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ethereum has attracted considerable interest of the CFTC
The U.S. Commodity Futures Trading Commission (CFTC) wishes to learn more about one of the most popular cryptocurrencies – ethereum (ETH). Let's try to figure out what caused such an interest from the regulator's side. **ethereum is the second most discussed cryptocurrency right now.** ethereum proposes to provide a blockchain with an integral, fully fledged programming language that can be ...
Path: BlogNew hype or a real irreplaceable instrument. Contracts of digital age.
...ure of what a security breach in a smart contract looks like. There are several examples when smart contracts were broken. In 2016 when a hacker stole $50 million from the so-called DAO (Decentralized Autonomous Organization), which was based on the ethereum blockchain. And in November of 2017 around $150 million suddenly became inaccessible to users of the wallet service Parity, which is also bas...
Path: BlogCrypto aspirations: North Korea is holding cryptocurrency conferences
... may be intended to use Bitcoin to get around sanctions as it can be converted to hard currency and moved anonymously and quickly across borders. According to the source, North Korea was excited to learn about the smart contracts that operate on ethereum platform. Since North Korea has some problems with the UN and the international community in general, it has troubles with enforcing agreemen...
Path: BlogFrom now on, Cryptocurrency Transactions are under strict AML regulation in Israel
...i Authority for Combating Terror Financing and Money Laundering has significantly increased their efforts in fighting with the money laundering throughout the digital assets. The authority will monitor not only mainstream assets like Bitcoin and ethereum, but Fintech and other financial products as well – in order to make the innovative digital financial tools secure for transactions. Shlomi...
Path: BlogCuba is up to define Crypto Regulation Guidelines
...ement made by the Central Bank of Cuba did not come as a surprise. Deutsche Welle, world-wide famous media outlet from Germany, at the very end of the last year has released a report, highlighting those start-ups in Cuba were using Bitcoin (BTC), ethereum (ETH) and other cryptocurrencies to fill the gap created after the Western Union closed more than 400 branches in the country amid financial ...
Path: BlogNigeria’s Crypto regulation as a solution for financial services
...es of fraud and other manipulations. Currently Nigeria is the biggest crypto market in Africa and is considered as a crypto-hotspot. According to Google Trends, Nigeria is ranked first worldwide in Google searches for terms like ‘Bitcoin’, ‘ethereum Nigeria, South Africa, and Kenya lead the continent in monthly crypto transfers. These activities have led SEC to introduce and implement ade...
Path: BlogLocal Swiss Authority Planning to Accept Taxes in Cryptocurrency
...,000 (approximately USD 109,000). However, partial payments in crypto will not be accepted. Currently Zug authorities accept tax payments in fiat currencies, but they intend to add an additional payment method to begin accepting taxes in Bitcoin and ethereum. Finance Director at Zug administration in official announcement said that as the home of the Crypto Valley, it is important to further pr...
Path: BlogGermany Introduces Draft Bill on Blockchain-Based Digital Securities
...awmaker stats that the issuance of digital securities is not restricted to private systems. Instead, it would also be possible to be done on public blockchains. This would create the potential for securities, according to German law, to be issued on ethereum, currently the most popular platform to issue digital assets on. Aditionally, if the legal framework is established, the procedure would be ...
Path: BlogThe UN warns on North Korean Crypto Conference
...ks and generated about $2 billion by taking funds from crypto exchanges and financial institutions. The international community is concerned that North Korea might use blockchain technology for harmful purposes. In addition, it worth noting that ethereum Foundation researcher Virgil Griffith faced the indictment after attending the previous North Korean blockchain conference in April last year...
Path: BlogRussia adopting three-tier cryptocurrency regulation
...law and remain compliant. Under the three-tier regulation, cryptocurrencies are differentiated as: **Virtual Assets** - cryptocurrency that is used to transfer values (e.g. Bitcoin) **Technical Tokens** – utility/technical tokens (e.g. ethereum) **Digital Finance Assets** - ICO tokens. It worth noting that many public institutions and authorities have developed a negative atti...
