Crypto News 

IRS: Like-Kind Tax Exemption Has Never Applied to Crypto Transactions

“The like-kind exchange tax exemption is not applicable to cryptocurrency transactions, according to the United States Internal Revenue Service (IRS)” writes Helen Partz for cointelegraph.com. An official at the IRS Office said that U.S. taxpayers have never been authorized to postpone paying tax as part of the like-kind exchange principle even before the 2017 tax overhaul, Bloomberg Tax reports Nov. 13.The news comes after the IRS issued guidelines for tax reporting regarding cryptocurrency airdrops and hard forks on Oct. 9.According to the report, Sinno worked on recent IRS cryptocurrency guidance…

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Iran Offers Bounty for Illicit Cryptocurrency Mining Operations

“Iran is increasingly regulating cryptocurrency mining, having announced the possibility of an annual register of cryptocurrency mining operations in September” writes Adrian Zmudzinski for cointelegraph.com. Iranian cryptocurrency mining regulations are not entirely negative for local operations.Recent regulations for the cryptocurrency industry in the country have been followed by a crackdown on illicit mining operations.Iranian authorities are offering a bounty to anyone who exposes unauthorized mining operations in the country, Iranian news outlet PressTV reports on Nov. 13.As Cointelegraph reported on Aug. 1, Iranian provincial police arrested an individual for smuggling…

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Bitcoin Fixes This: PayPal Cuts Payouts to Over 100,000 Pornhub Models

“In a blog post on Nov. 14, Pornhub revealed that payment processor PayPal had abruptly stopped servicing its models” writes William Suberg for cointelegraph.com. Bitcoin (BTC) is being championed as the solution to a new payment crisis affecting the adult entertainment website Pornhub.In each case, Bitcoin proponents highlight the benefit of using censorship-resistant cryptocurrency instead. Source: cointelegraph.com

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Crypto.com Launches New Exchange Eyeing Top-10 Spot Within 5 Years

“Hong Kong-based cryptocurrency platform, Crypto.com, announced the launch of its cryptocurrency exchange on Nov. 14” writes Rachel Wolfson for cointelegraph.com. Notable features of the Crypto.com Exchange include liquidity, competitive trading fees, institutional-grade custody and security, and intuitive experience through what Crypto.com says is a very easy-to-use interface.Moreover, to increase the liquidity of the CRO coin before the mainnet launch, it will be paired with all coins listed on the Crypto.com Exchange.While the Crypto.com exchange will initially support popular cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Litecoin (LTC), EOS, XLM,…

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Crypto.com Launches Cryptocurrency Exchange Supporting 9 Assets

“Hong Kong-based cryptocurrency financial ervice provider Crypto.com is announcing the launch of its cryptocurrency exchange today, November 14th” writes Rachel Mcintosh for financemagnates.com. The announcement of the new exchange, which will be accessible through Crypto.com’s web interface, trading API, and mobile app, was shared in an email with Finance Magnates.Additionally, the announcement says that users who stake CRO will have access to discounts on trading fees “up to 100%”, and that CRO staked on Crypto.com will yield 20% per annum. Source: financemagnates.com

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Travel Company Allows Customers to Book Flights With Bitcoin

“Alternative Airlines, a travel company based in the United Kingdom, has partnered with cryptocurrency service Utrust to facilitate payments with crypto” writes Joeri Cant for cointelegraph.com. The travel firm’s website allows customers to search from over 650 airlines such as Delta, United, British Airways, Virgin and Emirates, among others. Source: cointelegraph.com

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65,000 Swiss Retailers Will Soon Be Able to Accept Bitcoin

“Swiss crypto broker Bitcoin Suisse is partnering with European payment and transaction services provider Worldline to boost crypto payment acceptance in the country” writes Marie Huillet for cointelegraph.com. The new system will be available for the 65,000 Swiss merchants currently using Wordline’s nationwide payments infrastructure, dubbed SIX Payment Services. Last month, Cointelegraph published an overview of business venues currently accepting Bitcoin (BTC) as a method of payment across the globe.The firms have signed a letter of intent for a partnership to provide crypto payment services to Swiss merchants and consumers…

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Telegram Asks Court to Dismiss SEC Lawsuit Against Gram Cryptocurrency

“Encrypted messaging service Telegram has asked the New York Southern District Court to throw out accusations by United States regulators that its in-house cryptocurrency is a security” writes William Suberg for cointelegraph.com. The SEC had previously argued Telegram was engaging in the sale of unregistered securities when it sold its GRAM tokens to vetted investors.Despite the pressure, investors rejected a refund of money paid. Source: cointelegraph.com

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Tron Founder Justin Sun Admits Investment in Crypto Exchange Poloniex

“In October, Sun refuted reports suggesting that he is leading an investment group behind the acquisition of cryptocurrency exchange Poloniex” writes Adrian Zmudzinski for cointelegraph.com. Tron (TRX) founder Justin Sun admitted to being one of the investors that recently acquired cryptocurrency exchange Poloniex from financial technology firm Circle.According to cryptocurrency market analytics platform Nomics, Poloniex is the 11th biggest cryptocurrency exchange by volume, processing $19.5 million over the 24 hours at press time.The website estimates that less than 1% of all the crypto trading volume takes place on Poloniex.Sun said…

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Do Lawmakers Use AML as an Excuse to Centralize Crypto and Blockchain?

“Many of the prominent cryptocurrency exchanges are adopting further centralized methods to prepare for a more regulated future” writes Kyle White for cointelegraph.com. While blockchain technology can provide the compliance link between crypto exchanges and banks, it places a centralized power in between users’ access to the decentralized world.Further regulation will bring about cryptographic protection by sharing updated records on a continuous basis with banks, exchanges and other regulatory parties.Despite strict regulations and increased vigilance by authorities, money laundering makes up a very small subsection of the overall cryptocurrency ecosystem.The…

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