Block Network

July 21, 2020

Over 7M Americans Own BTC But Hold None In Retirement Accounts

Millions of U.S. citizens own both Bitcoin and a retirement account, but hold no Bitcoin in that retirement account. Ryan Radloff, CEO of custody solution Kingdom Trust, recently explained a vast number of Americans do not hold Bitcoin (BTC) in their retirement accounts. “There’s 7.1 million Americans that have already made the leap to buy Bitcoin […]

China Considers Implementing Blockchain Tech in Equity Trading Centers

China’s Securities Regulatory Commission allows regional equity markets to experiment with blockchain in the equity trading industry. The China Securities Regulatory Commission, or CSRC, recently issued a letter approving five regional equity markets. They will include equity centers in Beijing, Shanghai, Jiangsu, Zhejiang and Shenzhen. These and other regions received authorization to begin experimenting with […]

Bitcoiners Are Not Looking for a Store of Value, Gold Bug Adam Schiff Says

Although Bitcoin holders often describe the asset as a store of value, gold advocate Peter Schiff said such participants do not actually seek wealth storage, hunting instead for profit. A known gold enthusiast, financial commentator Peter Schiff said Bitcoin (BTC) holders are not actually looking to the asset as a storage of wealth — one […]

Kazakhstan Needs National Crypto to Fight Corruption, Says Local Official

Kazakhstan’s digital tenge has the potential to provide “full transparency in movement of budgetary funds,” chairman at local anti-corruption service says. The Chairman of Kazakhstan’s anti-corruption service has called on the government to develop a national digital currency to fight corruption in the country.Alik Shpekbayev, chairman of Anti-corruption Agency of the Republic of Kazakhstan, reportedly […]

Why Did LocalBitcoins Give Up Their Users’ Privacy?

LocalBitcoins COO Elena Tonoyan explains how the oldest peer-to-peer Bitcoin exchange is fighting against criminal activity on its platform. Elena Tonoyan, the COO at LocalBitcoins, explains how the oldest peer-to-peer Bitcoin exchange has been stepping up the fight against criminal activities on the platform.As of 2019, LocalBitcoins has been cited as the exchange receiving the […]

Sizeable Portion of Tether’s $4.5B Growth Comes From Exchange Fiat

Tether rose quickly to $9.1 billion in 2020 as supply doubled since March, but some of that is old money being repurposed into USDT. Tether (USDT) recently rose through the ranks as it replaced XRP as the third highest ranked asset by market capitalization.It now sits at a total of more than $9 billion in […]

Could Compound’s Governance Token COMP Be Deemed a Security?

Examining COMP’s ability to pass the Howey test for being qualified as investment contracts and to be considered a security. Innovation springs eternal in the digital asset ecosystem, and with Compound’s launch of its governance token, COMP, last month, the burgeoning world of decentralized finance continues to pick up steam. The broader cryptocurrency community has […]

China’s Blockchain Network Splits Over Disagreement About Public Chains

China’s Blockchain Service Network splits into two entities after the pushback from state-controlled entities on the integration of public blockchains. China’s Blockchain Service Network, or BSN, has split into two separate entities after a disagreement about the integration of public blockchains.China’s consortium was founded to promote the advance of blockchain technology in the country. Now […]

SEC Commissioner Peirce Asks ‘Who Did We Protect?’ in Telegram Shutdown

Commissioner Hester Peirce clearly doesn’t see the SEC’s courtroom win against Telegram as a victory for the regulator or innovation in the U.S. In her July 21 speech for Blockchain Week Singapore, Securities and Exchange Commissioner Hester Peirce, known among the industry as ‘CryptoMom,’ spoke out on her opposition to the SEC’s recently concluded suit […]

Crypto Tax Disclosures Can Help With Internal Revenue Service

Disclosure sounds like it exposes you to extra IRS audit risk, but if it’s done properly, disclosure can actually reduce your risk. Crypto and taxes hardly go together like cream and sugar. Yet every crypto investor or business these days faces them. For many, starting with the United States Internal Revenue Service’s launch of the […]