Vietnam bitcoin company Remitano will expand its bitcoin settlement services

Vietnam bitcoin company Remitano will expand its bitcoin settlement services

Since the birth of bitcoin, has been the settlement by incredible interference. All over the world every year settlement industry for more than $500 billion is considered the world’s most expensive commodity.

Remitano company has announced that it will in Asia to expand its business, such as Nigeria, Kenya and Tanzania. Remitano is a start-up company started in Vietnam Hu Zhiming City, and then began to use in the Seychelles, settled in Babylon to provide services solutions limited. Now, Remitano company to provide settlement services to 10 different countries including Australia, Britain, Chinese, India, Vietnam, Malaysia, the United States and Garner.

Although Vietnam indicated in the bitcoin aspect is very vague, but from the beginning, Remitano is still considering become Vietnam’s most active bitcoin exchange (Bitcoinexchange).

A notice by Vietnam initially released in February 2014, officially announced that bitcoin is not legitimate, not protected by business or consumer law. In October 2014, three bitcoin brokers were arrested, but because bitcoin for any legal control does not assume any responsibility, the judge dismissed charges. At present, Vietnam banned the possession and use of budget institutions bitcoin.

For example, Vietnam bitcoin foundation limited the implementation of the budget and there is no organization, Remitano, prosperity. Through the efforts of Remitano, bitcoin has made progress in Vietnam, and the Bit2C collaboration with Israel for a long time. Because of Vietnam’s Remitano and bitcoin to encourage the establishment of a private bitcoin business center, so the agencies have to figure out how to avoid digital currency controls work outside of vietnam.

As of now, Africa’s biggest supplier Bitmari wallet and the Reserve Bank of Zimbabwe established a general settlement permit. The competition between African settlement providers, such as Remitano and Bitmari, will add additional returns to nearby economy. Extension organizations like Remitano will further bitcoin application to typical world of daily life, which for several countries, marking the standard bitcoin may choose prospects.

HSBC survey bitcoin still has a huge potential for growth

HSBC survey bitcoin still has a huge potential for growth


“The survey shows that HSBC initiated 13 days, most of the citizens still not heard the blockchain, only 41% of respondents said that familiar to support bitcoin technology.

Bitcoin and block chain technology is still in the early stages of development

According to a recent survey by HSBC, 59% of consumers have not heard of the block chain technology. In the familiar bitcoin technology of 41% respondents, 80% said they did not understand how to operate the chain block.

The results of the survey were from 2000 British HSBC customers, as well as from Canada, China, France, Germany, Hongkong, India, Mexico, Singapore, 1000 participants in Arabia United Arab Emirates and the United states.

The HSBC report enriches the investigation on the blockchain, indicating that bitcoin blockchain and technology is still in the early stages of development, is seen in the majority have not yet adopted early.

A survey this year by University of Cambridge shows, at present, in 2.9 to $5 million 800 thousand between the number of active users to estimate the bitcoin wallet. Although only the global population of 0.04-0.05%, but these data show that bitcoin users in just two years at least doubled. There is such a small part of the people to actively participate in the bitcoin market, 40% of the people are aware of the block chain proved that the huge growth potential of bitcoin.

Most people are still not familiar with bitcoin and block chain technology

Monex, Inc., TradestationSecurities, Inc. and MonexBoomSecurities (H.K) Co., a survey published this month, respondents are with China, Japan and the United States retail investors. The results showed that only 3% of the Japanese and US retail investors willing to actively invest in bitcoin, China investors 10% said that their investment is encrypted currency. 20% China and US retail investors report that they are not familiar with the encryption currency. Almost all of the Japanese investors have heard of bitcoin and encrypted currency, this may be due to the Japanese currency were highly publicized encryption and legislative confirmation.

Although media reports the recent surge in bitcoin, but most people are still not familiar with bitcoin and block chain technology. In the consumer survey of developed countries, 59% of the people are still not familiar with the blockchain technology, only a small part of the retail investors to participate actively in Japan, and the United States Chinese encrypted bitcoin currency market, it seems there is still huge potential for growth.

Bitcoin price breakthrough pressure, a record high of the etheric Fang

Bitcoin price breakthrough pressure, a record high of the etheric Fang

By the end of June 1, 2017 afternoon. According to the bitcoin trading network btctrade platform shows the current price of $16800 bitcoin. After yesterday’s opening currency price appeared upside trend, but did not break before the high pressure, then fell, fell below $2000. Afternoon drive time, currency price upside again, as of press time, has been a breakthrough before the high pressure. The market is convenient, the news of India will soon announce a legitimate bitcoin.

Recently Ethernet square prices at historic highs, up 35% over the past 24 hours, the highest price reached 1800 yuan more.

This time the price increase occurs during the currency comprehensive soaring prices of Ethernet, Ethernet with the workshop to enhance the visibility and the mainstream among more and more people interested in crypto currency, in the past three months, prices rose about 1400%.

Ethernet square market has also been a lot of other exchange listed incentive, some experts said the etheric coins in several fields can go beyond bitcoin.

As the etheric coins to make further progress in the wider adoption, the prices continue to soar, because their overall crypto currency gained a large number of capital inflows, resulting in the total market value of the assets of more than $91 billion in the month at the beginning of last month.

In this increasingly widespread trend, the etheric coins have made themselves from other encryption currency in it only has talent shows itself, beyond the half of bitcoin, reached a historic high.

But at the beginning of this year, the market value is less than the etheric currency bitcoin 5%.

Experts said that in 2017 the price of bitcoin or will reach $3000!

