Day: May 17, 2022

Portugal to lose crypto tax haven status as state announces gains duties

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To the chagrin of many Golden Visa seekers, Portuguese Finance Minister Fernando Medina has confirmed that his country will begin taxing cryptocurrency but has not committed to a date. The move to start taxing crypto was seconded by Secretary of State for Tax Affairs António Mendonça Mendes on May 13 according to Sapo, a local news outlet. There is not yet an effective date for the tax to start or a set rate, however. It will be levied on investment gains made from cryptocurrencies like Bitcoin (BTC), the largest crypto…

How Not to Run a Crypto Exchange

Crypto exchanges balance business interests against security risks. Users want fast withdrawals, and also expect their funds to be secure. Cold, or offline, wallets are safe from hackers but slow down withdrawals. Hot wallets, connected to the internet, are riskier yet make withdrawals easy. In 2019, MPC technology was a popular middle option, a former Liquid employee recalled. Source

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Bitcoin Is Mainly Used in Underground Economy for Illicit Activities – Featured Bitcoin News

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Former Federal Reserve chairman Ben Bernanke says the main use of bitcoin is “mostly for underground economy activities and often things that are illegal or illicit.” He added, “I don’t think bitcoin is going to take over as an alternative form of money.” Ben Bernanke on Bitcoin, Cryptocurrency Former Federal Reserve chairman Ben Bernanke shared his view on bitcoin and other cryptocurrencies in an interview with CBNC Monday. Bernanke is an economist who served two terms as the chairman of the U.S. Federal Reserve, from 2006 to 2014. He oversaw…

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Ethereum Hashrate Breaks All-Time High, Will Price Follow?

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Ethereum hashrate has been on the rise in recent times. The cryptocurrency has been one of the most profitable ventures for crypto miners and as more people flocked to enjoy some of the spoils, the hashrate has skyrocketed. It has now hit multiple all-time highs in just the space of May alone. However, the question remains if the price of the digital asset is set to do as well as it has done in terms of its mining hashrate. Ethereum Hashrate Hits New ATH The month of May would prove…