Day: June 25, 2018

Japan Cryptocurrency Tax | Finance Minister Considers Crypto Tax Rates

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Japan Cryptocurrency Tax: Taro Aso, the Deputy Prime Minister and the Minister of Finance for Japan, has concerns over cryptocurrency taxes in his country but believes it to be doubtful that the public would accept any changes made to the cryptocurrency taxation law. Japan Cryptocurrency Tax Currently, cryptocurrencies are taxed as “miscellaneous income”. Items taxed under this category can incur taxes up to 55%. However, Aso feels a better approach to cryptocurrencies is to tax them as “separate self-assessment taxation”. This category would bring cryptocurrency taxes to a flat rate of 20 percent…

Bitcoin Price Leads Recovery as Market Fights Off Weekend Firesale

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The cryptocurrency markets experienced a labored recovery on Monday after the deep bitcoin price sell-off that occurred over the weekend. Monero Price Headlines Monday Recovery Monero (XMR) has seen a huge rebound in the past 24 hours, up nearly 15% to $128.86. Monero saw a steep sell-off with the news out of the United States that the Secret Service recommended a crackdown on privacy cryptocurrencies , as CCN reported on June 22. The coin has also appeared recently in the news for its use in crypto-jacking malware. Lastly, speculation has…

Tron Claims Its Blockchain Is Live, But Its Token Migration Isn’t Over

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Tron, the $3 billion decentralized internet project, may have gone live today, but its full “independence” from the ethereum blockchain isn’t yet complete. Although Monday was intended to serve as an “Independence Day” celebration marking both the official launch of its mainnet and the completion of its departure from its former host, ethereum, the project has only achieved the former. More precisely, founder Justin Sun said during a live stream that Tron is still in the process of migrating the last of its users’ TRX tokens from ethereum to its mainnet.…

Bitcoin Price Eyes Comeback as 250 Million New Tethers Enter Circulation

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Cryptocurrency startup Tether issued $250 million in new tokens on Monday, sparking speculation that a bitcoin price rally could be inbound. Blockchain data indicates that Tether, the creator of cryptocurrency “stablecoin” USDT (colloquially called tether), issued 250 million new tokens this morning, June 25. USDT, which is pegged to USD at a 1-to-1 ratio, serves as a proxy for physical dollars on many cryptocurrency exchanges, owing to the fact that many trading platforms have difficulty obtaining the banking relationships necessary to hold fiat currency on behalf of customers. Over the past…

Tezos, A Launch Story: What’s Left Before the $232 Million Tech Goes Live?

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The Tezos Foundation has a message for the community: the code belongs to its users. Revealed in a statement on Monday, the non-profit is now directly pledging to take steps that will find it less involved in operations once the much-anticipated blockchain is launched. It’s a move reminiscent of the recent EOS launch, which has had a rocky start after Block.one, the corporate creator of the blockchain, handed over its tech to its community, and one that could signal a trend as more and more ICO projects go live in 2018.…

Crypto Exchange Huobi Poaches App Exec to Lead New US Branch

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A senior executive from the provider of China’s top photo-retouching app, Meitu, will now lead HBUS – the new U.S. strategic partner of cryptocurrency exchange Huobi. According to an announcement on Monday, Frank Fu, former managing director of Meitu’s global business, will join the fledgling U.S. exchange as CEO, and will manage its operations and oversee the platform’s technology development going forward. Fu’s appointment comes at a time when the exchange is moving toward a formal launch in the U.S., having already registered as a money services business with regulators in the…

Bitcoin’s Defense of $6K Raises Odds of Relief Rally

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Bitcoin (BTC) is again trading above $6,000 and looking up, but today’s closing price will likely set the tone for the rest of the week. The leading cryptocurrency fell to $5,755 at 15:00 UTC on Sunday – the lowest level since Nov. 12 – only to make a quick recovery back above $6,000 an hour later, according to Bitfinex data. The failure to capitalize on the drop, despite the long-run bearish technical setup, suggests that the bears are feeling exhausted, having pushed BTC lower by more than 40 percent (from $9,990…

Bitcoin Price Rises 5% Avoiding Lower End of $5,000 in Market Recovery

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The bitcoin price has risen by over 5 percent in the past 24 hours, as the cryptocurrency market recorded a slight recovery. Theta and Ontology recorded a rise of over 21%, becoming the best performers of the market as of June 25. Potential BTC Scenarios After dipping to a monthly low at $235 billion, the valuation of the cryptocurrency market increased to $251 billion, by $16 billion. Overall, the volume of major cryptocurrencies like bitcoin and Ethereum have risen substantially in the last 24 hours, improving market conditions.’ Yesterday, the…

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

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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 top cryptocurrencies globally. Founded last July, Tron has set out…