10,000 American Cryptocurrency Owners Will Receive Warning Letters From the IRS

[ad_1] On July 26, the U.S. Internal Revenue Service (IRS) announced that the tax agency has started sending letters to American cryptocurrency owners advising them to pay their taxes. According to the organization, three types of letters will be sent to more than 10,000 taxpayers by the end of August. The news follows the recent IRS taskforce slide that shows alarming recommendations on how tax agents should investigate digital currency

US-Based Traders Can Still Access Bitfinex Services

[ad_1] United States-based traders can still purportedly access Bitfinex’s cryptocurrency trading services, despite recent claims that the firm is not active in the state.An anonymous source told blockchain and crypto news agency The Block that they were able to access Bitfinex from within the borders of the state of New York, according to a July 26 report. Per The Block, the unnamed trader created an account with the tongue-in-cheek username “ImaNYresident”,

Co-Owner of Now-Defunct Crypto Exchange BitMarket Found Dead

[ad_1] Tobiasz Niemiro, co-owner of now-defunct Polish cryptocurrency exchange BitMarket, has been found dead, local public radio station Radio Olsztyn reported on July 25.The local police stated that Niemiro had been found dead with a wound in his skull near his residence in the city of Olsztyn. The exact circumstances of Niemiro’s death have not yet been established.Polish political and general news-focused newspaper Gazeta Wyborcza suggested that Niemiro committed suicide.

US Prosecutors Indict BTC-e Crypto Exchange, Seek Millions in Penalties

[ad_1] United States prosecutors have filed a complaint against now-defunct crypto exchange BTC-e and its suspected operator Alexander Vinnik, according to a document filed in the Northern District of California on July 25.Per the filing, the Financial Crimes Enforcement Network (FinCEN) determined civil penalties for BTC-e and Vinnik last year, who face fines of over $88 million and $12 million, respectively.The filing states outright that BTC-e and Vinnik did not

Lightning Network Dev Announces Alpha Version of Node Monitoring Tool

[ad_1] The Lightning Network, a second-layer blockchain protocol designed to provide high-speed transactions for Bitcoin and other networks, has a new node monitoring tool.According to an official blog post, written by software developer Valentine Wallace on July 24, Lightning Labs has released an open source “drop-in, dockerized monitoring solution” for alpha testing called lndmon.One of the main goals of this new tool is to provide a way to prevent certain

Bill Miller Hedge Fund Surges 46% Thanks to Bitcoin, Amazon

[ad_1] The hedge fund of famous investor Bill Miller saw 46% growth in the first half of 2019, reportedly in some part from investing in Bitcoin (BTC).Citing an investor document, Bloomberg reports on July 26 that Miller achieved such outstanding results by investing in Bitcoin among other high-performing stocks. Alongside Bitcoin, other investments in the Miller’s fund reportedly include Amazon, security system firm ADT, as well as Avon Products.The 69

Chinese Alcohol Wholesaler Testing Anti-Counterfeiting Blockchain Solution

[ad_1] Oranco, a Chinese alcohol wholesaler and marketer that specializes in Fenjiu liquor and imported wines, is currently testing a blockchain solution to guarantee the authenticity of its products.According to a press release on July 26, Oranco subsidiary Fengyuang Huaxin Liquor Development partnered with the blockchain- focused company Guangzhou Silicon Technology (GSTC) almost one year ago. The two companies agreed to co-develop a solution for identifying Oranco’s beverages as genuine.The

Singapore-Based Blockchain Firm Perlin Acquires Blockchain Startup Dispatch Labs

[ad_1] Singapore-based blockchain company Perlin has acquired blockchain development startup Dispatch Labs, Dispatch Labs CTO Zane Witherspoon told Cointelegraph on July 26.Perlin acquired Dispatch’s talent, provisional and non-provisional United States patents on Dispatch’s blockchain IP, and strategic business partnerships. Former Dispatch CTO Zane Witherspoon will now manage Perlin’s Developer Ecosystem. The company did not disclose the value of the transaction.The acquisition comes in the wake of the news in mid-June

Bakkt to Launch in Q3, Pending NY Financial Department Approval

[ad_1] Bakkt, a Bitcoin (BTC) futures platform still in development, is purportedly closing in on a Q3 launch date.An anonymous source close to the company reportedly shared this information with blockchain and crypto news publication The Block, according to a report on July 26.However, The Block says it has received a copy of a slide-deck indicating that Bakkt still needs the New York Department of Financial Services (NYDFS) to approve

SWIFT Vs. Ripple — The Importance of Speed in Cross-Border Payments

[ad_1] The emergence of blockchain technology has undoubtedly altered the course of global digital payment development. With the likes of Ripple and Facebook’s Libra challenging the monopoly of banks and other financial institutions, mainstream players like SWIFT, Visa and Mastercard have been forced to seek significant improvements to the legacy system.Moving forward, the burning issue appears to be relevance. Blockchain systems run on the premise of replacing the legacy system