Image of the day, 31 of July: CNBC, Washington Post, Business Insider and others
We're presenting "the image of the day". Bitnewstoday.com chose only the freshest and most important news about the digital economy and virtual currencies. Only the most valuable stories from only the proof sources. Each and every event from this list will change the world of the digital economy either way. The most important of today's stories in most indicative quotes below!
1. TAX COLLECTOR’S GREED (Forbes)
Australia's Tax Office Sees The Value in Crypto.
One area that still seems like subject to a degree of ambiguity is the tax treatment of cryptocurrency earnings. Given the sizeable profits realized by some early investors, regulatory bodies have been required to adapt their policies quickly.
New policies overall clearly show the government's recognition of the potential growth and rising importance of cryptocurrencies. They signal Australia's intent to be at the forefront of understanding this burgeoning industry.
2. BITCOIN’S NOT DEAD (CNBC)
The demise of bitcoin has been greatly exaggerated.
Bitcoin defies traditional currency and economic models, so it’s ironic that these models are being used to support predictions of its ultimate demise. This makes as much sense as it would have at the turn of the 20th century to use the concept of the horse-drawn carriage to assess the first automobiles.
Bitcoin is a borderless digital currency that eliminates the need for a bank — a common characteristic of different cryptocurrencies that have followed it. Therefore, understanding this concept hinges on conceiving financial transactions without banks.
3. POOR VINNIK! (Washington Post)
Russia tries to get Vinnik.
A panel of senior judges in Greece has accepted a new Russian extradition request for bitcoin fraud suspect Alexander Vinnik, further complicating an international legal battle surrounding the 38-year-old computer expert.
Vinnik is a Russian former bitcoin operator and was arrested in northern Greece last year on a U.S.-issued international arrest warrant.
4. THE SOUNDS OF BLOCKCHAIN (Business Insider)
eMusic seeks to raise $70 million for blockchain.
U.S.-Israeli digital music store eMusic said on Tuesday it plans to raise $70 million to build a blockchain-based music distribution and royalty management platform to ensure artists and service providers get a fair share of revenues.
The blockchain platform will allow artists to publish and distribute music and manage rights and royalties.
5. KIM GOT HER COIN (news.bitcoin)
Media mogul was given a physical bitcoin.
During a Texas Hold’em poker tournament hosted by gazillionaire philanthropists Irving and Shelli Azoff for the cancer-related charity City of Hope most famous part of a clan - Kim Kardashian - was given a physical bitcoin by a crypto entrepreneur Matthew Roszak.
This celebrity endorsement of crypto is newsworthy because that was one of the few times when physical bitcoin was shown to a mainstream audience.
6. 3 BIGGEST HURDLES (MarketWatch)
Regulators called out 3 biggest issues in bitcoin debate.
Here are some of the main issues that have recently that made regulators pause.
Security: one pressing concern lawmakers have is security. Hacks have undermined the crypto market in the past, the most famous being the Mt. Gox. Lack of liquidity, vulnerability to manipulation:the SEC has raised concerns over the vulnerability of cryptocurrency markets to sharp price moves. Valuation: this was a raised concern of the SEC - a requirement for the ETF is day by day evaluation which is complicated by the high volatility.
7. SMART AUSTRALIA (OpenGovAsia)
The best of Ozzie land.
The Labour Government launched a suite of digital planning tools that is included in the ground-breaking Smart Planning Program. t is expected that the reforms will save the Government money, slash red tape, remove duplication and reduce conflicting policy.
It will make Victoria the most efficient and transparent state in Australia for planning, and drive investment.
8. BINANCE BUYS TRUST (Bloomberg)
Binance bought Trust Wallet, a crypto-wallet provider and decentralized-application browser.
Crypto Exchange giant bought Trust Wallet, a crypto-wallet provider and decentralized-application browser that doesn’t collect a lot of user data, Binance said in a statement, without disclosing the terms of the deal.
Trust Wallet doesn’t access user wallets or hold private keys, the codes that let investors spend their coins, Binance said. Instead, the keys are stored on user devices.
9. MR 42 (Business Wire)
Bill Clinton will be a featured speaker on Swell.
At the Swell by Ripple conference, leaders from across the world in banking and blockchain will connect to discuss the hype versus reality in an ever-evolving industry. The program invites attendees to learn from dignitaries, policy-makers and industry pioneers who will bring blockchain-based use cases to life, explore frameworks for regulation and examine the impact on society at large.
As an advocate for technology and innovation, 42nd President of the United States Bill Clinton established programs that bridged the “digital divide” and brought new technology to underserved communities around the world.