Sovereign states and central banks could digitize paper money and be the concrete alternative to Libra. Paper money today is a marginal part of the currency in circulation and represents a direct relationship between the end user and the central bank. Its use is, however, unknown to the central bank; in a certain sense, it […]
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Crypto regulation in the U.K. is changing for the better, but can the country truly step up its game and build a blockchain friendly ecosystem? The United Kingdom has long been a financial mecca. Ever since the Big Bang and the arrival of Thatcherism in the ‘80s, Britain has cultivated a finance-friendly environment revolving around […]
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A Bitcoin investor is bringing a class action suit against an Israeli bank in light of their refusal to accept deposits of funds made from crypto trading. An unnamed investor has filed a lawsuit against the Israeli Bank Hapoalim in the amount of approximately $22.5 million, on account of the bank allegedly refusing to accept […]
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UK tax authority has reportedly asked digital currency exchanges to provide it with customers’ names and transactions data to locate tax evasion. The United Kingdom’s tax, payments and customs authority Her Majesty’s Revenue & Customs (HMRC) has reportedly requested that digital currency exchanges provide it with information about customers’ names and transactions aiming to identify […]
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Israeli Bitcoin investors are unable to pay their taxes as banks aren’t accepting deposits obtained from cryptocurrencies. Israeli Bitcoin (BTC) investors are unable to pay their taxes as banks do not accept deposits obtained from cryptocurrencies. Israeli banks freeze up the minute they hear “Bitcoin” Israeli newspaper Haaretz reports on Aug. 6 that local crypto […]
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The United States Internal Revenue Service is sending letters to crypto investors to apparently scare them into accurately reporting their crypto-related income. The United States Internal Revenue Service (IRS) is sending letters to crypto investors to apparently scare them into accurately reporting their crypto-related income. ‘Don’t Panic’ According to a Forbes report by crypto tax […]
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Bitcoin has been legally recognized as virtual property by a Chinese court not the country, though… Last week, Bitcoin (BTC) was legally recognized by a Chinese court, whereby it was concluded that the cryptocurrency should now be considered as digital property. The decision that the Hangzhou Internet Court made in a ruling was met with […]
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The U.S. congressional hearings on Libra may determine the future of the project. Here is what regulators think about Facebook’s crypto… This week is crucial for the future of Libra: Facebook’s cryptocurrency project will be subject to two back-to-back hearings in the United States Congress. First, the Senate Banking Committee will discuss the token on […]
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Regulatory pressures continue to have an effect on the most popular countries to mine cryptocurrencies. A move by the Iranian government to cut off the power supply to local Bitcoin (BTC) miners grabbed headlines in June amid a soaring price gain by the preeminent cryptocurrency. As Bitcoin surged to prices not seen since 2017, a […]
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Digital money has been gradually transforming the world’s charity landscape, involving governments and traditional nonprofits. The technology that underpins cryptocurrencies has been gradually entering the charity sector, purportedly providing more transparency and trust to the industry — especially given a decrease in people’s trust in charity organizations, where the public is increasingly concerned about how […]
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