Poles to Pay 19% Tax on Income From Cryptocurrency Transactions

The government of Poland recently submitted amended income tax regulations for approval by President Andrzej Duda. The updated framework, which includes provisions referring to cryptocurrencies, is expected to enter into force on Jan. 1, 2019. Also read: Growing Number of Crypto Companies Operating From Belarus Crypto-To-Crypto Transactions Will Not Be Taxed The changes, long-awaited by the Polish crypto-community, address the taxation of cryptocurrency-related income. The amendments follow the temporary suspension earlier this year of a controversial decision to tax all transactions involving digital money, regardless of profit or loss. This attempt…

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Miner Abandons Swedish County, Leaves $1.5M in Unpaid Electricity Bills

Two mining companies with operations in Sweden have reportedly abandoned their facilities in the country’s northernmost county of Norrbotten. One of the companies, U.S. miner NGDC, appears to have suddenly fled from the area, leaving $1.55 million in unpaid electricity bills in its wake. Also Read: Seba Crypto Eyes Swiss Bank License, Independent Reserve Integrates Tax Tool US-Based NGDC Bails on $1.55M Power Bill According to Sveriges Radio, Miami-based NGDC ceased operations in the municipality of Älvsbyn after having its power cut by Swedish electricity supplier Vattenfall. NGDC owes 14 million…

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Coinbase Ventures Backs Home Crypto Mining Startup Coinmine

Coinmine is a new startup that aims to make in-home mining accessible for non-technical users, based in Los Angeles and founded by Farb Nivi and Justin Lambert. The company has reportedly raised about $2 million from VC funds and angel investors such as Coinbase Ventures and Tinder Chief Product Officer Brian Norgard. Also Read: Kucoin Exchange Raises $20 Million in Series A Funding Round $799 Plug and Play Miner Coinmine’s debut device went on sale on Wednesday, featuring a 4 GB AMD RX 570 GPU, Intel Celeron CPU and 8…

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Canaan’s Hong Kong Listing Plans in Limbo

Plans by bitcoin mining equipment manufacturer Canaan to list shares on the Hong Kong stock exchange are now uncertain, as the Chinese company’s application for an initial public offering (IPO) expired on Nov. 14 — exactly six months after it submitted the documents to the Asian bourse. Also Read: Bitcoin ATMs Most Common Scam Payment Method in Australia IPO Will ‘Not Happen’ in 2018 Canaan’s $400 million IPO may “not happen this year as there was no update from the stock exchange for a listing hearing,” according to a report by…

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Bitcoin ATMs Most Common Scam Payment Method in Australia

The Australian Taxation Office (ATO) has warned taxpayers to be “on high alert” for phone scammers demanding payment through bitcoin ATMs. It said payments via BTC cash machines have now overtaken iTunes vouchers as the most common method of scam payment reported to the tax authority. Also Read: IMF: Central Banks Could Issue Digital Currency Tax Month November Is Prime Time for Fraudsters Around one million Australians are due to pay their taxes to the ATO on Nov. 21. In a statement on Wednesday, ATO assistant commissioner Kath Anderson said fraudsters are…

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Russian Developers to Help Iran Build Its Crypto-Economy

Experts from Russia will provide support for the development of Iran’s crypto-economy. The cooperation is part of an agreement reached by representatives of leading industry organizations from the two countries, both subjected to western sanctions.   Also read: Vietnam at Crossroads on Cryptocurrency Regulations Crypto Associations Sign Cooperation Agreement The document has been signed by the Russian Association of Cryptoindustry and Blockchain (RACIB) and Iran Blockchain Labs (IBL), an innovation hub tasked with the implementation of digital technologies in the economy of the Islamic Republic. The research and advisory center…

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$30M Shanghai-Based Cryptocurrency Trading Fund to Launch in Early 2019

Shanghai-based digital asset management company is reportedly set to launch a new cryptocurrency trading fund in partnership with an unnamed licensed asset manager in Hong Kong. Cryptocurrency Trading Fund: Arbitrage Strategy Point95 Global – a digital asset management firm based in Shanghai, is reportedly planning to set up a new cryptocurrency trading fund in partnership with an unnamed licensed asset manager in Hong Kong. Purportedly, the private fund will target professional investors and will use “arbitrage trading strategies.” These aim to capitalize on simultaneous buying and selling of related instruments…

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Mint Exchange Opens Trading for FX Brokers and Institutions

As cryptocurrency is steadily taking over the online forex trading industry, more and more specifically tailored solutions are being developed. The latest example is an institutional-grade venue built on the widely used Integral FX platform, Mint Exchange. Also Read: GMO Internet Reports Crypto Exchange Profit Up Over 34% in Q3 2018 Refreshing New Taste for FX Brokers Mint Exchange officially launched publicly today, Nov. 14, as a cryptocurrency clearinghouse providing access to major exchanges, brokers and market makers through a single gateway. It is meant to offer better liquidity for…

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Bitcoin Has Netted 0.347% Profit Per Day For Holders Since 2011

Despite the decline of Bitcoin throughout the entirety of 2018, the world’s leading cryptocurrency’s daily average profit of  0.347 percent per day has been generous for its long-term holders. Bitcoin: A Store of Value Indeed Bitcoin’s (BTC) 00 daily moving average since January 1st, 2011, is 0.347 percent in the positive. Clavestone, an institutional-grade Bitcoin key management company has come up with a tracker monitoring the cryptocurrency’s daily change. The positive daily change suggests that Bitcoin is, indeed, a reliable store of value. Moreover, despite 2018’s bear run, Bitcoin has also turned out…

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IMF: Central Banks Could Issue Digital Currency

Christine Lagarde, the managing director of the International Monetary Fund (IMF), has said central banks throughout the world should consider issuing digital currency to make transactions more secure. At a recent conference in Singapore, Lagarde argued that state-backed cryptocurrencies could satisfy public policy goals related to financial inclusion, consumer protection, privacy and fraud prevention. Also Read: Bitcoin Group SE Buys Investment Bank Tremmel Safe, Cheap and Semi-Anonymous Payments “I believe we should consider the possibility to issue digital currency,” Lagarde said in a speech this week in the city-state, which is at…

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