View: 473
Want create site? Find Free WordPress Themes and plugins.

A source from Spain’s tax agency has confirmed that requests have been sent to over 60 companies by Spanish tax authorities to get information about the cryptocurrency users.  According to the source, the authorities have contacted almost a dozen cryptocurrency exchanges, 16 banks, companies operating cryptocurrency ATMs and over 40 businesses that allow online cryptocurrency payments.

crypto taxes

Details of Requests

The agency is looking for an authentic information about the transactions of cryptocurrencies as well as the parties that are involved in their implementation. The details of these requests include:

  • The identities of the businesses’ clients.
  • Bank account Information.
  • Credit card information.
  • The amount in the bank account/credit card.
  • Exchange rates involved in transactions.

The tax agency source has defined these information requests as an opening to the stricter investigation and scrutinizing. The source also added that the agency is already doing an analysis on the use of domestic cryptocurrency. The news originates from a sensitive interest amongst the international tax agencies in cryptocurrency, one that follows the surge of the market to over $800 billion in value.

Improved Oversight and Supervision

In addition, the news follows exertions from the ministry of finance, which manages the tax agency, to focus on cryptocurrencies including Bitcoin, as it was released in an official announcement which was published in the month of March. At the time, officials of government remarkably wanted to connect the technology to organized delinquency, calling for improved omission and regulation.

The worldwide regulatory environment has now become more challenging for cryptocurrency investors, especially for those who once bloomed in a climate of obscurity and legitimate ambiguity. Also, Australia has announced that it is imposing new regulations on digital-currency exchanges. Spain is not the first country which is sending out warnings to the market involving the buying of cryptocurrency and crypto taxes, linked to the activity because this is something that numerous countries are trying to crack down on, and it also makes it clear that buying digital coins will not provide exception from tax.

Did you find apk for android? You can find new Free Android Games and apps.

Leave a Reply

Type Comments Here

Your email address will not be published.

Share Your Toughts

View: 552

Bitcoin Is Worth More Than Gold – But Way Behind In Stability

Want create site? Find Free WordPress Themes and plugins.

Ever since its creation, Bitcoin has had its ups and downs in terms of both survival and price stability. However, as of late, the currency has been on the rocket-ship ride; going past $4000 mark for the first time last week.

Some investors view Bitcoin as something which can be compared to gold, and rightly so. Because just like gold, Bitcoin is not governed by any government or a central authority. One of the advantages of Bitcoin’s autonomy is that it makes Bitcoin insulated to any financial or economic crisis in a country. On the other hand, the fiat of that country can’t really cope with the crisis and more often tends to take a nosedive.

In fact, Bitcoin can benefit from the uncertainty and crisis, just like gold does. A recent example is Donald Trump winning presidential elections as both gold and Bitcoin surged 3% and 4% respectively in the aftermath.

Some investors are also relating the latest spike in Bitcoin to the potential war between North Korea and USA over NK’s nuclear problem.

Regardless of all the similarities, there is still one noteworthy difference between gold and Bitcoin: Gold is substantially more stable and the graph below shows it all:

The graph comprises of the data taken from Onvista and Coindesk. So, if you are looking to make a safe investment, Gold is still the way to go.

News Credit: BusinessInsider

Did you find apk for android? You can find new Free Android Games and apps.
View: 537

Bitcoin News Today – Bitcoin Involved in a Civil War, Here’s One Way to Explain

Want create site? Find Free WordPress Themes and plugins.

Bitcoin Civil War:

A civil war is going to take place in Bitcoin world, it is putting the future of red-hot digital currency in question. Bitcoin is high over 250 percent since last year, but its price has experienced big swings in the past few months. The CEO of BitMex, Arthur Hayes, he thinks the recent instability in the price of Bitcoin reflects the doubt surrounding the outcome of this war, that would decide on 1st of August when crypto-power dealers determine how the technology will structure that influence the currency.

The Main Story:

The current Bitcoin battle relates to the design of digital currency. According to Bitcoin campaigner Paul McNeal, the blockchain network of Bitcoin can only process so much data at a time. In technical language, the blocks which transfer the information in the chain are restricted in their size to 1MB.

McNeal says this was done for the purpose to protect the blockchain network from the hackers and some other cyber security threats. As the number of digital currency users has increased, so it takes more time for transactions to process. According to Morgan Stanley, Bitcoin transaction has made more expensive because of this, which is one of the main reasons that why merchants have not been so active to accept Bitcoin as a form of payment. Consumers have limited places for their Bitcoin to spend and it shows that merchants don’t have a sufficient number of consumers to make it worth, to invest the energy, and the capital to understand and accept.

The Battle Line:

The size issue of blockchain has drawn a battle line between the two main camps. On the one side, you have people which are mostly miners, who think that the size of blocks should increase because it will be economically profitable to do so.  The other are those people who want to maintain the size of the blocks, safety, and security of the network.

People who want to maintain the block’s size are the core developers. They maintain the code and also responsible for apply changes when necessary for future innovation, according to McNeal. By this job, they keep the blockchain stable.

The view to increasing size of the blocks more than the current 1MB cap will be a risk to the whole networks. For this purpose, they’ve come up with another solution to the problem called as SegWit. Some core developers are trying to move the activity on Bitcoin blockchain to an external network.

