The article in question, titled “Crypto coin Tether defies logic on Kraken’s market, raising red flags,” was published on Bloomberg June 29, with comments and analysis from several academics and Andrew Rennhack, a former professional poker player. Its […]

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Five Nations Launch Tax Enforcement Alliance to Tackle Crypto, Cybercrime ‘Threat’

The U.S. IRS has formed a new international taskforce comprising tax enforcement agencies from five countries to tackle crypto-enabled crimes. The US Internal Revenue Service (IRS) has launched an international taskforce together with tax enforcement authorities from four other countries to take on cryptocurrency-enabled crimes, according to a press release published Monday, July 2. The new coalition, dubbed ‘The Joint Chiefs of Global Tax Enforcement,’ or ‘J5,’ comprises tax enforcement agencies from five countries in total –– Australia, Canada, the Netherlands, and the United Kingdom, alongside the […]

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