Author: CoinSpectator

The Spanish taxman wants your crypto trading data

Spain’s tax regulator, commonly known as Agencia Tributaria or the Agency for Tax Administration (AEAT), has issued 60 formal requests to cryptocurrency entities seeking private customer data, such as identification documents, account ownership, trades and other information.

Cryptocurrency cash machine operators, exchanges and payment gateways were some of the companies that received the request earlier this week.

The information is apparently being used as part of an investigation across the crypto industry to decide whether new control procedures are required.

Furthermore, AEAT obtained data from the National Fraud Investigation Office (ONIF) on the whereabouts of offshore bank accounts held by 16 cryptocurrency exchanges registered in Spain.

It is not yet known if AEAT is seeking this information to clamp down on people not declaring capital gains from the buying and selling of cryptocurrencies. According to Tom Lee, the head of research at Fundstrat Global Advisor, US taxpayers accrued $92 billion in taxable gains from cryptocurrencies in 2017.

Financial Conduct Authority Issues Crypto Derivatives warning

FCA LOGOThe UK’s financial regulatory body issued a statement on Friday aimed at businesses providing “derivatives” and similar services to the public.

The FCA said that it does not consider cryptocurrencies to be a commodity or traditional currency from a regulatory standpoint as currently no legal framework exists, but they believe some derivatives may be considered to be financial instruments under the current legislation more specifically the Markets in Financial Instruments Directive II (MIFID II) and therefore businesses must seek authorisation or clarification from them as soon as possible.

Any operation, dealing, arranging or advising of derivatives that reference either cryptocurrencies or tokens issued through an initial coin offering (ICO) will require authorisation by the FCA, this also includes options and CFDs.

“It is firms’ responsibility to ensure that they have the appropriate authorisation and permission to carry on regulated activity. If your firm is not authorised by the FCA and is offering products or services requiring authorisation it is a criminal offence. Authorised firms offering these products without the appropriate permission may be subject to enforcement action.” said the FCA

The FCA is carefully monitoring the crypto industry as it grows, they released a statement last December warning that CFDs were extremely high risk and speculative products and that consumers should be fully aware of the price volatility, leverage ratios, higher charges in comparison, funding costs and transparency.

Survey reveals that one-in-four millennials would rather invest in Bitcoin than stocks

If you weren’t already aware of Bitcoin’s cultural impact amongst millennials, then this latest survey from Blockchain Capital should wake you up to how this generation view the cryptocurrency.

According to the survey, one-in-four millennials would rather invest in Bitcoin than stocks and shares. The study is a clear indicator that the younger generation view cryptocurrencies as genuine investment opportunities.

To explain these figures, we have to look at the details of the survey Blockchain Capital undertook. The venture capital firm’s research found that a good percentage of those aged between the ages of 18-34 reckon Bitcoin has a bright future.

To be exact, the survey found that 27 percent of respondents would rather take $1,000 worth of Bitcoin, rather than $1,000 of traditional stocks. Meanwhile, 22 percent would take the same amount of the cryptocurrency over real estate and 30 percent would take Bitcoin over government bonds.

Other results from the survey showed that 30 percent of Americans are at least somewhat familiar with the currency. An understandably higher percentage of younger people knew about Bitcoin, than their older counterparts (42 percent of millennials opposed to 15 percent of those over 65).

Considering that only two percent of Americans have owned or own Bitcoin, it appears that there is a genuine opportunity for expansion, as there is already a huge level of recognition for the currency in society.
This was shown in the fact that 19 percent of Americans indicated that they’d buy Bitcoin in the next five years.

Millennials have certainly abandoned any skepticism associated with it, with over half (52 percent) citing Bitcoin as a positive financial innovation.

This survey was taken last year and had over 2,000 American adults taking part.

Crypto currencies aiming to revolutionize a gambling industry.