Path: BlogLegal salary in crypto. New Zealand experience
...ges were implemented by New Zealand’s tax authority under the Income Tax Act with regard to section RD 3. The Inland Revenue Department (IRD) states that released rules applies to salaries and wages paid up in cryptocurrencies such as Bitcoin, ethereum or other. An employee can receive salary in crypto assets as long as payments are made regularly, the amount is fixed and employment agreemen...
Path: BlogBitcoin and cryptocurrency litigation
...of shops that credit virtual currency as payment. ***Top Cryptocurrencies*** Websites such as CoinMarketCap track cryptocurrencies that are hitting the market and show their current value in dollars. Among the top cryptocurrencies are Bitcoin, ethereum, and Litecoin. * ***Bitcoin (BTC).*** It remains to be the most popular form of cryptocurrencies. Bitcoin price is at $6,573.69 per coin. ...
Path: BlogAttention! New guidelines for crypto holders were announced by the UK Tax Agency
... Deserving to note that the above-mentioned report explains that the method of token treatment depends rather on the token’s use case, than its definition. HMRC stated that the guideline takes into account the taxation of exchange tokens (like ethereum or Bitcoin) and does not particularly treat utility or security tokens. For utility and security tokens it provides basic principles. The ...
Path: BlogWhat is coin selection and why does it matter?
... blockchain without downloading the full database. However, UTXO has some drawbacks. Most notably, it doesn’t work for smart contract platforms given that each output can only be owned by one person. As explained by Vitalik Buterin, this is why ethereum opted for a different model, often called the Account/Balance Model. Although this model offers some benefits over UTXO, scalability is not o...
Path: BlogTierion: utilizing the bitcoin blockchain to verify documents
...ata points into the Bitcoin blockchain with efficiency. Developers decided that Bitcoin’s blockchain would be the best network to use because it’s the world’s largest and most secure blockchain. Developers looked into other options, such as ethereum, but in the end, they decided that security and decentralization were more critical than transaction speed. Tierion manages to get around the...
Path: BlogCryptocurrency: what are your options?
...n of shops that credit virtual currency as payment. **Top Cryptocurrencies** Websites such as CoinMarketCap track cryptocurrencies that are hitting the market and show their current value in dollars. Among the top cryptocurrencies are Bitcoin, ethereum, and Litecoin. * -Bitcoin (BTC). It remains to be the most popular form of cryptocurrencies. Bitcoin price is at $6,573.69 per coin. Bitc...
Path: BlogLolli: how legit is the customer loyalty program that rewards users in bitcoin
...o go! **Lolli – A Smart Initiative** Such an initiative may be a sign of the growing adoption of cryptocurrencies. If loyalty programs take off, it will almost certainly turn out to be quite the boon for established networks like Bitcoin and ethereum. Reward platforms and retailers will regularly need to buy Bitcoin as more users jump on board. This may turn out to be a tricky task conside...
Path: BlogPolymath CEO Trevor Koverko on smart investing, secret societies, and security tokens
...d Blockchain Forum in London, and here’s what we found out. **He Makes Smart Investment Choices** Active in crypto since the early days and buying his first Bitcoin on eBay, Trevor is famous for investing in early ICOs, including MasterCoin, ethereum, ShapeShift, and EOS. Before that, he was in Silicon Valley and Wall Street. And before that, he was a hockey player, making the NYR Draft...
Path: BlogHow blockchain will combat bias in news reporting
...etworks. Now, blockchain is enabling decentralized, community-run media outlets that don’t rely on chasing advertising dollars to sustain themselves. Two such projects are Civil, and DNN (Decentralized News Network) Media. Both are based on the ethereum blockchain and have the goal of creating news outlets that are driven by journalistic integrity rather than revenues. With no central cont...
Path: BlogSwitzerland Crypto License
...ticular the canton of Zug, has become the world center of business in the field of cryptocurrency. The Canton of Zug is sometimes called the crypto capital of the world and many Bitcoin service startups are located there, including Xapo, Shapeshift, ethereum, Monetas, and Bitcoin Suisse. This situation is the result of several factors: first of all, this is due to the fact that, unlike most countr...
Path: Licensing