Category: Cryptocurrency News

This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release. Laurel, Maryland– Aug 12th, 2019 — remittancetoken.io, – the World’s First Powerful Distributed Token-Generating Platform for Money Transfer currently trading on Digifinex has announced it’s sponsoring blockchain Finance Lagos conference event in Africa’s largest market, Nigeria. Offering free flight ticket and accommodation to Read more …

South Korean internet giant Kakao Corp has launched a teaser page for its forthcoming cryptocurrency wallet, Klip. According to a report from News1 Korea on Aug. 12, Kakao has made the wallet teaser page available as part of the “More” tab on its messaging app KakaoTalk — the platform into which the real wallet will eventually be integrated. 50 million active users will have access to the wallet The Klip wallet — developed by Kakao’s blockchain subsidiary, GroundX, will allow Read more …

Ether (ETH) is most likely to trade above $1,000 again in the future, according to the global cryptocurrency Twitter community.  54% say $1k Ether price possible According to the results of a survey administered by An Altcoin Trader’s Handbook author Nik Patel on Aug. 10, 54% of respondents think ETH/BTC will see $1,000 once more.  Ether is the largest altcoin by market cap, but has seen its share of the crypto pie relative to Bitcoin (BTC) decrease dramatically since its Read more …

In 2017, Jamie Dimon slammed Bitcoin. The chief executive of JP Morgan claimed that if any of his firm’s traders were caught trading the cryptocurrency, they would be fired, as it is “dangerous”. Related Reading: Crypto Analyst: Bitcoin Price Could Be Trapped in Tight Range Until Halving Other figures on Wall Street have echoed this sentiment. Legendary investor Warren Buffett has dubbed Bitcoin “rat poison”, adding that it doesn’t have much more inherent value than a seashell or suit button. Read more …

An official at China’s central bank has said the institution is nearing the launch of its digital currency. Speaking at an event in China over the weekend, Mu Changchun, deputy director of the payments unit at the People’s Bank of China (PBoC), said its researchers have been hard at work since last year to complete the systems needed to support the digital yuan offering and that it is “close to being out.” The news was reported by Bloomberg on Monday. Since Read more …

Indian telecoms provider Reliance Jio Infocomm Limited (known as Jio) has pledged to build what it describes as one of the world’s largest blockchain networks. Chairman: Nodes to be active from day one Speaking at the company’s 42nd AGM (1.01) on Aug. 12, chairman and managing director Shri Mukesh D. Ambani said blockchain technology formed one of three main areas of expansion for Jio.  Since debuting in 2015, the company has become one of India’s major mobile networks, with a Read more …

The United States Department of Commerce is looking to hire a computer scientist specializing in blockchain and identity management. According to a job listing from Aug. 9, the federal agency is seeking someone with at least one year of specialized experience in developing blockchain infrastructure and conducting research into blockchain technologies, crypto ledgers and crypto contracts.  Focus on identity management and crypto tokens The Department of Commerce’s listing hints at the future hire’s duties and responsibilities in general terms, revealing Read more …

The U.K. arm of Coinbase appears to be dropping support for the privacy-focused cryptocurrency zcash. According to customers, Coinbase UK is sending letters out warning people that they will need to convert their zcash (ZEC) holding, or remove them to an external wallet, by Aug. 26. @zcash @ElectricCoinCo @coinbase what’s going on with Zcash in the UK? pic.twitter.com/6GWS9CuIoH — Alex (@deskofwilkes) August 8, 2019 The cryptocurrency exchange gave no specific reason for the removal of the cryptocurrency, but said all remaining Read more …

The Takeaway: The IRS’ recent warning letters to 10,000 traders offer hints at what its forthcoming guidance on crypto taxes might say. While the letters are not guidance, the tea leaves indicate the IRS might be changing its required methods for calculating the value of crypto holdings and the forms and schedules for reporting them. Major questions remain unresolved, including how hard forks and airdrops should be treated. As U.S. cryptocurrency users eagerly await tax guidance from the Internal Revenue Read more …

New Zealand’s tax authorities have ruled that income in cryptocurrencies is legal and provided guidance on how exactly it should be taxed. In a tax information bulletin published on July 4, the New Zealand Inland Revenue Department summarized the provisions of the public ruling, made under s 91D of the country’s Tax Administration Act 1994. Crypto used must be “money-like” to be taxed Specifically, the guidance on the income tax treatment of crypto assets applies to payments in crypto that Read more …

Bitcoin (BTC) price succeeded in hitting its highest weekly close of 2019 last week, further dispelling fears of a fresh price breakdown. Market visualization. Source: Coin360 Another price milestone for Bitcoin  Data from Coin360 put BTC/USD trading at around $11,360 as of press time on Aug. 12. The largest cryptocurrency finished the week closer to $11,500 on some exchanges, marking its best effort of the year.  Bitcoin 7-day price chart. Source: Coin360 Odds had been high that Bitcoin could surpass Read more …

Bitcoin price is currently under pressure below the $11,600 resistance against the US Dollar. The price could slide sharply if there is a break below the $11,200 support area. There is a major bearish trend line forming with resistance near $11,700 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price might correct higher, but upsides are likely to be capped near $11,600 and $11,700. Bitcoin price is trading in a bearish zone below $11,800 against Read more …