Is Facebook’s escalating effort in crypto industry hitting its competitor, Twitter.? Well, Twitter CEO Jack Dorsey is eagerly stepping ahead with his Square crypto project. [...] The post Twitter CEO’s Square Crypto on Fire To Boost Bitcoin Adoption ‘Inevitable’ appeared first on Coingape.
Cryptopia which suffered a hack attack recently has left a lot of people bankrupt. The security breach led to a loss of about $23 million. [...] The post Unconfirmed: Cryptopia Founder is Likely to Launch a New Exchange Soon appeared first on Coingape.
Eric Swalwell, a United States Democratic presidential candidate for the 2020 elections, has launched a crypto donations campaign
The self-proclaimed Satoshi Nakamoto, Craig Wright has filed copyright registrations for the Bitcoin whitepaper and the original Bitcoin code with the US Copyright Office. The office has seen Wright as an author, making it the first government agency to do so. Wright = Satoshi? The crypto industry, like most industries, isn’t one that can escape controversy and Craig Wright is no exception. Wright saw his claims to the crypto throne (not the iron throne though) culminate this week after he was granted copyright claims to the original Bitcoin whitepaper and software code. According to the official website of the US Copyright Office, Wright’s claim has been registered on 20th May. the Copyright Office granted Wright two copyrights, one for the whitepaper called “Bitcoin: A Peer-to-Peer Electronic Cash System,” and the other for “Bitcoin”, as in the original code for the cryptocurrency. CoinGeek has reported: “Wright is now legally establishing that he is Bitcoin’s creator after being dismayed to see his original Bitcoin design bastardized by protocol developer groups—first by Bitcoin Core (BTC) in 2017 and then again by Bitcoin Cash (BCH) developers in 2018.” The registration recognises that Wright is an author of the whitepaper under the name Satoshi Nakamoto, as well as being responsible for writing “most of version 0.1 of the Bitcoin client software.” The president of nChain, Jimmy Nguyen recognised the whitepaper and has said: “Better than anyone else, Craig understands that Bitcoin was created be a massively scaled blockchain to power the world’s electronic cash for billions of people to use, and be the global data ledger for the biggest enterprise applications.” CoinCenter’s Neeraj Agrawal was the first to break the news, posting this on Twitter: Craig Wright filed a copyright registration for the Bitcoin whitepaper https://t.co/aIvg2BbmL2 pic.twitter.com/TVdU62TRRv — Neeraj K. Agrawal (@NeerajKA) May 21, 2019 If Wright’s claim is found to be false though, it wouldn’t have a big consequence as no company has ever been procescuted for false copyright registration before, which is technically punishable by a fine of up to $2,500. Just like the venture capital lawyer Chris Harvey points out: “False copyright registration is "copyfraud". Unfortunately, no private right of action exists under relevant US copyright law, 18 U.S.C. § 506(e). Violations are punishable by a fine of up to $2,500. No company has ever been prosecuted for violating this.”
XRP-USD The outlook price performance of (XRP) is trending in an ascending channel; reflecting an uptrend that has been buttressed by the moving averages, which are also moving in an upward manner. The 7-day MA is seen above the 21 day MA indicating bullish momentum. The bears seemed to have the upper hand since XRP […] The post XRP, EOS, and Stellar (XLM) Price Analysis and Forecast appeared first on ZyCrypto.
When Bitcoin first launched in 2009, it was conceived as a borderless currency that was unaffected by the rules, regulations, and bureaucracies of central governments. It was built to be a free-standing currency, ideally suited for facilitating commerce in the digital age. Having cut out the institutional middleman, many crypto investors never considered that they would have to pay these people anyway in the form of crypto taxes. Of course, crypto taxes are a reality for investors around the world. While crypto will now play a prominent part in the future of finance, it is still connected to today’s institutions. These taxes and governmental expectations vary by region, country, or even state, but a broad look at the crypto tax landscape has one thing in common – everyone will pay what they owe. Here is a look at the current state of crypto taxes around the world. United States According to the Internal Revenue Service (IRS), the U.S. government organization responsible for tax law, virtual currencies are treated as property, making them taxable based on their annual appreciation or depreciation at tax time. Moreover, the U.S. government doesn’t recognize digital tokens as currency, so the tax laws don’t make any provisions for currency conversion tax incentives. Consequently, U.S. crypto investors can be taxed for buying a digital token that appreciates in value, mining virtual currencies, and receiving cryptocurrency in exchange for goods and services. Each of these episodes requires the token owner to report the fair market value in U.S. dollars for the token at the time of the sale using published exchange rates to determine their value. This complicated process is a considerable burden to crypto users, and many have vowed not to report or pay taxes on their digital assets. Meanwhile, the more legally-minded users are turning to cryptocurrency accounting software to automatically generate these records with price conversions in an auditable, tax-friendly report. The expanding crypto ecosystem and the stagnant U.S. tax policy has made crypto portfolio tracking a veritable must-have service for users the United States. Europe Although the European Union consolidates many of its laws, the countries have radically different financial policies and tax codes. Consequently, they’ve taken a decentralized approach to crypto taxes, something that could benefit investors in some countries