Bitcoin’s value has fallen back to the psychologically-important $10,000 level. group action fees have remained remarkably low in the week, with multiple reports of one satoshi per K transactions being confirmed at intervals some blocks. throughout in the week Coinbase and Bitfinex also will be desegregation SegWit – a technological upgrade to the Bitcoin protocol that reduces group action fees even a lot of.
Bank of America admitted in an exceedingly report back to the SEC that cryptocurrency represents a competitive threat. BofA, presently the second biggest United States bank, has barred its purchasers from getting crypto with its credit cards. Citigroup and JP Morgan have additionally prohibited mastercard usage for crypto purchases. If major banks square measure troubled, Bitcoin should be doing one thing right.
The Israeli Tax Authority ruled that Bitcoin are classified as Associate in Nursing quality instead of as a currency. this suggests that capital gains tax of twenty fifth can apply to crypto profits created by people and up to forty seventh tax are obligatory on crypto profits created by businesses. Businesses that sell crypto also will be accountable for a 17 November VAT charge. These serious taxes can possible slow cryptocurrency adoption and development within the country.
Venezuela’s President Maduro announced that the country can settle for all cryptocurrencies, together with Venezuela’s own “petro” coin, for trade and government services. This makes Venezuela the primary country to acknowledge cryptocurrency as legal tender;
That’s what happened in the week in Bitcoin. See you next week.
From Bitcoin News outline - in the week in Bitcoin February twenty six, 2018
https://99bitcoins.com/bitcoin-news-summary-feb-26-2018/?gclid=CjwKCAiA24PVBRBvEiwAyBxf-cbsFUP4aSHEdy76WqrxerFg99EGFyBOI-1jBBlR0cW4AHWkFSRr1RoCvT0QAvD_BwE