Last Week in Crypto – 21 January to 27 January 2019

Last Week of Cryptocurrency

Start End Change
Bitcoin: 3587.67 3732.52 +4.037439341
Ethereum: 119.05 115.03 -3.376732465
Ripple: 0.318072 0.317110 -0.3024472446

*The week started on Monday, 21 January 2018 and ended on Sunday, 27 January 2019. The above prices are as of 12 o’clock Midnight of 21 January and 27 January.

 

Monday, 21 January 2019

Russian Institutions Back Proposal to Let Companies Use Cryptocurrency

A proposal to allow companies from certain sectors and regions to use cryptocurrencies is gaining traction in Russia. The motion has been included in a draft law prepared by the Economy Ministry. High-ranking parliamentarians have voiced their support, and big businesses are discussing its implementation.

Select entities from the IT sector and the blockchain industry may be permitted to utilize digital assets in their financial transactions. The experimental regulatory regime is to be implemented in some regions of the vast country, according to a draft law put forward by the Ministry of Economic Development.

Tuesday, 22 January 2019

Romania Imposes 10% Tax on Cryptocurrency Earnings

Romania has made changes to their tax laws to start taxing profits on a user’s bitcoin investments at a rate of 10 percent. These earnings will now come under the category of “income from other sources,” and therefore subject to income tax.

Gains from transactions below 200 Romanian ron (about $50) will not be taxed. However, if the earnings cumulatively exceed 600 ron in a year, the investors will have to pay 10% income tax on the gains.

Read More: Other biggest news on 22nd Jan. 2019.

Wednesday, 23 January 2019

Privacy Cryptocurrency Beam Experiences Blockchain Stoppage

Newly-released privacy-oriented cryptocurrency Beam reported that its blockchain is experiencing technical difficulties. Beam announced the information, saying that its network “stopped at block 25709” and that it was investigating the matter.

At its January launch, Beam became the first cryptocurrency based on Mimblewimble – a protocol that makes transactions confidential and virtually untraceable. Since then, though, Beam has faced some technical issues.

Thursday, 24 January 2019

Cryptocurrency firm Robinhood wins New York trading license

New York on Thursday gave approval to Robinhood, a crypto startup to trade in seven cryptocurrencies, including bitcoin, ether, bitcoin cash and litecoin, on its online platform.

Robinhood Crypto is already available in more than 30 states, and it will allow customers to buy, sell and store cryptocurrencies in New York over the coming months. The New York State Department of Financial Services (DFS) also approved a money transmission license for Robinhood.

Friday, 25 January 2019

Nasdaq Gave its Biggest Nod to Cryptocurrency

Nasdaq led the $20 million Series B funding in capital market for Symbiont, a blockchain technology company.

Earlier, Nasdaq’s CEO Adena Friedman gave further clues to its commitment to cryptocurrency and blockchain adoption this week. It could also mean Nasdaq will create a platform to issue and trade tokenized securities.

Saturday, 26 January 2019

Iran inches closer to unveiling state-backed cryptocurrency

Iran moves closer to unveiling its first-state backed cryptocurrency finding a way around the US sanctions.

The virtual currency is anticipated to be announced at the annual two-day Electronic Banking and Payment Systems conference, which kicks off on January 29 in the capital, Tehran.

Sunday, 27 January 2019

MIT researchers’ new cryptocurrency is faster and more efficient

MIT researchers have developed a new cryptocurrency that drastically reduces the data users need to join the network and verify transactions by up to 99 percent compared to the current popular cryptocurrencies.

It incorporates techniques that delete empty accounts that take up space, and enables verifications using only the most recent transaction data that are divided and shared across the network, minimising an individual user’s data storage and processing requirements.

Last Week in Crypto: 14 Jan to 20 Jan 2019

Next Week in Crypto: 28 Jan to 3 Feb 2019

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