Over the last few years, infighting and different visions has led to significant divides within the Bitcoin community, weakening the network effects no matter which chain you support. With all the arguments about scaling, privacy, consensus changes and the various forks, it is amazing that these public networks are still thriving. Nevertheless, the people who maintain the various software protocols that communicate with Bitcoin and the network’s many participants have lives that are finite — which means we don’t know if future generations will change the social contract Satoshi Nakamoto created years ago.
Venezuela Decrees Crypto Operators Must Pay Taxes in Cryptocurrencies
The Venezuelan government has published a decree requiring taxpayers with crypto operations in the country to pay their taxes in cryptocurrencies. Similarly, operators of foreign currencies must pay their taxes in those currencies. The decree states that the change is necessary for the “strengthening of the current fiscal regime.”
Also read: Indian Supreme Court Moves Crypto Hearing, Community Calls for Positive Regulations
Paying Taxes in Cryptocurrencies
The Venezuelan government published the official gazette No. 6,420 dated Dec. 28 on Monday, local media reported. It contains Decree No. 3,719 which outlines new tax payment rules for cryptocurrency operators. Dinero publication explained:
Crypto Influencers You Must Follow Part 1
Have you ever wondered what the world of crypto is about? You hear plenty about it in the daily news but you find it all a bit confusing.
You’re not alone.
There are thousands of people wanting to get on the crypto gravy train but find it too overwhelming.
As a marketing consultant to clients in the space, I’ve been involved in my fair share of crypto projects and I know enough to be dangerous. Here are a series of influencers that you should follow to help you become more confident in the world of crypto.
Bitcoin Bulls Must Push Price Past $6.8K to Win Control
Bitcoin’s price needs to pass last week’s high of $ 6,810 to revive the prospects of a rally.
CoinDesk
Venezuelans Must Now Pay Passport Fees with the Government’s Petro Cryptocurrency
Starting next week, Venezuelans will have to pay their passport fees with the petro, the controversial state-supported cryptocurrency that is allegedly backed by oil. This was announced in a press conference on Friday, Oct. 5, by the country’s vice president, Delcy Rodriguez, ahead of the coin’s official launch in November. This follows a similar press … Continued
The post Venezuelans Must Now Pay Passport Fees with the Government’s Petro Cryptocurrency appeared first on CCN
Regulators Must Lead On Blockchain: IBM Report
Blockchain reduces paper processes, speeds up transaction times, increases efficiencies and builds trust among participants to a transaction, according to Sept. 23 IBM report on how distributed ledger technology (DLT) can improve how the federal government does business. The report was authored by Thomas Hardjono, director of the MIT Trust: Data Consortium. It’s titled “The Impact of Blockchain for Government: Insights on Identity, Payments, and Supply Chain.”
Hardjono explores several areas where blockchain can benefit government agencies and how regulators and policymakers can lead the way to mass adoption of the tech that drives economic vitality.
Mt. Gox Victims Must Take Claims to Tokyo, Not US, Judge Rules
Since its implosion back in 2014, the Mt. Gox exchange hacks continue to loom large within the cryptocurrency ecosystem. The U.S. District Court for the Eastern District of Pennsylvania determined recently it does not have jurisdiction in a case involving Gox victims and a bank closely associated, in effect condemning victims to redress their grievances at the scene of the crime, Tokyo, Japan.
Also read: Philippines Okays PDAX Crypto Exchange
What Must Institutions Do Before They Can Accept Bitcoin
Now we know what Bitcoin needs to do before it can become more widely adopted by institutions, but we must also consider what these institutions need to do too.
What must Bitcoin do?
Well it’s simple, Bitcoin needs to find balance, a steady price and see consistent regulation (adoption). Institutions will need to make changes too. Aside from the obvious ones – adoption of Bitcoin wallets, access to Bitcoin technologies, computers, ATMs etc, they also need to be able to deal with the cultural aspects of Bitcoin, in terms of investment and of course, potential volatility.
Blockchain Must Adapt to Build Trust in the Internet of Things
While there is tremendous promise for the tech, blockchain must evolve substantially to meet the unique demands of the internet of things.
CoinDesk
The Crypto Community Must Use the Blockchain to Self-Police
The everyday crypto user in the future is likely to spend time identifying illicit wallets and transactions to avoid, thanks to the U.S. Treasury.
CoinDesk
The Challenges Bitcoin Must Overcome to Become a Global Currency
Bitcoin is a cryptocurrency that has become popular all over the world, but we can’t forget its early days. From the inception of Bitcoin, it’s been more like an experiment in a distributed currency and a target for online hackers. But right now, it has become a multi-billion dollar digital asset which is widely known, thus making all financial institutions express fear due to the fact that the reason for their existence is threatened.
However, in this article, we would rather take a detailed look at the challenges Bitcoin must face or overcome to become a worldwide currency and ensure corrupt politicians don’t have their way in controlling economic funds for their personal interests.
Congressional Hearings: We Must Distinguish Digital Commodities From ICOs
On March 14, 2018, the House Financial Committee held a hearing entitled “Examining the Cryptocurrencies and ICO Markets.” This was the first hearing in which members of the U.S. Congress, specifically a subcommittee on capital markets, securities and ICO markets, addressed cryptocurrencies and ICOs. Witnesses at the hearing included Dr. Chris Brummer, Professor of Law at Georgetown University Law Center; Mike Lempres, chief legal and risk officer at Coinbase; Robert Rosenblum, a partner at the Silicon Valley law firm Wilson Sonseni Goodrich & Rosati; and Peter Van Valkenburgh, the director of research at Coin Center.
New SEC Report: Cryptocurrency Exchanges Trading Security Tokens Must Register
The Securities and Exchange Commision (SEC) has issued a new report warning about the dangers of unregulated crypto exchanges and stated that all trading platforms exchanging digital assets that are considered securities must register with the SEC.
Does That Mean ALL Exchanges Have to Register with the SEC?
On March 7, 2018, the U.S. Securities and Exchange Commision (SEC) published a new report regarding the current state of cryptocurrency exchanges and the potential risks for investors. The report states that some ICOs, digital assets, and cryptocurrencies could be classified as “securities” and thus each trading platforms that exchange them must register with the SEC and comply with necessary regulations. The report states:
5 Important Facts About Cryptocurrency the SEC Says Investors Must Know
Unless you’ve been living under a rock for the past 4 months, you’ve probably at least heard about all those people who’ve either mortgaged their houses and struck it rich, or lost their life savings, by investing in crypto. Naturally, cryptocurrency’s disruptive properties have caught the attention of the US Securities and Exchange Commission (SEC) – which, unsurprisingly, has some opinions on the matter.
5 Things to Know About Crypto, Courtesy of the SEC
As noted by NASDAQ, Securities and Exchange Commission (SEC) Chair Jay Clayton shared his thoughts on cryptocurrency in recent months – which can largely be distilled into five important points.