Bet vs. Buy? The ICO Market Has a Serious East-West Divide

In the U.S., initial coin offerings (ICOs) are about ideas. In the Asian market, they’re about returns. “At the very beginning, the information coming from Asia to the US was very limited. We didn’t know what’s really going on,” Zhuling Chen, co-founder of Aelf, a cloud computing startup out of Singapore, told CoinDesk. So the Asian market took off on its own, informed by the ecosystems around bitcoin and ethereum but also distinct from them, such as when major Asian banks launched distinct efforts starting in early 2016. Some of…

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Bitcoin Price Has Hypotehtical Value of $1,800: Federal Reserve Report

Get exclusive analysis and cryptocurrency insights on Hacked.com for just $39 per month. The Federal Reserve Bank of San Francisco released a report on May 18 discussing the volatility of the bitcoin price and its impact on the ways bitcoin should be classified, whether as a currency, security, or commodity. Joost van der Burgt, author of the publication and fintech policy advisor at the Federal Reserve’s San Francisco branch, confirms what many have already said: that bitcoin straddles the properties of all three asset classes. However, he draws interesting points over…

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India’s Tax on Cryptocurrency | What are the Main Points of the Proposal?

India’s Tax on Cryptocurrency: Bloomberg announced yesterday that India may soon impose an 18% GST on cryptocurrency transactions despite the country’s legal ambiguity. At present, the Intermediate Indirect Tax and Customs Committee are reviewing the proposal and submit it to the GST Council after completion. As mentioned above, digital assets can be categorized as “intangible goods” just like other software systems, and the agency added that separate laws will be introduced to deal with the use of cryptocurrencies for criminal activities. According to informed sources, the income tax department has realized the importance…

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Bank of America Adds to Growing List of Blockchain Patents

Get exclusive analysis and cryptocurrency insights on Hacked.com for just $39 per month. Blockchain is finding more implementation in the mainstream and Bank of America (BoA) is at the forefront of a group of legacy companies that are using Distributed Ledger Technology (DLT) to validate the veracity of information and those using it. A Security-inclined Blockchain Recently, the bank won another blockchain patent, adding to its growing list of patents in the emerging technology. This recent patent, whose inventors are identified as Kurian and Manu Jacob,is described in abstract as:…

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Coinbase Is Rebranding Its Crypto Exchange Service

Coinbase announced Wednesday that it is launching a new version of its GDAX platform called Coinbase Pro and acquiring crypto trading relay platform Paradex. The new platform seeks to “make the trading experience easier and more intuitive,” according to the startup. Other features include a new chart system which provides streamlined access to historical data and a consolidated portfolio view. Beyond simply trading assets, Coinbase Pro aims to provide a host of new features for investors, according to the release, which reads: “Our vision is to give customers the ability…

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Crypto Investment | A Consideration For US Department of Defence

Bloomberg reported on May 22 that recognizing Bitcoin as a form of foreign currency may have an impact on the decision of the US Department of Defense (DoD) to recruit new employees. The Pentagon’s biggest concern is whether an investment in cryptocurrency indicates criminal intent or the tendency to increase dangerous personal behavior. This may adversely affect the personal image of a job seeker during security checks that the Defense Department conducts. >>Crypto Superheroes: Blockchain & Cryptocurrency Heroes Using Their Superpowers for Good At present, the U.S. Department of Defense…

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Federal Reserve President Neel Kashkari On Crypto

Minneapolis Federal Reserve President Neel Kashkari has loudly discarded the cryptocurrency market’s potential to survive long-term, saying it has become a “farce” due to unregulated chaos and escalating fraud.   Cryptocurrency market has been in the state of freefall over the last two weeks potentially die to experts bashing the markets.  Bitcoin price (BTC) plunged below the $8,000 level today while altcoins have also lost the gains they generated earlier this month. The Minneapolis Federal Reserve President, however, expects the market crash to intensify in the days to come. Source Image: coinmarketcap.com…

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India Cryptocurrency Tax Proposal | Tax Would Be 18% Under GST

India Cryptocurrency Tax Proposal: India has proposed a crypto tax in the form of GST or the Goods and Services Tax. A proposal was created to implement an 18% GST on cryptocurrencies. India Cryptocurrency Tax Proposal Annonymous sources told Bloomberg that the India cryptocurrency tax proposal would consider cryptocurrencies as goods and, thus, taxable. Those who are “facilitating transactions like supply, transfer, storage, accounting, among others, will be treated as services” and so will also receive the 18% crypto tax. Miners, wallet providers, and exchanges will all be considered taxable under…

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The Marshall Islands | Issues its Own Legal Tender Cryptocurrency

The Government of the Marshall Islands is becoming a world reference in the adoption of cryptocurrency thanks to the official promulgation of the Declaration And Issuance Of The Sovereign Currency Act. A legal tender cryptocurrency that could change the current situation regarding the valuation of cryptocurrencies. According to information revealed by Ran Neuner, Host of Crypto Trader, a show broadcasted by CNBC Africa, the document was signed on March 1, 2018, as a final step in a series of efforts made by the country to migrate to cryptos, mitigating its…

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Bitcoin Price Falls to $7,800 as Cryptocurrency Market Drops $27 Billion Overnight

Join our community of 10 000 traders on Hacked.com for just $39 per month. On yesterday’s report, CCN emphasized that if the bitcoin price falls below the $8,200 resistance level once again, a reentry into the $7,000 region is inevitable. Over the past 24 hours, the bitcoin price dropped by around 4 percent from $8,300 to $7,850. Bitcoin Price Trend As CCN previously reported, the recent correction of the cryptocurrency market can be attributed to three major factors: Mt. Gox sell-off in early May, Bitfinex taxation policy, and scandal involving…

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