Currency

Lawsuit Against Ripple May Decide the Fate of XRP but Regulators Have the Final Say

</header> <strong>A prolonged legal battle, which may hold the key to <a class=”lar-automated-link” href=”https://markets.bitcoin.com/crypto/XRP” target=”_blank” rel=”noopener noreferrer”>XRP</a>’s future, has been extended again. The class action lawsuit alleges that Ripple issued and sold the coin, one of the largest by market cap, as an unregistered security. The decision on the defendant’s motion to dismiss the lawsuit …

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Crypto vs RBI: 3 Days of Intense Supreme Court Hearings

</header> <strong>India’s supreme court heard the crypto case in detail over three consecutive days this week. In addition to intense arguments against the central bank having the power to ban crypto, the judges learned how other countries regulate this new sector, the amended EU directive, the FATF guidance, and less invasive crypto measures.</strong> Also read: …

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Is China’s New Fascination With Blockchain Really Good for Bitcoin?

</header> <strong>Blockchain development has kind of become an element of the party line in the world’s largest officially communist state. The General Secretary of the Communist Party of China, Xi Jinping, recently told a Politburo meeting that the People’s Republic has to gain an edge in the emerging field. Some say Xi’s statement brought back …

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Turkey Throws Another Wrench Into the USD’s Works and Joins Russian Swift

</header> <strong>The dominance of the U.S. dollar as the global reserve currency is being robustly challenged on all fronts. Other geopolitical powers and smaller but important players are unwilling to accept the political influence Washington exerts through its fiat money. And in times of trade wars, sanctions, and even tensions between allies, the push to …

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Central Banks Worldwide Testing Their Own Digital Currencies

<header class=”article__header”> </header> <strong>Central banks worldwide are examining the possibility of issuing a central bank digital currency (CBDC), with some already testing theirs for different uses. Countries that have advanced their digital currency projects include China, Singapore, Canada, the Bahamas, Thailand, Uruguay, and Sweden. India has also included the digital rupee in the country’s draft …

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China’s official digital currency is nearly ready

Sponsored Links AP Photo/Andy Wong As much as China frowns on cryptocurrency, it’s happy to introduce its own form of virtual cash. The People’s Bank of China has revealed that its digital currency “can now said to be ready” after five years of work. Don’t expect it to mimic crypto, however. According to payments Deputy …

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IRS reminds 10,000 taxpayers that cryptocurrency is subject to taxes

Sponsored Links Sarinya Pinngam / EyeEm via Getty Images By the end of August, an estimated 10,000 taxpayers will receive letters from the IRS warning them that they may owe back taxes on unreported cryptocurrency earnings. While it might not be immediately obvious, you must include cryptocurrency earnings when you file federal taxes. As with …

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The Bank of England will honor Alan Turing on its new £50 note

Sponsored Links Peter Byrne – PA Images via Getty Images The Bank of England has chosen Alan Turing, computing pioneer and a code-cracker during World War Two, to be featured on its new £50 note. Turing contributed significantly to the field of mathematics, but his achievements were not fully recognized during his lifetime as he …

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Georgia Exempts Bitcoin From VAT to Become the Next Country to Affirm Its Currency Status

</header> <strong>Cryptocurrency taxation is a subject that concerns a growing number of users, traders and investors. An area that creates a lot of confusion among taxpayers is the application of VAT, or the value-added tax most countries levy on the sales of goods and services. Georgia has become the latest nation to free crypto-fiat transactions …

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City of Dublin Ohio Plans to Launch Bitcoin Cash-Based SLP Token

<header class=”article__header”> </header> <strong>On July 1, Joshua Green, CEO of the Bitcoin Cash (<a class=”lar-automated-link” href=”https://markets.bitcoin.com/crypto/BCH” target=”_blank” rel=”noopener noreferrer”>BCH</a>) implementation Bitcoin Verde, told the <a class=”lar-automated-link” href=”https://markets.bitcoin.com/crypto/BCH” target=”_blank” rel=”noopener noreferrer”>BCH</a> community that the local government from Dublin, Ohio plans to mint a token using the Simple Ledger Protocol (SLP). The unnamed SLP token will be …

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