20 Dec

South Korea Plans to Introduce More Digital Currency Regulations

By Daniel Zo South Korea, EU, USA, Japan, ICO Read Comments

During the last couple of months, South Korea’s attitude on bitcoin and other digital currencies has begun to change, and recent reports now indicate that the country is considering new regulation. Before anything else, it is important to point out the fact that following China’s ban on ICOs and cryptocurrency exchanges, numerous companies affected moved abroad to countries such as South Korea and Japan, where regulation was more lenient.

However, according to recent reports, there have been several proposals in South Korea, meant to prevent those who are underage from opening accounts on digital currency exchanges, while also taxing capital gains made from trading.

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12 Sep

U.S. Bill to exempt Bitcoin Transactions under $600 from Tax

By Daniel Zo Bitcoin, USA, Tax Read Comments

Bitcoin taxation and regulation have, and will continue to be a sensitive subject for both governments, but also members of the digital currency community from all around the world. According to recent reports, it seems like two members belonging to the US House of Representatives have just filed a bill meant to create a tax exemption for certain digital currency-based purchases.

The move, which if successful, is bound to be great news for the digital currency community in the United States, wants to create a de minimis tax exemption for all digital currency payments under the threshold of $600, starting from January 1st 2018.

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18 Apr

Could We See Bitcoin Recognized as a Currency Under Trump’s Presidency?

By Daniel Zo Bitcoin, USA, Donald Trump Read Comments

During the last couple of months, we’ve seen governments from all around the world becoming more relaxed when it comes down to discussing bitcoin. In fact, on the 1st of April, the Japanese Government finally agreed to recognize Bitcoin as an actual currency, which can be stored, but also used to purchase and sell products and services.

After Donald Trump was officially inaugurated as the President of the United States in January 2017, the digital currency’s price peaked, and hence managed to reach a new high. Two months later, the price of bitcoin reached $1,268, thus surpassing the value of gold for the first time. Not only this, but bitcoin almost tripled in value during a year, and between December and March of this year, its value has grown by around 30%, which is massive growth, even for bitcoin. During its volatility periods, it has been determined that the value of the digital currency can easily react to world and political events, especially in influential countries such as the United States, Russia, China, Japan and more.

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17 Mar

Why The Bitcoin ETF Project Failed

By Daniel Zo Bitcoin, ETF, USA, SEC Read Comments

If you’ve been following recent digital currency news, then chances are that you already know that the Winklevoss-backed ETF Bitcoin securities project was blocked by the US corporate regulator, known by the name of the Securities and Exchange Commission.

This is quite understandable, considering the fact that economic analysts did mention that the chances for approval were fairly low, but thoroughly understanding the reasons is essential to make sure that the project doesn’t fail next time. To put things better into context, the following question should be asked: would you be tempted to invest into an asset that may be illegal now, or sometime in the future?

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10 Dec

Wal-Mart Tests Blockchain System to Improve Food Safety

By Daniel Zo Blockchain, Walmart, USA Read Comments

During the last couple of months, we’ve often talked about the potential of the blockchain network, and how it could change the financial system, alongside with numerous administrational processes.

Yet, we never mentioned the influence that the blockchain network could have on the food we eat, where and when we buy it, but also on how we consume it. In fact, there are numerous reports stating that Wal-Mart is experimenting with blockchain technology, and wishes to change the way it serves over 260 million people on a weekly basis.

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08 Dec

The State of Illinois is Planning to touch Blockchain Regulation, for Government Adoption

By Daniel Zo Blockchain, USA, Illinois Read Comments

So far, we thought that governments are mainly interested in regulating bitcoin use, yet it seems that this is not the case, as there are numerous legislative drafts meant to regulate the blockchain network.

With this in mind, certain reports indicate that not long ago, the state of Illinois decided to take its first step in a multi-agency plan meant to integrate the integration of blockchain network into government operations of all kind. However, to be able to do this, legislative framework outlining the uses has to be implemented.

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24 Aug

Californian Bitcoin Legislation Bill Postponed For The Next Year

By Daniel Zo Bitcoin, BitLicense, California, USA Read Comments

Contrary to popular belief, it seems like California is not going to become the second state after New York City to implement a BitLicense regulatory framework in the foreseeable future.

According to recent reports, it seems like the lawmaker who introduced the AB 1326 digital currency law to the California Assembly, Matt Dababneh, has decided shelve the law following several conversations with digital currency experts and companies. With this in mind, the law will not be voted on this year, as more time is reportedly needed in order to study the measure, its possible outcomes and long-term effects.

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28 Jul

Miami Judge Rules that Bitcoin is not Money in Money Laundering Case

By Daniel Zo Bitcoin, USA, Money laundering Read Comments

According to recent reports, a Miami-based judge just ruled that Bitcoin is not actually money, a decision not taken lightly by digital currency fans from all around the world.

The case in question refers to a web designer known by the name of Michell Espinoza, who reportedly laundered and illegally transmitted around $1,500 worth of Bitcoin. Reports indicate that the funds were then sold to undercover detectives who told the web designer that they were to be used to purchase stolen credit card numbers from the internet.

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09 Dec

Former U.S. Secret Service Agent sentenced to prison following Bitcoin scandal

By Daniel Zo Bitcoin. USA, Silk Road Read Comments

It seems like the Silk Road investigation is far from being officially close, considering the fact that today, a former U.S. Secret Service agent was sentenced to around six years in prison.

According to recent reports, Shaun W. Bridges, who also pleaded guilty to a couple of felony charges relating to money laundering and obstruction of justice, was also sentenced in another court to three years of supervised release, following the completion of his prison term. Together with this, it seems like Bridges agreed to pay a total of $1.1 million for stealing a couple of thousand bitcoin during the Silk Road investigation.

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