Monthly Archives: October 2018

Binance Introduces Blockchain-Based Donation Website at UN Conference

The CEO of the world’s largest cryptocurrency exchange, Binance, has announced the launch of a blockchain donation platform during a recent U.N. conference. The Blockchain Charity Foundation (BCF), a social project of the world’s largest crypto exchange Binance, has introduced its blockchain-powered donation platform, Binance Blog revealed Friday, Oct. 26. The donation project was announced Wednesday, Oct. 24, during the World Investment Forum organized by the U.N. Conference on Trade and Development (UNCTAD) in Geneva, Switzerland. At the forum, Binance CEO Changpeng Zhao — also known as […]

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New Ethereum-Based Token to Be Backed by Bitcoin

U.S. blockchain security and crypto wallet firm BitGo announced the development of ERC-20 token Wrapped Bitcoin, which will be fully backed 1:1 with bitcoins U.S. crypto wallet and blockchain security firm BitGo has announced the development of an Ethereum (ETH)-based coin backed 1:1 with Bitcoin (BTC), according to an official blog post Friday, Oct. 26. The announcement reads that Wrapped Bitcoin will provide users with a “wide variety of new decentralized use cases including on decentralized exchanges (DEXs), as collateral for stable coins or lending, for payments […]

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Visa CEO Plays Down Cryptocurrency Threat, Indicates Possible Intervention

Visa chief executive officer Alfred Kelly has said that cryptocurrencies are not a significant threat to his company’s electronic payments hegemony. He nevertheless indicated that the legacy financial intermediary may move into handling cryptocurrency if there is an incentive to do so. Also Read: Japan Approves Self-Regulation of Cryptocurrency Exchanges Kelly: Cryptocurrency More a Commodity Than Payment Instrument Speaking to CNBC Mad Money’s Jam Cramer on Oct. 25, Kelly said cryptocurrency is more of a commodity than a payment instrument as it stands. But, in the event that the […]

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Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Stellar, Litecoin, Cardano, Monero, TRON: Price Analysis, October 26

Crypto markets are currently trading in a tight range, and are not reacting to fundamental news events, but traders should be ready if the breakout is to the upside. The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk, you should conduct your own research when making a decision. Market data is provided by the HitBTC exchange. Regulations are a double-edged sword. If utilized correctly, they can infuse confidence […]

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US: IRS Advisory Committee Calls for Additional Guidelines on Crypto Taxation

An advisory committee urges the IRS to review crypto guidelines that were issued back in 2014. An advisory committee of the U.S. Internal Revenue Service (IRS) wants the agency to provide additional guidelines for the taxation of crypto transactions, according to a 2018 general report published Oct. 24. Although in 2014 the IRS had already issued commentary specifically on digital currencies,  recommending they be treated as a property, the Information Reporting Program Advisory Committee (IRPAC) believes that crypto-specific taxation should be reviewed due to the growing public […]

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Regulations Roundup: Shenzhen Court Recognizes Bitcoin, Coinbase Lawsuit Dismissed

In recent regulatory news, a Shenzhen court has ruled in favor of protecting an “equity transfer agreement” involving bitcoin, the judge presiding over a class action lawsuit against Coinbase has granted a motion to dismiss, and an Australian woman has been arrested for stealing 100,000 XRP following a 10-month investigation. Also Read: Regulations Roundup: SEC Considers Crypto Fund Criteria, South Korea Warns Investors Shenzhen Court Purportedly Recognizes Bitcoin “Equity Transfer Agreement” Chinese media has reported that a recent decision by the Shenzhen Court of International Arbitration has ruled […]

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Chinese Edition of Book ‘Mastering Bitcoin’ Appears on State TV With ‘Sanitized Title’

China’s state-run TV channel has aired an advertisement for a Chinese translation of the classic book “Mastering Bitcoin” that removes Bitcoin from its title. The notably edited title of Andreas Antonopoulos’ classic book “Mastering Bitcoin” was aired in an ad for the book on China’s state-run TV channel China Central Television (CCTV) Oct. 19. A renowned primer on the foundations of the crypto revolution, “Mastering Bitcoin” was first published in 2015, and re-released in a 2nd edition in 2017. In the Mandarin translation, the title has been […]

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Unwriter Launches ‘Bitsocket’ — A Push API for the Bitcoin Cash Network

After a slew of new applications released over the last six months, on Oct. 24 the software developer Unwriter published another platform for the BCH ecosystem called Bitsocket; a real-time application program interface (API) for Bitcoin Cash. Essentially Bitsocket compliments Unwriter’s Bitdb ‘pull’ based API with a ‘push’ based infrastructure for transactions on the Bitcoin Cash network. Also read: SEC Suspends Trading in Company Over False Cryptocurrency-Related Claims Unwriter Publishes a Bitcoin Cash Transaction Push API Called Bitsocket The developer Unwriter recently created a new application called Bitsocket, […]

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IRS Advisory Committee Requests Clearer Guidance for Crypto Tax Code

On October 24, 2018, an advisory committee to the Internal Revenue Service (IRS) published a report calling for clarity on the IRS’s position toward cryptocurrency taxation. The Information Reporting Program Advisory Committee (IRPAC) recently released its annual report advising the IRS on possible areas to improve the tax code, specifically referring to data gathered throughout the fiscal year of 2018. In this 95-page report, multiple sections are dedicated to the issue of cryptocurrency taxation, with the IRPAC specifically recommending “that the IRS issue further guidance on the […]

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All Quiet on the Crypto Front as Bitcoin, Altcoins Shun Volatility

Most top twenty cryptocurrency see less than 1 percent volatility in the past 24 hours, data confirms. An eerie calm continues to linger over cryptocurrency markets Friday, Oct. 26, as Bitcoin (BTC) volatility hits an all-time low and altcoins remain stagnant. Market visualization from Coin360 Data from Cointelegraph’s price tracker and Coin360 paints an underwhelming picture for short-term speculators, but one that has delighted many analysts, who have begun hailing a new era of Bitcoin stability. On Friday, Bloomberg joined the multiple cryptocurrency industry commentators to highlight […]

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