Hey everyone, here the summary of the top news of the week brought to you by HackingCrypto -
http://www.hackingcrypto.com/1) G20 Puts Crypto Regulation on Hold – Crypto Prices Surge
https://uk.reuters.com/article/us-g20-regulations-carney/g20-watchdog-focuses-on-rules-review-holds-fire-on-cryptocurrencies-idUKKBN1GU0SF The global watchdog that drove through a welter of banking and market reforms after the financial crisis said it will pivot more toward reviewing existing rules and away from designing new ones.
The Financial Stability Board (FSB), which coordinates financial regulation for the Group of 20 Economies, also resisted calls from some G20 members to regulate cryptocurrencies like bitcoin.
2) Coinbase Releases Cryptocurrency Tax Calculator -
https://www.coindesk.com/coinbase-eases-crypto-tax-procedure-with-gainloss-calculator/Cryptocurrency startup Coinbase has launched a new gain/loss calculating tool as part of an effort to help its user base keep up with U.S. tax requirements.
In a blog post published on Tuesday, the firm explained that the calculator can be used to generate a report which outlines their capital gains (or losses) on its platform, using a first-in-first-out (FIFO) accounting method.
The tool comes with a few caveats, however, namely that it's primarily aimed at users who have bought and sold on Coinbase exclusively - and isn't recommended for those who have purchased digital assets elsewhere or participated in an initial coin offering, per the blog.
3) Coinbase gets e-money license in the UK -
https://thenextweb.com/hardfork/2018/03/05/ryan-gosling-cryptocurrency-ico/This will be welcome news for cryptocurrency fans in the U.K. and Europe. Coinbase, one of more popular and accessible cryptocurrency exchanges, has been granted an e-money license by the U.K. regulator the Financial Conduct Authority (FCA).
From a regulatory standpoint, this means that Coinbase is now able to issue e-money and provide payment services in the U.K. and will have passed additional checks in terms of things like the segregation of client funds, which means that customer fiat balances (ie when you deposit funds, such as Sterling) are separated from Coinbase’s own operational funds and kept in separate bank accounts.
4) Square to Soar on Crypto Potential, Say Bulls -
https://www.investopedia.com/news/squares-crypto-potential-makes-it-amazon-its-early-days/Shares of fintech platform Square Inc. have spiked 4.5% on Wednesday morning, trading at $54.17 on a bullish note from a team of analysts on the Street who see its heightened involvement in the cryptocurrencyspace driving the stock another 18% over 12 months.
Square CEO Jack Dorsey, who is also the CEO of Twitter Inc. saw his merchant services business surpass his social media platform in terms of market capitalization late last year, with the former up a 57% year-to-date (YTD) and a whopping 223% over the year.
5) Best Business in Crypto: Running an Exchange -
https://captainaltcoin.com/best-business-in-crypto-running-an-exchange/ The major crypto exchanges in the world are different not only in terms of deposit conditions and user numbers, but also in terms of the fees charged on trading, deposits or withdrawals. Based on the trading volume and fees, it is possible to estimate the figures.
The crypto exchanges not only provide the user with a great added value and the possibility to trade cryptocurrencies, but also profit from charging fees of course. Fees vary from exchange to exchange, so a closer look can save you a few cents.
6) Coinbase Tells Congress We Need Clarity Not More Regulators -
http://www.thecryptotea.com/index.php/2018/03/15/coinbase-tells-congress-we-need-clarity-not-more-regulators/During the March 14th US Congress hearing where cryptocurrency and ICO regulations were being discussed, Coinbase’s chief and legal risk officer Mike Lempres gave a written testimony stating increased regulations were not necessary.
The Coinbase team is no stranger to these type of hearings as they regularly meet with policymakers and have testified several times. Coinbase was founded in 2012 with a mission to create an open financial system for the world. Their user base has grown into over 20 million customers, they store more than $20 billion worth of cryptocurrencies, and have traded over $150 billion in assets.
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