DAILY UPDATE CRYPTOCURRENCY NEWS #06
Daily Update Cryptocurrency News
1. During an AMA on Reddit, the Microsoft founder expressed his thoughts on the impact of anonymity in digital currencies.
2. nstead of using the cryptographically secure tokens to streamline workflows - or even talking about doing so - some of the most recognizable enterprises in blockchain have largely confined themselves to uses of blockchain as a new decentralized database, absent any digital assets.
3. However, the week has also seen some wins for crypto adoption – possibly causing the slight market gains today – as South Korean capital Seoul has announced plans to launch its own cryptocurrency and thus create a friendlier environment for crypto and Blockchain innovation.
4. Many people are spoiled when it comes to the Bitcoin price. Last year was extremely bullish and borderline ridiculous. With a meteoric rise in value from under $1,000 to nearly $20,000. It became evident the “bubble” was quite real. Even so, the hype has calmed down as of right now, or so it would seem.
5. It is necessary to know that if people are educated on how modern finance works, they won’t be taken advantage of. The central bank of any country is blindly trusted by its citizens. Financial companies work for their personal interests alone; hence, they care more about the benefits that they derive more than the people.
6. Although Cambodia has not explicitly outlawed the possession cryptocurrencies, Cambodia’s government announced the prohibition of “all banks and microfinance institutions from trading, buying, selling and advertising cryptocurrencies,” in December 2017.
7. Tech support fraud, which can occur through the telephone, search engines, pop-ups, locked screens, and phishing emails, is now also being perpetrated through the new targets of virtual currency exchanges, according to the FBI’s PSA.
8. Dan Larimer, founder of the upcoming EOS blockchain, has been embroiled in an active (yet largely polite) battle of words with Ethereum leader Vitalik Buterin over some key differences in their ideologies. Larimer wrote a response piece to an essay written by Buterin, where Buterin makes the argument that delegated proof-of-stake boils down to plutocracy. In simple terms, Buterin is saying EOS may end up being “government by the wealthy” and at risk of vote buying. Larimer, however, disagrees. Read on as we go over what these two cryptocurrency titans have to say about the future of governance on the blockchain.
9. Apisak Tantivorawong reported during a March 27 cabinet meeting that crypto trades will be taxed with a 7 percent value added tax (VAT), and returns taxed with a 15 percent capital gains tax. The first draft of the digital asset regulations, released March 14, showed that the expected tax ceiling for the digital gains crypto tax in Thailand was 15 percent.
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