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Tag: Cryptocurrency

$1 Billion Dollar’s Worth of Cryptocurrency Stolen in 2018

According to cryptocurrency intelligence firm CipherTrace’s Q3 Cryptocurrency Anti-Money Laundering report, as of quarter-three, 2018, cryptocurrency thefts had already reached $927 million. The blockchain cybersecurity professionals identified theft and hacks at platform layers and exchanges to be a major problem, evolving further from its Q2 findings. In the CipherTrace second-quarter report, the company identified that…

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Israel’s Tax Body Aggressively Pursuing Cryptocurrency Tax Evaders

The tax-collection agency of Israel is targeting cryptocurrency traders and investors in an aggressive push aimed at stemming tax evasion. According to the financial daily Calcalist, the Israel Tax Authority (ITA) has taken stern measures aimed at nabbing those suspected of not reporting gains made from cryptocurrency investments and trading. Some of the measures taken…

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Why South Korea Will Play a Major Role in Cryptocurrency Adoption

As a high-tech hub known for its consumer electronics, tech giants, esports, and global innovation, perhaps it’s not surprising that a report by Cindicator revealed that South Korea will play a major role in cryptocurrency adoption. By reviewing existing data on exchange volumes, recent economic history, regulation, and trends, the tokenized fintech asset management company…

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Halal: Islamic Scholars Certify Swiss Crypto Firm X8’s New Cryptocurrency

Twitter Facebook LinkedIn The issue of Islamic classification of cryptocurrency has been ongoing since the rise of bitcoin’s popularity, with debate over whether or not bitcoin and other cryptocurrencies are considered halal (permitted) or haram (forbidden). This is due to the stringent guidelines regarding monetary classification laid out in the Muslim faith, with conditions forbidding usury (the act…

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Thailand’s Deputy Prime Minister Calls for More Cryptocurrency Regulations

Twitter Facebook LinkedIn The Deputy Prime Minister of Thailand, Wissanu Krea-ngam, has called for the enhancement of cryptocurrency regulations in the country. Speaking during the fourth regional Counter-Terrorism Financing Summit which took place in Bangkok, Wissanu argued that there was a need for more domestic and international legal measures to be put in place to…

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IRS Advised to Provide Better Guidance on Cryptocurrency Transactions

The Information Reporting Program Advisory Committee is a body which was established before the Internet was a major consumer network and is a result of federal government reorganization and, importantly, efforts to modernize and improve the IRS brought about by the Omnibus Budget Reconciliation Act of 1989. The committee periodically suggests actions the IRS needs…

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Kenyans Pay Local Restaurant Bitcoin for Meals and Classes on Cryptocurrency

Mount Kenya provides visitors with a picturesque appeal reminiscent of the ambiance in a world of utopia. Beyond the charm and aura lies a tech-savvy Kenyan restaurant that has incorporated cryptocurrencies for facilitating payment. Betty’s place puts its culinary skills into effective use in “nyama choma,” a tantalizing goat meat barbeque that many Kenyans savor.…

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