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Bitcoin Daily: H&M Pilots Blockchain Tech, Australian Tax Scammers Turn To Bitcoin

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Arket , a brand of H&M , is piloting a blockchain product integration with the help of VeChain, TheNextWeb reported. A spokesperson told TNW , “Arket has done a small Proof of Concept (POC) through a pilot testing with VeChain to use blockchain technology to secure product data traceability in the value chain.”

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Bitcoin Daily: S. Korea Eyes Crypto Capital Gains Tax; Crypto Lawyers See Rise In Demand

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South Korean crypto users might soon see 20 percent taxes on their currency, according to Cointelgraph. ” But Sung Tae-yoon , an economist with Yonsei University, warned that taxing cryptocurrencies could slow the country’s tech markets. Abra, which works by letting users bet on price movements of listed U.S.

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Crypto Fails To Impress For Corporate Tax Payments

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to allow businesses to pay their corporate taxes in bitcoin. “We really want to roll out the red carpet, and welcome all sorts of blockchain companies to Ohio — not just in the cryptocurrency space, but in a variety of different use cases,” he said. . However, the adoption curve is undoubtedly driven by consumers.

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

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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.

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Bitcoin Daily: China Construction Bank Grows Blockchain Platform; IRS Tax Forms Now Ask About Crypto

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China Construction Bank ’s vice president has revealed that the bank has added new abilities to its trade finance blockchain platform, including cross-chain and inter-bank transactions. The project will work to build a digital end-to-end trade finance and supply chain finance solution on a blockchain platform. “We

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

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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.

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

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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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