#CryptoCorner: Japan’s Self-Regulatory Body Imposes Maximum on Trading Volumes, South Korean Exchanges May Lose Beneficial Tax Status, Gallup Poll Shows Only 2% of US Investors Own #Bitcoin and Gibraltar United Adopt #Crypto
#CryptoCorner: Japan’s Self-Regulatory Body Imposes Maximum on Trading
Volumes, South Korean Exchanges May Lose Beneficial Tax Status, Gallup Poll
Shows Only 2% of US Investors Own #Bitcoin and Gibraltar United Adopt #Crypto
July 30th #CryptoCorner and Podcast sponsored by Crypto
payment tech, #Flip @FlipToPay ($NXTD)
Point Roberts, WA, Delta BC – July 30, 2018 - Investorideas.com, a leader in crypto and
blockchain investing news reports on what’s driving the cryptocurrency markets
with today’s edition of Crypto Corner, now available in podcast.
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Crypto Corner For July 30th
Read this in full at http://www.investorideas.com/news/2018/crypto-corner/07301Japan-SouthKorea-US-Gibraltar.asp
Japan’s Self-Regulatory Body Imposes Maximum on Trading Volumes, South
Korean Exchanges May Lose Beneficial Tax Status, Gallup Poll Shows Only 2% of
US Investors Own Bitcoin and Gibraltar United Adopt Crypto
As we begin a new week the crypto market has
remained relatively stable over the past few days. Our last installment on
Friday saw the price of Bitcoin (BTC) dip below $8000 USD to around $7850 USD,
following the SEC’s rejection of the Winklevoss brothers’ proposed Bitcoin ETF.
The market made a comeback later that day and has been sitting above $8000 USD
since, trading at $8153 USD at press time according to CoinMarketCap. The total market cap is around $294 billion USD.
The Japan Virtual Currency Exchange Association
(JVCEA), a self-regulatory crypto body, will impose maximum trading volume
limits on its member exchanges, according to a report from Cointelegraph. Supposedly this move is being done to protect “small asset” traders
from suffering heavy losses.
CoinDesk reports that crypto exchanges in South Korea may lose access to tax
cuts currently afforded to them due to a proposed change in the country’s tax
laws. Currently crypto exchanges are classified as either startups or small and
medium enterprises (SMEs), both of which can afford them deductions of 50-100
percent of their income tax and corporate tax within their first five years in
operation. However the inclusion of crypto businesses in this category is being
criticized thusly: "cryptocurrency
transaction brokerage is not effective in generating added value."
A recently
published Gallup poll reveals that
just 2 percent of U.S. investors own Bitcoin. Additionally, only 26 percent are
intrigued by it, with the remaining 72 percent having “no interest in ever
buying bitcoin”. The data indicates that people are averse to cryptocurrencies mainly due to their riskiness.
Football
(soccer) team Gibraltar United plans to pay players in cryptocurrency,
according to a report in the Guardian. Team owner
Pablo Dana, who invests in cryptocurrency Quantocoin (QCTC) explained why
Gibraltar is ideal for the adoption of crypto:
“It was the
first [place that] regulated betting companies 20 years back, when everyone was
seeing them as horrible. They put compliance and anti-money laundering
regulations and created a platform – they have the intelligence to do the same
with cryptocurrencies.”
Sam Mowers, Investorideas
Crypto Corner Sponsors:
Flip™ is the creation of Fit Pay, Inc., a leading provider of
cutting edge payment technology and a subsidiary of NXT-ID (NASDAQ: NXTD).
By leveraging the FitPay Payment Platform™, Flip enables cryptocurrency holders
to seamlessly exchange their cryptocurrency for US dollars and store that value
on a contactless payment device that can be used to make purchases at millions
of retail locations. https://www.fliptopay.com/
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