Virtual Currency

Regulatory Roundup: Trump’s Cryptocurrency Proposals, IRS Changes Rule, China Quarantines Cash

</header> <strong>In this roundup, we cover numerous cryptocurrency regulatory developments in the U.S., including President Trump’s crypto proposals, testimonies by the Federal Reserve chairman and the Treasury secretary, a crypto-friendly SEC proposal, and the IRS changing a crypto tax rule. We also cover China quarantining yuan bills, its central bank filing 84 digital currency patents, …

Regulatory Roundup: Trump’s Cryptocurrency Proposals, IRS Changes Rule, China Quarantines Cash Read More »

84 PBOC Digital Currency Patents Show the Extent of China’s Digital Yuan

</header> <strong>The People’s Bank of China (PBOC) has reportedly filed 84 patents relating to its plans to launch a digital currency. The patents reveal the central bank’s plans which include integrating digital currency wallets into existing retail bank accounts. The potential for the Chinese central bank digital currency to achieve scale from the get-go has …

84 PBOC Digital Currency Patents Show the Extent of China’s Digital Yuan Read More »

Trump Views Crypto a Threat, Proposes Countermeasures in New Budget

</header> <strong>The White House released the Budget of the U.S. Government on Monday, outlining some proposals to increase cryptocurrency oversight which President Donald Trump views as priorities. The budget proposes giving the Treasury more power over crypto and requests funding for FinCEN to expand its efforts to combat threats including from cryptocurrency.</strong> Also read: Bitcoin, …

Trump Views Crypto a Threat, Proposes Countermeasures in New Budget Read More »

Hong Kong Crypto Exchange Bitspark Shuts Down Amid Coronavirus Outbreak and Protests

</header> <strong>Crypto exchange service provider Bitspark is shutting down next month despite reporting exponential growth following the launch of its cash point product. The CEO of the company explained that its internal restructuring has not worked out but insisted that the ongoing protests in Hong Kong and coronavirus outbreak have not affected his platform much.</strong> …

Hong Kong Crypto Exchange Bitspark Shuts Down Amid Coronavirus Outbreak and Protests Read More »

Indian State Government’s ‘Blockchain District’ Now Has a Dedicated Accelerator for Blockchain Startups

</header> <strong>The Indian state of Telangana has launched a blockchain accelerator in its recently created Blockchain District, in collaboration with Tech Mahindra. Selected startups will pitch innovative ideas and get mentored by experts from the Telangana government, Tech Mahindra, the Ministry of Electronics and Information Technology’s Centre for Development of Advanced Computing, and IIIT Hyderabad.</strong> …

Indian State Government’s ‘Blockchain District’ Now Has a Dedicated Accelerator for Blockchain Startups Read More »

US Government Auctioning off Bitcoins Worth $37 Million in 2 Weeks

</header> <strong>The U.S. government has opened registration for the bidding of over 4,040 bitcoins, currently worth more than $37 million, which will be auctioned off on Feb. 18. The winning bidder will be notified on the same day. These bitcoins were forfeited in various federal criminal, civil and administrative cases, the U.S. Marshals Service explained.</strong> …

US Government Auctioning off Bitcoins Worth $37 Million in 2 Weeks Read More »

41 German Banks Now Charge Negative Interest Rates

</header> <strong>The number of German banks charging negative interest rates has been rising rapidly. At least 41 banks now charge negative interest rates on deposits. According to reports, seven of them are imposing negative interest rates even for small deposit amounts.</strong> Also read: Survey: 58% of German Banks Charge Negative Interest Rates 41 Banks Charging …

41 German Banks Now Charge Negative Interest Rates Read More »

IRS Explains What Crypto Owners Must Know to File Taxes This Year

</header> <strong>Kicking off this year’s tax filing season, the U.S. Internal Revenue Service (IRS) has published important tips for crypto owners to properly file their tax returns. This is the first time a cryptocurrency question has been included in the tax form. The IRS expects more than 150 million filers to reveal whether they acquired …

IRS Explains What Crypto Owners Must Know to File Taxes This Year Read More »

US Presidential Candidate Andrew Yang Says Regulations Cannot Impede Crypto, Affirms Priorities

</header> <strong>Andrew Yang, who is running for U.S. president in the 2020 election, has explained what his priorities will be regarding cryptocurrency under his administration. He said that crypto investors are finding a way to make use of their investments and regulations cannot impede it. Yang advocates for a uniform, nationwide set of crypto regulations …

US Presidential Candidate Andrew Yang Says Regulations Cannot Impede Crypto, Affirms Priorities Read More »

Google Executive From India Joins Coinbase as Chief Product Officer

</header> <strong>A Google executive from India has joined Coinbase as the new chief product officer after 11 years at Google. He aims to help Coinbase make cryptocurrency mainstream. “I am excited about what crypto and blockchain technology can do to democratize our financial systems,” the executive said, citing his experience growing up in India and …

Google Executive From India Joins Coinbase as Chief Product Officer Read More »