Daily News Digest Featured News

Tuesday April 24 2018, Daily News Digest

Bitcoin Cash Rally
Source: CoinMarketCap.com

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United States

International

European Union

United Kingdom

China

APAC

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News Summary

United States

Coinbase to resign its partnership with CheapAir.com as they look at BitPay as a substitute (AMBCrypto), Rated: AAA

CheapAir.com sees Bitpay as the next option as Coinbase is terminating the existing merchant processing solutions, according to reports. CheapAir.com has been asking for customer feedback on using Bitpay to process BTC payments because of the termination of its existing processor, Coinbase which will get out of business by the month end.

To be precise, merchants will not be allowed to generate fresh orders using Merchant tools from April 30th but the tools users will be able to process refunds. May 31st being the last date for the users to migrate to Coinbase Commerce, there is not much time left. This might be disruptive to the existing customer, Coinbase admits.

Locked Out of Coinbase: Why Are Wyoming’s Bitcoin Users Still Waiting? (CoinDesk), Rated: A

For over two years, Coinbase users in Wyoming have been unable access their cryptocurrency.

“I’d venture to guess I lost $100,000 to this bullshit law,” one resident complained on Reddit.

It was out of the blue, too, when in June 2015 the U.S.-based exchange suddenly suspended services for Wyoming residents. This was after state regulators clarified that Coinbase, in fact, fell under its Money Transmitter Act, and as such, needed to hold fiat currency reserves for all digital assets held on consumer’s behalf.

Coinbase-Cryptsy Lawsuit Will Head to Jury Trial (CoinDesk), Rated: A

Coinbase has lost another appeal in a lawsuit brought by former customers of the defunct cryptocurrency exchange Cryptsy, and the case will now proceed to a jury trial.

An appeals court in Georgia on Monday affirmed a lower court’s denial of Coinbase’s appeal of the case, which blames the company for failing to stop Cryptsy’s chief executive from allegedly absconding with his customers’ money.

Crypto Giant Can’t Arbitrate Laundering Claims: 11th Circ. (Law360), Rated: B

A customer of the defunct cryptocurrency exchange Cryptsy does not have to arbitrate his proposed class action against digital currency giant Coinbase Inc. alleging it helped Cryptsy’s CEO launder roughly $8 million in stolen customer funds, the Eleventh Circuit said Monday.

Crypto Exchange Coinbase Hires Chief financial Officer (Crypto-News), Rated: B

Last week, cryptocurrency exchange Coinbase hired their new Chief Financial Officer (CFO), Alesia Haas.

Goldman Sachs Hires Crypto Trader As VP Of Digital Assets ‘In Response To Client Interest (CoinTelegraph), Rated: AAA

Goldman Sachs has hired crypto trader Justin Schmidt as vice president of digital asset markets of their securities division in order to help clients navigate cryptocurrencies, Bloomberg reports today, April 23.

Andreessen Horowitz is preparing to launch a separate fund for crypto investments (recode), Rated: AAA

Andreessen Horowitz, one of the leading venture capital firms when it come to investing in digital currencies, is preparing to launch a separate fund to buy and sell crypto assets, Recode has learned.

How ‘Whales’ influence the price of Bitcoin (Brave New Coin), Rated: AAA

Bitcoin whales are most commonly early bitcoin adopters who are sitting on millions in cryptocurrency. Whales can also be risk-loving high-net-worth individuals who have recently discovered the cryptocurrency market as a new arena for money making, or major institutional investors such as hedge funds and proprietary trading desks who are placing large bets on where the market will move next.

Interestingly, only around 1,000 people own 40 percent of all existing bitcoin, which means that there are a few whales in a big ocean of little fish. It also means that if some of these whales start to sell large chunks of their bitcoin holdings, the market is in for an ugly ride.

BNC Mt. Gox
Source: Brave New Coin

OTC brokers such as Cumberland and Circle have a minimum ticket size of $100,000 and $250,000 for digital currency trades, which means that wealthy bitcoin holders can trade amongst each other without trades ever actually touching exchanges. In some cases, OTC brokers will source liquidity from different exchanges to close out trades and reduce the impact of a large sell or buy transaction on the overall market.