2017 was a memorable year for crypto world. Bitcoin and other cryptocurrencies seen a significant growth and wider adoption while numerous projects raised millions of dollars in capital via Initial Coin Offerings (ICO). Some call it the future of money, others say it’s a bubble. Whichever it turns out to be in the end, the recent upsurge in Bitcoin’s price and the whole crypto market suggests that it isn’t going anywhere soon…

There is no doubt that we are in times of a present-day Gold Rush and nobody wants to miss out on the extraordinary returns if products hit critical mass and investors get in early. So the question is, which sectors are likely to winners in 2018? Answer: you can ‘t go wrong with gambling. In 2013 just over 50% of all bitcoin transactions were related to gambling. Moreover, since 2014, roughly 3.7 million BTC has been wagered equating to $37 billion USD at the time of writing. The crypto gambling market size is constantly increasing but is only a tip of the iceberg compared to the global online gambling industry. One upcoming ICO is seeking to disrupt the industry by taking a new approach to gambling and offering new opportunities.

ZeroEdge.Bet is a new type of blockchain based online casino whose business model revolves around its cryptocurrency’s value growth rather than the cash flow from casino games like in traditional model. As a result, all casino games at ZeroEdge.Bet are with 0% house edge, meaning players have just as much chance of winning as the house. Casino will also offer a first ever 0% commission sports betting exchange where players can choose to bet on a multitude of different leagues and sports.

The simple feature that makes Zero Edge model work is that all betting on the platform is performed using Zero Edge Casino’s cryptocurrency named ZERO. The supply of ZERO tokens is fixed, so as demand and adoption of ZERO token grows, so does its value (Based on Metcalfe’s Law). Therefore, ZERO token does not only perform certain functions on the platform, but it also presents itself as a viable long-term investment due to its design.

On November 25th, ZeroEdge.Bet had its first official introduction during Blockchain Summit Kyiv 2017. Team was in attendance to shed a light on the current online gambling market and how blockchain and smart contracts can be utilized to create a more sociably responsible, sustainable and efficient gambling environment for both the players and gambling providers.

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‘Hybrid’ Crypto Exchange ICO Announces $5m Partnership Deal

Andromeda Group provide huge cash injection to new exchange ICO

Serial crypto investors Andromeda Group have recently announced a huge deal with promising new ICO Qurrex, paving the way for a next generation of cryptocurrency exchanges.  

Qurrex, which features aspects of both centralized and decentralized exchanges, are thought to have cashed in more than $5m USD as a result of the new partnership, which will also see Andromeda experts work on the Qurrex token sale.

Pavel Kornilov, Co-Founder of Andromeda Group, said in a statement: “We see Qurrex as a potentially strong player in the market and glad to develop our relationship. We also believe that the quality of QRX token buyers will be one of the key factors of the future success of the project.”

This deal pushes Qurrex even closer to its $55m max cap target, with the public given a last chance opportunity to get involved in the May main sale.

Thanks to its part-centralized and part-decentralized exchange solution, Qurrex could be on track to deliver the first truly next-generation exchange, offering more tokens and coins, and subsequently, effective liquidity between them.

Now, thanks to a bumper token sale, the business is on track to hit its max cap of $55m before the end of the crowd sale.

Qurrex’s next-generation platform integrates the industrial-grade centralized infrastructure of traditional stock exchanges (CEX), like NASDAQ, NYSE and LSE, with a decentralized blockchain-based network (DEX).

Andromeda, which has previously partnered with prominent crypto companies, such as IOTA, Bancor and eTorro.

This new partnership is not only a financial boost to Qurrex, but one that will also bring about guidance and cooperation across the board.

Qurrex has been designed to create a suitable gateway for professional traders in traditional financial markets to the crypto economy and to meet the challenges of the exponential growth of cryptocurrency trading.

The new platform will integrate the centralized exchange based on enterprise technology of traditional stock exchanges with decentralized network consisting of thousands of nodes of liquidity with partial exchange functions for miners, brokers, liquidity provider and other institutional players.

