The Need to Modernize with the Cloud will “Supercharge the Competitive Advantage” of Innovative Banks over Slower Rivals, Fintech Professional Explains by Omar Faridi

Bitcoins Used to Pay for Products are Taxable Income, Wages Paid in Virtual Currency are Subject to Witholding, Turbo Tax Explains

Gary Guthrie from ConsumerAffairs notes that the July 15, 2020 tax-filing deadline for US taxpayers is approaching, and the Internal Revenue Service (IRS) plans to ensure that US residents have the appropriate tools and services to assist them with filing taxes and meeting their obligations…. Read More

US Secret Service has Awarded Four-Year Contract to Coinbase to Use its Blockchain Analytics Software

San Francisco-based crypto exchange Coinbase is offering its blockchain analytics software to the US Secret Service, a federal law enforcement agency that operates under the Department of Homeland Security. The agency performs criminal investigations and aims to protect the country’s leaders and their family members…. Read More

Blockchain enabled Secondary Market Platform ASMX to Provide More Liquidity to Investors, but Launch Delayed due to Technical Issues

ASMX, a blockchain-enabled secondary market platform, has confirmed that its upcoming launch was delayed due to an unexpected technical problem that is currently being addressed. ASMX’s solution aims to provide more liquidity for investors. The platform was scheduled to go live in March of this… Read More

Over $3 Million in Bitcoin (BTC) Stolen from Crypto Exchange Cashaa Following Recent Hack

UK-based digital asset exchange Cashaa has reportedly suffered a security breach which led to  hackers allegedly stealing over 336 Bitcoins (BTC), an amount valued at just over $3.1 million at the time of writing. Cashaa confirmed that it has suspended all the cryptocurrency-related transfers on… Read More

Bitcoin’s (BTC) Correlation with Gold Weakens, but Strengthens against S&P 500 Stock Market Index in June 2020: Report

Bitcoin (BTC), the flagship cryptocurrency’s correlation with gold has weakened following the COVID-19 outbreak and resulting economic uncertainty. However, the digital asset’s correlation with the S&P 500 stock market index appears to be getting stronger, according to research report from crypto exchange Kraken. Kraken Intelligence,… Read More

Crypto Derivatives Exchange LedgerX and Options Benchmarking Specialist T3 Propose New Bitcoin (BTC) Volatility Index

LedgerX, a regulated cryptocurrency derivatives exchange, will be partnering with T3 in order to launch a new Bitcoin (BTC) volatility index. Zach Dexter, CEO at LedgerX, said that, initially, the index will just be a reference for digital asset traders. LedgerX and T3, a research-focused… Read More

Don’t Mess with Texas: Texas State Securities Board Issues C&D to Loudmines & Swiftminex Crypto Offerings

Texas State Securities Board has issued two emergency cease and desist orders against cryptocurrency investment offerings. One is for Loudmines and the other is for Swiftminex. Both entities are ostensibly based in Houston, thus the Board ironically stated there may be a problem. LoudMines is… Read More

Digital Asset Security Firm NGRAVE Raises Over $430K, Claims It’s the “Most Successful” Hardware Wallet Pre-Sales Campaign Ever

NGRAVE, a digital asset security company that claims it has developed the world’s most secure cryptocurrency hardware wallet, has issued an update in which it noted that the project now has 1,225 backers who are based in 72 different countries. The crypto-asset firm has now… Read More

China: WeiyangX Fintech Review

People’s Bank of China Digital Currency Research Institute and Didi reached a strategic cooperation to explore the application of digital currency The Digital Currency Research Institute of PBC and Didi Travel have officially reached a strategic cooperation agreement to jointly explore the innovation and application… Read More

Bitcoin Adoption: $1 Million or More in BTC now Held by Over 13,000 Cryptocurrency Addresses

There are currently more than 13,000 Bitcoin addresses that are now holding at least $1 million worth of BTC, according to Glassnode data. You would have to own around 108 BTC, at current prices, to become a US dollar millionaire (in Bitcoin). The number of… Read More

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