To identify whales, the first thing you can do is monitor the wallet addresses of the largest holders — as well as exchange wallets — to stay alert of any significant shifts in cryptocurrency.

bitcoin addresses
Source: Bitinfocharts.com

Forget Bitcoin; Trust Currency Is The New Currency That Will Make You Wealthy (Forbes), Rated: AAA

My respondents had no difficulty deciding to continue to do business with Angie when the price difference was only 2%. Things began to get interesting when I increased the difference in price in 1% increments. I wanted to know at what price point would the test subject decide to stop doing business with Angie and switch to Burt, in spite of the fact that no one likes or trusts him.

Scenario #2

What would you rather have? $50 today or $100 tomorrow? Most respondents choose $50 today.

What would you rather have? $50 in 30 days or $100 in 31 days? Suddenly the majority of test subjects say that they would rather have $100 in 31 days.

Secret Messages and Drawings Spotted in Bitcoin Network (Sputnik News), Rated: A

Blocks of the bitcoin distributed ledger technology have been found to store some private message exchanges, family photos and even art exhibits. Last week a designer agency from the US state of Florida called Branger_Briz released an art project Messages from the Mines, which made some of the ‘unearthed’ messages public.

How to fix one of Bitcoin’s biggest problems (MIT Technology Review), Rated: A

Bitcoin and similar blockchain systems have a problem, and renowned MIT cryptographer Silvio Micali says he has a solution.

Micali—who won the Turing Award in 2012 for his pioneering work in cryptography, including a number of techniques that are used to secure blockchain systems—shared his vision for a new system, called Algorand, on stage at MIT Technology Review’s Business of Blockchain conference. The system uses a novel approach called proof of stake, in which responsibility for validating new transactions is allocated to users according to how much money they have in the system.

Algorand doesn’t use miners, and the computation required to secure the ledger is “trivial,” which makes the system very fast, says Micali. It uses complicated math (sort of like “magic,” he says) to first select a random user to propose, digitally sign, and add new blocks to the chain. The algorithm then randomly selects 1,000 more users, who check that block and sign it.

Bitcoin Rival Accused of Trying to Artificially Boost Its Price (Bloomberg), Rated: A

Bitcoin Cash is the hottest cryptocurrency around right now for more reasons than you may imagine.

The offshoot of the biggest digital token has surged about 25 percent since Friday, in part because Antpool, one of the largest mining groups, is “burning” a portion of the coins it receives in exchange for solving the complete mathematical puzzles that serve as the backbone of the network, potentially reducing supply and driving up the value.

Bitcoin Cash Rally
Source: CoinMarketCap.com

Antpool, whose users’ computers confirm 8.2 percent of all Bitcoin Cash transactions, announced April 20 on Twitter and Facebook that it will voluntarily “burn” 12 percent of the coins it receives. The mining outfit is sending a portion of the fees it receives “to a black hole address.”

3 Ways to Play Cryptocurrencies Without Actually Buying Them (The Motley Fool), Rated: A

1. Bitcoin futures

Last December, two major futures exchanges started offering futures contracts on bitcoin. CBOE Global Markets (NASDAQ:CBOE) was the first to market with its futures offering, and CME Group (NASDAQ:CME) didn’t waste any time coming out with its own version of a bitcoin contract.

2. Graphics processing unit manufacturers

NVIDIA (NASDAQ:NVDA) and Advanced Micro Devices (NASDAQ:AMD)have seen huge spikes in demand for their respective GPU offerings, and in fact, some consumers who want to use GPUs for purposes like video gaming have suffered due to higher prices for the chips.

3. Partners of major crypto players

Finally, if you like the features that blockchain technology offers but aren’t certain about the cryptocurrencies tied to that technology, then looking at the companies that stand to benefit from the adoption of a particular blockchain application can be a good place to start.

