Category: N-Economy
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Swissquote Reports 44% Increase in Profit After Adding Crypto Services
Swiss online banking group, Swissquote, has benefited greatly from the addition of cryptocurrency investing to the set of services it offers, reporting a significant increase in its H1 2018 profits. The news comes while Switzerland is debating over how to keep crypto businesses in the country when the majority of Swiss banks refuse to provide…
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South Korea Plans to End Major Tax Benefits for Bitcoin Exchanges
The South Korean government has announced a new set of tax law amendments. Under this proposal, bitcoin exchanges will no longer be eligible for income and corporate tax deductions currently enjoyed by small and medium-sized businesses. The regulators have also been considering imposing capital gains tax on the sale of cryptocurrencies. Also read: Yahoo! Japan Confirms…
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Survey: Crypto Exchanges Want Regulation but See Strict Policies as a Threat
The majority of crypto exchanges want to see the industry regulated, although many consider excessive regulation to be the biggest threat, according to a new study. A third of the platforms in the poll also fear a market crash that could suddenly devalue digital assets. A fifth of the exchanges dislike anonymity. Also read: Huobi…
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Regulations Round-Up: Holland Targets Electricity Theft, MI Republican Wants More Oversight
In recent regulatory news, Dutch police have reported an increase in electricity fraud associated with crypto mining, a Michigan Republican member of the House Financial Services Committee has urged Congress to make the development of clear guidelines overseeing the cryptocurrency industry a top priority, and digital currency advocacy group, Chamber of Digital Commerce, has published…
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Japanese Bitcoin Exchanges Planning Several Trading Restrictions: Report
The association of 16 government-approved bitcoin exchanges is reportedly working on imposing a number of trading restrictions. Jiji Press reported that there is a plan to impose trading limits for all users and additional restrictions for minors and the elderly. This follows recent reports of the association introducing margin trading limits as part of its…
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Interest in Philippines Economic Zone Crypto License Spikes – 17 Firms Paid in Full
The Philippines government-owned Cagayan Economic Zone Authority (Ceza) is in the process of issuing more crypto licenses. Interest for the license by offshore companies “surpassed all our expectations,” Ceza administrator said. Seventeen firms have already paid in full; 19 more are in the pipeline. Ceza expects to earn about $68 million from crypto licensing. Also read: Yahoo!…
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Exchanges Round-Up: Dcex Uses XRP as Base Currency, Blocktrade Enters Beta
In recent news regarding bitcoin exchanges, Dcex has launched a peer-to-peer cryptocurrency exchange that will use XRP as its base currency, ESMA regulated exchange, Blocktrade, has opened for beta testing, and Coinfield has announced a partnership with fee-free trading app Moongo. Also Read:Banks Don’t Really Want to Use ‘Blockchain’ for FX Settlement After All Dcex…
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Largest Movie Theater Chain in Thailand Going Crypto
Thailand’s largest movie theater chain, Major Cineplex, is reportedly integrating crypto payments to allow customers to pay for its services and products with cryptocurrency, including movie tickets and popcorn. Thailand recently began regulating crypto businesses. This week, the Thai Securities and Exchange Commission started accepting license applications from crypto operators. Also read: Yahoo! Japan Confirms Entrance…
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Arrington XRP Capital Owns More BTC Than Ripple
During a recent interview with CNBC Crypto Trader’s Ran Neu-Ner, Michael Arrington of Arrington XRP Capital revealed that his fund owns more BTC than XRP, and discussed the company’s decision to denominate in XRP. Also Read: Huobi Informs Users on Decision to Launch P2P Trading in India Arrington XRP Capital’s Exposure to XRP is “3 –…
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Flow and Cryptomkt Enable Crypto Payments at 5000+ Stores
Cryptocurrency exchange Cryptomkt has partnered with Chilean payment platform Flow to allow customers to pay with three cryptocurrencies at over 5,000 stores. The announcement follows two Chilean courts ruling that banks must reopen the accounts of crypto exchanges they previously closed. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space 5,000+ Stores Accept Cryptocurrencies Cryptocurrency…