💸Japan's Finance Minister Balks at Changing Crypto Tax Rules
Japan's top financial official is cautious about the idea of his nation changing how it taxes gains from cryptocurrencies. At present, profits earned by investors in cryptocurrency can be taxed between 15 and 55 percent. Stock profits, which are treated more like separate declared taxes, are taxed at roughly 20 percent in the country.
🙈Facebook relaxes its ban on some cryptocurrency advertisements
Facebook today softened its stats on cryptocurrency ads by allowing a select few pre-approved advertisers to run advertisements on the network. Advertisers approved through an application process on Facebook can now promote cryptocurrency products, although ICOs and binary options are still banned.
🤖TRON Crashing As Market Cap Slips To 11th Place
The launch of the TRON mainnet and the roll out the native TRX token has somehow moved TRON in the exact opposite direction. TRON wants to be a top ten brand on the crypto markets, yet today, for the first time in quite some time, TRON has slipped out of the top ten for market capitalisation, now sitting below Tether (USDT) in 11th place
💥Apple co-founder Steve Wozniak says the hype around blockchain signals a bubble
Apple co-founder and noted bitcoin bull Steve Wozniak says the hype around blockchain is similar to what he saw in the dotcom era, with companies going belly-up at a rapid rate. “It was a bubble, and I feel that way about blockchain,” Wozniak said Tuesday on stage at the NEX technology conference in New York. A good portion of the companies promising to do life-changing things on the internet quickly went bust, Wozniak reminded the audience.
👥Florida is appointing a cryptocurrency czar
Florida's Chief Financial Officer Jimmy Patronis believes his state needs to start keeping a closer eye on cryptocurrency and Initial Coin Offerings (ICOs). That's why he created a position for a state-specific cryptocurrency czar who'll be in charge of looking at how current securities and insurance laws apply to digital currencies and ICOs. The official will also help conjure up crypto regulations for the state. In addition, all ICO and cryptocurrency companies based in Florida will now be required to register with the Office of Financial Regulation and will be under the supervision of the new czar.
💡 Hong Kong’s SFC to keep an eye on cryptocurrencies, ICOs
“We keep a close watch on cryptocurrencies and initial coin offerings, intervening where appropriate”, the SFC says in its Annual Report 2017-18. In light of significant investor interest in cryptocurrencies and the use of initial coin offerings (ICOs) to raise funds in Hong Kong, the SFC notes that it took regulatory action against a number of cryptocurrency exchanges and ICO issuers and issued two statements alerting investors to their potential risks. The regulator says it will remain vigilant in policing the market and monitor the latest developments