The IRS has already sent a letter of warning to cryptocurrency investors to properly claim their "digital assets" and pay the respective taxes. Now, only after a few months after the first warning, the second one is in. This time, however, the letter is received by some crypto investors whose federal tax returns do not…
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Financial markets are in turmoil. The forever feared interest rate inversion has occurred. When 10-year Treasury yields drop below those for 2-year Treasuries, it is an alarm that a recession is on the way, perhaps, within the next 12 months. This indicator is our most trusted and accurate one for predicting recessions, having been on…
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The Bears cometh, and the Bears taketh away, from not only equities across the board, but also from Bitcoin and its altcoin brethren, as fears of an impending recession overly sway investor sentiments. That large sucking noise that you hear is the globe’s financial market being drawn into a “Black Hole” of frantic selling. Stocks…
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Another day, another privacy defalcation by Facebook, so what else is new? Yes, once again Facebook is facing allegations that its staff has crossed another privacy line in the sand. San Francisco’s social media giant just cannot get out of its own way, when it comes to its two billion plus customers across the globe.…
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The Financial Conduct Authority (FCA), UK’s primary regulatory watchdog, has finally recognized Ripple’s XRP token in a similar fashion as it has for Bitcoin (BTC) and Ethereum (ETH). The latter two crypto coin systems had already been classified as being an exchange or utility token, as opposed to being deemed a security and then subject…
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It has been no secret that the development arm of the Peoples Bank of China (PBoC) has been working diligently in the background over the past five years over some form of digital currency that would be nationalized and controlled by the central bank. The status of the project has always been in question, but,…
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R3, the enterprise blockchain software firm, just announced plans to open its second European office in Dublin in 2020. The office will serve as another of R3’s tech hubs and will be primarily staffed by engineering specialists who will work closely with the existing Engineering team in London. The company has recently doubled the size…
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Limestone Network is a startup based in Singapore that aims to disrupt the urban environment in Southeast Asia by using blockchain to build smart cities. The first planned project comprises a 100-hectare land in Phnom Penh. The project is backed up by private investors and it will affect approximately around 200,000 people on a daily…
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The Dow Jones and S&P 500 stock indexes are up, and, coincidentally, Bitcoin is down over the past five days after assaulting $12,000 on several occasions. BTC has succumbed to selling pressure, presumably to fund the rise in equities across the financial street. It had held $11,400 for a space of time, but it now…
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Coinbase is clearly one of the hottest cryptocurrency exchanges out there. As the largest US crypto exchange and wallet provider, it is surprising that some of its business partners are leaving the "unicorn". One such partner that is leaving Coinbase is none other but Barclays. The bank is no longer providing its services to the…
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