Sunday, September 15Your Daily Bitcoin & Altcoin News Portal

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The IRS Is Blindly Coming After Cryptocurrency Traders — Here’s Why

The IRS Is Blindly Coming After Cryptocurrency Traders — Here’s Why

BITCOIN
Please share if you find this article interesting. The IRS Is Blindly Coming After Cryptocurrency Traders — Here’s Why Over the past month, we have seen the IRS, the tax collecting agency of the United States, send out more than 10,000 warning and action letters to suspected cryptocurrency holders and traders who may have misreported digital assets on their tax returns. Letters like the 6174-A, 6173 and CP2000 have appeared in the mailboxes of cryptocurrency traders throughout the country, and the crypto tax software company that I run has seen an influx of frantic customers coming to us for tax help out of fear of penalties. The problem here is that the IRS doesn’t have all of the necessary information. In fact, not only does it not have all the information, but the information
CryptoGirl
Chinese Authorities Plan Crackdown on Crypto Mining in Inner Mongolia

Chinese Authorities Plan Crackdown on Crypto Mining in Inner Mongolia

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Please share if you find this article interesting. Chinese Authorities Plan Crackdown on Crypto Mining in Inner Mongolia Regulators in the Chinese autonomous province of Inner Mongolia have issued a notice demanding a clean-up of the province’s crypto mining enterprises. Terms of notice As local crypto outlet ChainNews reported on Sept. 14, five departments within Inner Mongolia have determined the need to rectify the mining industry within the province. The organizations named were the Development and Reform Commission, the Public Security Department, the Office of the Ministry of Industry, The Financial Office and the Big Data Bureau. According to the report, the regulators’ position is that “The virtual currency ‘mining’ industry belongs to the pseudo-financial innovation unr
CryptoGirl
How Prime Brokerage Will Affect Crypto Markets – Bitcoin News

How Prime Brokerage Will Affect Crypto Markets – Bitcoin News

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Please share if you find this article interesting. How Prime Brokerage Will Affect Crypto Markets - Bitcoin News Prime brokerage firms are coming for crypto in what’s likely to be a race of winner-takes-almost-all. Goldman Sachs is synonymous with institutional wealth and power, even to those who’ve never purchased a financial product in their life. Like the eponymous tower it occupies in Jersey City, Goldman Sachs dominates the prime brokerage trade. What will happen when crypto gains its own Goldman Sachs – an institutional investment company whose AUM grant it unprecedented sway? Also read: Crypto Facilitates Money Transfer for Restricted China Prime Brokerage Is Coming for Crypto Prime brokerage is a term that’s synonymous with financial markets, but never with crypto. Used
CryptoGirl
Founder of Payments Network Zelle Joins Stellar-Focused Startup as CEO

Founder of Payments Network Zelle Joins Stellar-Focused Startup as CEO

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Please share if you find this article interesting. Founder of Payments Network Zelle Joins Stellar-Focused Startup as CEO Stellar-focused (XLM) crypto development company Interstellar appointed the founder of digital payments network Zelle Mike Kennedy as its new CEO. On Sept. 12, the company announced the appointment in a Medium blog post. Stellar as an international payments system Kennedy’s network Zelle is the payment system used by JPMorgan Chase, Citi, Bank of America and many other financial institutions, according to its website. It is also claimed that Zelle manages over $50 billion in transaction volumes from over 25 million users. Now, Interstellar expects Kennedy and his team to build new services for Stellar. Kennedy illustrated his ideas: “With Interstellar I see a
CryptoGirl
Bitcoin Hovers Over $10,300 as Top Altcoins See Mixed Movements

Bitcoin Hovers Over $10,300 as Top Altcoins See Mixed Movements

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Please share if you find this article interesting. Bitcoin Hovers Over $10,300 as Top Altcoins See Mixed Movements Saturday, Sept. 14 — The top 20 cryptocurrencies are reporting mixed movements on the day while Bitcoin’s (BTC) price hovers over the $10,300 mark by press time. Market visualization courtesy of Coin360 The price of Bitcoin is currently up by 0.13% on the day, trading at around $10,313 at press time, according to Coin360. Looking at its weekly chart, the coin is down by about 0.46%. Bitcoin 7-day price chart. Source: Coin360 As Cointelegraph reported yesterday, Bitcoin trading is opening new avenues for citizens in communist-run Cuba, which has been financially isolated for years under a United States trade embargo. According to a recent report, Cubans are increasi
CryptoGirl
You Can Now Prove a Whole Blockchain With One Math Problem – Really

