Pi Union
Published in

Pi Union

Crypto News

15 July, 2019

The Republic of Georgia exempted cryptocurrency companies from paying value added tax (VAT), according to the already signed bill.

According to the report, the Minister of Finance of Georgia, Nodar Khaduri, recently signed a bill aimed at regulating the taxation of enterprises that sell or extract cryptocurrency. The bill came into force at the end of June.

The network of independent retailers IGA, which includes 1,400 stores located throughout Australia, has begun to accept payments in Bitcoin and other cryptocurrencies.

Binance cryptocurrency exchange registered a huge influx of USDT, which cost was $ 1 billion (yes, you read everything correctly, $ 1 billion) in Tether. Mostly they were converted to bitcoins.

Functioning on the base of the blockchain Ethereum, the prediction platform Veil is closed, according to a publication in the project’s blog.

Starting from July 11, no new markets can be added to the platform. Trade will be completely stopped on July 24th. Veil co-founder Paul Fletcher-Hill recommended that users close their active positions and withdraw funds from the platform, converting them into regular broadcast.

Veil was created as an extension of the Augur prediction platform, which uses Ethereum smart contracts to enable users to bet on future events and continues to function.

On July 12, Venezuelan President Nicolas Maduro ordered the supply of part of the country’s car industry products for Petro’s cryptocurrency worldwide.

The president said: “We have to start exporting a certain percentage of the car industry to the international market and have income and invest, through Petro, sell up to 50% of the car industry’s products”.

Maduro expects that this will turn Petro into convertible currency. “I want to sign a decree with this decision to facilitate the sale of cars,” he said.

John Montroll, founder of the BitFunder “stock” Bitcoin exchange and the WeExchange platform, was sentenced to 14 months in prison in the Southern District of New York, CoinDesk reports.

The US Senate Committee on Trade, Science and Transport approved the first bill to regulate relations in the blockchain industry, local media reported.

For the first time, the document defines blockchain technologies and lists their use cases. First of all, the document focuses on software developers, the expert community and suppliers of goods and services.

Back in early May of this year, information was received that a working group was created in the House of Representatives of the US Congress, whose task is to assess the potential of blockchain technologies and promote the topic of cryptocurrency regulation.

The same group now begins to work in the Senate Committee. Within one year, senators must submit a report to Congress, which will give a clear definition and purpose of blockchain technologies. In addition, the authors of the report should tell US lawmakers about the impact of industry on public administration and security.

The company TokenSoft announced that the Tezos [XTZ] cryptocurrency will be used by its clients to issue tokenized shares. Previously, Tezos had already participated in the asset tokenization, then it was real estate.

Partitalia launched a blockchain waste management project for cooperation in which three international universities were chosen: the School of Advanced Studies named after St. Anne of Pisa, the University of Pisa, and the Polytechnic University of Milan.

Also, to work on the project, a partnership has been concluded with the Meditchain consortium from Palermo, created for training in the blockchain technology.

Bitcoin Core developer Michael Ford received a grant of $ 60,000 from the parent company of the BitMEX cryptocurrency exchange.

On July 12, the owner of HDR Global Trading announced its decision to reward Michael Ford, noting that he also entered the list of official maintainers of the Bitcoin Core project.

This means that the key of this developer has been added to the “list of trusted keys” file on GitHub, and this gives him the right to change the Bitcoin Core code base. The company HDR Global Trading has declared that its solution is aimed at material support for those who voluntarily contribute to the further development of cryptocurrencies

MyCryptoWallet clients of the Australian cryptocurrency exchange fear for their assets, because after a “significant loss” the exchange has suspended service for the second time in the last six months.

Until then, myCryptoWallet was freezing withdrawals in January 2019, when the National Australian Bank suddenly closed its bank accounts. However, the work was restored quickly.

Two days ago, the stock exchange informed customers that it was forced to “limit” withdrawals and suspend its myCryptoCard program, as its “deposit technology partner” suddenly terminated.

This Friday Binance Cryptocurrency Exchange carried out the eighth quarterly burning of its Binance Coin (BNB) token.

This time, 808 888 BNBs worth about $ 23.8 million, which belonged to the exchange team, were incinerated. Initially, the team was allocated 40% of the total BNB emissions (80 million tokens for $ 4.2 billion). In the future, Binance expects to destroy all these tokens.

CEO Binance Changpen Zhao explained that his company “intends to develop the Binance ecosystem without using a single BNB from the initial allocation.”

Zhao said that the total BNB proposal would still be 100 million, adding that now the value is 189 million BNB, of which 89 million still have to be destroyed. At the same time, he noted that the Binance team is likely to remain one of the largest holders of BNB, since the company receives most of the profits in BNB and then distributes them among its employees.

American professional football team Miami Dolphins announced that Litecoin (LTC) is now the official cryptocurrency team

The Japanese Bitcoin exchange BitPoint underwent a hacker attack, which resulted in theft of about 3.5 billion yen ($ 32 million) in cryptocurrency equivalent. Currently all operations on the platform are suspended.

After the recently held G20 summit in Japan, where cryptocurrencies and blockchains were among the topics discussed, the FSA (Financial Services Agency) reported that 110 exchanges applied for a license to work in Japan.

The waiting list also includes the LINE Corporation, which deals with the same-name messenger application. The company is almost ready to license its stock exchange BITBOX, which currently operates in many countries around the world, with the exception of the United States and Japan. Being one of the first countries in the world that promoted cryptocurrency, Japan can boast a large user base of cryptocurrencies and is second only to the USA in terms of volumes on exchanges.

In April 2019, out of 23 new candidates, FSA licensed two cryptobirds — Rakuten Wallet Co Ltd and DeCurret Co Ltd. For comparison, in 2017, 16 applications were submitted for obtaining a license for the provision of cryptographic services, but after a change in legislation related to the burglary of Coincheck, only 3 exchanges received permission.

In addition, the FSA has introduced the mandatory use of cold wallets that are not connected to the network and work offline, providing customers with greater security of funds.

In addition, the agency also analyzes internal security measures to protect data that is managed by exchange employees.

Alex Zask
Ex Pi

follow us on Facebook

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store