Bitcoin 

3 Reasons Bitcoin Is Turning Into a Global Safe Haven for Investors

China’s recent currency devaluation seems in line with similar policies taking place across the globe. Let’s take a look why Bitcoin price is rising as a result and why investors are increasingly considering taking shelter in Bitcoin — a neutral and borderless network for storing and transferring value — alongside traditional safe haven assets. Every fiat currency is devaluing itself on purpose  As the U.S. and other countries attempt to bolster economic growth through rate cuts, investors are beginning to flock to gold, cash, government bonds and increasingly Bitcoin as…

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Bitcoin 

Israeli BTC Investors Can’t Pay Taxes as Banks Refuse Deposit

Israeli Bitcoin (BTC) investors are unable to pay their taxes as banks do not accept deposits obtained from cryptocurrencies. Israeli banks freeze up the minute they hear “Bitcoin” Israeli newspaper Haaretz reports on Aug. 6 that local crypto investors are unable to deposit the returns of their Bitcoin investments into bank accounts due to money laundering and terrorist financing concerns. Bitcoin is not recognized as a currency in Israel and earnings made by trading them are subject to a 25% capital gains tax for individuals and a 47% corporate tax…

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Bitcoin 

Kraken Exchange Acquires Service Provider for Institutional Investors

Cryptocurrency exchange Kraken has acquired Interchange, an accounting and portfolio reconciliation service provider for institutional cryptocurrency investors. A press release published on July 31 outlines that the acquisition supports Kraken’s creation of an end-to-end crypto trading and reconciliation platform.  An arsenal of tools for institutional clients As the release outlines, Interchange’s co-founders and crypto veterans Dan Held and Clark Moody have evolved Interchange to serve cryptocurrency hedge funds, asset managers and fund administrators, providing them with specialized tools to monitor and report their crypto holdings and optimize their portfolios. The…

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Cryptocurrency 

Facebook Warns Investors That Libra Stablecoin May Never Launch

Facebook has warned its investors that its Libra stablecoin may never be released, CNBC reports on July 29. Engaging with regulator “critical to Libra’s success” Facebook told its investors in its latest quarterly report that — while the firm expects to launch Libra next year — some factors could prevent its release. Iin the risk factors section of the document, the company admits that it recognizes the significance of the pushback shown by regulators towards Libra.  CNBC also reported that a Facebook spokesperson told the outlet on Monday that: “Engaging…

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Bitcoin 

83% of US Investors Would Dip Their Toes Into Bitcoin: New Report

A new study found that 83% of American investors would consider a preliminary investment in Bitcoin, as the asset gains traction among an ever more mainstream audience. ‘Me and you and everyone we know’ According to the 2019 Investor Study published by digital asset management fund Grayscale Investments this month, the demographics, attitudes, and beliefs of Bitcoin (BTC) investors overlap considerably with those of the traditional investor.  Demographics of Bitcoin and “average” investors. Source: Grayscale Investments While Bitcoin investors may be slightly more experienced and risk-tolerant than the so-called average…

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Bitcoin 

White Paper Writers Can Earn $50K, But Say Startups Often Mislead Investors

White paper writers are earning up to $50,000 per job, according to a Decrypt investigation published on April 22— but the freelancers involved have accused some startups of misleading investors. The writers told the website as part of its two-week investigation that completing a paper can take up to eight months and cost between $1,000 and $50,000, with most of the work found via platforms such as LinkedIn and Upwork. Many of those interviewed alleged they were “constantly required to fabricate and exaggerate facts.” Adefemi Yusuff Adegoke, one white paper writer, noted that…

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Ethereum 

Kenya’s Banks Unveil PesaLink to Compete with Investors’ Favourite BitPesa

Kenya Bankers Association, hereinafter KBA, has unveiled a new transfer product aiming to bypass the country’s ubiquitous use of the M-Pesa mobile service. Dubbed PesaLink, it gives bank customers the ability to transfer money between banks in real time without the need of third parties, where M-Pesa is undoubtedly the major contender. “PesaLink is the proof that the banking industry has embraced the technology revolution sweeping across the payment industry,” local news resource The Standard quotes KBA CEO Habil Olaka as saying. M-Pesa has traditionally been extremely popular in Kenya,…

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