#CryptoCorner: British Tax Authority Wants Exchange User Info, Global Data Protection Community Concerned Over Privacy in Libra and BlockFi Raises $18.3 Billion in Funding Round


#CryptoCorner:  British Tax Authority Wants Exchange User Info, Global Data Protection Community Concerned Over Privacy in Libra and BlockFi Raises $18.3 Billion in Funding Round



Point Roberts, WA, Delta BC August 6, 2019 -  Investorideas.com, a leader in crypto and blockchain investing news, in partnership with Fit Pay, Inc.’s  (subsidiary of NXT-ID (NASDAQ: NXTD) crypto payment tech, Flip bring you today’s edition of the Crypto Corner podcast and commentary on what’s driving the cryptocurrency market .




Subscribe to Podcast RSS feed:
https://www.investorideas.com/rss/feeds/Podcasts-Crypto.xml

August 6 Crypto Corner

Stocks discussed: (NasdaqGS:FB)

CoinDesk reports that Britain’s tax authority, Her Majesty’s Revenue & Customs (HMRC), is urging cryptocurrency exchanges to relinquish user’s names and transaction data to ensure proper tax collection. Sources told CoinDesk that the exchanges Coinbase, eToro and CEX.IO were contacted by the tax authority, though none have commented as of yet. An industry insider told the publication:

“HMRC is looking to work with exchanges when it comes to finding information on people who have been buying and selling crypto. I think they will only go back a couple of years, two or three years.”

“If they [HMRC] do only go back two or three years, I think the interesting thing here is, that the individuals who went into crypto very early on in 2012-13 will not be affected. The ones who probably made the largest gains won’t be affected, it will be the people who came in around the time crypto peaked.”

The UK’s Information Commissioner’s Office (ICO) released a joint statement on global privacy expectations of the Libra network addressed to Facebook (NasdaqGS:FB) and 28 other organizations involved in the project. Signed by a “cross section of the data protection regulation community”, the statement highlights a concern over the lack of specificity shared by Libra regarding privacy concerns:

To date, while Facebook and Calibra have made broad public statements about privacy, they have failed to specifically address the information handling practices that will be in place to secure and protect personal information.

Additionally, given the current plans for a rapid implementation of Libra and Calibra, we are surprised and concerned that this further detail is not yet available.

Reuters reports that the North Korean regime has amassed some $2 billion USD through cyberattacks on banks and crypto exchanges, which it intends to put toward weapons of mass destruction. The article is based on a confidential report from the United Nations seen by Reuters. According to the report:

The experts said they are investigating “at least 35 reported instances of DPRK actors attacking financial institutions, cryptocurrency exchanges and mining activity designed to earn foreign currency” in some 17 countries.

Crypto lending firm BlockFi has raised $18.3 million in a funding round, according to a press release today. The round was led by U.S.-based venture capital fund Valar Ventures, which was co-founded by Peter Thiel. BlockFi CEO & Founder Zac Prince, said:

"We're excited to continue development at BlockFi that will bring us closer to our vision of a world where access to wealth-building financial products and services are not limited by geography or an individual's net worth. Our talented team and strategic backers will continue to drive the crypto financial services infrastructure forward to facilitate adoption and value creation in the crypto ecosystem.”


Sam Mowers, Investorideas

Read other editions of the  Crypto Corner

Get the Crypto Corner News by email Get Crypto Corner News

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/







More info on the sector:
Investor Ideas is positioning as a  leader in blockchain and crypto content with its Bitcoin and Blockchain portals Bitcoinandblockchainstocks.com, Cryptocurrencyinvestorideas.com and Blockchaininvestorideas.com

For investors following the sector Investor Ideas has a comprehensive Bitcoin, Blockchain and Digital Currency Stocks Directory

About Investorideas.com - News that Inspires Big Investing Ideas Investorideas.com is a recognized news source publishing third party news and press releases plus we create original financial content. Learn about investing in stocks and  sector trends  from Investorideas.com with our news alerts , articles , podcasts and videos  talking about cannabis,  crypto,  technology including  AI and IoT , mining ,sports biotech, water, renewable energy and more . Investorideas.com original branded content includes the daily Crypto Corner and Podcast, Play by Play sports and stock news column, Investor Ideas #Potcasts #Cannabis News and Stocks on the Move podcast and column,  Cleantech and Climate Change Podcast and  the AI Eye Podcast and column covering developments in AI. 

The Investorideas.com podcasts are also available on iTunes,  Spotify, Tunein, Stitcher, Spreaker.com, iHeartRadio and Google Play Music.

Visit the Podcast page at Investorideas.com:

Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Disclosure: this newsletter and podcast is sponsored content by featured companies NXt-ID (NASDAQ: NXTD) on behalf of Flip. More info: http://www.investorideas.com/About/News/Clientspecifics.asp
Contact management and IR of each company directly regarding specific questions.
More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release and our other news services on the Investorideas.com newswire https://www.investorideas.com/News-Upload/ and tickertagstocknews.com
Global investors must adhere to regulations of each country. Please read Investorideas.com privacy policy: https://www.investorideas.com/About/Private_Policy.asp

Cryptocurrency Disclaimer
Investorideas.com news content is not meant to be a solicitation to buy or sell cryptocurrencies and Investorideas.com does not directly sell cryptocurrencies; but acts as a news and research resource for interested investors following the blockchain sector.

Copyright and ownership: Crypto Corner is an Investorideas.com content brand

Learn more about our news, PR and social media services at Investorideas.com

Follow us on Twitter https://twitter.com/Investorideas

Contact Investorideas.com
800-665-0411




Get more Bitcoin and Blockchain Investor ideas  – news, articles, podcasts and stock directories 




Comments