South Korea Considers Imposing a 20% Income Tax on Cryptocurrencies

South Korea’s Ministry of Economy and Finance is considering imposing a 20% tax on income from cryptocurrency transactions. According to a report published by local English-language news outlet The Korea Times on Jan. 20, the ministry had reportedly ordered its income office to review cryptocurrency taxation. The Korea Times cited an anonymous official who reportedly said that the ministry has not finalized its plan, but noted that the government may impose a 20% tax on crypto income. News of the proposed rate follows reports earlier this month that South Korea…

How Was It Possible for Bitmain to Oust Its Largest Shareholder Overnight?

Co-founder Ketuan “Micree” Zhan was stripped of his director role at not only Beijing Bitmain Technology, but the cryptocurrency miner maker’s parent entity, BitMain Technologies Holding Company, corporate records show. A filing of the Cayman Islands–incorporated holding company, submitted Dec. 10, reveals that Zhan’s role as a board director was “ceased” on Oct. 30. That was one day after rival co-founder Jihan Wu returned to the company’s Beijing office and announced the seeming conclusion to a long-running power struggle. The takeover may have lasting effects on the world’s largest bitcoin…

Bitcoin.com Partners With Mecon Cash, Enabling Withdrawal at ATMs Across South Korea

Bitcoin Cash has been added to Mecon Cash’s M.Pay platform which is integrated with over 13,000 ATMs in South Korea. By making bitcoin cash usable for withdrawing won across the country, Mecon Cash is ensuring that BCH users in Korea can always make urgent and small transactions in any place that still does not accept peer-to-peer electronic cash directly. Also Read: First Bitcoin Cash Developers Meeting of 2020 to Be Held Today Bitcoin Cash Integrated Into Platform With Over 13,000 ATMs in South Korea South Korean cryptocurrency company Mecon Cash…

Bitcoin.com Partners With Mecon Cash, Enabling BCH to Korean Won Withdrawal at Over 13,000 ATMs Across South Korea

Bitcoin Cash has been added to Mecon Cash’s M.Pay platform which is integrated with over 13,000 ATMs in South Korea. By making bitcoin cash usable for withdrawing won across the country, Mecon Cash is ensuring that BCH users in Korea can always make urgent and small transactions in any place that still does not accept peer-to-peer electronic cash directly. Also Read: First Bitcoin Cash Developers Meeting of 2020 to Be Held Today Bitcoin Cash Integrated Into Platform With Over 13,000 ATMs in South Korea South Korean cryptocurrency company Mecon Cash…

Bitcoin Is Plunging, But It’s Too Early To Say Bulls Have Given Up

Bitcoin failed to extend gains above $9,200 and started a downside correction against the US Dollar. BTC price tested the $8,500 support and it could bounce back. Bitcoin price is down more than 5% from the $9,186 high against the US Dollar. The $8,500 support area could play an important role in the coming sessions. There was a break below a major ascending channel with support near $8,830 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could either bounce back from $8,500 or extend…

Bitcoin Is Plunging, But It’s Too Early To Say Bulls Have Given Up

Bitcoin failed to extend gains above $9,200 and started a downside correction against the US Dollar. BTC price tested the $8,500 support and it could bounce back. Bitcoin price is down more than 5% from the $9,186 high against the US Dollar. The $8,500 support area could play an important role in the coming sessions. There was a break below a major ascending channel with support near $8,830 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could either bounce back from $8,500 or extend…

Bears Beware: Ripple Uptrend Far From Over, Here Are Key Supports To Watch

Ripple extended its rise above the $0.2450 resistance against the US Dollar, similar to bitcoin above $8,800. XRP price topped near the $0.2540 area and recently corrected lower. Ripple price is down more than 6% and broke the $0.2400 support against the US dollar. The price is now trading below $0.2350, but there are many key supports on the downside. There was a break below a major bullish trend line with support near $0.2370 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could decline…

Why the World Economic Forum Is Creating a Blockchain ‘Bill of Rights’

Sheila Warren is the Head of Blockchain and Distributed Ledger Technology at the World Economic Forum. Sumedha Deshmukh is a Project Specialist on the Blockchain and Distributed Ledger Technology team at the World Economic Forum. The opinions expressed here are their own. If the last few years have taught us one thing, it’s this: users are not magically protected as technology evolves. Rather, user protection is something that occurs as the result of intention, commitment and deliberate design. Without this dedication from the outset, the trajectory of a technology’s development…

Why the World Economic Forum Is Creating a Blockchain ‘Bill of Rights’

Sheila Warren is the Head of Blockchain and Distributed Ledger Technology at the World Economic Forum. Sumedha Deshmukh is a Project Specialist on the Blockchain and Distributed Ledger Technology team at the World Economic Forum. The opinions expressed here are their own. If the last few years have taught us one thing, it’s this: users are not magically protected as technology evolves. Rather, user protection is something that occurs as the result of intention, commitment and deliberate design. Without this dedication from the outset, the trajectory of a technology’s development…

Ethereum Price Plunges to $160: Can Bulls Save The Day?

Ethereum started a sharp decline from the $180 resistance, similar to bitcoin from $9,200. ETH declined towards $160, but it is likely to find strong bids near $158. Ether price was rejected near the $180 area and it declined below $165 against the US Dollar. Bitcoin price is down more than 5% and it is now trading near the $8,500 resistance. There was a break below a major bullish trend line with support near $172 on the hourly chart of ETH/USD (data feed via Kraken). The pair is trading above…