Know Your Exchange: Part Three
Foreign Government Risk. In addition to trusting the digital currency exchange one might also consider the government that makes or changes the laws in the country in which the exchange operates. Governments have coordinated together and created laws commonly referred to as "Know Your Customer" or KYC. However, the citizens are left without protection....
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The world’s biggest crypto exchange by trading volume, Binance, will deactivate the accounts of its Russian users, cutting its services in Russia as part of the EU compliance, the company said on Thursday. The exchange announced that Russian nationals, people living there, and companies holding digital assets worth over 10,000 euros would be restricted from […]
Part two of a three part series. Governments have "Know Your Customer" laws a.k.a. KYC. Should Bitcoiners create "Know Your Exchange" rules as well? Many governments have issued strong-arm caution statements that strongly discourage their citizens from using digital currencies and reinforcing the point that the government does not recognize the currency as legal payment. There have been hacks, robberies, and exchanges closing up shop taking their investors' funds with them. When this happens, the victims often will go to the police but find they don't find the same protections that would....
Chinese bitcoin exchange BTCChina has a new name: BTCC. The company said the decision was part of a rebranding effort aimed at internationalizing its image. 'Bitcoin is global, and as we launch more products and services to serve the global audience, we needed a more global name,' CEO Bobby Lee said of the changes. 'BTCC is that name.' The exchange will also begin using a new logo and will release a new version of its mobile app - currently in development - as part of the rebranding.
PRESS RELEASE. UAE-based crypto exchange Aladdin opens its platform for pre-registered users. This digital asset exchange is the newest one in the cryptocurrency market. As part of its pre-launching event, the Aladdin Exchange team invites everyone to pre-register and refer people to join the crypto exchange before its official launching. By doing the pre-registration and referral, users can get instant TNC Coins! Aladdin Exchange Overview Based in the UAE, Aladdin Exchange aims to cater to cryptocurrency users and traders all over the world. The overall exchange operations are led by the....
This is the third part of a multi-part series that will discuss how to declare Bitcoin income on US personal or business income tax returns. What follows are my professional opinions and should not be construed as tax or accounting advice. Instead, the articles in this series should be used as the starting point for a discussion with your tax accountant about your personal situation. Back to Part 1- Preparing Your Records. Back to Part 2- Bitcoin As Ordinary Income. The IRS must answer two questions with regard to virtual currencies: what is their classification and when are gains or....