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The Hangzhou Internet Court ruled that Bitcoin should be classified as virtual property, which simply legalizes the ownership of Bitcoin in China. The development was first reported by Beijing-based magazine Caijing.
The ruling came as a resolution to a dispute between a cryptocurrency exchange and one of its users who sued for lost funds in 2013. The Court’s ruling means transferring bitcoin is legal in China but trading is still banned.
While it doesn’t ...
As the price of Bitcoin has rebounded, so has investor interest in the cryptocurrency asset class.
Recent surveys have confirmed that while not many common Joes and Jills own cryptocurrencies today, there continues to be rising demand, boding rather well for the industry’s long-term prospects.
Growing Bitcoin Demand
To many of crypto’s cynics, Bitcoin is an unwanted asset, loved by no one and poised to enter a “death spiral”. According to ... read more
This week, the various corners of the Ethereum ecosystem have been filled with a particularly lively flurry of activity.
First up, there’s MAD Stores — think “Mutually Assured Destruction.” Created by Ethereum developer Alejandro Diaz and announced on Wednesday, Turms MAD Stores is an anonymous and decentralized marketplace that leverages Ethereum smart contracts in order to avoid needing a backend server at all.
Thousands of American cryptocurrency traders are in the middle of being put on notice by the U.S. Internal Revenue Service (IRS).
On July 26th, the agency’s newsroom confirmed the tax collecting service had started a mass mailer campaign as part of a bid to educate more than 10,000 American cryptocurrency users on digital assets’ tax implications … and, in some cases, to prepare for enforcement actions.
The federal service — an arm of the ...
Abra, a top-of-the-line cryptocurrency wallet, will be taking steps to restrict Americans from accessing the entirety of its services. Abra published an update to its platform, which revealed that it will only be offering a limited service package to American users.
According to the update, U.S users will no longer be able to keep Bitcoin Gold, EOS, QTUM, Status, and OmiseGO tokens from August 29, 2019.
If these tokens aren’t converted to other compatible coins by ... read more