Monthly Archives: September 2018

Innosilicon’s Impending ASIC Miner Could Challenge Bitmain’s Dominance

As controversies surrounding Bitmain’s looming IPO spell uncertainty for the future well-being of the mining goliath, competitors are fast to move in on the manufacturer’s territory. One of these competitors, Innosilicon, now claims to have a new ASIC miner for bitcoin in the works that will outperform any current hardware in speed, profitability and efficiency. Speaking to Bitcoin Magazine, an Innosilicon representative, who asked to remain anonymous, said its upcoming ASIC, the Terminator3 (T3), “has been in development since February of this year.” Founded in 2006, the […]

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UN Women to Use Blockchain Technology in Refugee Work Program in Jordan

UN Women will use blockchain-based payments in their cash for work project for Syrian refugees. UN Women — a United Nations entity for gender equality and empowering women — will use blockchain technology for cash transfers in Jordanian refugee camps, according to a UN press release September 18. Per the announcement, UN Women in partnership with the World Food Programme (WFP) will use blockchain technology for money transactions at Za’atari and Azraq camps. The cumulative population of both camps is over 115,000. Women refugees participating in the […]

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Newest Crypto Exchange Offers Multiple Currencies Via One Book

The crypto world is welcoming its newest digital currency exchange. Known as BTSE, it’s a platform designed primarily to look after markets and OTC trading. The system is unique in the sense that it offers multiple currencies through one book, and entities like the U.S. dollar, the euro and the Japanese yen all share the same liquidity pool. Co-founder Jack Li spoke with Bitcoin Magazine about how the exchange works and what its overall purpose is in offering a multi-currency platform. “Even though there has been some […]

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Ex-Liberia Central Bank Chief Under Probe for Missing $104M, State Seeks FBI Help

More than a dozen government officials, including former central bank governor and his deputy, have come under investigation in Liberia after $104 million of newly printed banknotes vanished from the state purse. Liberia has issued a travel ban to Milton Weeks, the ex-Central Bank of Liberia chief, his deputy Charles Sirleaf, son of former president Ellen Jonhson Sirleaf,  and several others pending the investigation. Also read: Brazil’s Biggest Banks Under Investigation For Monopoly In Cryptocurrency Trade Liberia Enlists FBI, IMF To Help Recover Missing Funds The Liberian government has […]

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In First Half of 2018, Japan Counts $540 Million Lost to Crypto Thefts

When Tokyo-based Mt. Gox got hacked to the tune of 650,000 bitcoin in 2014, Japan learned early on the tough lessons of cryptocurrency theft. Yet, to this day, despite the country’s ongoing efforts to educate investors and ramp up oversight of crypto exchanges, it still feels the sting of hackers. On September 20, 2018, on the heels of the Osaka-based Zaif heist, which amounted to $60 million in losses, the country’s National Police Agency (NPA) issued a report of cryptocurrency thefts involving exchanges and individual crypto wallets […]

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Congressional Committee Calls for Clearer Crypto Tax Code in Letter to IRS

In an open letter to the Internal Revenue Service (IRS), the U.S. House’s Committee on Ways and Means argues that the tax collection body is leaving investors in the lurch with its vague cryptocurrency tax codes. Authored by congressional representatives Kevin Brady, Lynn Jenkins, Darin LaHood, David Schweikert and Brad Wenstrup, the letter, addressed to Acting Commissioner David Kautter, calls on the IRS to devise a more concrete cryptocurrency taxing scheme than the one it currently enforces. Opening with reference to a similar letter the Committee sent […]

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Streaming Platform for Gamers Starts Public Beta Testing of Its Own Blockchain

sponsored A streaming company launches its new blockchain to let viewers, streamers and esports tournament organizers monetize on streaming games. On Sept. 19, the Play2Live streaming platform for gamers and esports fans has officially announced the launch of the open beta testing of their blockchain streaming platform to the general public. The new blockchain platform aims to let participants benefit from monetization schemes — involving streamers, viewers and esports tournament organizers. As Play2Live told Cointelegraph earlier, “Everybody can be part of the peer-to-peer interaction, and everybody,  even […]

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Major Russian Banks Highly Interested in ‘Working With Crypto,’ Local Sources Say

While crypto legislation in Russia remains undefined, major banks admit high demand for digital assets, and are willing to enter the market as soon as possible. Several large Russian banks have expressed their strong interest in working with the industry of cryptocurrency and blockchain during a closed-door meeting held at the Moscow Exchange, sources told Russian news site RBC September 19. As an unnamed source familiar with the matter told RBC, the demand for cryptocurrencies in Russia is very high, but the banks are not able to […]

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Mining Round-Up: New Bitfury Chip, Anti-Cryptojacking Botnet Discovered

In recent news pertaining to cryptocurrency mining, Bitfury has announced a “suite” of products powered by the company’s new mining chip, a botnet that hunts and destroys XMR mining malware has been discovered by security researchers, and Soluna has announced that it will commence the construction of its Moroccan wind farm in January. Also Read: Weiss Ratings Backtracks After Tipping Ethereum to Beat Bitcoin Bitfury Announces New Mining Hardware San Fransisco-based Bitfury Group has launched a “new suite of bitcoin mining hardware,” powered by its latest SHA-256 ASIC […]

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US Lawmakers Say IRS Too Focused on Enforcement, Should Provide Clarity for Crypto Taxation

U.S. lawmakers have chastised the Internal Revenue Service (IRS) for failing to issue updated and “comprehensive” crypto taxation guidance since 2014. U.S. lawmakers have called on the Internal Revenue Service (IRS) to issue clarified and “comprehensive” crypto taxation guidance, in an open letter submitted yesterday, September 19. The letter was sent to acting IRS commissioner David Kautter by Congress members David Schweikert, Darin LaHood, and Brad Wenstrup, Kevin Brady and Lynn Jenkins from the Committee on Ways and Means. It opens by calling attention to a prior […]

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