You Can Now Prove a Whole Blockchain With One Math Problem – Really

BITCOIN, CURRENT EVENTS, EDUCATION, FINANCE
Please share if you find this article interesting. You Can Now Prove a Whole Blockchain With One Math Problem – Really The Electric Coin Company (ECC) says it discovered a new way to scale blockchains with “recursive proof composition,” a proof to verify the entirety of a blockchain in one function. For the ECC and zcash, the new project, Halo, may hold the key to privacy at scale. A privacy coin based on zero-knowledge proofs, referred to as zk-SNARKs, zcash’s current underlying protocol relies on “trusted setups.” These mathematical parameters were used twice in zcash’s short history: upon its launch in 2016 and first large protocol change, Sapling, in 2018. Zcash masks transations through zk-SNARKs but the creation of initial parameters remains an issue. By not destroying a tr
CryptoGirl
Bitcoin Price Indicator May Signal Next Leg Higher

Bitcoin Price Indicator May Signal Next Leg Higher

BITCOIN, CURRENT EVENTS, EDUCATION, FINANCE
Please share if you find this article interesting. Bitcoin Price Indicator May Signal Next Leg Higher History looks to be repeating itself in the bitcoin market, as a key indicator’s bullish turn could mark the beginning of the next meteoric price rally. The world’s most valuable cryptocurrency’s price action seen over the last eight months is very similar to the moves seen in 2015, according to Bitstamp data. For instance, the bitcoin bear market ended near $3,100 in mid-December 2018 and prices built a base below $4,000 in the following three months before breaking into a bull market on April 2. Notably, the bear market drop ran out of steam two months before the 50- and 10-week moving averages confirmed a bearish crossover (in February 2019). Further, the new bull market began
CryptoGirl
Coinbase Pro to Add Support for DASH Trading

Coinbase Pro to Add Support for DASH Trading

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Please share if you find this article interesting. Coinbase Pro to Add Support for DASH Trading United States-based major cryptocurrency exchange Coinbase announced that its professional trading platform Coinbase Pro will launch support for DASH token next week. According to a Medium post published by Coinbase on Sept. 12, Coinbase Pro will start accepting DASH deposits starting Monday “for at least 12 hours prior to enabling full trading.” The launch of DASH trading, on the other hand, is planned for 9 AM Pacific Standard Time on Sept. 17. The company also noted: “Once sufficient supply of DASH is established on the platform, trading on the DASH/USD, and DASH/BTC order books will start in phases, beginning with post-only mode and proceeding to full trading should our metrics fo
CryptoGirl
US Treasury: Non-Compliant Fintechs Won’t Survive the War on Terror

US Treasury: Non-Compliant Fintechs Won’t Survive the War on Terror

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Please share if you find this article interesting. US Treasury: Non-Compliant Fintechs Won’t Survive the War on Terror United States Treasury undersecretary Sigal Mandelker stated that cryptocurrencies could become “the next frontier” in the war on terrorism. According to a press release published on the U.S. Treasury’s website on Sept. 11, Mandelker made her remarks during the 19th annual international conference on counterterrorism. Cash is still predominant While Mandelker admitted that most terrorist organizations still rely on various traditional means of financing such as cash, she also said that she believes crypto could become “the next frontier”: “Terrorist organizations and their supporters and sympathizers are constantly looking for new ways to raise and transfer fund
CryptoGirl
Nature Abhors a Vacuum: Why Trump’s Proposed Negative Rates Bode Well for Bitcoin – Bitcoin News

Nature Abhors a Vacuum: Why Trump’s Proposed Negative Rates Bode Well for Bitcoin – Bitcoin News

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Please share if you find this article interesting. Nature Abhors a Vacuum: Why Trump's Proposed Negative Rates Bode Well for Bitcoin - Bitcoin News In a recent tweet, U.S. president Donald Trump delved into an explosive, all-caps-loaded mini-rant about the necessity of getting “interest rates down to ZERO, or less.” The bombastic politician stressed the need for America to refinance its debt, trailing off with some superficially conservative speak about the U.S. and its “great currency, power, and balance sheet,” and calling the Fed “boneheads” for refusing to inflate credit bubbles further. Sycophantic support of the leader aside, negative interest rate policies (NIRP) are slowly but surely gaining prominence worldwide, setting everyone up for a fall that can only be solved by