Crypto

Tether Partly Backed by Bitcoin, Court Transcription Reveals | Bitcoin Magazine

Tether Partly Backed by Bitcoin, Court Transcription Reveals Tether, a stablecoin tied to the dollar that is meant to mediate the volatility of other cryptocurrencies, is partly backed by bitcoin. As detailed in court documents obtained by The Block, Tether admitted to using some of the cash reserves meant to back its stablecoin to purchase bitcoin, among other assets. This ...

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Op Ed: Lightning Network Consensus Is a Marketplace and That’s Okay! | Bitcoin Magazine

Op Ed: Lightning Network Consensus Is a Marketplace and That’s Okay! To Bitcoin or Not to Bitcoin During the “scaling debate” before the SegWit2X user-activated soft fork (UASF), Bitcoin businesses were getting their first bitter taste of Bitcoin’s censorship resistance. They wanted change to be easier. They wanted their influence to be effective. They wanted to take shortcuts. Unfortunately for ...

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Dutch Man Arrested for $111 Million Fake Mining Scheme | Bitcoin Magazine

Dutch Man Arrested for $111 Million Fake Mining Scheme On March 21, 2019, Dutch news outlet NL Times reported that “Berry van M.,” a 33-year-old Dutch businessman and the operator of now-defunct trading platform Koinz Trading, has been arrested on charges of deceiving investors with a bogus bitcoin mining scheme. The report claims that van M. was the director of ...

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IRS Commissioner Makes Crypto Tax Clarity a Priority | Bitcoin Magazine

IRS Commissioner Makes Crypto Tax Clarity a Priority The U.S. Internal Revenue Service (IRS) is planning to overhaul its methods for determining the federal taxes due on cryptocurrency payments to improve clarity for taxpayers. The decision stems from the recent attempt by Minnesota Representative Tom Emmer to pass legislation reforming the way that hard forks and the resultant “forkcoins” are ...

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Bitcoin OTM in Beijing Lasted Less Than a Week Under Regulatory Pressure | Bitcoin Magazine

Bitcoin OTM in Beijing Lasted Less Than a Week Under Regulatory Pressure This article was originally published by 8btc and written by Lylian Teng. Bitcoin ATM services in China have once again proved to be hopeless, after the first Bitcoin OTM (OTC Teller Machine) in Beijing was removed shortly after its installation. As Bitcoin ATMs are gaining traction throughout the ...

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Bitcoin Businesses Push Back Against Proposed Canadian Crypto… | Bitcoin Magazine

Bitcoin Businesses Push Back Against Proposed Canadian Crypto Regulatory Framework On May 16, 2019, San Francisco-based crypto exchange Kraken posted on Twitter a summary of its response to the Canadian Securities Administrators (CSA) “Proposed Framework for Crypto-Asset Trading Platforms”: “Kraken strongly recommends against Canada imposing a security law framework on cryptocurrency exchanges in public response to the Proposed Framework for ...

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SEC Delays VanEck ETF Yet Again | Bitcoin Magazine

SEC Delays VanEck ETF Yet Again In the Bitcoin industry’s Sisyphean struggle to secure a Bitcoin exchange traded fund (ETF), the boulder is rolling back down the hill. The U.S. Securities and Exchange Commission (SEC) posted a notice today, May 20, 2019, that it is delaying its decision on the VanEck and SolidX Bitcoin ETF proposal. With this additional extension ...

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Bisq’s Lead Developer Makes Way for DAO to Take Over | Bitcoin Magazine

Bisq’s Lead Developer Makes Way for DAO to Take Over The founder of decentralized crypto exchange Bisq has stepped away from all roles and activities, allowing the exchange’s DAO (decentralized autonomous organization) to oversee its operations. Manfred Karrer released the departure announcement on Bisq’s official site on May 16, 2019, claiming that the exchange is “entering a new phase” and ...

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During Bullish April, Fiat-to-Crypto Exchanges Outperform Crypto-to-Crypto | Bitcoin Magazine

During Bullish April, Fiat-to-Crypto Exchanges Outperform Crypto-to-Crypto In its April 2019 Exchange Review, released on May 20, 2019, London-based crypto data analysis firm CryptoCompare found that fiat-to-crypto exchanges performed much better than crypto-to-crypto platforms did over the last month, as cryptocurrency prices rose across the board. According to the report, fiat-to-crypto exchanges enjoyed an impressive 85 percent uptick in monthly ...

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