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Bitcoin Daily: UK Tax Agency Defines Crypto As Commodities; Crypto Exchange Bittrex Sued For SIM Card Bitcoin Theft

PYMNTS

s tax authority has released cryptocurrency tax guidance for businesses, revealing that crypto assets will still be defined as commodities. That means that companies that participate in trading exchange tokens must make tax payments.

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IRS Backs Off Fortnite Gaming Currency As Reportable Income

PYMNTS

A section of the IRS website telling people that the online currency from the popular game Fortnite was subject to federal taxes has been removed as of Wednesday (Feb.12). The IRS website seemed to indicate that it would treat V-bucks like it does bitcoin and other cryptocurrencies, and looked like it could have affected millions of gamers.

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Startup Roundup: The Storm Before The Calm

PYMNTS

Emailage stopped almost twice as much potential fraud in 2017 as in the previous year. billion in potential fraud was prevented, compared to last year’s $1 billion. Jewel Paymentech has forged a capital alliance with Japan’s largest payment processor, GMO Japan, which will be leading the startup’s Series A+ funding round.

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Banks Need to Close the Personalization Gap

Gonzobanker

This may not be a unique need of Black consumers, but one in five anticipate using Bitcoin to make retail purchases in the next year or two—a higher percentage than members of other racial/ethnic groups. Qwil , for example, provides working capital for freelancers who often have trouble getting paid on time. LGBTQ+ consumers.

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On Radical Markets

Vitalik Buterin

Harberger taxes can essentially replace eminent domain ), and given that blockchains lack access to trusted human-controlled courts, these kinds of solutions may prove to be be even more ideal for blockchain-based markets than they are for “real life”. Harberger taxes. What do Posner and Weyl talk about? the highest bidder).

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2021 GonzoBanker Awards

Gonzobanker

Simultaneously the bank invested in Paladin Fraud, Trabian Technology, and Chartwell Compliance to provide compliance and risk management solutions in the complex and connected web of fintech partnerships. We aren’t talking just Bitcoin or Ethereum. ODP revenue will drop significantly if not go away completely. Enough said?

Fintech 147
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Fintech Fundings: 13 Companies Raise $900 Million Week Ending Nov 12

Fintech Labs Insights

.” According to today’s WSJ story , the money appears to be earmarked for share repurchases, meaning it’s just a transfer of $820 million to the existing common stock holders, rather than new capital sitting on the balance sheet. Bitcoin exchange. But we’ll see if they do follow that path. million this week.