Georgia Exempts Bitcoin From VAT to Become the Next Country to Affirm Its Currency Status

[ad_1] Cryptocurrency taxation is a subject that concerns a growing number of users, traders and investors. An area that creates a lot of confusion among taxpayers is the application of VAT, or the value-added tax most countries levy on the sales of goods and services. Georgia has become the latest nation to free crypto-fiat transactions from VAT, a decision that affirms Bitcoin’s status as a currency. The same has already

Brazilian State Launches Blockchain Platform for Government Contract Bids

[ad_1] In Brazil, the state of Bahia has launched a blockchain application to track the process of public bidding on government contracts, according to a report by Cointelegraph Brazil on July 12.The blockchain-based solution, called Online Bid Solution (SOL) was reportedly developed by Cayenne Technology and Design. Bids will reportedly be completely transparent and secure due with the application of blockchain tech.According to Bahia government, the intended beneficiaries of SOL

Ethereum-Based Augur Enhancement App Veil Closes Up Shop

[ad_1] The Ethereum-based predictions platform Veil is shutting down, according to an official Medium post on July 11.As of July 11, no new markets will be added to the platform. Trading will be disabled entirely on July 24. Veil co-founder Paul Fletcher-Hill recommended that users redeem open positions, withdraw positions from active markets, and withdraw Veil Ether and convert it to Ether. Veil was a type of extension to the Ethereum-based

US Senate Committee Approves Blockchain Bill As Crypto Insiders Protest Against Regulations

[ad_1] Based on a recent report, the Department of Commerce is a step closer to a standard definition of “blockchain” on the federal level as the United States Senate Committee on Commerce, Science, and Transportation has granted its approval to the Blockchain Promotion Act on 10th July. The bipartisan bill creates a blockchain working group and is one of several efforts toward the planning of a defined regulatory framework. The

Texas Federal Court Orders Bitcoin Scammers to Pay $360K

[ad_1] According to a recent report, the United States Commodity Futures Trading Commission (CFTC) has made it known that a Federal Court in Texas has ordered two defendants to pay a fine of $360,000 for a carrying out a fraudulent scheme so as to relieve people of their Bitcoin (BTC). On 28th June, 2018, Judge Reed C. O’Connor, the presiding Judge at the U.S. District Court for the Northern District

Miners Flock to Iran Where Bitcoin Mining Is Set to Be Sanctioned

[ad_1] According to regional reports, the Central Bank of Iran (CBI) is planning to allow licensed cryptocurrency mining as long as operations are charged for electricity based on the price of export. The CBI governor, Abdol Nasser Hemmati, explained that mined cryptocurrencies should flow back into the Iranian economy. Also read: Bitcoin Miner Recounts Struggle to Obtain Cheap Iranian Power Chinese Miners Negotiate With Iranian Leaders to Set Up Mining

Co-Founder of Now-Defunct BitFunder Gets 14 Months Imprisonment

[ad_1] The operator of now-defunct Bitcoin (BTC) exchange BitFunder, Jon Montroll, has received a 14 months prison sentence following federal charges of obstruction of justice and securities fraud, finance and trading industry news outlet FinanceFeeds reported on July 12.The proceedings against Montroll began last year. In July 2018, Montroll pleaded guilty to obstruction of justice, admitting that he provided false balance statements to the United States Securities and Exchange Commission

Ethereum Co-Founder Mihai Alisie Concerned Over Libra Centralization

[ad_1] Ethereum’s co-founder Mihai Alisie is extremely concerned that Facebook is attempting to hoodwink regulators into approving a centralized “cryptocurrency,” according to a report by Bloomberg on July 11.In an interview with Bloomberg, Alisie stressed that Facebook is attempting to get regulator approval for its yet-to-be-released virtual currency Libra by claiming that it will not be centrally controlled by Facebook, or other business giants, five years down the line.Alisie reportedly

Bitcoin Price Analysis: Bullish Divergence At $11,500

[ad_1] Bitcoin price hit a peak of $13,000 on the 10th of July just two days ago. Since this price levels have pulled back to POC (Point of Control) around $11,300 as mentioned in my previous bitcoin price analysis. Three descending lows are evident on the 30 Minute time-frame alongside descending volume and ascending RSI which is a clear indication of bullish divergence. Bitcoin Price 30 Minute Analysis On the

Prasos Secures Payment Institution License From Finnish Watchdog

[ad_1] Finland-based cryptocurrency firm Prasos has secured a payment institution license via the Finnish Financial Supervisory Authority (FFSA). The news comes by way of an official announcement via its crypto exchange website on July 12.According to the announcement, Prasos is now the third crypto firm in Europe to secure a payment institution license. According to its website, Prasos operates a crypto exchange, a crypto investment platform, and Bitcoin (BTC) ATMs.Prasos stated