Someone transferred $ 99 million in litecoin — and it only cost them

Someone transferred $ 99 million in litecoin — and it only cost them $0.40 in fees (SF Gate), Rated: A

.40 in fees (SF Gate), Rated: A

$99 million-worth of litecoin was sent between two cryptocurrency wallets in a single trade on Thursday, attracting attention on Reddit. The identity of the parties involved in the transaction is not known.

A thread about the transaction was the third most popular post on the litecoin sub-Reddit on Friday afternoon. Reddit users were impressed by data showing the transaction took just 2.5 minutes to settle and cost only $0.40 in mining fees.

Litecoin (LTC) partners with TenX to launch Litecoin debit card (Global Coin Report), Rated: AAA

TenX will now start supporting LTC on Android as well as iOS. indeed, it truly is one step ahead. But even more, exciting news is, TenX and Litecoin are looking to start a co-branded card. Regarding this new plan, more updates from both companies are expected to come out soon officially.

Tax day 2018 is history — how to choose a crypto accountant for 2019 (Brave New Coin), Rated: A

To help you answer those questions – especially as it relates to your crypto taxes, we have compiled some basic questions along with appropriate answers to ask a prospective tax accountant before you hire them to prepare your tax return.

1. How many crypto returns have you prepared?

Cryptocurrency trading or income from other types of crypto activity is a nuanced field, so this is a perfectly warranted question even if it seems forward. You’ll be relying on this individual or firm to know the regulations, terminology and ecosystem that those with cryptocurrency on their tax return must navigate.

2. Do you have experience in handling my particular crypto tax and accounting needs (mining, forks, fraud losses/hacks, decentralized exchanges, margin trading, airdrops, etc)?

3. Will you be reconciling all of my crypto wallet balances (exchange, desktop, mobile, hardware) to verify that my capital gain/loss is accurate?

One of the biggest challenges in crypto taxation is actually crypto bookkeeping and accounting. Unlike if you were trading stocks, you will not get a tidy statement with your trades from a brokerage house at the end of the year to have transcribed into your tax return.

5. Have you traded (not just bought) crypto?

How To Make Money With Blockchain, Despite The Hype (Forbes), Rated: A

In fact, blockchain’s decentralized nature presents many entrepreneurs with a difficult choice: build a decentralized system but forego a solid revenue stream, or create a centralized business model that leads to real profits but avoids the very aspect of blockchain that makes it so disruptive.

Fortunately, there is a happy medium: generally decentralized efforts that retain some centralized component that affords the creator of the platform with a mechanism for collecting transaction fees or otherwise cash in on their efforts.

How To Test The Waters Before Diving Into Blockchain (Forbes), Rated: A

Is your organization ready for blockchain or distributed ledger technology? There is certainly no lack of enthusiasm. A recent survey of 200 business leaders by SAP finds while 92 percent view blockchain as an opportunity, only three percent actually have blockchain in production. The two most promising applications seen for blockchain include supply chain management and legal/regulatory oversight.

Blockchain Start-Up To Help Public Own And Monetize Their Data (CoinTelegraph), Rated: A

Datawallet plans to help the public own and monetize their data, allowing them to decide who sees their information and which details they access.

According to Datawallet, its system could also prove useful and lucrative in a plethora of ways beyond advertising. The company says profiles on its platform could become a “passport for internet 3.0” – allowing users to fully personalize new services in an instant by sharing “a few relevant data points.”

Through its platform, Datawallet says companies can access types of data that used to be “entirely inaccessible,” and this would be devoid of the biases regularly seen in the data captured through conventional means. To ensure that users are kept anonymous and their information remains secure, Datawallet provides data to companies in the form of “high-level analyses.”

SEC’s New Cyber Unit Tasked with Blockchain Securities Fraud (CryptoSlate), Rated: B

The SEC has recently created a Cyber Unit focused on investigating digital misconduct and fraud to protect retail investors.

The Cyber Unit is tasked with the SEC’s Enforcement Division’s cyber-related misconduct:

  • Market manipulation using false information spread through social media.
  • Hacking to obtain nonpublic information.
  • Misconduct perpetrated using the dark web.
  • Intrusions into retail brokerage accounts.
  • Cyber threats related to trading platforms and critical market infrastructure.