Bloom berg wrote that moving data from the blockchain successfully diminish the inspiration of the miners, people who are basically from China, and the people who have invested millions in huge server farms.

According to McNeal to find a middle ground for all of them, some miners and business executive have created a proposal, called as SegWit2X, that would change the threshold for applying SegWit down to 80 percent and also it allows for a small increment in the size of blocks in the chain to 2MB.

Fundamentals on the both sides of the dispute are in their positions. This may finally lead to a split in Bitcoin world, thereby making more than one Bitcoin currency.

Did you find apk for android? You can find new Free Android Games and apps.
View: 537

Mastercard Scrutinizes Blockchain To Fight False Identities

Want create site? Find Free WordPress Themes and plugins.

Mastercard, which is considered as a payments giant has filed a patent, suggesting that it sees blockchain as a mean to protect the identity data. The U.S. Patent and Trademark Office (USPTO) released an application on last Thursday, that Mastercard has defined a system in the application, in which a semi-private/private blockchain would be used to collect and store identity information, including; name, tax identification number, and street address.

blockchain based database

The Mastercard company has stated in the filing, that the technology could help it to block the use of false identity data inside its systems, as it initially succumbed back in September 2017 and it seems like the Mastercard and blockchain get along with each other quite well.

Mastercard Company Statement

According to Mastercard:

“The use of a blockchain for the storage of identity and credential data may provide for an immutable storage of such data that can provide an accurate verification thereof and also prevent the fabrication of such data.”

The network proposed by Mastercard would just permit specific nodes to submit data. These authorized-nodes would work to avert the data addition that may negotiate the precision of the data stored within. The filing also elucidates that data files for all entities will be generated by the system respectively, which would be linked to a public key as well as geographic authority. The entities would be subsidiary, whereas a superior entity would carry out a digital sign on their data files.

Mastercard Approved Nodes:

Only nodes approved by Mastercard can update the identity information inside the system and according to Mastercard, the projected system could perhaps substitute other ways of demonstrating the identity that might be vulnerable to forgery and imprecisions.

The company also said:

“In such instances, it may be difficult for an entity to disprove a false identity, leading to an interaction with an inauthentic individual or entity. Thus, there is a need for a technical solution to provide for the immutable storage of identity and credential data that may prevent fabrication and inaccuracies.”

 

Until now, Mastercard has submitted numerous patent applications related to the blockchain. One filing proposed an infrastructure that could enable refund services for the users of cryptocurrency. Another filing explained a blockchain based database that could promptly process payments, notably dropping the transaction settlement times. Also, the payments tech company announced that it was going to hire 175 new technology developers, as well as blockchain specialists.

Did you find apk for android? You can find new Free Android Games and apps.
View: 582
View: 541

A Violent Shock For JPMorgan Chase As the Lead Quits

Want create site? Find Free WordPress Themes and plugins.

JPMorgan Chase & Co is a well known financial services company which operates around the globe. Along with blockchain projects its financial operations include:

  • Corporate & Investment Bank,
  • Consumer & Community Banking,
  • Asset & Wealth Management,
  • Commercial Banking.

blockchain startups

Founded in 1799, JPMorgan Chase & Co. has its headquartered in New York and is thought to be one of the most dependable financial services company. All was going on very well for the company until Amber Baldet, an executive leader of JPMorgan’s blockchain, decided to quit the company in order to head for her own new Blockchain initiative.

Who In Fact Is Amber Baldet?

Amber Baldet was one of the main executive leaders of JPMorgan’s blockchain business. She was head of the development of JPMorgan’s authorized Blockchain platform. She had been acting as the lead for project development of Quorum as well as working on the firm’s overall Blockchain technologies strategy. In true words she was the architect of JPMorgan’s blockchain startups, securing a critical position at JPMorgan’s Blockchain Center of Excellence. She has done so in order to launch her own blockchain firm. Quorum is JPMorgan’s Blockchain and smart contracts platform.

 

Amber Baldet was nominated as one of the most influential people in the history of Blockchain by BlockDesk in 2017. She was heading the JPMorgan’s Blockchain Center of Excellence since it was founded in 2015. She was considered to be the most precious assets of JP Morgan in terms of blockchain endeavours.

Who Will Take Over Amber Baldet’s Position?

It took a very short time for JPMorgan’s executive committee to name Baldet’s successor. Christine Moy has been appointed as the new executive leader in place of Amber Baldet. She was the senior product manager working under the supervision of Amber Baldet and by chance was also appointed by her. In fact she had been working with Amber Baldet since the very beginning of the blockchain project. Later on the company admitted in a statement that Amber Baldet was no doubt extremely committed and helpful for JPMorgan to build an outstanding team. Christine Moy  was one of the team members who was groomed and trained by Amber Baldet herself.

 

Baldet’s departure from the company was after all on good terms, as was exclaimed by JPMorgan spokesperson in an interview with Reuters, he stated that the company had a respect and best wishes for her as well as her desire to start her new venture.

 

As far as the case of smart contract platform Quorum is concerned JPMorgan considers it to be the “enterprise-focused version of Ethereum.” It is basically meant for the clearing of interbank payments with the help of blockchain.

Did you find apk for android? You can find new Free Android Games and apps.