The Qurrex ICO continues in May, with expectations of hitting the max cap high. Interested parties can take part by visiting www.qurrex.com.

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One of Canada’s largest banks considers use of public blockchain for asset tracking

td bank canadaThese days, more and more recognised companies and organisations are looking towards blockchain technology as a way to improve how they do business.

Both large and small organisations are looking for ways to utilise blockchain, with one of Canada’s biggest banks becoming the latest to consider employing this technology in a meaningful way.

Just last week, a patent application was published which revealed TD Bank’s idea to track assets digitally through the use of a public blockchain.

The patent application detailed the banks idea to use a public distributed ledger, which would in turn help point-of-sale computers keep track of the transactions. The computers would then hold blocks of data that would include information about the assets and their value.

The file states that an advantage of this use of blockchain would be the transparent nature of the data.

It read “One advantage of block chain [sic] based ledgers is the public nature of the block chain architecture that allows anyone in the public to review the content of the ledger and verify ownership.”

The application was filed all the way back in Autumn 2016 and it’s not known whether or not the bank has pursued this plan further. Generally speaking, large bank blockchains have been used for only private or permissioned ledgers, so this represents the possibility of a monumental change.

The patent application praised the potential use of blockchain in this scenario, insisting that that a ledger such as this would be positive as it would “[minimize the] risk of falsification of ledgers.”

TD Bank’s application also suggested that this potential system doesn’t need to be judged by the speed of blockchains used by other organisations.

ZeroEdge.Bet – a revolutionary approach to gambling with 0% house edge games & single cryptocurrency

ZeroEdge Casino is a gambling platform which offers players an equal odds of winning against the house, i.e. 0% house edge casino games such as Blackjack, Video Poker, Roulette, and many more. The casino will also have a sportsbook that will act as an exchange with 0% commission bets.

The project was first presented at Blockchain Summit in Kyiv on November 25th. The team of professionals from multiple industries got together to build the first online casino which doesn’t rely on player’s losses as a primary source of revenue, but instead is based on casino’s cryptocurrency value growth. Simply put, Zero Edge Casino offers the best odds in the market with all games having a 0% house edge, including sportsbook, poker tables. The business model is based on casino’s cryptocurrency which is required in order to play these games. This naturally creates a demand for the token and with a limited supply, the value of the token increases as more people seek for it in order to play. As a result, players can earn by playing at the casino with the best odds AND by holding the token as its value increases due to rising demand and wider adoption (similarly as Bitcoin).

“While we expect our 0% house edge casino games to attract a wide range of customers, what we truly want to put in the forefront is our 0% commission sports betting which has never been seen on the market before” – said Adrian Casey Zero Edge founder and CEO. “The traditional online gambling market is rife with issues that even Bitcoin wasn’t able to solve. Players should have just as much chance of winning as the house, however currently this is not the case. This is exactly what Zero Edge is trying to solve by providing a truly fair & transparent gambling, which has a potential to disrupt the whole online gambling industry.

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New Formula of Success: EEE + BNT = Your Benefits

Elementh is now expanding frontiers of its usability, empowering users to employ the offered tokens in numerous applications. Elementh has joined the Bancor Network, making operations with its tokens more flexible and expedient. At the same time, the tokens themselves become more convertible and can bring more advantages for their holders.

Integration into the Bancor Network will provide continuous liquidity for the Elementh tokens, giving TGE participants an option to easily convert their EEE to ETH, BNT, or other tokens, following the TGE.

Bancor’s conversion scheme is based on an innovative connector method, allowing tokens to be interconnected through automatically calculated prices. Generally speaking, Bancor is a decentralized liquidity network where users can easily convert any integrated token at an automatically calculated price, without the need to match buyers and sellers, using the Bancor Wallet or any Web3 wallet wallet.

EEE will join the the Bancor Network immediately after the end of the Elementh TGE.