Blockchain technology powering ‘digital diplomas’ (ABC30), Rated: B

Just ask students at Southern New Hampshire University, Central New Mexico Community College and MIT. They now need to look no further than their phones to call up their diplomas, diplomas that use blockchain technology to provide students with digital credentials.

International

The Wikileaks Shop says that Coinbase has suspended its account (The Verge), Rated: AAA

San Francisco-based cryptocurrency exchange Coinbase has reportedly closed an account opened by whistleblowing site Wikileaks for its online store, citing violations of its Terms of Service.

WikiLeaks calls for Coinbase boycott after ban from cryptocurrency exchange (RT.com), Rated: A

WikiLeaks is calling for a global blockade of one of the world’s largest exchanges for crypto-trading, Coinbase, after the company banned the WikiLeaks Shop from its platform “without explanation.”

How to Create Your Own Cryptocurrency  (Lifehacker), Rated: AAA

First, it’s important to understand the difference between coins and tokens. Both are cryptocurrencies, but while a coin—Bitcoin, Litecoin, Dogecoin—operates on its own blockchain, a token lives on top of an existing blockchain infrastructure like Ethereum.

Anyone can create a token and run a crowdsale, but ICOs have become increasingly murky as creators take investors’ money and run.

At the time of writing, CoinMarketCap lists 895 coins and 679 tokens available on public exchanges. Not all tokens made it to exchanges, however — Etherscan, which provides Ethereum analytics, has more than 71,000 token contracts in its archive.

Build Your Own Blockchain—or Fork an Existing One

Both of these methods require quite a bit of technical knowledge—or the help of a savvy developer.

Launch a Coin or Token Using a Cryptocurrency Creation Platform

This option is the most feasible for the average person—a creation service will do the technical work and deliver your finished coin or token back to you. For example, CryptoLife will actually build a custom coin, and all you have to do is enter the parameters, from the logo to the number of coins awarded for signing a block.

You can also create a token—what is essentially a smart contract—with or without a public ICO. This is faster, simpler, and cheaper than creating a coin because it doesn’t require the time and effort to build and maintain a new or forked blockchain and instead relies on the technology already in use for Bitcoin or Ethereum.

SURF SMART CONTRACTS ON THE WAVES BLOCKCHAIN (Bitcoinist), Rated: A

Smart contracts will bring a slew of new additions and added benefits to the Waves ecosystem.

Unlike other similar blockchains, Waves smart contracts do not use gas for non-Turing complete smart-contracts, which means that fixed costs are always known upfront. Compared to Ethereum, which people mainly use for Initial Coin Offerings because of its ability to create tokens, Waves is significantly more simple, efficient and cost-effective — for essentially the same service.

The Bitcoin BCH Block Explorer Explodes With Blockchain Data (Bitcoin.com), Rated: A

There are many situations where you may want to search some data on Bitcoin.com’s Bitcoin BCH Block Explorer. For instance, say you sent a large amount of BCH to a friend and you want to make sure the individual got the funds. Our explorer will find the transaction by using a sending or receiving address, or a  transaction ID number.

The Bitcoin BCH Block Explorer shows users the latest transactions that have been broadcast and processed to the BCH chain, and users can further investigate mined blocks, inputs, outputs, and a transaction’s byte size.

bch block explorer
Source: Bitcoin.com

ILPs May Replace ICOs as a New Form of Fundraising  (BTCManager), Rated: B

Although initial coin offerings (ICOs) are seen as a legitimate means of raising capital, there are no clear legal and technical controls. Initial Loan Procurements (ILP), are, however, an alternative to the risky ICO model. ILPs enable decentralized crowdfunding opportunities by creating a contractually bound agreement which minimizes the risk of ICOs.

Agrello, a legal startup that builds legally-binding contracts on the blockchain, and Blockhive are currently working together to launch the first ILP called ‘Blockhive.’ Blockhive will use the Agrello ID that provides support for all legal requirements which include Know Your Customer (KYC) and anti-money laundering solutions.

