A Protocol Labs General Council member bashed the current crypto tax scene at a recent congressional hearing on blockchain tech. In a United States congressional meeting titled “Building Blocks of Change: The Benefits of Blockchain Technology for Small Businesses,” one of the testifying witnesses called out current cryptocurrency taxation expectations for their overbearing complexity. “Doing…
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Cryptocurrency exchanges have seen a victory in India. The country’s banks can welcome their customers dealing with crypto again, but the fight is still not over, and the ban could still be passed, as there are more hurdles along the way. (Updated at 15:28 UTC: updates in bold) Updated at 10:31 UTC: updates throughout the…
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Source: Instagram, Binance Major cryptocurrency exchange Binance has run into some issues again, second time in less than a month. Binance CEO Changpeng Zhao has tweeted to the exchange’s users that trading has been paused "due to a message broker issue," assuring them that this is a system issue, not related to funds. "Funds are…
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Source: iStock/Sasha_Suzi Following an extremely turbulent past few days in the traditional financial markets, with an unexpected rate cut from the U.S. Federal Reserve (Fed) yesterday, bitcoin (BTC) is still trading above the key 200-day moving average line. As of press time on Wednesday (13:47 UTC), BTC is trading at USD 8,765, or 0.4% lower…
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XRP, the token associated with the California-based fintech firm Ripple, is down 1% today, while other major coins dropped 1%-4% today, despite good news from India. At pixel time (13:00 UTC), XRP trades at c. USD 0.233 and is also down 4.9% in a week, increasing its monthly losses to 7.5%. The price is down…
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Ukrainian officials are urged to disclose their cryptocurrency holdings as one of the national anti-corruption agencies publishes a manual on how to report crypto assets. The Ukrainian National Agency on Corruption Prevention (NACP) detailed how cryptocurrencies must be reported on yearly income declarations. Cryptocurrencies are categorized under the “intangible asset” section, though they are also…
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An Indian crypto analyst spoke to Cointelegraph about the Supreme Court’s landmark ruling against RBI’s ban on banks’ services to crypto firms. Earlier today, India’s Supreme Court delivered its verdict in a landmark case for cryptocurrency in the country. A bench of three justices ruled that the Reserve Bank of India’s (RBI) ban on banks’…
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Facebook’s Libra project could turn into a network that accepts a wide range of coins, including central banks-issued digital fiats. Despite previously released plans to develop its own digital currency, the social media giant and its Libra Association partners are now reportedly considering turning the initiative into a payments network – perhaps allowing the project…
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South Korean cryptocurrency exchanges have been suffering as trading volumes continue to remain low or stagnant in what was once one of the world’s busiest bitcoin (BTC) and altcoin markets. The downturn in trading has already seen many exchanges go out of business in recent months. And cryptocurrency industry insiders in the country have told…
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Beijing, China’s capital, has started piloting blockchain-based electronic invoicing in an attempt to reduce costs, Beijing Municipal Tax Service announced. A parking service operator already issued the municipality’s first blockchain invoice on Tuesday. Now in Beijing, all parking lots have opted-in to go paperless, as the municipality aims to “reduce operating Read more »Pay, Trade,…
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