India Considers Retroactive Tax On Cryptocurrency Trades

News, Regulation | May 24, 2018 By:

The government of India is reportedly considering imposing an 18 percent goods and services tax (GST) on cryptocurrency transactions.

According to Bloomberg, citing a source with direct knowledge of the matter, the Central Board of Indirect Taxes and Customs (CBIC) of India is working on a proposal to apply the GST to cryptocurrency trading as they could be classed as intangible goods.

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Norway’s Norges Bank Considers Developing Central Bank-Issued Cryptocurrency

News | May 24, 2018 By:

Norges Bank, the central bank of Norway, has published a paper that explores the possibility of developing its own digital currency.

The report, prepared by the central bank’s working group, stated that a decline in cash usage has prompted the bank to think about whether at some future date a number of new attributes that are important for ensuring an efficient and robust payment system and confidence in the monetary system will be needed.

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American Express Using Blockchain For Membership Rewards

News | May 24, 2018 By:

Financial services giant American Express (Amex) has integrated blockchain technology to its membership rewards program.

Amex is leveraging Hyperledger, an open source blockchain project under the Linux Foundation, to allow merchants to create tailored offers involving membership rewards points on their own platforms that can deepen engagement and reward customers.

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Three Things Investors Should Look Out for When Vetting an ICO

ICO News, Investing, News, Regulation | May 23, 2018 By:

Initial Coin Offerings (ICOs) are growing every day. In 2018 alone, there have been over 615 ICOs, raising an astounding $3.9 billon. While cryptocurrency still may be an unregulated space, investments in it can be quite lucrative. Because of this, there are important things every investor should look out for when vetting a potential ICO opportunity to ensure their capital is being used for the intended purpose.

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