Shift Card is Accepted at 38 Million Merchants Worldwide (Cryptocurreny News), Rated: A

Thirteen hours ago Litecoin’s founder, Charlie Lee, reintroduced a partnership to his nearly 800K followers via his personal twitter. Coinbase, the US’s largest cryptocurrency exchange, signed a partnership deal with Shift Card back in late 2015. Shift Card works with over 38 million global merchants, which allows Coinbase users able to spend their Bitcoin(BTC), Ethereum(ETH), and Litecoin(LTC) virtually anywhere.

One in 5 finance firms is considering trading cryptocurrencies (Business Insider), Rated: A

A fifth of finance firms are considering getting into cryptocurrency trading within the next year, according to an industry poll by Thomson Reuters.

A survey of over 400 Thomson Reuters clients found that one in five is considering getting into crypto, with the majority weighing a push into the market within the next six months.

There are over 200 cryptocurrency-focused hedge funds globally,according to fintech research firm Autonomous Next, but their combined assets under management are only $5 billion at a maximum.

TRON to airdrop 30 Million TRX to the Ethereum [ETH] community – a sign of Good Faith? (AMBCrypto), Rated: A

As a sign of good faith and appreciation, TRON will be airdropping 30 million TRX to the Ethereum community. An online feud between Ethereum founder, Vitalik Buterin and TRON CEO Justin Sun occurred on the 6th of April. Many from the community say that this could be a peace offering offered by Justin Sun.

3 Altcoins You Shouldn’t Ignore Anymore: Ethereum Classic, Dentacoin, Achain (Stocks Gazette), Rated: A

The price of ETC against the USD hit the $20 level as it pushed further towards the top of the rankings. Currently ranked 16th, the coin saw it value shoot up by 9% during the Asian trading hours. As it stands, the coin could be in the top bracket by mid-May.

DCN is trading at $0.001018 against the USD, surging by +7.53% over the last 24 hours. as one of the hottest assets this week, the token has seen a massive +187% jump in its value over 7 days.  The 60th ranked platform presents a good opportunity for investors.

The ACT token traded at $0.3297 against the USD this morning, gaining a 24-hour price jump of + 21.09%. Over the last 7 days, the token has continued to consolidate gains, moving +51.34%. With a platform that promises to deliver as well as the others, if not better, Achain offers an opportunity to get in at a low price.

European Union

Crypto Storage AG and Securosys blockchain storage solution set to go live (Cryptoninjas), Rated: A

Crypto Storage AG, part of the Crypto Finance Group, founded in June 2017 as a blockchain related services holding company and Securosys, a technology company dedicated to secure data and communications have announced that their storage solution partnership for crypto and blockchain assets is almost ready to go live. From go-live, it can store more than 80% of the total market capitalization.

Altcoins Igniting But Ethereum Founder Isn’t Ready for Liftoff (CryptoSlate), Rated: A

The cryptocurrency market is currently exhibiting strong bullish signals, with a cumulative market cap of over $388 billion. While a large portion of this growth is attributed to high market cap cryptocurrencies such as BitcoinEthereum, and Ripple, the top 50 altcoins are almost all experiencing 7-day average positive movement of 5%.

How The Tiny Nation Of Georgia Became A Bitcoin Behemoth (NPR.org), Rated: A

In practice, it involves a kind of constant digital bombardment to find these solutions, 24 hours a day, consuming huge amounts of electricity. And thanks to its cheap hydropower and low regulation, Georgia is now ranked second in the world for cryptocurrency mining — behind only China.

A single U.S.-based technology company called Bitfury has been accounting for much of this mining activity, from a vast data center filled with computer servers that it opened on the outskirts of the capital, Tbilisi.

Suspect In Iceland Bitcoin Mining Heist Arrested in Amsterdam (CoinTelegraph), Rated: A

An Icelandic fugitive suspected in a major theft of Bitcoin mining equipment earlier this year was arrested by Amsterdam police, the Associated Press reported April 23.

