Today in the news:
- The crypto markets are seeing significant losses across the board.
- The tax legislation of Poland was changed in order to no longer levy taxes on cryptocurrency.
- India will probably levy an 18 percent Goods and Services Tax (GST) on cryptocurrency trading.
- Huobi Pro launches a new Crypto Market Index.
- The South Korean exchange Korbit has dropped XMR, ZEC, DASH, REP, and STEEM.
- And more crypto news below...
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Latest Crypto News - May 23, 2018
Bitcoin Price Rewinds to $7,800 as Cryptocurrency Market Drops $27 Billion Overnight
On yesterday’s report, CCN emphasized that if the bitcoin price falls below the $8,200 resistance level once again, a reentry into the $7,000 region is inevitable. Over the past 24 hours, the bitcoin price dropped by around 4 percent from $8,300 to $7,850.
Read more: www.ccn.com
More sources about crypto prices:
- Crypto Markets Tumble: Losses As High As 10%, Bitcoin Price Dips Below $8k
- Ethereum Suddenly Falls 10%, Down to $600
Big Investors Not Scared by Bitcoin Price Drop, Cryptocurrency Inevitably Replaces Fiat
Avi Salzman, a senior editor for Barron’s magazine, released a report this week featuring big money investors and executives from the rapidly growing cryptocurrency sector who generally believe, despite the recent bitcoin price drop, cryptocurrency will inevitably replace fiat.
Read more: www.ccn.com
India May Levy 18 Percent Tax on Cryptocurrency Trading Starting July 2018
India, the world’s second-largest country by population, may soon give a glimmer of hope to cryptocurrency investors after months of propagating a negative agenda against the digital asset class.
Read more: www.ccn.com
More sources:
- India Considers Taxing Cryptocurrency at 18% As ‘Intangible Property’: Reports
- India Considers New Tax on Cryptocurrency Trades
MIT Is Testing A Smart Contract-Powered Bitcoin Lightning Network
A recently completed MIT test showcases how bitcoin might not just scale, but do so in a way where it's transactions are more expressive than today.
Read more: www.coindesk.com
South Korean Crypto Exchange Korbit Drops XMR, ZEC, DASH, REP, and STEEM
South Korean cryptocurrency exchange Korbit has announced that it will no longer support the trading of five cryptocurrencies: dash, monero, zcash, augur, and steem. This announcement came just days after hacked Japanese exchange Coincheck confirmed the delisting of privacy coins.
Read more: news.bitcoin.com
Taxes on Cryptocurrency Transactions Will Be Cancelled in Poland
The tax legislation of Poland was changed in order to no longer levy taxes on cryptocurrency. The decision was made by the Polish Ministry of Finance due to the fact that, in their opinion, the tax laws are simply not applicable and irrational in this segment.
Read more: thecoinshark.net
More sources:
Zimbabwe Cryptocurrency Exchange Golix Drags Central Bank to Court over Trading Ban
Zimbabwe cryptocurrency exchange platform Golix has taken the country’s central bank, the Reserve Bank of Zimbabwe, to court, saying the bank’s ban of cryptocurrency trading was unconstitutional as there are no laws that empower it to make such legislative moves.
Read more: www.ccn.com
Huobi Pro Launches New Crypto Market Index
Cryptocurrency exchange Huobi Pro is launching a new market index for its customers, the company announced Wednesday. The Huobi main force index will track 10 different digital assets traded against tether (USDT), a dollar-pegged cryptocurrency, on its platform in real time, according to a press release.
Read more: www.coindesk.com
More sources:
The Year Long EOS ICO to Finally End, Mainnet to Launch Next Week
The most controversial ICO is to finally finish in precisely 9 days, just a year since it begun, with an estimated 2-3 million eth having been raised.
Read more: www.trustnodes.com
Goldman Sachs-Backed Circle Invest App Launches New Feature for Market ‘Newbies’
Goldman Sachs-funded Circle Internet Financial Ltd. has launched a new feature for its crypto investment app Circle Invest that makes it easier for “newbies” to enter the market.
Read more: cointelegraph.com
More sources:
Monero's Lead Developer Is Helping Launch a Crypto Trading Protocol
Loyalty points, concert tickets and in-game items will soon appear on a new protocol built on the monero network. Called Tari, this new digital assets protocol will help support non-fungible tokens - tokens with unique properties, such as tickets with ownership information (think CryptoKitties) - said co-founder Naveen Jain.
Read more: www.coindesk.com
More sources:
Nobel Prize Economist Says That Crypto the Latest in a Pattern of Alternative Currencies
In a May 21 article entitled “The Old Allure of New Money,” the 2013 Nobel laureate of Economics Robert Shiller calls crypto the newest iteration of alternative currency ideas.
Read more: cointelegraph.com
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