Day: July 13, 2019

Drafted “Keep Big Tech out of Finance” Act Surfaces Days Before Libra Hearings

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A drafted bill entitled “Keep Big Tech out of Finance” has surfaced online, allegedly deriving from within the United States House of Representatives Financial Services Committee. The document’s metadata dates it July 12. The bill’s provenance is unconfirmed, but crypto news site The Block quotes an inside source as saying it is with the Financial Services Committee.  The document reads:  “A large platform utility may not establish, maintain, or operate a digital asset that is intended to be widely used as medium of exchange, unit of account, store of value,…

A Frank Chat About Crypto Potential, Tax and Beer With Ryan Shaw

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A Frank Chat About Crypto Potential, Tax and Beer With Ryan Shaw July 13, 2019 by Jon Southurst Tokenization will upend the way business is done, most of today’s crypto asset investments will fail, the powers-that-be are corrupt and on-chain scaling matters a lot. Those are some of the key points from Bitsonline’s living room chat with entrepreneur and blockchain-watcher Ryan Shaw — a man who knows what he’s tallking about and has some frank opinions he’d like to share. Also read: Donald Trump Is ‘Not a Fan of Bitcoin’… or…

Republic of Georgia Exempts Cryptocurrencies From Value-Added Tax

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Republic of Georgia has exempted cryptocurrencies from value-added tax (VAT), as Bitcoin.com reported on July 13. Per the report, Georgia’s finance minister Nodar Khaduri recently signed a bill aimed at regulating the taxation of entities that trade or mine cryptocurrencies. The bill entered into force at the end of June. The definition of decentralized currency that the bill puts forward is reportedly the following: “Cryptocurrencies are digital assets that are exchanged electronically and based on a decentralized network. Their exchange does not require a reliable intermediary and they are managed…

Angry Investors Burn down Bitcoin Ponzi Scheme Operator’s Home

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Angry South African investors who lost millions of dollars in the now-defunct Bitcoin Ponzi scheme called “Bitcoin Wallets” have looted and burned down the house of Sphelele Sgumza Mbatha, the operator of the scam project, reports the Verge on July 12, 2019. Bitcoin Ponzi Scheme Creator Loses House to Mob Per sources close to the incident, gullible investors who pumped their hard earned money into a Bitcoin Ponzi scheme organized by a Ladysmith resident named Sphelele Sgumza Mbatha, have taken the law into their own hands by setting Mbatha’s property…

Bitcoin Falls under $11,450 as US Stock Market Sees Minor Downturn

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Saturday, July 13 — Most of the top 20 cryptocurrencies are reporting losses on the day by press time, as Bitcoin (BTC) fell below the $11,450 mark again. Market visualization courtesy of Coin360 Bitcoin is currently down by over 1% on the day, trading at around $11,430 at press time, according to Coin360. Looking at its weekly chart, the coin is up by almost 3.8%. Bitcoin 7-day price chart. Source: Coin360 As Cointelegraph reported yesterday, the Chairman of the United States Federal Reserve has said that almost nobody uses Bitcoin for…

Japan to Look Into the Impact of Facebook’s Libra Ahead of G7

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Japanese authorities are investigating the impact of Facebook’s Libra stablecoin, The New York Times reported on July 12. Per the report, Japanese authorities have set up a working group tasked with investigating the impact of Facebook’s stablecoin on monetary policy and financial stability. The working group will reportedly consist of the Bank of Japan, the Ministry of Finance and the Financial Services Agency and already started meeting this week. The outlet claims that the objective of the newly formed group is to coordinate policies that would address the consequences of…

0x DEX Protocol Suspended Because of Vulnerability, Funds Safe

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The Ethereum (ETH) smart contract of 0x (ZRX) decentralized exchange (DEX) protocol has been suspended after a vulnerability has been uncovered in its code, the project’s team announced in a Medium post published on July 13. Per the announcement, third-party security researcher samczsun warned the 0x team about the vulnerability in the exchange smart contract and, after evaluating it, the team suspended the exchange’s contract and the AssetProxy contracts. The vulnerability would have allowed an attacker to fill certain orders with invalid signatures. The announcement reassures that one has exploited…

Crypto Trader Screams Bullish Green Bitcoin Price in July

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Bitcoin is having a mixed July so far. The price of the flagship cryptocurrency has hit a slump of late after beginning the month on a solid footing thanks to President Trump’s latest tirade and the aspersions being cast on Facebook’s Libra cryptocurrency. But despite the recent dip in bitcoin prices, one trader still believes that the cryptocurrency could end July at $16,000. BITCOIN Targeting $16000 within July. – #BTCUSD chart https://t.co/InjL0qdgEX — TradingShot (@TradingShot) July 10, 2019 An aggressive bull cycle could push bitcoin prices higher TradingShot is a…

Litecoin Is now the Official Cryptocurrency Of NFL Team Miami Dolphins

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National Football League team Miami Dolphins entered into a partnership with Litecoin Foundation to make Litecoin (LTC) their official cryptocurrency. This will be Litecoin’s first association with a professional American football team. Previously, GLORY World Series kickboxing league had named Litecoin as the official cryptocurrency of the stand-up combat league in March. The partnership between Miami Dolphins and Litecoin will be launched for the 2019 NFL season. The deal will provide Litecoin with in-game branding and advertising opportunities at home stadium of the Miami Dolphins, Hard Rock Stadium, as well…

Promise Land or Wishful Thinking?

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Why have blockchain pilots in real estate abated somewhat? Those projects bump up against the fundamental inconsistency of blockchain and existing state system, and it seems they cannot confessed to this. First, there is no such thing as the use of blockchain for real estate. There are plenty of different concepts and ideas, and as you will find below, some of them are useless. And when you consider probably the most ultimate idea — i.e., a title token — you understand that none of the existing projects could offer a…