If You’ve Made Cash from Bitcoin in the UK, You Could Face a Hefty Tax Bill: What You Need to Know (Alphr.com)
As the tax deadline fast approaches in the UK, those of you brave enough to have invested in the volatile world of cryptocurrencies, including Bitcoin, could be facing a hefty bill. As much as Bitcoin, and other virtual currencies, may seem like a quick route to a fast buck, Her Majesty’s Revenue and Customs (HMRC) has warned that such gains are not out of the reaches of the taxman. Plus, given the recent volatility around Bitcoin prices, many investors may not even be aware of the tax owed on their cryptocurrencies.
Starbucks next in line to Accept Ripple XRP? (CryptoDaily.co.uk)
Ripple XRP has managed to avoid the steep declines that have been seen among many cryptocurrencies over the past few months. This has largely been due to the partnerships that it has signed with banks and other mainstream businesses, which investors believe will increase the visibility of the cryptocurrency among investors. Today, a rumour emerged that a major player in retail is ready to climb onboard. In this article, we’ll consider just what that could mean for Ripple’s value and future.
Bitcoin Bull Says Altcoins Bear Market is Over (Crypto-Lines.com)
Tom Lee, the head researcher at Fundstrat Global Advisors LLC believes the altcoin bear market is coming to an end. The savvy bitcoin bull also warns that a rally of the altcoins shouldn’t be expected just yet. According to the analysis of past behaviours, Tom believes the bear market of smaller crypto coins better known as altcoins has hit rock bottom and as much as a rally shouldn’t be expected soon, they are set to bounce back. The fundstrat measure of altcoins indicates a 75% drop in the virtual currencies in the past 64 days. This route comes after a 62-day rally that had the altcoins hit unprecedented heights. Using a review of 3 past altcoin bear markets, where the rate of selling off matched that of surges that came before them, the bitcoin bull emphasizes he has every reason to believe the current drop in the price of altcoins might have ended.
What Is Switcheo Cryptocurrency? (TheMerkle.com)
A lot of cryptocurrencies are undergoing change right now. We’ve seen a stronger focus on decentralized exchanges, which will remove the need to deal with centralized entities altogether. Switcheo Network is one of those projects which can make a rather large impact moving forward. The Concept of Switcheo: As one would expect, Switcheo was built on top of the NEO platform. This new approach to creating decentralized trading solutions will certainly attract a lot of attention from NEO enthusiasts. The purpose of this project is to manage the entire trading experience on-chain, which should provide an experience similar to centralized exchanges without the need to rely on third parties.
US Treasury Publishes 5 Tips For Blockchain Projects (CoinDesk.com)
The US Department of the Treasury has just published five tips for building blockchain projects. According to the Bureau of the Fiscal Service website, the list is based on the lessons staff learned while working on a proof of concept blockchain system for tracking physical assets, such as computers or cars, which began last autumn. After months of tinkering with distributed ledgers, the first and most important insight offered is for people to ask themselves: Is blockchain technology a good fit for this concept?
