Blame Banks for Damaging the Environment – Not Bitcoin

Op-Ed Another mainstream media outlet has published a piece warning of the dangers Bitcoin poses to the environment. We’ve heard these overly simplistic arguments countless times before. But even if one was to accept that Bitcoin’s energy consumption is substantial, the figure still pales in significance to traditional financial institutions, whose carbon footprint is colossal. Also read: South Africa Wants to Mandate Registration of Crypto Service Providers ‘Bitcoin Is Oil’ Journalist, former bitcoin miner, and current partner at crypto firm Ocuis, Read more …

US Crypto Investors Incurred $5.7 Billion in Unrealized Losses Last Year

Taxes The results of a survey published by Credit Karma estimate that crypto investors in the U.S. realized losses of approximately $1.7 billion during the previous tax season. Additionally, the report finds that U.S. investors incurred a further $5.7 billion in unrealized losses. Also Read: Plaintiff in AT&T SIM-Swapping Case Sues ‘Bitcoin Bandit’ for $81M US Cryptocurrency Investors Realized $1.7B in Losses During 2018 According to a survey conducted by Credit Karma, investors based in the United States realized a combined Read more …

What Are Crypto Executives Still Positive About After Massive 80% Drop?

By CCN.com: In 2018, with the exception of Bitcoin and several other crypto assets, the majority of cryptocurrencies fell by more than 90 percent against the U.S. dollar. Executives in the crypto space, especially those leading new initiatives and businesses in the emerging industry, believe that the bear market has presented companies with positive opportunities to rebuild the foundations of the asset class and the sector. Merits of a Crypto Bear Market The majority of blockchain projects developing protocols or Read more …

Lack of ETNs Keeps Wall Street Away From Bitcoin, Says CBOE Analyst Ed Tilly

Ed Tilly, CEO, president and chairman at the Chicago Board Options Exchange (CBOE), declared that there is a need for Bitcoin (BTC) exchange-traded notes (ETNs) in order for Wall Street institutional investors to join the crypto space. Financial newspaper Business Insider reported on Tilly’s comments on Jan.18. According to the aforementioned article, Tilly declared that “the growth of Bitcoin in listed markets is still hamstrung by the lack of a trading product geared toward mom-and-pop investors.” According to him, Bitcoin Read more …

Chilean Taxpayers Must Report Cryptocurrency Profits to Chilean IRS: Local Media

Chilean taxpayers must report their cryptocurrency profits to the Chilean Internal Revenue Service (SII), Spanish crypto media Diario Bitcoin reports on Jan. 17. The SII reportedly decreed in 2018 that digital currencies weren’t subject to Value Added Tax (VAT), but should still be considered when calculating annual income tax, as they fall into the definition of intangible assets. Because of this consideration, the dedicated income tax form 22 will reportedly include — for the first time — a special section Read more …

What’s The Difference Between Trump’s Immigration Compromise And a Communist Police State?

Donald Trump’s big announcement Saturday wouldn’t be the first time the word “compromise” was used as a euphemism for the government. Stealing even more of your money to pay for both big corporate political parties’ wish lists and all their friends and corporate sponsors. The big compromise is: Donald Trump gets to spend five billion dollars of not-his-money, on none-of-his-business, to solve not-the-taxpayer’s-problem. Image by Shutterstock. And in exchange for that, he will give the DACA kids, and other immigrants Read more …

Bitcoin Falls Towards $3,550 as Top Cryptos See Moderate to Major Losses

Sunday, Jan. 20 — all the top 20 cryptocurrencies are seeing moderate to major losses in the 24 hours to press time. Bitcoin’s (BTC) price is nearing $3,550 again, according to Coin360 data. Market visualization from Coin360 At press time, Bitcoin is down over 4 percent on the day, trading at around $3,587. Looking at its weekly chart, the current price is lower than $3,673, the price of Bitcoin on last Sunday. Bitcoin 7-day price chart. Source: CoinMarketCap Ripple (XRP) Read more …

Proposed License Requirements End Anonymous Crypto Selling and Buying in the Netherlands

Pete Hoekstra, the Netherlands’ Minister of Finance, has received official advice that a licensing system should be introduced for crypto services, Dutch media outlet Nederlandse Omroep Stichting (NOS) reports on Jan. 18. Hoekstra reportedly requested advice about cryptocurrencies from the Netherlands’ Authority for the Financial Markets and the local central bank, De Nederlandsche Bank, at the beginning of last year. The minister announced that he started working in accordance with the advice immediately after receiving it. According to the article, Read more …

Washington State County Doubles Down on Cryptocurrency After Mining Bust

After the boom, backlash, and (partial) bust of Bitcoin in central Washington, one might expect an aversion to the technology. But instead, one authority wants to capitalize on the resources left in the aftermath, to promote new growth in blockchain. A Story Sad To Tell Central Washington’s story is not uncommon in the cryptocurrency world. A cool climate and a shed-full of cheap hydro-electric power attracted speculators from as far away as China. The new cryptocurrency gold-rush promised a rebirth Read more …

Huobi Secures Its FSA License in Japan, Other Large Players Are Pending

On Jan. 17, Singapore-based cryptocurrency exchange Huobi, one of the largest players on the market, relaunched as a fully licensed platform in Japan after merging with the BitTrade exchange. Branching out to Japan, where compliance is valued and many regulatory measures are imposed for crypto players by domestic regulators, is a complex process. Here’s how Huobi entered the market, and which firms might soon follow suit. Specifics of the Japanese market and the FSA’s role in it Japan is one Read more …

Hacked Customer Data From World Leading Cryptocurrency Exchanges For Sale On The Dark Web?

Hacked KYC documents from top cryptocurrency exchanges are available on the Darknet. Image from Shutterstock. On a darknet market called “Dread,” a vendor going by “ExploitDOT” is attempting to sell user data from the know-your-customer (KYC) data top cryptocurrency exchanges ask for, required by most jurisdictions. According to data shared with CCN, the hacker has an ad that has been online since July 2018, in which he claims to have hacked documents used in KYC checks – including identity cards Read more …

Leaders of South Korean Crypto Exchange Komid Jailed for Faking Volume: Local Media

Two leaders of the South Korean cryptocurrency exchange Komid were reportedly sentenced to serve jail time for faking exchange volumes, Korean crypto media outlet blockinpress reports on Jan. 18. The exchange’s CEO, surnamed Choi, received a three-year sentence, while another company leader with an unspecified role was purportedly sentenced to two years imprisonment for fraud, embezzlement and misconduct, the article notes. The charges reportedly outline a scheme where the exchange faked 5 million transactions in order to inflate the volume, Read more …