IRS Advisory Committee Requests Clearer Guidance for Crypto Tax Code

On October 24, 2018, an advisory committee to the Internal Revenue Service (IRS) published a report calling for clarity on the IRS’s position toward cryptocurrency taxation. The Information Reporting Program Advisory Committee (IRPAC) recently released its annual report advising the IRS on possible areas to improve the tax code, specifically referring to data gathered throughout […]

Crypto is Property: Chinese Court Upholds Citizens Rights to Own Bitcoin

The Shenzhen Court of International Arbitration (SCIA) has recently affirmed that cryptocurrencies, specifically bitcoin and several of its hard forks, are considered legal property and Chinese citizens have a right to own and transfer them. The SCIA recently published an analysis of a contract dispute over WeChat, describing the legal proceedings of a case in […]

Bitfury May Be Mulling Over an IPO

Bitfury, a leading mining firm and blockchain software company, is reportedly in talks with global investment banks in Europe and Hong Kong as it mulls an Initial Public Offering (IPO), according to Bloomberg sources close to the matter. The source also indicated that Bitfury is mulling other strategic options alongside the IPO, including debt financing […]

Australian DTA Tells Senate There is Better Technology Than Blockchain

Australia’s Digital Transformation Agency (DTA) has told the Senate that there is better technology for every use of blockchain considered today. The agency received AU$700,000 from the Australian 2018-19 Budget to explore blockchain for efficient government services purposes. Australian Government to Launch Blockchain Applications In May, the DTA was sent on a mission to look […]

German Court Ruling Raises Questions about Bitcoin’s Legal Status

Until recently, Germany’s Federal Financial Supervisory Authority (BaFin) classified bitcoin as a financial instrument, but a subsequent court ruling disclaimed this categorization and decided that the cryptocurrency does not meet this definition under the terms of the German Banking Act (KWG). Bitcoin Unrecognizable to German Legal Framework The Berlin Court of Appeal in September dismissed […]

DeVere CEO: Crypto Market to Increase by 5,000% in Its Second Decade

The CEO of global financial consultancy firm the deVere Group has stated that the cryptocurrency market will expand by a massive 5,000% over the next 10 years. Nigel Green also believes that Bitcoin’s dominance will continue to fall during the same period. Nigel Green: Competition Will Weaken BTC, But Where is It? As Bitcoin’s first […]

5 Reasons Why VanEck’s Bitcoin ETF Should be Approved by the SEC in 2019

At a meeting with the US Securities and Exchange Commission (SEC) commissioner Elad L. Roisman, representatives from SolidX, VanEck, and CBOE presented five major reasons why the commission should approve the Bitcoin exchange-traded fund (ETF) filing of VanEck and SolidX. VanEck, an investment management firm headquartered in New York that has decades of track record […]