💰 - 2/21/2018 Daily Bitcoin & Cryptocurrency News and My Unbiased Commentary

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How Crypto Traders Help Increase State Tax Revenue in South Korea
Bitcoin Exchange Bitfinex Opens ING Account After Losing Wells Fargo
PayPal Exec Says ‘Very High Likelihood’ Bitcoin Will Become Popular Payment Method
Finland: Authorities Unsure How To Store 2,000 Seized Bitcoins After Treasury Guidelines
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☑ How Crypto Traders Help Increase State Tax Revenue in South Korea

TLDR; Now that figures are available for 2017, it appears South Korea’s moderate regulatory stance on cryptocurrencies is paying dividends, at least to government. Some 30 of the country’s cryptocurrency exchanges generated a combined USD 648 million in taxable revenue in 2017, Yonhap News Agency reported, citing politician Park Kwang-on.

The Upbit exchange appears first in line to lose a chunk of revenue, as it boasted a 52.9% market share, with Bithumb and Coinone ranking second and third respectively during 2017. Korbit was fourth, and is also facing a hefty tax bill.

Comment: No wonder S.Korea was so welcoming to Bitcoin now

Read more & Source: https://cryptonews.com/news/how-crypto-traders-help-increase-state-tax-revenue-1247.htm

☑ Bitcoin Exchange Bitfinex Opens ING Account After Losing Wells Fargo
TLDR; Bitfinex, a large cryptocurrency exchange which has been under the U.S. Commodity Futures Trading Commission (CFTC) scrutiny, has opened an ING account after having lost its Wells Fargo relationship last year, according to Bloomberg News.
Comment: Yeah lets give it some time while it gets investigated – on the flipside Wells Fargo was a very shady place that has been on the news numerous times for illegal activities.

Read more & Source: https://www.ccn.com/lithuanias-central-bank-investigates-100-million-euro-bankera-ico/

☑ PayPal Exec Says ‘Very High Likelihood’ Bitcoin Will Become Popular Payment Method

TLDR; PayPal’s chief financial officer, John Rainey, spoke positively of Bitcoin’s (BTC) use as a future popular option for payments during an interview with The Wall Street Journal (WSJ) published Monday, Feb. 19.

In a section of the interview entitled, “Тhe crypto factor,” Rainey said that PayPal was one of the first companies to accept Bitcoin on their Braintree platform back in 2015.

Comment: I really do hope that BTC becomes one of the main payment system but why paypal? It’s going to take forever for transaction 

Read more & Source: https://cointelegraph.com/news/paypal-exec-says-very-high-likelihood-bitcoin-will-become-popular-payment-method

☑ Finland: Authorities Unsure How To Store 2,000 Seized Bitcoins After Treasury Guidelines

TLDR; Authorities in Finland are trying to devise a means to store 2,000 bitcoins confiscated in 2016, following new guidelines from the Treasury published Tuesday, Feb. 20, Bloomberg reported.
According to Bloomberg, citing the Treasury guidelines, the authorities are prohibited from storing the Bitcoin stash, worth roughly $22.8 mln today, on virtual currency exchanges or services, instead requiring that they be stored offline, in a cold storage. Finnish authorities have declined to comment on how they’ve been storing the seized Bitcoin up to this point.

Comment: Well, one way they can try to get rid of these BTC could be to hold auctions and people can start bidding for them! Or they can start wiring it to my wallet 

Read more & Source: https://cointelegraph.com/news/finland-authorities-unsure-how-to-store-2000-seized-bitcoins-after-treasury-guidelines

Hi I’m Jason, and I’m @angrycrypto
And thanks for reading!

Woff, woff!

Hello @angrycrypto, Nice to meet you!

I'm a guide dog living in KR community. I can see that you want to contribute to KR community and communicate with other Korean Steemians. I really appreciate it and I'd be more than happy to help.

KR tag is used mainly by Koreans, but we give warm welcome to anyone who wish to use it. I'm here to give you some advice so that your post can be viewed by many more Koreans. I'm a guide dog after all and that's what I do!

Tips:

If you're not comfortable to write in Korean, I highly recommend you write your post in English rather than using Google Translate.
Unfortunately, Google Translate is terrible at translating English into Korean. You may think you wrote in perfect Korean, but what KR Steemians read is gibberish. Sorry, even Koreans can't understand your post written in Google-Translated Korean.
So, here's what might happen afterward. Your Google-Translated post might be mistaken as a spam so that whales could downvote your post. Yikes! I hope that wouldn't happen to you.
If your post is not relevant to Korea, not even vaguely, but you still use KR tag, Whales could think it as a spam and downvote your post. Double yikes!
If your post is somebody else's work(that is, plagiarism), then you'll definitely get downvotes.
If you keep abusing tags, you may be considered as a spammer. It may result to put you into the blacklist. Oops!

I sincerely hope that you enjoy Steemit without getting downvotes. Because Steemit is a wonderful place. See? Korean Steemians are kind enough to raise a guide dog(that's me) to help you!

Woff, woff! 🐶