Canadian Federal Tax Agency Targets Bitcoin Investors

The Canada Revenue Agency (CRA) has apparently been specifically targeting bitcoin and crypto investors as part of its broader tax strategy to keep tabs on their cryptocurrency investments, including how they purchase these assets. Forbes reported on this story in early March, detailing some of the tactics of the CRA, which include audits and questionnaires. In addition to subjecting cryptocurrency investors to audits, many of these same users have also been sent “comprehensive questionnaires to fill out regarding their bitcoin-related activity over the past years.” Reportedly, some sixty audits are…

Decentralized Exchange Hodl Hodl Is Launching a Bitcoin-Based Prediction Market

Hodl Hodl, a peer-to-peer cryptocurrency exchange, has announced that it is launching a prediction market on Bitcoin. Slated for launch in the spring of 2019, it would be the first Bitcoin-based prediction market to go live on Bitcoin’s mainnet. A prediction market is a novel application of blockchain technology. The betting platforms allow users to secure odds, futures and outcomes with smart contracts. Two users place funds (traditionally, ether) into a smart contract to bet on futures for any given outcome; when the outcome arrives, the smart contract automatically pays…

Revolut Launches Auto-Exchange Feature for Select Crypto and Fiat Currencies

Revolut, a mobile finance and payment application based in the U.K., has launched a service that makes it possible for its clients to “auto-exchange” fiat and digital currencies on its platform. The new feature is intended to make it possible for users to protect themselves against volatilities in the crypto market. Per a company blog post, Revolut users can automatically exchange “fiat currencies, such as the US dollar (USD) to ether (ETH) or bitcoin (BTC), to XRP,” and vice versa, based on a predetermined target rate. Customers can set it…

Bitcoin Price Analysis: New High Paves Potential Reversal Setup

After days and days of consolidation, bitcoin finally managed to break a new high for the first time in almost two weeks. This new high, so far, has been short lived, however, as it was almost immediately sold into by eager bears: Figure 1: BTC-USD, 4-Hour Candles, New High Our current 4-hour candle is seeing a relatively easy retracement after days and days of an upward grind. We managed to close a new high, but it was quickly rejected and, depending on where the currently daily closes, could lead to…

NEM Foundation Releases Restructuring Plan Amid Financial Difficulties

The NEM Foundation has released its plan for a financial and organizational restructuring on March 8. The plan comes in the wake of news earlier this year that the foundation was running low on its native XEM tokens. On Feb. 20, the foundation decided to release 210 million XEM tokens ($8.7 million) from reserves, the first 25 million ($1.04 million) of which will be used “to set up processes and structures for a new product-focused, revenue-driven approach for NEM Foundation.” The new tokens will purportedly fund the NEM Foundation’s efforts…

US Leads in Blockchain-Related Job Offerings Globally: Report

The United States is the world’s leader in blockchain-related jobs, according to a research by The NextWeb (TNW) published on March 8. To prepare the report, TNW gathered information from job and recruiting site Glassdoor, finding all the job offerings that had the term “blockchain” in the job listing in countries around the world. The results reportedly showed that the U.S. is leading the world in terms of blockchain-related jobs, having about half, or 2,616, of a total of 5,711 blockchain jobs listed on Glassdoor globally. The U.S. is followed…

German Financial Regulator Issues Paper on Blockchain Securities Regulation

The German Federal Ministry of Finance has published a key issues paper on the treatment and regulation of blockchain-based securities, according to a ministry announcement on March 8. In the paper initially released on March 7, the regulator discusses the introduction of regulations for electronic securities and the issuance of crypto tokens. The document stipulates that the regulation of electronic securities should be technology-neutral, which means that they could be based on blockchain, or distributed ledger technology (DLT). The issuance of crypto tokens purportedly will not be subject to existing…