DAV Foundation Secures Major Korean Investment from Block Crafters Capital (PR Newswire), Rated: A

DAV Foundation, the blockchain startup building a decentralized network for autonomous vehicles, today announced it has secured significant investment from South Korean-based Block Crafters Capital. Block Crafters Capital consists of partners coming from various professional backgrounds who carefully select blockchain projects and provide comprehensive investment support. It was most recently associated with the ICON initial coin offering, which closed in September 2017 having raised $45 million.

Poland Drops 1 Percent Levy on Cryptocurrency Sales Following Furor (BNA.com), Rated: B

The sale and conversion of cryptocurrency aren’t subject to a 1 percent civil law levy, but personal income tax will continue to apply, Polish Deputy Finance Minister Pawel Gruza said at a news briefing on April 20.

THE BIGGEST ICO EVENT HEADING TO CYPRUS (Bitcoinist), Rated: B

The iCoin summit which will host the world’s first ever ICO battle with a live investment is heading to Cyprus with a line-up of more than 30 well-known speakers, 16 blockchain start-ups, and a $250,000 grand prize.

United Kingdom

Huobi Plan to Hit London in International Expansion (BTCManager), Rated: AAA

Singapore-based exchange Huobi has spoken of plans to expand operations to London.The Huobi team were in London on April 17, 2018, to launch phase II of the Huobi Knights program and unveil four new projects.

British finance guru sues Facebook for scammy cryptocurrency ads (The Verge), Rated: A

Martin Lewis, a well-known financial journalist and founder of consumer finance site MoneySavingExpert.com, filed a lawsuit against Facebook today through the UK’s High Court, accusing the tech giant of defamation. He claims that the platform published over 50 cryptocurrency ads that falsely used his face and name to promote cryptocurrency trading scams.

How British Financial Regulator Creates A Foundation For UK Cryptocurrency Adoption (CoinTelegraph), Rated: A

2018 has seen a big move for positive regulatory action towards cryptocurrencies around the world and England’s Financial Conduct Authority (FCA) has embraced this change as well.

In March the FCA announced that it had launched a cryptocurrency task force in association with the Bank of England in order to explore ways to regulate and foster the expanding cryptocurrency sector.

China

Binance Freezes Nano Deposits due to “Blockchain Issues” (Live Bitcoin News), Rated: AAA

In the world of cryptocurrency, there are always some developments taking place. For Binance, it seems the company halted Nano deposits starting yesterday. According to a company representative, the wallet maintenance is delayed due to “blockchain issues”. 

New Ontology Roadmap: What Kind of Future Awaits ONT Holders (Global Coin Report), Rated: A

The Socrates Q2 Roadmap for 2018:

The chain network of Ontology predominantly based on a homogeneous network named Socrates. The efficiency and functionality of Ontology would depend heavily on the efficiency of Socrates. Once the implementation is complete successfully, this homogeneous chain network would be actively involved in the following activities:

a. Release of Mainnet:

b. WebAssembly Support: 

c. Smart Contract Support:

d. VBFT Consensus and Oracle Support:

e. Network Optimisation and Performance Tuning:

Nasdaq-Listed Company Xunlei Faces Class-Action for Disguising ICO (Bitcoin.com), Rated: A

Nasdaq-listed technology firm Xunlei has become the subject of multiple class-action lawsuits from investors who purchased the company’s digital token, Linktoken. Xunlei is accused of misleading investors to disguise an initial coin offering (ICO) through which Linktoken was distributed.

Popular Steemit Trader Haejin Predicts Binance Coin (BNB) To Go Near $ 25.83 (Bitcoin Exchange Guide), Rated: B

As something new, we are going to start spotlighting different traders and their methods, outlooks and predictions. One of the more popular Steemit cryptocurrency traders Haejin recently reviewed the Binance Coin (BNB) and predicted the token to rise near the specific $25.83 mark by the start of May.

