London-Listed Argo Blockchain Reports 10-Fold Increase in Bitcoin Mining Revenue in 2019

Bitcoin mining form Argo Blockchain says it took 10 times more revenue in 2019 than in the previous year. In a press release posted on the London Stock Exchange website on Monday, Argo said, for its first full year of operations, it generated £8.5 million (just over $11 million) in revenue, compared with £760,000 ($985,720) in 2018. The firm listed on the main Market of the London Stock Exchange in August 2018. The figures are unaudited, with the firm expecting to file audited earnings in April. According to the announcement,…

SEC: Cash-Strapped Telegram Launched 2018 Token Sale to Pay for Servers

Telegram launched its token sale because it was “short on cash” to pay for servers, the U.S. Securities and Exchange Commission (SEC) said. The claim, made in the regulator’s latest document dump in its ongoing securities case against Telegram, shows for the first time the core of the SEC’s argument: that the token sale was a mere substitute for equity financing. At the time of the sale, Telegram framed it as financing for a next-generation blockchain that would be faster and more versatile than its predecessors. The documents released Thursday…

Block.One Will Not Launch Its Social Network on EOS

In June when Block.one, the company behind the largest initial coin offering (ICO) in history, announced its Facebook-challenging social network, Voice, it promised the blockchain would run on the EOS mainnet. Plans have changed. Voice is meant to be a new kind of social network, one with crypto built in and one that defeats bots by verifying the identity of every single account. The company went silent about Voice for months after the summer announcement but then, in December, it revealed a launch date for Voice of Feb. 14. With…

US Lawmakers Try Again on Tax Relief for Small Crypto Payments

U.S. lawmakers have resurrected a bipartisan push to exempt gains from small cryptocurrency transactions from being taxed.  On Thursday, Reps. Suzan DelBene (D-Wash.), David Schweikert (R-Ariz.),  Darren Soto (D-Fla.) and Tom Emmer (R-Minn.) introduced “The Virtual Currency Tax Fairness Act of 2020,” an amendment to IRS tax code that would exempt realized gains under $200, otherwise known as a de minimis threshold. From a practical standpoint the bill could simplify the tax burdens of day-to-day crypto users who must report even marginal capital gains under current federal law. This is…

Why ‘Crypto Dad’ Is Building the Digital Dollar Foundation

As Libra continues to spur discussions among regulators around the world, and China’s digital yuan comes ever closer to fruition, the U.S. Federal Reserve seems disinclined to look seriously at a digital dollar. Ex-CFTC Chair Chris Giancarlo – aka “Crypto Dad” – isn’t waiting around. He has teamed with Accenture to launch a new non-profit, the Digital Dollar Foundation. As crypto continues to evolve, it does so in sometimes divergent directions. Gemini announced a new insurance company designed to make big institutions more comfortable with the space. Zcash, meanwhile, released…

Coinbase-Led Crypto Ratings Council Plans Transparency Boost as New Members Join

The Crypto Ratings Council (CRC), the Coinbase-led organization hoping to create a standard for assessing whether different cryptocurrencies are securities under U.S. law, is adding new members. The group announced Thursday that eToro, Radar and OKCoin US have joined the aspiring self-regulatory group looking to streamline how exchanges assess whether a cryptocurrency is a security. The new members bolster the level of technical and legal information that the group can utilize, said Juan Saurez, a member of the Coinbase legal team working with the CRC. Saurez told CoinDesk in a…

Winklevoss-Led Gemini Exchange Now Has Its Own Insurance Company

Gemini, the crypto exchange founded by Cameron and Tyler Winklevoss, has created its own insurance company to protect clients against the potential loss of coins from its offline vaults – with a possibly record-breaking $200 million coverage limit. Announced Thursday, the new “captive” will provide insurance for customers of Gemini Custody, the crypto cold storage service of Gemini Trust Company. Typically, cold storage policies cover losses due to insider thefts and collusion, as well as the destruction of private keys by natural disasters like floods, earthquakes and so on. Cold…

Bull Breather? Bitcoin Market Turns Indecisive at Two-Month High

The bitcoin market is telling a tale of bullish exhaustion with indecisive price action following a rise to the highest point since November. The top cryptocurrency witnessed two-way business on Wednesday. Prices rose from lows near $8,550 seen during the Asian trading hours to a two-month high of $8,903, only to end the day (UTC) on a flat note at $8,808, according to CoinDesk’s Bitcoin Price Index. Essentially, bitcoin created a “doji” candle, which is widely considered a sign of indecision in the marketplace. In this case, however, the candle…

BTCPay Server Now Processing Blockstream’s Liquid Assets

Blockstream’s Liquid sidechain is now integrated with BTCPay Server, the self-hosted bitcoin payment processor. Announced Wednesday at 20:15 UTC, BTCPay customers can now transact assets issued on the federated sidechain such as liquid bitcoin (L-BTC) or tether (L-USDT), according to a Blockstream blog post. Liquid’s confidential asset tech – a privacy protocol that blinds typical blockchain transaction information – is now part of the BTCPay suite of payment options thanks to the partnership, the team writes. Instead of operating on the bitcoin network, which, according to rule of thumb, requires…

UN Warns Against Attending North Korean Crypto Conference Next Month

The United Nations is warning about the risks of attending North Korea’s cryptocurrency conference in February. Reuters reports Wednesday that going to the event would probably be a violation of international sanctions, according to a confidential report soon to be put before the U.N. Security Council. The news comes after ethereum developer Virgil Griffith was arrested and more recently indicted over attending the conference to give a talk last April. Griffith has been charged with conspiracy to violate the International Emergency Economic Powers Act. North Korea has been accused in…