Top Headlines
South Korea to Support Crypto Industry Growth
The South Korean Financial Supervisory Service confirmed government support for digital currency trading, encouraging banks to facilitate transactions and dispelling rumors of potential bans. This follows recent regulations restricting anonymous trading accounts.
Israel Implements Crypto Taxation
Israel now classifies cryptocurrencies as taxable assets. Capital gains from crypto investments face 20-25% taxes, while commercial mining/trading incurs 17% VAT. Earlier proposals suggested ICO taxes triggered by funding thresholds.
Global Policies
California Advances Blockchain Legal Recognition
A new bill proposes adding blockchain signatures and smart contracts to the state’s electronic records law, addressing cross-border data ownership issues.
Lithuania Approves €100M ICO
The Bank of Lithuania greenlit Bankera’s ICO, which has already raised €80M+ for blockchain banking services.
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Australia Reports $1.2M+ Crypto Scams
Over 1,200 fraud cases involving digital currencies were reported in 2017, prompting warnings from regulators about risky investments.
Digital Currency Trends
UK Bitcoin Accessibility
28,000 UK shops now offer Bitcoin purchases via ZipZap’s cash-to-crypto network, expanded across 34 countries since 2014.
Australia Launches Blockchain Courses
RMIT University’s 8-week "Blockchain Strategy" program (AUD $1,500) combines expertise from Stone & Chalk and Accenture.
Finland’s Asset Seizure Rules
Authorities must store confiscated cryptocurrencies offline—currently holding ~2,000 BTC (~$23M).
Investor Perspectives
- Tim Draper: Predicts Bitcoin surpassing fiat currencies, citing its $86T market potential.
- Coindesk Analysis: Cautious optimism post-84% rebound; long-term bottom unconfirmed.
- Bank of England: Criticizes Bitcoin’s volatility but acknowledges blockchain utility.
Blockchain Applications
Russia Tests Blockchain Payments
VEB Bank pilots a payment system with Kaliningrad, expanding its 2017 blockchain research initiatives.
FAQs
Q: How does Israel tax crypto?
A: 20-25% on capital gains; 17% VAT for business-related activities like mining.
Q: What’s California’s blockchain bill about?
A: Legitimizes smart contracts and blockchain signatures in electronic records.
Q: Where can I buy Bitcoin offline?
A: ZipZap enables cash purchases at 28,000 UK locations.
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