APAC

Litecoin’s Value Increase Complemented With Listing On Korean Oldest Exchange (Ethereum World News), Rated: AAA

Litecoin is only not adding value in the market, but also cruising around the world of cryptocurrecny with great and new developments as additions. Yesterday, in a tweet issued by the altcoin’s owner, Charlie Lee, it was aired that Litecoin’s developments have added another feather to its cap as the altcoin seems to get support from Korbit, one of Korea’s oldest exchange platform.

From Freelancers to Decentralized Empires: Blue Whale, the First ICON ICO (NewsBTC), Rated: A

The state of the gig economy is in a precarious situation – facilitated by the leveling of the marketplace, in part. If you look at any of the current leading service providers for freelancers and their employers, you might notice that after a while: both sides present some recurring complaints.

Key issues include extortionate service fees (often applied to both participating sides of a freelance contract), slow processing times, and a lack of customer support.

‘Blue Whale Platform’ is the next evolutionary step in the long-term vision of a company named Verlocal, who are specialists in the creation and distribution of various SaaS solutions. These include a tried and tested, pre-existing freelance marketplace and economy infrastructure.

Inside the Marshall Islands’ plans to launch its own legal tender cryptocurrency (The Next Web), Rated: B

The island is launching its own national cryptocurrency token dubbed the Sovereign, or SOV, which will be legal tender for citizens and businesses on the island.

Eurasia

Half of Russian ICO Money Went to Pyramid Schemes in 2017 (Finance Magnates), Rated: AAA

The Russian Association of Cryptocurrency and Blockchain (RACIB) has announced that it intends to develop guidelines for initial coin offerings in Russia, hoping to distinguish between legitimate projects and scams, according to a report in banki.ru.

According to RACIB, half of the $300 million raised by ICOs in Russia in 2017 was wasted on pyramid schemes.

Russian projects have accounted for approximately 10 percent of the ICO market thus far, and according to this, the RACIB projects that Russian ICOs could raise as much as $1.5 billion in 2018.

Russian Government Concerned Crypto Bill Inadequate in Many Ways (Bitcoin.com), Rated: A

The Russian government published its official response on Saturday to the draft federal law no. 419059-7 “On Digital Financial Assets” which aims to regulate cryptocurrencies, crypto mining, as well as initial coin offerings (ICOs).

Canada

Cardano and Tron claim new crypto exchange listings, Verge and Ripple to wait (Global Coin Report), Rated: AAA

Today, Tron (TRX) was added to Canada’s Einstein Exchange — a strong indication of TRX’s increasing reach. The exchange is an operation based in Vancouver and dubs itself as “Canada’s fastest growing digital currency exchange”. In fact, the Canadian crypto exchange added a couple of other cryptos alongside Tron; others that were included are 0x’s ZRX and Golem’s GLM.

Bought bitcoin in 2017? Here’s how cryptocurrency is taxed in Canada (CBC), Rated: A

The CRA and chartered accountants are warning that no matter what your profit was, you’re going to have to pay taxes on it by the time the April 30 filing deadline rolls around.

McCann said the biggest mistake some of his clients have made is not keeping track of their trades.

McCann also notes that trading cryptocurrencies within a tax-free savings account or RRSP would not be allowed in the existing rules because they aren’t defined as eligible investments under Canada’s Income Tax Act.

DMG Blockchain Welcomes Litecoin Creator Charlie Lee to its Advisory Board (GlobeNewswire), Rated: B

DMG Blockchain Solutions Inc., a diversified blockchain and cryptocurrency company, announced today that Charlie Lee, inventor of Litecoin and former director of engineering at Coinbase, has joined DMG’s advisory board as the Company prepares to add litecoin (LTC) mining as part of its Mining-as-a-Service (MaaS) operations, as well as apply the Lightning protocol for cross-chain atomic swaps between blockchains such as Bitcoin and Litecoin.

Latin America

Brazil sees launch of cryptocurrency and blockchain association (ZDNet), Rated: B

The Brazilian Association of Cryptocurrencies and Blockchain (ABCB) has been launched in São Paulo last week with the aim of increasing the debate around digital currencies with the government.

Authors:

George Popescu
George Popescu
Allen Taylor
Allen Taylor

About the author

Allen Taylor

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