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IRS Introduces New Form 1099-DA for Reporting Income from Digital Asset Transactions

A preview of the new Form 1099-DA, a tax form that will be used by cryptocurrency brokers to record transactions involving digital assets, has been made available by the Internal Revenue Service (IRS) of the United States of America. As part of the continuous efforts of the Internal Revenue Service (IRS) to enhance compliance and … Continue reading IRS Introduces New Form 1099-DA for Reporting Income from Digital Asset Transactions

The World Economic Forum Forms Six Tech Policy Councils Including Blockchain

The World Economic Forum (WEF) launched six different “fourth industrial revolution councils” to help regulators working on the new technology policy guidance. The new technology included artificial intelligence, autonomous mobility, blockchain, drones, internet of things and precision medicine, as revealed on 29 May. The councils gathered for the first time for the Fourth Industrial Revolution Network … Continue reading The World Economic Forum Forms Six Tech Policy Councils Including Blockchain

Ethereum Hit 1 million Daily Transactions since May 2018

As reported by leading Ethereum block explorer Etherscan, Ethereum hit over 1mn daily transactions on 28 June, the first time since May 2018 (see Exhibit 1). Exhibit 1: Daily Transactions of Ethereum Source: Etherscan There were 1,004,170 transactions confirmed on the Ethereum blockchain on 28 June, yet it is still lower than the peak on … Continue reading Ethereum Hit 1 million Daily Transactions since May 2018

Coincover Sets Eyes on Crypto-based Insurance Service

Coincover, a Cardiff based start-up in the United Kingdom, has gone a notch higher by introducing a crypto-based insurance service. The primary objective of this move is deterring asset loss and theft in the cryptocurrency space.  The novelty of Coincover has made it a reckoning force in the technological sector. For instance, it was recently … Continue reading Coincover Sets Eyes on Crypto-based Insurance Service

Hong Kong with its Incredibly Unique Positioning in FinTech

In the second part of our interview with Peter Mok, Head of Incubation and Acceleration Programs at the Hong Kong Science and Technology Park (HKSTP), he went into detail on the initiatives they have developed to combat the global talent shortage, bring Hong Kong’s lagging Fintech industry up to speed and he tells us how … Continue reading Hong Kong with its Incredibly Unique Positioning in FinTech

UK Financial Watchdog Increased Crypto Investigations by 74% in 2019

The Financial Conduct Authority (FCA), the primary financial regulatory body in the United Kingdom, has seen a sharp rise of 74% in crypto-related investigations in 2019.   According to a Financial Times report, the 74% increase was seen when compared to the number of inquiries the FCA made between January and October of 2018. The report stated … Continue reading UK Financial Watchdog Increased Crypto Investigations by 74% in 2019

Heads of SEC, CFTC and FinCEN Jointly Warn Crypto Industry to Follow Regulations

The heads of the three major US financial regulators have issued a joint statement warning the cryptocurrency industry to adhere to banking regulations in the development of digital assets.  The joint statement was signed by Commodity Futures Trading Commission (CFTC) Chairman Heath Tarbert, Financial Crimes Enforcement Network (FinCEN) Director Kenneth Blanco and Securities and Exchange … Continue reading Heads of SEC, CFTC and FinCEN Jointly Warn Crypto Industry to Follow Regulations

DLive Introduces Decentralized Video Streaming to Increase Customer Base By Over 50 Million Monthly Users

Videos have become the norm of online content. Nowadays, it is far more common for an individual to watch a short video than to read a lengthy blog. YouTube has been the king of online video for many years. But several people are beginning to look elsewhere for an alternative because YouTube declines to embrace … Continue reading DLive Introduces Decentralized Video Streaming to Increase Customer Base By Over 50 Million Monthly Users

FinCEN Director Warns Crypto Firms Are Not Above Anti-Money Laundering Laws

Speaking at the University of Georgetown, Kenneth Blanco, FinCEN (The United States Financial Crimes Enforcement Network) Director, blasted crypto firms by warning them that they are not exempted from the anti-money laundering laws. This was first reported by AmericanBanker on 21 October 2019. According to the news, Blanco is adamant that fintech firms that offer … Continue reading FinCEN Director Warns Crypto Firms Are Not Above Anti-Money Laundering Laws

Bitwala Incorporates CryptoTax for Better Tax Reporting

On Oct. 22, Bitwala, a German Licensed Bitcoin Banking Service App, announced its new integration with CryptoTax, an entity that assists crypto users to adhere to yearly tax declaration deadlines.  Bitwala asserted that crypto tax headaches would become a thing of the past based on the introduction of CryptoTax that is deemed the brand new … Continue reading Bitwala Incorporates CryptoTax for Better Tax Reporting

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