Crypto Digest #23: Tax payments in crypto, Ethereum in oil industry, ‘inevitable‘ IMF regulations
Published in
3 min readFeb 12, 2018
Arizona is getting closer to legalize tax payments in crypto, ConsenSys working on a blockchain solution for oil and gas industry and IMF is keeping an eye on dark crypto things. Take a dive in today’s crypto news with us.
Arizona gets one step closer to accepting tax payments in crypto
- Arizona’s Senate passed a bill on 8th of February to allow the residence to pay their taxes in “Bitcoin, Litecoin or any other cryptocurrency recognized by the department”.
- The bill is sent to Arizona’s House of Representatives who have to decide whether to adopt it or not.
ConsenSys and Amalto develop blockchain solution for Oil industry
- The most influential Ethereum formation ConsenSys and cash-to-order automation company Amalto are working on a venture for oil and gas supply chain industry.
- The joint venture called Ondiflo will use Ethereum’s smart contracts to improve the order-to-cash process in the oil and gas industry.
- As stated by ConsenSys’ founder Joe Lubin “Ondiflo will deliver efficiency to processes, which today are still largely manual and paper-based, like field ticketing or bill of lading, and are ready for the blockchain.”
IMF Managing Director considers crypto regulations as inevitable
- The Managing Director of IMF Christine Lagarde stated in her interview with CNNMoney that IMF considers crypto regulations to be “inevitable” due to the potential of illicit financial activities.
- According to Christine Lagarde “there is probably quite a bit of dark activity” in cryptocurrencies. This is an accusation which is used quite a lot by bankers and regulators and was also voiced in the recent statement of the general manager of the Bank for International Settlements.
