Month: December 2019

Bithumb Crypto Exchange Reportedly Considers Litigating $68.9M Tax Bill

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Major South Korean cryptocurrency exchange Bithumb is reportedly looking to undertake administrative litigation over an $68.9 million (80 billion won) tax bill. English-language local news outlet KoreaHerald reported on Dec. 29 that the local tax agency has handed down over 80 billion won in taxation on the exchange. A first occurrence of its kind in South Korea The outlet notes that according to documents published by Bithumb’s largest shareholder Vidente via the financial supervisory services, the National Tax Service forced the exchange to pay the withholding taxes on trading activities…

The Ultimate Growth Driver for Crypto-Lending

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We live in the days of next-generation digital money emergence. Ultimately, the world lacks a clean balance sheet and an asset that has significant appreciation potential to create more loans against it. ​Euro-backed stablecoins can help boost the crypto-lending sector by providing new ways to put both digital assets and fiat to work. Crypto lending works similarly to traditional lending services, the core difference being that loans are issued on decentralized platforms that lock up cryptocurrencies via smart contracts deployed on public blockchains. And while the up-and-coming decentralized finance sector…

Peter Schiff Says Every Asset Class But BTC Is Rallying as 2019 Ends

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Famous gold bug Peter Schiff made another anti-Bitcoin (BTC) claim, pointing out that it’s the only asset class that is not rallying by the end of 2019. As United States stocks recently hit new all-time high, Schiff has provided his sarcastic remark that Bitcoin’s price doesn’t correlate with performance of other asset classes such as U.S. stocks, precious metals and others. Schiff tweeted on Dec. 27: “Bitcoin is not disappointing those who claim its true value is that it’s a non-correlated asset. Every asset class in the world is rallying…

5 More Bullish Candlestick Patterns Every Bitcoin Trader Must Know

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Trading Bitcoin (BTC), crypto and other assets can be intimidating for those new to the investing scene; and even veteran investors go through bouts of uncertainty where they second guess themselves, trade from their gut, and only truly see the signals an asset was flashing when provided with the benefit of hindsight.  For many new traders the sight of lines, squiggly oscillators, randomly numbered moving averages and blue and green candlesticks are disconcerting as it is hard for the untrained eye to decipher all the data contained within an asset’s…

New on Rakuten Wallet: Conversion of Loyalty Points to Cryptocurrency

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Rakuten Wallet, a cryptocurrency exchange of Rakuten Group, created a service in which the loyalty points that crypto users gain from Rakuten Group (called Rakuten Super Points) can be converted into crypto assets of the available cryptocurrencies on the platform. The announcement was made on December 24th regarding the new service on the official Rakuten Wallet app which allows the users to convert their Rakuten Super Points into crypto assets available on the Rakuten Wallet app; the cryptocurrencies currently includes Bitcoin, Ethereum and Bitcoin Cash. According to the equivalence after…

Study: Most Top Universities Offer Cryptocurrency & Blockchain Courses

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In its recent report focused on the adoption of crypto courses in colleges, findings by the major crypto exchange Coinbase show that cryptocurrencies could be the future of money after all. The firm committed to exploring the landscape of cryptocurrency awareness and adoption, released a comprehensive report on the latest survey it has conducted on the adoption of crypto education in colleges. Drawing its data from top 50 international universities, Coinbase was able to infer that crypto could be the future of money as enthusiasts preach. This conclusion was arrived…

Bitcoin Weekly Forecast: BTC Price Primed For Bullish Break

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After a strong decline, bitcoin price found support near $7,000 against the US Dollar. The price is now trading near the $7,300 and $7,320 resistance levels. There is a major breakout pattern forming resistance near $7,320 on the 4-hours chart of the BTC/USD pair (data feed from Kraken). The price could dip a few points, but it is likely to find bids near the $7,180 and $7,050 levels. Bitcoin price is trading above a few key supports against the US Dollar. BTC seems to be preparing for the next bullish…

Five Countries Where Crypto Regulation Changed the Most in 2019

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One of the impediments to the adoption of blockchain and crypto technologies in the world are the regulations governing their introduction into the world of business. The constantly changing nature of the legal framework and the fear of being caught up in legal disputes with regulatory authorities, especially the tax ones, is forcing most small- and medium-sized businesses across the globe to work with blockchain from the shadows. Nonetheless, many experts believe the year 2019 has seen a significant improvement in many countries in regard to blockchain regulation, with the…

Why Analysts Think Gold’s Christmas Rally to $1,500 Is Only the Beginning

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Over the past few weeks, the price of gold has begun to pick up steam, surging by $35, some 2.5%, in the past three days. In the past four weeks, since the start of December, the asset has gained 4%. While this Santa Claus rally has already brought the price of the metal above $1,500, where it was trading during the peak of trade war talks earlier this year, analysts are currently forecasting that the asset will head higher in the coming months. Related Reading: Prominent Gold Bull Thinks the…

Around the World in 2019 — A Landmark Year for Crypto Taxation

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2019 was, without a doubt, a milestone for crypto taxation. Countries around the world realized cryptocurrencies are here to stay and adjusted their crypto tax policies as a result. This year alone, several countries have been busy establishing and amending crypto tax legislation. Governments around the world have published updated guidance, changed crypto tax rules, and used crypto tax benefits to attract high-net individuals, while some even banned crypto completely. Looking at the crypto tax legislation worldwide in 2019, one thing is apparent: No one can deny crypto tax anymore.…