Despite Security Concerns, Vast Majority Of Businesses Interested In Cryptocurrency (Bitcoinist.com)
Despite concerns over volatility and security, research has shown that the vast majority of businesses are open to using cryptocurrency for business transactions, and that positive awareness is being raised over cybersecurity. A study by Neustar International Security Council (NISC) has revealed that 80 percent of organizations are interested in utilizing Bitcoin, Litecoin, and other cryptocurrencies for transactions. Savvy businesses are also aware of the potential gains available on the volatile cryptocurrency market, as 48 percent believe using cryptocurrency for transactions could generate income through increased value.
Arizona’s Bitcoin Tax Bill Just Got a Big Vote of Confidence (CoinDesk.com)
A committee in the Arizona House of Representatives has recommended the passage of a bill allowing state residents to pay their tax bills in bitcoin. Public records show that the House’s Ways and Means Committee advanced the measure on March 7. While the bill won’t be finalized until the full House puts it up to a vote, the endorsement raises the likelihood that it will be sent to the governor’s desk for signature – and become state law. Lawmakers first began considering the measure back in January, as CoinDesk previously reported. If approved, residents can pay “tax and any interest and penalties” using “bitcoin or other cryptocurrency.” While the specifics of this process will likely need to be fleshed out further, the measure also calls for the state’s Department of Revenue to convert the cryptocurrency to U.S. dollars within 24 hours.
Coincheck Crypto Exchange to Compensate Hack Victims (CoinDesk.com)
Japanese cryptocurrency exchange Coincheck has announced it will start compensating customers that suffered losses in its January hack starting from next week. In a press conference Thursday, Coincheck CEO Koichiro Wada and COO Yusuke Otsuka said that the platform will release more details of the compensation process in the next few days. The pair also revealed a further plan to resume trading services for some cryptocurrencies next week. As reported by CoinDesk, Coincheck first confirmed some 500 million NEM token had been stolen on Jan. 26, which at the time were worth around $530 million. Soon after the incident, the platform announced it would compensate each stolen token at a rate of $0.81 per token – an amount near $420 million.
Multi-Million Dollar Grants to Ethereum Projects Issued, Focus on Scalability (NewsBTC.com)
The Ethereum Foundation is always looking to make a positive impact. They are actively looking into supporting applications, smart contracts, and other innovative projects. Earlier this week, the Ethereum Foundation announced their first grants to help bolster this ecosystem. The Ethereum Foundation Grants: With a grant issued by the foundation, developers can keep working on their projects. There is a lot of research and development that goes into every single project. Empowering these innovative developers in any way possible is what the Ethereum Foundation aims to achieve first and foremost. Collaboration is critical in the way of blockchain technology and any feature derived from it.
Bahrain Steps Up Cryptocurrency Push (TheHinduBusinessLine.com)
The island nation of Bahrain may soon emerge as a global cryptocurrency exchange hub with the government enabling a ‘regulatory sandbox’ for the same. Khalid Saad, Chief Executive Officer of Bahrain Fintech Bay told BusinessLine, “As long as the business qualifies as a fintech (financial technology), we will welcome it. The focus is on developing the culture of entrepreneurship in Bahrain.” “The decision to regulate, monetise or legitimise it as a legal tender will be subject to a decision of the regulator, that is the Central Bank of Bahrain.”
