A Texas resident was charged by the U.S. Attorney for the Southern District of Texas on July 14. Allegations suggest that he fraudulently filed loan applications for $1.1 million through the Paycheck Protection Program, or PPP. He claimed he was seeking COVID-19 relief, but allegedly actually used the funds to purchase cryptocurrency. According to the allegations published by the U.S. Department of Justice, 29-year old Joshua Thomas Argires made false statements to financial institutions. Officials claim that Argires committed wire fraud by establishing a scheme to file the applications to…
Day: July 14, 2020
Blockchain Bites: Chainlink’s Interest, Ethereum’s ‘ReGenesis’ and Crypto Taxes
Binance announced the rollout of its crypto debit card, the U.K.’s central bank is thinking hard about a digital currency and the taxman cometh. Here’s the story: You’re reading Blockchain Bites, the daily roundup of the most pivotal stories in blockchain and crypto news, and why they’re significant. You can subscribe to this and all of CoinDesk’s newsletters here. Top shelf AML ComplianceBitGo is offering API support for the Financial Action Task Force’s (FATF) “Travel Rule,” which stipulates the originators and beneficiaries of financial transactions over $1,000 be identified and that their personal data…
Worldwide Blockchain and AI Communities Join in Hacking Over 100 Potential COVID-19 Solutions – Blockchain News, Opinion, TV and Jobs
The Decentralized Artificial Intelligence Alliance‘s recent COVIDathon online innovation contest recently announced its winners… selected from over 100 Blockchain and Artificial intelligence (AI) project proposals — and put forward by innovators over 10 weeks. Over 1,100 participants from 99 countries registered for COVIDathon, DAIA’s 1st hackathon, aimed to leverage AI for social impact Winners used blockchain and AI technologies in proposals including supply chain solution, disease monitoring app, displaying real-world uses for emerging technologies Reach of +275,000 people, with the networks of 10+ partner organizations Two of the winning teams…
Bitcoin’s Trading Volume is Dying Out; Setting the Stage for Explosive Volatility
Bitcoin’s extended bout of sideways trading has caused the cryptocurrency to see historically low volatility levels. In the past, bouts with volatility this low tend to be followed by massive movements that set the tone for which direction the cryptocurrency will trend in the days and weeks ahead. Analysts are noting that there are a few technical indicators that all are starting to suggest that BTC’s multi-month consolidation phase is drawing to a close. The next movement it makes will likely break its long-held trading range between $9,000 and $10,000…
Bitcoin News Roundup for July 14, 2020
With Tax Day fast approaching, CryptoX’s Markets Daily covers all things IRS and crypto taxes on today’s show! Bitcoin is locked in a low-volatility squeeze similar to one seen ahead of a 40% price crash in November 2018. This time may be different. Have questions about filing your crypto taxes? CryptoX dives into what we know (and what we don’t) about how the IRS is approaching the asset class. The U.K.’s central bank is discussing the possibility of launching a digital currency, perhaps in several years. Disclosure The leader in…
The Digital Solution for Africa’s Payment System Issues
Place/Date: – July 14th, 2020 at 3:56 pm UTC · 2 min read Contact: Oduwa Coin, Source: Oduwa Coin Africa is one of the regions with the most complicated payment systems. Many countries in this part of the world are affected by a problematic system that drains out people’s income and remittances that locals receive from family members abroad. The continent is also populated by underserved and unbanked communities. The need for a smart and trusted solution is necessary to overcome most of the issues these communities face on a…
Binance Announces the Rollout of Binance Card in Europe and UK
Binance Card is expected to become a game-changer in the crypto industry. Users in Europe will be able to get it starting from August, while in the UK it will become available a little bit later. Through its official website, leading cryptocurrency exchange Binance has today announced its official rollout of the Binance Card in the Europe and UK market. The card which is powered by the recently acquired Swipe company will be used to further digital assets adoption. According to the Binance blog, the card will enable users to…
Is Bitcoin Mining Still Profitable in 2020 ?
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Fidelity Digital Assets To Power Bitcoin Custody For Kingdom Trust Choice Retirement Accounts – Blockchain News, Opinion, TV and Jobs
Due to an exclusive institutional agreement between Fidelity Digital Assets (FDA) and Kingdom Trust (KT), retirees now have the option to safeguard their tax-advantaged bitcoin with Fidelity Digital Assets via a Choice by Kingdom Trust retirement account. Announcing FDA as the Exclusive Custodian for Bitcoin held in cold storage via a Choice by Kingdom Trust account Fidelity’s Choice by Kingdom Trust launched the first unified retirement account for Stocks, Bitcoin, ETFs and 20,000+ other assets in May 2020. “Personally, I’ve grown to trust the Fidelity family of brands as an…
Seychelles-Based Bitcoin Transfers Continue to Gain Dominance, Analysts Find
A new report released on Tuesday by Crystal Blockchain attempts to categorize cross-border transactions of Bitcoin (BTC) based on their “country of origin,” which may have important implications for the Financial Action Task Force’s Travel Rule. The analysts used direct exchange-to-exchange transactions and their country of incorporation to categorize Bitcoin transfers by their provenance. Despite the fact that Bitcoin is fundamentally borderless by nature, and that a country of incorporation does not fully indicate the origin of its funds, this classification is required for complying with the Travel Rule. Crystal…