Remove blockchain Remove Capital Remove Regulation Remove Taxes
article thumbnail

Bitcoin Daily: S Korea Eyes New Crypto Income Tax; Less Network Traffic Causes Drop In Bitcoin Fees

PYMNTS

Earlier in the month, they had hit a high of around 201 BTC on May 21, reports from blockchain intelligence firm Glassnode say. Users pay fees to miners for transactions on the blockchain, and miners also receive a fixed amount of BTC for each block mined, which halves every four years.

Taxes 142
article thumbnail

Bitcoin Daily: Korean Commission Suggests Allowing FIs To Offer Crypto; China’s OneConnect Platform Supports New Blockchain Financing Product

PYMNTS

China’s Guangdong province has launched a blockchain financing platform for small and medium-sized businesses, backed by OneConnect , a Chinese FinTech recently listed on the New York Stock Exchange, according to a press release. . In other crypto news , cryptocurrency tax automation software TaxBit has raised $5 million in funding.

Bitcoin 132
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Blockchain Unchained: Paxos CEO Sees Expanded Role For Token-Based Digital Assets

PYMNTS

Although blockchain technology and Bitcoin, its best-known inhabitant, have been around for 10 years, the world is just now entering a seismic transition from holding account-based assets to a system that uses token-based digital assets. This is a really seismic shift.”. We've gone from [trade + 5 days to settle, to trade + 2 days].

article thumbnail

Bitcoin Daily: Tencent Plans To Launch Digital Blockchain Bank; HMRC Does Not Consider Crypto As Currency

PYMNTS

Tencent has announced that it will launch a blockchain-based virtual bank. The company’s blockchain chief Yige Cai revealed last week that the Hong Kong Securities and Futures Commission (SFC) has approved a new license, and that the company is setting up a team to support the platform.

article thumbnail

The Blockchain Wave Isn’t Always Smooth Sailing

PYMNTS

Just like the volatility of bitcoin, the world of blockchain is no stable place. In this week’s Blockchain Tracker , PYMNTS looks at the ups, downs and incoming regulatory efforts surrounding DLT. In this week’s Blockchain Tracker , PYMNTS looks at the ups, downs and incoming regulatory efforts surrounding DLT. Blockchain Ups.

article thumbnail

Bitcoin And The Bitter Tax Bite

PYMNTS

And lest you think changes in tax policy sow confusion only in the United States, think again. Bitcoin breeched a key psychological barrier on news that the South Korean government would tax income earned by virtual currency exchanges to the tune of 24.2 This past week saw a wild ride. For someone in the U.S.,

Bitcoin 123
article thumbnail

Bitcoin Daily: Investors Reimbursed For $2M Hacker Losses By IOTA Exec; Australia To Focus On Crypto Holders For Audits; France Wants Testing Ground For EU Security Tokens; ICOBox Fined $16M For Selling Unlicensed Securities

PYMNTS

Meanwhile, as the tax authority in Australia puts digital currency traders in its sights, many people in the country will get a warning in the following weeks from the Australian Taxation Office (ATO), news.com.au Digital currencies, for their part, are seen as a property type and an asset when it comes to capital gains tax.

Security 130