Portugal Could Be a Tax Haven — Not Only for Crypto Traders

The Portugal Tax Authority (PTA) announced last month that cryptocurrency trading and payments in crypto would not be subject to value-added tax (VAT). According to the announcement, cryptocurrency payments that are subject to the provision of services under Article 9 (27) (d) of Portuguese tax law are exempt from VAT. This applies only to individuals, […]

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Major consulting firms are emerging as biggest promoters of blockchain tech

With so many industries due to be transformed by decentralized ledger technology, it is little wonder that many institutions are seeking guidance as they begin to enter and navigate the blockchain space. The response has been a rapid move by major consulting firms to provide necessary expertise. These companies have long played a role in […]

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Cryptocurrency Exchange Seed CX Cuts Trading Fees to Gain Market Share

Institution-oriented cryptocurrency exchange Seed CX has cut its trading fees to what it claims to be the most competitive levels globally. Competition heats up in crypto trading space On Sept 16, the Chicago-based crypto exchange Seed CX announced that it was lowering its trading fees to some of the lowest levels in the industry. The […]

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Japanese Messaging App LINE Launches Trading Platform Bitmax

Japan’s most well-known messaging application LINE propelled its new crypto exchanging stage Bitmax, subsequent to getting a cryptographic money business permit from the nation’s Financial Services Agency (FSA). Bitmax will first offer crypto exchanging sets with Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Litecoin (LTC), and Ripple’s XRP, according to a public statement. Bitmax can […]

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Ripple Avoids XRP Question as It Moves to Dismiss Securities Lawsuit

Blockchain network Ripple has filed a controversial motion to dismiss a lawsuit over it allegedly selling unregistered securities. Ripple: Securities ruling beyond scope of the court In a court filing uploaded by Fortune on Sept. 20, lawyers representing the company against investor Bradley Sostack dismissed the claims against it. Part of an ongoing legal battle, […]

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Bitcoin Cash Learns Block Size Economics, Ver Says BCH Not Restricted

Those who have followed the Bitcoin saga from the very beginning know that it’s a mistake in 2019 to only pay attention to the so-called “grandfather cryptocurrency,” as that would mean ignoring Bitcoin’s many relatives (and competitors) that share the same DNA. Bitcoin Cash (BCH), when it comes down to brass tacks, is similar to Bitcoin in […]

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SEC Charges Token Sale Platform For Illegal $14M Securities Offering

The United States Securities and Exchange Commission (SEC) has sued ICOBox and its founder Nikolay Evdokimov for conducting an illegal securities offering and for acting as unregistered brokers. SEC says ICOBox’s digital tokens are worthless In a press release on Sept. 18, the SEC claimed that ICOBox and Evdokimov sold the firm’s ICO tokens to […]

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IBM and Citibank Join Singapore Late-Stage Blockchain Accelerator

IBM, Citibank and video game giant Ubisoft have signed up to Singapore-based blockchain accelerator Tribe Accelerator. Corporations mingle with blockchain startups Local news outlet TheStraitsTimes reported on Sept. 18 that the companies above joined as corporate partners Tribe accelerator for the second edition of its four-month program. Per the report, Tribe helps blockchain startups in […]

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Cryptocurrency Exchange OKEx Korea Delists Privacy Coins

The exchange support for the five coins will end on Oct. 10, while withdrawal administrations will stop on Dec. 10, OKEx Korea declared Monday. The trade said the choice has been taken as these coins “damage” the Financial Action Task Force (FATF’s) “travel rule.” In June, the FATF, the worldwide illegal tax avoidance guard dog, […]

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IRS Proposes to Backdate Tax Payments of Digital Currencies

The Internal Revenue Service (IRS) has sent communication to several market participants discussing backdated tax settlements in the digital asset trade. The IRS posted on its website that investors’ federal returns differ from the information provided by cryptocurrency exchanges. As such, the agency is seeking traders’ contribution on amended tax returns using profits from digital […]

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