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The authorities in the island nation of Mauritius plan to start issuing custodian licenses to companies holding digital assets on behalf of clients. The financial regulator said the existing licensing regime is not suited for that purpose, although licensees under the new rules will have to comply with similar requirements.
Also read: Abu Dhabi Exchange to Create Infrastructure for Crypto Assets
The Information Reporting Program Advisory Committee is a body which was established before the Internet was a major consumer network and is a result of federal government reorganization and, importantly, efforts to modernize and improve the IRS brought about by the Omnibus Budget Reconciliation Act of 1989. The committee periodically suggests actions the IRS needs
The post IRS Advised to Provide Better Guidance on Cryptocurrency Transactions appeared first on CCN
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The post RigoBlock Announces Token Sale to Provide Decentralized Asset Management For All appeared first on CCN
Binance, the world’s largest cryptocurrency exchange, recently announced the beta launch of Info 2.0, a learning portal designed to enable users to quickly learn about each project and the network and services it provides. “Announcing Binance Info 2.0” by @binance https://t.co/dyGpfazfXr — Binance Info (@Binance_Info) September 20, 2018 According to the announcement, Info 2.0 currently has […]
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The post Sun Exchange, Powerhive to provide cryptocurrency-funded energy to rural Africa appeared first on CoinReport.
The digital content space has a host of problems related to transparency, centralization, and hype, making it difficult for creators to deliver and receive both actual value to users and rightful revenue from platforms that distribute their content. Newly developed blockchain use cases in the industry are emerging to combat these problems.
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Digital Content Is a Mess
A coconut farmer in Papua New Guinea has used a drone powered by blockchain and artificial intelligence, and charged by renewable energy, to count his yield in a unique trial conducted in the Pacific island nation. The UK-based started Flyingcarpet went to Papue New Guinea’ capital city then travelled four hours to get to the small village of Kokopo to conduct this trial last year. Farming employs more people in developing nations than any other industry, yet innovation within the sector is lacking. Julien Bouteloup, an entrepreneur and blockchain technology developer with university degrees in electrical engineering and AI machine learning, came up with the idea for Flyingcarpet whilst travelling last year to more than 20 countries.
In the last 24 hours, $ 7 billion worth of bitcoin (BTC) was traded globally. That’s according to data provided by Coinmarketcap, the industry’s go-to aggregator of cryptocurrency data. Not everyone agrees with that figure however. “Honest Coinmarketcap” is a new project that aims to set the record straight and do away with inflated trade volumes.
Also read: Study Finds $ 3B Worth of Faked Cryptocurrency Volumes and Wash Trades
Auctus, the world’s first blockchain based retirement plan platform, has entered a collaboration with Bancor to provide continuous liquidity for its token holders.
By integrating the Bancor ProtocolTM and joining the decentralized liquidity network, AUC tokens will be available in the Bancor Web App along with BNT (the Bancor Network Token
), STORM, OMG (OmiseGO), and a long list of partners using the Bancor Protocol. All the integrated tokens can be automatically converted to any other using MetaMask.
Auctus will activate a Token Relay with around 1% initially of its circulating token supply (exact percentage will depend on the ETH/USD rate and amount raised) within two weeks following the successful completion of the Token Sale.
Blockchain and cryptographic assets research company Brave New Coin has announced a partnership with Empiricus, one of the largest financial publishers in South America. Empiricus will leverage BNC’s market data to inform the region’s investors, academics, and crypto enthusiasts on macro and microeconomic movements, and cross-industry trends.
CEO of Brave New Coin, Fran Strajnar explained: “Recent data tells us Brazil is home to twice as many bitcoin investors than stock market investors — and that’s before we even consider other types of coins or crypto assets. As the second largest economy in the Americas and a bustling hub for entrepreneurs, enterprises, and investors, it’s imperative that accurate market data is available to inform decision-making and facilitate financial independence. BNC’s work with Empiricus is a major step towards our goal to provide globally-accessible data that can help anyone, anywhere better understand the crypto market.”
Popular cryptocurrency exchange Coinbase has been forced by court order to hand over thousands and thousands of its customers’ names and assorted personal information to the US Internal Revenue Service (IRS) in the agency’s effort to collect tax.
Also read: How To Regain Control From Nanny Zuck
“Received notice from Coinbase today,” Tweeted Andreas Antonopoulos, “that my account is one of the 13,000 that they will have to turn over to the IRS under the court order. Not surprised, I knew I would be in that group. In case you were wondering, I’ve filed & paid taxes for my bitcoin income, gains/losses.”
We love getting points. Especially through credit cards. It feels like we’re getting free stuff when we buy items with points. And credit card points are a part of a larger ecosystem called loyalty reward programs. These programs can be as simple as a punch card where your 11th burrito is free or as involved as airline miles and credit card points.
Loyalty programs are advantageous for companies for two main reasons. The first is it encourages brand loyalty. You’re more likely to go to the same coffee shop if you know that if you buy enough coffee, you’ll eventually get some for free.
Online shopping is an immense industry in China, with hundreds of millions of users and worth over $ 670 billion last year. Some of the largest e-commerce markets on the planet are targeted at Chinese consumers, and their spending power is growing. Payment convenience is a key component of the success of online marketplaces, and Ripple intends to facilitate that with new partnerships in the country.
In an announcement on the Ripple company blog yesterday, the San Francisco-based blockchain firm stated that it was entering into partnership with a leading Chinese money service company. Lianlian International is a Hong Kong licensed operation with 150 million users in the region.
At least two US institutions have requested that the IRS propose a definitive structure for taxing cryptocurrencies in the country.
As authorities see the lucrative appeal of virtual currencies, they also see that they can benefit from this wealth in some way, specifically through taxing crypto holders.
However, even though cryptocurrencies may only have been thrust into the mainstream spotlight last year, taxation queries are not as recent. According to CNBC, Tyson Cross, a US-based tax attorney, began assisting clients with declaring their digital currencies from as early as 2013.
His clientele has continued to grow, along with interest in the industry. Cross said:
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News outlets are claiming that Chinese regulators have outright banned ICOs and EOS release an update and state that the development is ahead of schedule.
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