Top 5 News For Today - 26 Feb 2018
Summary:
Second largest bank in the USA admits seeing threat in cryptocurrencies; Austria want to tax crypto-assets as gold and derivatives; Putin will not allow Russia to fall back in the new technological, crypto and blockchain era; Coinbase issues financial notes to 13000 customers after IRS won in the court; Uzbekistan may become local leader in crypto and blockchain development.
BONUS Thread of The Day
Hacker Returns 20.000 ETH to Coindash
1.Bank of America Sees Threat in Cryptocurrencies
US second largest bank sees a big threat coming from cryptocurrencies. If classical banks will be too late to adopt to the new emerging market and services, they may lose their positions to those, who implement these new technologies. It is however very costly to make these improvements. Their biggest fear, however, their inability to control all financial transactions made with cryptocurrencies. Something they are very used to with their dollar.
https://www.ccn.com/bank-of-america-admits-cryptocurrencies-are-a-threat-to-its-business-model/
2.Austria Plans to Regulate Crypto as Gold
Austria’s central bank and governmental authorities worry about cryptocurrencies becoming a money laundry heaven for criminal activities. To do something about it, a plan to classify crypto assets as gold and derivatives is being composed. Proposed legislations will also over ICOs in an attempt to eliminate market manipulations, insider trading and front-running. More and more attempts to control the crypto ecosystem are emerging from around the globe.
https://www.coindesk.com/austria-cryptocurrency-regulation-icos-gold-derivatives/
3.Putin Wants Russia to Stay Ahead of The Game
During a recent meeting with the president of Russia’s largest Sberbank, Putin, without mentioning the industry, noted that those who fail to make appropriate steps in time, will fall under dependence of those, who will make those steps on time. And Russia cannot afford this. Once mentioned on such a high level, this actually means that developments are happening right now, only behind the scenes.
4.Coinbase Sends Notice to 13000 Customers
Coinbase had a very long court relationship with IRS. Initially IRS asked for 500.000 customer information, however Coinbase fought back well and decreased this number to 13.000. Notice reminds to Coinbase users to provide all information and file a tax report for crypto assets. 21 day has been given to file up report.
https://bitcoinwarrior.net/2018/02/coinbase-sends-notice-to-13000-customers-because-of-court-orders/
5.Uzbekistan to Legalize Bitcoin
Uzbekistan, a Central Asian country, is full steam ahead on legalizing crypto currencies and promote blockchain developments in the regions. Country is a big player in energy sector in the area and currently requires approximately $1500 to mine 1 BTC, which puts it among the cheapest countries in the world for mining. Legislations will commence in mid-summer this year. Has anyone notices how Central Asian region is welcoming new technologies?
https://news.bitcoin.com/uzbekistan-legalize-bitcoin-support-developers/
BONUS Thread of The Day
Hacker returns 20.000 ETH back to Coindash he stole a year ago.
https://news.bitcoin.com/hacker-returns-20000-eth-coindash/
This is it for today.
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See you tomorrow!