These Two Cryptocurrencies Pinpoint Where Bitcoin Is Headed Next

Over the last few weeks, Zcash has been leading the corrections in Bitcoin’s price while XLM has been leading the run-ups. Key Takeaways Bitcoin shows high levels of correlation with the rest of the crypto market, but different altcoins nark different trends for BTC. Zcash (ZEC), for instance, can be used to determine intermediate tops within the market. Meanwhile, Stellar Lumens (XLM) has led the uptrend since the beginning of April suggesting that Bitcoin has more room to go up. Share this article A high correlation between Bitcoin and multiple…

If Cryptocurrencies Were Beer… | Cointelegraph

Whether crypto markets are up or down, people will still buy beer. The American beer industry has seen a 600% increase in the number of breweries between 2008 and 2016, according to data from The Atlantic. And the crypto industry really boomed from nothing in 2008 with the release of pseudonymous author Satoshi Nakamoto’s Bitcoin white paper. By 2017, thousands of new digital assets built on top of that work had found their way onto exchanges. Nowadays cryptocurrency lives somewhere in the public consciousness between a Bloomberg headline and a…

Cryptocurrencies Are Not a Safe-Haven Asset, Says Expert

Cryptocurrencies have not been used as a safe haven amid challenges the global economy has faced at the beginning of the year, one expert says. The world has already seen a slew of market-shaking events this year including trade policy uncertainty, geopolitical tensions and the coronavirus epidemic, among others. With investors around the world struggling to find safe haven assets to insure themselves against potential crises, it was anticipated that many would turn to Bitcoin (BTC) and other digital currencies. Doubts of crypto’s capabilities However, some industry experts say that…

South Korean Tax Policy Association Proposes Two-Step Tax on Cryptocurrencies

South Korean tax experts have advised the Korean government to apply a low-level trading tax on cryptocurrency profits before subjecting citizens to a transfer income tax, according to a Business Korea report. The Korean government is expected to announce its tax reform plan in late 2020.  The low-level trading tax was recommended because there is a lack of legal infrastructure to enact transfer taxation. During a seminar on Feb. 21, members of the Korean Tax Policy Association advised the South Korean government to enact this two-step plan, arguing that taking…

G20 Urges Countries to Adopt Tough FATF Rules on Cryptocurrencies

Finance ministers and central bankers from the G20 are pushing for wider adoption of standards that compel cryptocurrency exchanges to disclose user information. Following a summit in the Saudi-Arabian capital Riyadh over the weekend, representatives from G20 financial institutions pressed countries that have not done so already to align themselves with global cryptocurrency standards from the intergovernmental organization, the Financial Action Task Force (FATF). “We urge countries to implement the recently adopted Financial Action Task Force (FATF) standards on virtual assets and related providers,” reads a joint-communique published after the…