South Korea Denies Rumors of 10% Tax on Cryptocurrency Trading Profits

The South Korean government’s Ministry of Strategy and Finance has refuted a recent news report that claimed authorities are preparing to levy a 10% capital gains tax on cryptocurrency profits. On June 22, domestic media outlet Chosun cited a ‘high-ranking government official’ to claim that the government was preparing to slap a flat 10 percent tax rate on profits from cryptocurrency returns irrespective of the size of the investment. “We have already decided to tax profits from investments in cryptocurrency,” Read more …

China’s New Crypto Rankings – EOS First, Ethereum Second, Bitcoin Drops to 17th

Finance The ranking of cryptocurrency projects by the Chinese government has been revised with two new crypto projects added. EOS tops the overall list of 30 crypto projects; Ethereum fell to second place while Bitcoin dropped to 17th place. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space China Now Ranks 30 Crypto Projects China’s Center for Information Industry Development (CCID), under the Ministry of Industry and Information Technology, has revised its crypto project rankings. The second monthly Global Public Read more …

Overwinter is Coming: What to Expect After Zcash First Hard Fork?

The first ever hard fork of privacy-oriented cryptocurrency Zcash is little more than a day away. The upgrade is called Overwinter and it will take place at block 347,500. What is Overwinter? Overwinter is set to become the very first hard fork for Zcash. Its purpose is to fortify the existing protocol for future upgrades. Designed to activate at block 347,500, which, assuming 150 seconds/block rate, should happen on June 26th, the upgrade will require all users to update the Read more …

Ethereum Price Analysis: Can ETH/USD Recover Further

Key Highlights ETH price declined further and broke the $440 level before recovering against the US Dollar. There is a significant bearish trend line formed with resistance at $460 on the hourly chart of ETH/USD (data feed via Kraken). The pair is struggling to break the trend line and resistance at $460-470, which is a bearish sign. Ethereum price is facing tough challenges against the US Dollar and Bitcoin. ETH/USD remains in a downtrend as long as it is below Read more …

Bahamas is Launching a State Backed Cryptocurrency, is it Legitimate?

As Freeport, Grand Bahama Island continues its quest to become the Silicon Valley of the Caribbean by hosting the 2018 Bahamas Blockchain and Cryptocurrency Conference its central bank has announced plans to pilot a digital currency. Bahamian Dollar to go Digital Deputy Prime Minister and Minister of Finance, the Hon. K. Peter Turnquest made the announcement during the conference as he spoke about his wishes for Grand Bahama to become a digital hub, saying:  “The production of a modern fully Read more …

Cryptocurrency Market Update: Monero Bounces From Eight Month Low

A bounce has happened, altcoins recovering quickest include Monero, Ontology, Ethereum Classic and Decred. As expected some sort of bottom has been reached and a rebound has occurred, whether this has any momentum to reverse the long term bearish trend is anyone’s guess but at the moment it is looking unlikely. After reaching a 2018 low of $235 billion yesterday markets have recovered a little. Bitcoin hit the yearly bottom of $5,826 a few hours ago before a bounce back Read more …

Cardano (ADA) Price Watch: Several Upside Barriers

Cardano Price Key Highlights Cardano price continues to trend lower as it moves inside a descending channel on the 4-hour time frame. Price is also trading below a short-term descending trend line to reflect a steeper slide. If this trend line continues to hold, Cardano price could fall below the larger channel support. Cardano is trending lower and might be due for a downside break of the nearby support zone. Technical Indicators Signals The 100 SMA is below the longer-term Read more …

Bitcoin Cash Price Analysis: BCH/USD Testing Crucial Resistance

Key Points Bitcoin cash price declined further and traded towards the $650 level against the US Dollar. There is a major bearish trend line in place with resistance at $765 on the hourly chart of the BCH/USD pair (data feed from Kraken). The pair is currently trading near a major resistance at $750-770, which is acting as a barrier for buyers. Bitcoin cash price extended declines below $700 against the US Dollar. BCH/USD is currently correcting higher, but it is Read more …

Bitcoin (BTC) Price Watch: Are Bears Back in the Game?

Bitcoin Price Key Highlights Bitcoin price broke below the latest swing low to confirm that selling pressure remains. Price is testing one of the Fibonacci extension levels and could head to the next ones from here. Technical indicators are giving mixed signals but the overall downtrend remains intact. Bitcoin price is resuming the slide and bearish pressure could pick up now that it broke below the $6,050 swing low. Technical Indicators Signals The 100 SMA is safely below the longer-term Read more …

Tron Independence Day Explained: What’s at Stake for a $3 Billion Crypto

One year and nearly $3 billion later, the Tron blockchain is set to finally put its much-debated technology to the test. At least, that’s what should happen Monday, when Tron completes the token swap it began last week, migrating the last of its users’ funds from ethereum to a new proprietary blockchain. For investors, the moment marks a historic “independence day” of sorts, but it could more broadly become a make-or-break moment for the project, which though controversial, already finds itself among the Read more …

So Hard to Say Goodbye: Blockchain.Info Goes Dot Com

News One of the oldest, most respected sites in the cryptosphere, Blockchain.info (Info), is moving domains. For many ecosystem veterans, Info was where it all started. First wallets. First block exploration. First real interaction with cryptocurrency. Recently, the group announced its move and plans for the future. It’s also a change signaling maturation of the space. Also read: Supremes Uphold Cell Privacy, Hope for Ross Ulbricht Blockchain.Info Moving to Blockchain.com “Later this month,” a notice on the Blockchain.info blog of Read more …

Ethereum Price Drops to 2.5-Month Low Below $430

The price of ethereum, the world’s second largest cryptocurrency by market capitalization, dropped to a 74-day low below $430 – a level not seen since April 12. Data from CoinDesk’s price index shows the cryptocurrency dropped by more than $50 over a short-term period of 12 hours to reach $426.47 around 16:00 UTC on Sunday. Yet the bottom support level sparked an immediate reversal in price, which quickly recovered a loss of $42. As of press time, ETH is back above Read more …