Tax Office to Contact 350,000 Australians and Remind Them to Report All Crypto Profits

Tax Office to Contact 350,000 Australians and Remind Them to Report All Crypto ProfitsAustralian tax agents have set out to close a gap they say costs the state several billion dollars. Taxpayers who file various work-related claims and investment property deductions or declare income from sharing economy platforms such as Uber and Airbnb may be asked for explanations and receipts. Investors and traders earning income from cryptocurrencies are […]

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Australia Crypto Merchant Trade Sets $74K Monthly Record With BCH Capturing 97%

Australia Crypto Merchant Trade Sets Monthly Record at $74K With BCH Capturing 97% of Spending, Report DetailsCryptocurrency payments in Australia, which have been growing in volume in the past few years, have recently scored another record. Crypto-based merchant trade across the country reached almost $74,000 in February according to a new report. Bitcoin cash has by far the largest share in retail crypto spending and transactions among coins accepted by Australian […]

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Shopify Joins Libra While Quitter Vodafone Advertises Bitcoin on Facebook

Shopify Joins Libra While Quitter Vodafone Advertises Bitcoin on FacebookFacebook’s coin project, Libra, continues to draw attention despite setbacks, including a shrinking pool of backers and a growing number of worried regulators. But now with JP Morgan seeing potential for the social network’s cryptocurrency and e-commerce giant Shopify joining the Libra Association, its chances might have improved. Although, assuring governments that Libra won’t undermine […]

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Tradeblock Estimates Post-Halving Mining Cost of $12,500 per BTC

Tradeblock Report Estimates Bitcoin's Post-Halving Cost at $12,500 per BTCOn February 7, the blockchain analytics provider Tradeblock published a report about the upcoming BTC reward halving. BTC’s block reward is expected to halve on or around May 12, 2020, and Tradeblock’s report estimates that the cost to mine BTC will be over $12,500 after the halving. Also Read: The Controversial S2F Model Predicts Bitcoin […]

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Digital Remittances Reach Record High of $96 Billion, Fees Charged by Traditional Providers Open Door for Cryptocurrencies

Digital Remittances Reach Record High of $96 Billion, Fees Charged by Traditional Providers Open Door for CryptocurrenciesIn a globalized world where labor follows capital, the remittance industry has been growing constantly in both volume and users. Traditional providers like banks and money transfer companies have been charging high fees for their services which creates opportunities for alternative digital platforms and decentralized cryptocurrencies. Also read: Russians Can Use Qiwi, Sberbank, Yandex Money […]

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5 Mining Operations Command More Than 50% of BTC’s Network Hashrate

5 Mining Operations Command More Than 50% of BTC's Network HashrateThe cryptocurrency community has been discussing mining centralization after a report was published that disclosed five mining operations command more than 50% of the BTC hashrate. At the time of publication, between F2pool, Poolin, Btc.com, and Antpool, the pools are hashing more than 59% of the BTC network hashrate. Also read: Bitcoin Verde’s New Project […]

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Cambodia Announces Own Cryptocurrency as More Details Surface About China’s Digital Yuan

Cambodia Announces Own Cryptocurrency as More Details Surface About China’s Digital YuanWith China still in the lead, other countries are advancing their projects to develop payment systems around central bank digital currencies (CBDCs). Cambodia, for example, has recently revealed it will mint its own coin within months. The news comes as more details about the digital Chinese yuan indicate its main purpose will be to substitute […]

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US Bank Silvergate Sees Growth in Crypto Clients, Despite Decreasing Deposits From the Sector

US Bank Silvergate Sees Growth in Crypto Clients, Despite Decreasing Deposits From the SectorFinancial results released by two U.S. banks providing services to the crypto industry have indicated a decline in deposits from digital currency customers. However, a positive trend has been observed as well. One of the crypto-friendly institutions, Silvergate Bank, has seen an increasing number of crypto clients throughout the year. Also read: Swiss Bank Julius […]

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Deutsche Bank Report: Digital Yuan Could Upset Global Power Balance, Plastic Will Die, Cash Survive

Deutsche Bank Report: Digital Yuan Could Upset Global Power Balance, Plastic Will Die, Cash SurviveA new report from Deutsche Bank Research, Digital Currencies: the Ultimate Hard Power Tool, predicts that cash payments will remain for decades, but the emergence of digital payments “will lead to the death of the plastic card.” The report, which is the third installment in a series on payments by the group, points to economies […]

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Companies Keep Flocking to Swiss Crypto Valley, Over 1,000 Jobs Added in a Year

Companies Continue to Flock to Swiss Crypto Valley, Over 1,000 Jobs Added in a YearCrypto Valley, a fintech-friendly region centered on the canton of Zug, has been expanding to other parts of Switzerland and neighboring Liechtenstein. Despite all the challenges facing the blockchain industry, favorable regulations and improving access to banking and legal services are attracting more and more crypto companies. Their number has increased for a third consecutive […]

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