It’s here! The United States tax season officially started on Jan. 27, and this time, crypto tax is in the spotlight. Following developments that culminated in the Internal Revenue Service publishing new guidance in October 2019, the bureau has begun to invest efforts in cryptocurrency tax reporting and investigation and is expecting to see an increase in crypto tax reports. Those who intend to report their crypto activity can skip down to the tips for easy and accurate reports. As for the crypto cypherpunks who are not going to report…
Day: January 29, 2020
Switzerland: Zermatt Town Now Accepts Tax Payments in Bitcoin
According to January 29, 2020, announcement by major crypto financial services company Bitcoin Suisse, the Swiss city of Zermatt has now become the second city in Switzerland which allows taxpayers to pay their taxes in Bitcoin (BTC). Zermatt Now Accepts Taxes in Bitcoin Bitcoin continues to undergo a slow and steady wave of transformation that looks set to propel the use of the premier cryptocurrency from among deep web elements into the mainstream. Per a recent announcement by Swiss digital currency service provider Bitcoin Suisse, the municipality of Zermatt will…
British Financial Watchdog Approves BCB Group as Authorized Payment Firm
BCB Group, a European crypto-focused payment processor for the likes of major global crypto firms like Coinbase, has secured a license from British regulators. The United Kingdom’s Financial Conduct Authority (FCA) has officially approved the firm’s core subsidiary, BCB Payments, as an authorized payment institution (API), BCB Group announced on Jan. 29. The company is now officially regulated both in the U.K. and Switzerland Having secured an API license from the FCA, BCB Group now holds two regulatory approvals to offer cryptocurrency-related services in Europe. BCB Payments sister firm, BCB…
Bitcoin Ain’t What It Used To Be, Pioneer Investor Says
A millionaire by age 18, early Bitcoin (BTC) investor Erik Finman said the environment around Bitcoin has significantly changed since 2011 — and not for the better. “It just ain’t what it used to be,” Finman told Cointelegraph in a message on Jan. 26, 2020. Recounting the early days, Finman explained: “Bitcoin, when it first came out, was incredible. It wasn’t just cutting edge technology – it was bleeding edge! You just felt the energy in the air. That this was the real deal. Everyone felt united in this cause…
Price Analysis Jan 29: BTC, ETH, XRP, BCH, BSV, LTC, EOS, BNB, ETC, ADA
Bitcoin and a few other altcoins have broken above their 200-day SMA, which indicates the possibility of the start of a new uptrend. Japanese consulting firm Nomura Research Institute, which is an affiliate of financial services giant Nomura Holdings, has launched a tradable cryptocurrency index in partnership with cryptocurrency investment solution provider Intelligence Unit. The index, which is meant for financial institutions, will track a basket of cryptocurrencies and can be traded in US dollars and yen. Though several financial companies have launched services for institutional investors, the inflow of…
Coinbase Hires Google VP as Chief Product Officer
Coinbase has hired a former vice president of product at Google to be its chief product officer. Surojit Chatterjee spent 11 years at Google, where he worked on payments, adtech and commerce. He most recently led the continuing development of Google Shopping, a service available in more than 90 countries. Prior to that, he was the head of product at Indian e-commerce site Flipkart. Chatterjee is Coinbase’s first chief product officer since the departure of Jeremy Henrickson in December 2018, the company confirmed. In his new role Chatterjee will focus…
Literally No One Is Trading Bakkt’s Bitcoin Options
Trading volumes in bitcoin options listed on the Intercontinental Exchange’s Bakkt platform have completely dried up, even while CME’s options product is seeing strong interest. As per Bakkt’s data, not a single bitcoin options contract was traded last week on Bakkt, withactivity last registered on Jan. 17, when 20 lots had changed hands. This is happening while the price of bitcoin has rallied to three-month highs, raising the cryptocurrency’s volatility. Demand for options tends to rise with a spike in volatility, the standard deviation of an asset’s returns that is…
While CME Shines, Literally No One Is Trading Bakkt’s Bitcoin Options
Trading volumes in bitcoin options listed on the Intercontinental Exchange’s Bakkt platform have completely dried up, even while CME’s options product is seeing strong interest. As per Bakkt’s data, not a single bitcoin options contract was traded last week on Bakkt, withactivity last registered on Jan. 17, when 20 lots had changed hands. This is happening while the price of bitcoin has rallied to three-month highs, raising the cryptocurrency’s volatility. Demand for options tends to rise with a spike in volatility, the standard deviation of an asset’s returns that is…
Most of MakerDAO’s Asset Value Is in Only a Few Addresses
The decentralized finance (DeFi) market saw a massive upswing in 2019 and its growth is expected to continue in 2020. Yet, only a handful of accounts are responsible for much of the industry’s value. DeFi is the movement to transform old financial products into trustless and transparent protocols that run on decentralized applications built using smart contract platforms like ethereum. The most popular DeFi protocol right now is MakerDAO’s multi-collateral Dai system, where users create “collateralized debt positions” (CDP) by putting up ether or other ERC-20 tokens as collateral to…
Most of MakerDAO’s Asset Value Is in Only a Few Addresses
The decentralized finance (DeFi) market saw a massive upswing in 2019 and its growth is expected to continue in 2020. Yet, only a handful of accounts are responsible for much of the industry’s value. DeFi is the movement to transform old financial products into trustless and transparent protocols that run on decentralized applications built using smart contract platforms like ethereum. The most popular DeFi protocol right now is MakerDAO’s multi-collateral Dai system, where users create “collateralized debt positions” (CDP) by putting up ether or other ERC-20 tokens as collateral to…