while impairing interest in others. For example, in Germany, Bitcoin isn’t subject to a capital gains tax, which protects investors from paying significant sums when their tokens appreciate. While German citizens are required to pay income tax on cryptocurrencies purchased within one year, they are exempt from this tax after one year. Interestingly, Switzerland, often known as a bastion of open finance, has more stringent tax policies for crypto investors that require them to pay income tax, profit tax, and wealth tax. To put it simply, the laws across the E.U. vary considerably, and it’s unlikely that there will be a concerted effort to centralize these policies anytime soon. Asia Cryptocurrencies have been indelibly popular in Asian nations, which have taken different approaches to the new technology. For instance, in Japan, where cryptocurrency is legal for making payments, digital tokens are taxed as commodities that are subject to income tax, capital gains tax, and company tax. While the country has made it easier for crypto users to file taxes, which can range from 15% to 55%, users still endure a complicated process since they are required to pay taxes on asset and conversion gains. Other nations, like South Korea, are looking at the entire crypto ecosystem as an opportunity to derive financial benefit by taxing both digital currencies and ICOs. Regardless of location, central governments don’t want to miss out on the tax revenues made possible by the crypto ecosystem that includes digital token appreciation, crypto payments, crypto mining, and other ancillary features. As these assets become more ingrained in traditional financial systems, these tax laws are unlikely to abate, although they may become more consolidated and understandable with time. It may be tricky to navigate today’s mismatched and complicated tax system, but the taxes themselves are a reminder of one important reality – crypto is here to stay, and users should decide on their best practices for navigating this landscape because it’s unlikely to change anytime soon.
Stellar Lumens (XLM) has just nosedived below the 200 day moving average and is now likely to decline all the way towards the 50 day moving average and eventually lower to test the next support. The daily chart for XLM/USD shows that the price has failed to close above the resistance at $0.147. It did paint a wick well above it but the daily candle ended up closing below that level soon afterwards. RSI on the daily time frame points to increasing risk of a sharp decline at least below the $0.12 mark and very likely below $0.10 as the price revisits the support at $0.095. We have seen many cryptocurrencies form a golden cross these past few weeks but XLM/USD was one of those that did not. That being said, it did not stop it from rallying along with the rest of the market. The price of Stellar Lumens (XLM) is now at an interesting point as it has failed to break past the key resistance and it has only one way to go and that is down especially if it ends up closing below the 200 day moving average. Volume has continued to decline except for the irregular green bars seen over the past few weeks when the price pumped for no particular reason. The phase of bullish euphoria that saw the cryptocurrency market explode in a matter of days seems to have come to an end. Retail bulls appear to be more cautious now as XLM/USD is at risk of significant further downside. Even though Stellar (XLM)’s long term prospects appear to be more promising than ever at this stage, that does not mean that the price could not see further downside short term. As Bitcoin (BTC) begins its next downtrend, altcoins like Stellar Lumens (XLM) are expected to be hit the hardest. Stellar (XLM) broke key trend line support against Bitcoin (BTC) as it broke below the large falling wedge that many were expecting to break to the upside. This has now put XLM/BTC in a tough spot as the price has already tested this trend line as resistance and faced a strong rejection. The daily chart shows that the price has just put in a lower high which could now be followed by a lower low. This lower low could push XLM/BTC to a new yearly low in the months ahead. The cryptocurrency saw a steady rise in interest when it ended up on Coinbase and changed its logo. Stellar Founder, Jed McCaleb was previously Ripple CTO before he founded Stellar Lumens (XLM). Since then Ripple (XRP) and Stellar (XLM) have become competitors and with Stellar (XLM)’s vision of empowering end users instead of empowering middlemen, we could see Stellar (XLM) gain rapid adoption during the next bullish cycle. Development activity on the Stellar blockchain is on the rise even during the bear market. We might see Stellar (XLM) go down with the rest of the market short term but long term, this a promising project to keep an eye on.
Bitcoin Technicals Hint At Impending Pullback At last, upward momentum for Bitcoin (BTC) has finally begun to slow. During this bout of non-action, analysts across the board have been doing their best to determine what’s... The post Bitcoin Stuck In $7,000s: Analysts Claim BTC Could Collapse To The $5,000s appeared first on Ethereum World News.
Bitcoin Despite the fact that Bitcoin (BTC) has just shed $300 in under a few hours, breaking under the $7,800 support level yet again, many are still bullish on the cryptocurrency. The fact of the... The post Traders Eye $10,000 As Bitcoin (BTC) Steadies Around $7,900 appeared first on Ethereum World News.
Ethereum World News: Binance Records ATH in Trading Volume. Stats are “Much Higher” Than The Peaks of 2017
The crypto market is registering records of popularity, indicating that the bearish season seems to be over. After Ethereum experienced a historic increase in its transactions, Binance seems to prove that the hype in the... The post Binance Records ATH in Trading Volume. Stats are “Much Higher” Than The Peaks of 2017 appeared first on Ethereum World News.