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IRS Prioritizes Cryptocurrency, Now First Question on 1040 Tax Form
22.8.2020
The new U.S. tax form is out and the cryptocurrency question is the first one on the main 1040 tax form used by about 150 million people to file their taxes. The Internal Revenue Service (IRS) requires all tax filers to declare whether they have received, sold, exchanged, or acquired...
Former RBI Governor and IMF Chief Economist Sees Value in Bitcoin and Facebook Libra
22.8.2020
Raghuram Rajan, former governor of the Reserve Bank of India (RBI) and chief economist at the International Monetary Fund (IMF), sees value in bitcoin, cryptocurrencies, and Facebook-backed libra alongside central bank digital currencies. Former RBI Governor’s View on Bitcoin, Crypto,...
Why the Rise of the CBDC Is Bad for Your Privacy
22.8.2020
Like, hate, or fear them, central bank digital currencies (CBDCs) are on their way. There will be no stopping them. From Sweden to Thailand and China to Canada, governments the world over are experimenting with CBDCs. While most are being undertaken as pilots at this stage, China’s is all...
Grayscale’s Litecoin and Bitcoin Cash Trusts Trade for Tremendous Premiums
22.8.2020
This week data from Arcane Research shows there’s been massive demand for Grayscale’s recently launched publicly traded crypto trusts. Following the trusts getting DTC eligibility last monday LTCN (litecoin) shares have been selling for a 753% premium while BCHG (bitcoin cash) shares...
Nigeria’s Foreign Currency Crisis Boon for Bitcoin: Country Tops Wallet Downloads Ahead of the US
21.8.2020
Nigeria’s weakening naira currency, as well as the shortage of U.S. dollars, are forcing businesses to switch to bitcoin as the means of settling payments for international transactions. Nigerian businesses need the American currency to buy new supplies, as well as to order essential...
Rich Dad, Poor Dad Author Says ‘Major Banking Crisis Coming,’ Praises Bitcoin and Gold
21.8.2020
Robert Kiyosaki, the author of the best-selling book “Rich Dad, Poor Dad,” explained this week that time is running out as a “major banking crisis is coming fast.” The best selling author says now is “not a time to think about it” and said people should start...
John McAfee Ditches Ghost Crypto Project: He Says It Will Fail
21.8.2020
Two-time U.S. presidential candidate John McAfee has announced that he is leaving the ghost cryptocurrency project, claiming that it will fail “without a doubt” and his reputation has been damaged. His Ghost phone service, however, will be launched as planned, he emphasized, adding that...
OCC Chief Says Americans Gravitating Toward Digital Currencies: Urges Banks to Embrace Innovation
21.8.2020
Brian Brooks, the acting comptroller of currency at the U.S. Office of Comptroller of Currency (OCC), says America must adopt digital currency payment rails if the country hopes to compete with global payment rails in the future. He insists changing consumer needs must be prioritized over...
Hollywood Royalty Flexes Crypto-Art Goals: Ashton Kutcher Auctions NFT Digital Art for ETH
21.8.2020
Actor and venture capitalist Ashton Kutcher’s first attempt at digital art, an awful piece titled “The Eye of the Beholder”, is auctioning at Cryptograph. At the time of writing, the highest bid stood at 13.26 ethereum, or about $5,400, with a day to go before the sale ends....
Onecoin Allegedly Tied to Racehorse Firm, Phoenix Thoroughbreds Removed from France Galop Race
21.8.2020
Last week the firm Phoenix Thoroughbreds was reportedly banned from horse racing in France over the founder’s alleged involvement with the crypto Ponzi scheme Onecoin. Last November, Onecoin cofounder Konstantin Ignatov, the Cryptoqueen’s brother, told New York prosecutors Phoenix...
Russia and China De-dollarization Approaching ‘Breakthrough Moment’
20.8.2020
China and Russia are collaborating to reduce their dependence on the U.S. dollar. Trade settlements in USD between the two countries have fallen below 50% for the first time. De-dollarization in Russia and China The dollar’s share of trade between Russia and China was only 46% of settlements...
12 Crypto Firms Authorized to Operate License-Free in Hawaii for Two Years
20.8.2020
The U.S. state of Hawaii has authorized 12 cryptocurrency companies to start operating in the state without needing a money transmission license. No action will be taken against them for conducting unlicensed money transmission activities for two years. Hawaii Green-Lights 12 Crypto Firms Several...
Yearn Finance Token Jumps 270% in 5 Days – Defi Token YFI Worth More Than a Single Bitcoin
20.8.2020
Decentralized finance (defi) continues to make waves this week, as the Yearn Finance project token (YFI) jumped over 270% during the last five days. The digital token is worth more per coin than the price of bitcoin today, as the asset is currently trading for $15,934 per YFI. It’s very rare...
US Says North Korea Has 6,000 Hackers: Many in Belarus, China, India, Malaysia, Russia
20.8.2020
North Korea allegedly has about 6,000 hackers, many of whom operate abroad, according to a recent report published by the U.S. Army. The infamous Lazarus Group, thought to be linked to a number of cryptocurrency exchange hacks, is among them. North Korea’s Bureau 121 The U.S. Army recently...
Japanese Court Orders Seizure of Cryptocurrency Linked to Coincheck Hack of 2018
20.8.2020
A court in Tokyo, Japan has ordered the seizure of crypto assets that have been traced back to the Coincheck hack of January 2018, The Japan Times reported Wednesday. More than $530 million worth of the NEM (XEM) cryptocurrency was stolen from the exchange two years ago in what turned out to be...
China’s Bitcoin Mining Industry Impacted the Most This Year, Says Report
20.8.2020
The researchers and analysts from Tokeninsight published it’s “2020 Q2 Cryptocurrency Mining Industry Report” which shows the industry has grown exponentially during the last six months. The findings indicate cryptocurrency mining has expanded a great deal but China’s...
Hash Watch: Bitcoin Cash Miners Begin Signaling Node Implementations
20.8.2020
There’s 88 days left until the Bitcoin Cash upgrade scheduled for November 15, 2020, and the community has been watching miners closely. On August 18, the Bitcoin ABC team published a blog post that revealed a “feature freeze is now in place,” as it contains a new coinbase rule....
Massive $2,000,000 Prize Pool in the Biggest Ever Promotion Launched on Bitcoin Games
20.8.2020
One lucky spin can propel your bet into a 5,000X multiplier, churning out huge amounts of money. Read on to find out how. Win Every Day Bitcoin Games, our very own cryptocurrency gaming portal, has teamed up with the popular games provider Pragmatic Play to bring a $2 Million tournament promotion...
NSA Whistleblower Edward Snowden Was Paid $35k to Discuss Bitcoin
19.8.2020
The notorious NSA whistleblower, Edward Snowden, was paid to discuss bitcoin and other digital assets at virtual conferences, according to a new court filing called “Edward Snowden Speaking Engagements 2015-2020.” Snowden has always been a supporter of digital currencies and during...
South African Regulator Pressures Bitcoin Investment Company, Urges Clients to Request Refunds
19.8.2020
An embattled bitcoin investment company, Mirror Trading International (MTI)’s troubles took another twist August 18 after the South African regulator, Financial Sector Conduct Authority (FSCA) said that it is investigating the investment company. MTI’s latest conflict with the regulator...