About Bancor

The Bancor Protocol is a standard for the creation of Smart TokensTM, cryptocurrencies with built-in convertibility directly through their smart contracts. Bancor utilizes an innovative token “connector” method to enable formulaic price calculation and continuous liquidity for all integrated tokens, without needing to match two parties in an exchange.

Smart Tokens interconnect to form token liquidity networks, allowing user-generated cryptocurrencies to thrive. To convert tokens instantly, visit the Bancor Web App or join the Bancor Telegram group for more information.

Bank Negara Malaysia issues warning against fake cryptocurrency certificate

The Central Bank of Malaysia has issued a warning to the public after a bogus university certificate sporting official stamps was found to be in circulation.

The certificate, which “certifies” that the holder has been awarded a degree as a “Certified Crypto Asset Consultant”, is stamped with both the Central Bank of Malaysia and University of Malaya logos, in what appears to be an attempt at fooling interested businesses or employers seeking an expert in such services.

“BNM does not recognise these certificate holders who use such documentation in offering consultation services. Members of the public are advised to verify the validity of any certification programme before registering” said the Central Bank of Malaysia earlier in the week.

The bank has insisted that members of the public who have been presented with such certificates should verify the authenticity before entering into a relationship.

How Zerocoin is Set to Solve the “House Always Wins” Problem?

Online gambling is as popular as ever, with hundreds of new online casinos opening their virtual doors every day on the web. However, despite their seemingly inexhaustible popularity, there is one massive drawback to online casino gaming, and it is inherently linked to the way online casinos operate.

We’ve all heard the old saying “The house always wins” and it is a saying that goes all the way back to the first brick and mortar casinos in Europe and Asia. The saying remains popular because, in its essence, it is absolutely true. “All casino games, whether they are found in traditional brick and mortar establishments or online, have one thing in common – the odds are always stacked against the player. Players might be winning for a short period of time and think that they cracked the code, but in reality they are just “running hot” and sooner or later the variance will do its job to favour the house” explained Adrian Casey CEO at ZeroEdge.Bet. He also added: “Most of the players are unaware of the mathematical principles that make beating the casino virtually impossible. Therefore, our goal at ZeroEdge.Bet will be to educate players about gambling and prevent them from falling victims to its traps.

The new Zeroedge Casino, which uses its own form of cryptocurrency called Zerocoin, aims to solve the age-old problem of the house always winning by completely doing away with the dreaded “house edge” altogether. This essentially means that, for the first time in the history of gambling, players will have a real, true and fair shot at actually winning their games at Zeroedge Casino.

How the revolutionary model works?

Zeroedge Casino is currently making massive waves throughout the online gambling industry by being the first online casino and gambling destination to launch a true 0% house edge (the advantage the casino has over the player). So how does this new revolutionary model actually work.

Unlike traditional online casinos, where they make their profit directly off the losses of their players, Zeroedge Casino actually avoids this practice altogether. Instead, Zeroedge makes its profit off the rising Zerocoin value. Zeroedge is creating a network made up of thousands of unique game providers, all using Zerocoin as their single currency. Entities will be able to design and build their unique games directly on the ZeroEdge platform. All tools and infrastructure will be provided to make this process user-friendly and increase the adoption of Zerocoin, while maximizing brand exposure. Add to that a guaranteed 0% house edge and you have a completely revolutionary concept that is guaranteed to turn the online casino industry on its head and change the way you think of online gambling forever.

How will Zerocoin price increase?

The fact that Zeroedge Casino network offers gamblers a true 0% house advantage on all of their games is the spark that will blow the online gambling industry wide open. Of course, no online gambler worth their salt would rather choose traditional online casino games (where the house has anywhere from 1%-10% advantage over the player), over Zeroedge Casino games with a provable 0% house edge.

However, in order to play at Zeroedge Casino, players will need to first buy Zerocoins. Now, as more and more players learn about the incredible 0% house edge, they will want to get their slice of the pie. This will then increase the value and the demand for Zerocoin exponentially.

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