Experts said that in 2017 the price of bitcoin or will reach $3000!

VinnyLingham is a service platform identity management co-founder and CEO. Yesterday, he published a blog post on 2017 to share their bitcoin development view and its price trend. In his view, the next year, currency price will achieve double or three times growth.

Bitcoin prices in the past few years, Lingham is the circle of the few who can accurately analyze the currency price trend of people. In April this year, he wrote in his blog, bitcoin market before the end of the year will reach $15 billion. Now, this prophecy is true, bitcoin market highs, recently officially exceeded $15 billion.

Because of excellent performance

The vast majority of mainstream media and analysts from the economic and financial aspects of currency price rise causes. Waste money in India and Venezuela, asset management products (WPMs) strictly limited and strengthen the international capital controls are positive factors to promote bitcoin. However, Lingham said that most people ignore the Federal Reserve (FederalReserve) of bitcoin price hike.

After the Fed rate hike, the value of the dollar will rise. The cause of this phenomenon is the result of the devaluation of the yuan and the yen and other major currencies, thus resulting in bitcoin increased demand, currency prices rose.

Therefore, the Fed rate hike in December 14th after second, bitcoin demand and prices have been increased dramatically, the ultimate currency price and the market value of a record.

Lingham wrote: essentially, the Fed interest rate is high, demand for bitcoin is also bigger. By historical reasons and market crisis, gold hedging products are very popular on the believers. In the period of economic collapse, gold can usually become a value choice. However, this is only limited to the inflation after the Fed cut interest rates for a period of time.

Lingham believes that another factor driving bitcoin prices is supply and demand. Currency price between 800 to 900 U.S. dollars, bitcoin is a serious shortage of supply, thus leading to currency price moment to break the boundaries of $900. As of press time, bitcoin has cost more than $1000.

Lingham:2017 bitcoin forecast

In general, have a positive attitude Lingham bitcoin of the new year, price stability, value and development: I think 2017 bitcoin price (USD/BTC) will be two to three times the growth. Relative to other currencies, it may be four to seven times the growth. But I always think the dollar bitcoin price should be as a measure of currency price of the benchmark.

He believes that the future of bitcoin volatility is not big, is a reliable means of hedging. It is because of less volatility, currency price will remain steady rise.

2017 bitcoin may also usher in supervision of the year. Lingham explained that some countries may be prohibited or at least limit bitcoin transactions. However, but this kind of policy will further promote the bitcoin on the black market demand is a positive driving force.

Finally, the analysis of currency price gains and long-term trends based on Lingham forecast in 2017 the price of bitcoin (USD/BTC) could reach $3000 or three times of the current price. He stressed that other currency bitcoin prices may reach four to seven times the growth.

If you want to know more bitcoin related, with “money said” WeChat (micro signal: bishishuo), note: BtcTrade. Before entering the official exchange group.

Indian tax authorities issue tax notifications to cryptocurrency investors

nBankruptcy comment: Sushil Chandra, chairman of the Central Directorate of the Central Directorate of Taxation, confirmed at the event on Tuesday that the agency has issued a tax notification to residents who did not include a cryptocurrency investment in their income tax returns. At the same time, it also expresses the obligation of taxation on the proceeds of crypto-currency investment. Earlier, the agency conducted several surveys on crypto currency transactions across the country, and the results of the survey revealed that cryptocurrencies did not properly and properly disclose the holdings of their cryptocurrencies.n
nTranslation: Clovern
A tax official in India said that revenue from encrypting monetary investments would have to bear the tax obligations and said the agency would look into tax avoidance staff.n
Sushil Chandra, chairman of the Central Board of Direct Tax in India, confirmed at the event on Tuesday that the agency has sent nearly 100,000 notifications to local residents who did not include a cryptocurrency investment in their income tax returns.n
According to Chandra, these notices were issued by the department’s law enforcement agencies across the country to ensure that cryptocurrency investors are aware of tax obligations.n
Chandra said:n
n”We have been giving notice to those who have invested in [cryptocurrency] and have not reported their income on tax returns and have not paid any profits on investment, because we think it is taxable.”n
nThis latest statement issued by the Indian taxation department also confirmed the contents of the previous report, which indicated that after a nationwide survey found that the transaction volume of cryptocurrencies reached 3.5 billion U.S. dollars in the past 17 months, the tax authorities sent to investors Tax notice.n
According to Chandra, the tax authorities have conducted several surveys on domestic exchanges to gather information on frequent traders, including “how many people trade frequently, how many people are themselves registered, and how many people have completed the transaction.” “n
According to the survey, the agency said investors who received the notice failed to clearly and properly disclose the holdings of its cryptocurrencies.n

India’s finance minister said the government wants to ban the use of cryptocurrencies locally

nBankruptcy comment: Although India is also one of the world’s major cryptocurrency markets, its government has long been unpopular with such new things and has repeatedly issued statements stressing its risks and harms. Recently, India’s finance minister again said in his speech that the government wants to prohibit the trading and use of cryptocurrencies in India. However, given that the government has never taken any real measures to constrain and standardize this market, it is hard to imagine any substantive regulatory work triggered by the Treasury’s remarks.n
nTranslation: Inan
In a speech to his annual budget this Thursday, India’s finance minister, Arun Jaitley, reiterated the government’s intention to ban the use of cryptocurrencies in India. He pointed out that the Indian government does not think digital currency is legal currency.n
According to Indian media LiveMint reports, he said in his speech:n
n”The government does not consider the cryptocurrencies to be legal or monetary and will take all measures to curb the use of these cryptographic assets in the financing of illicit activities or any payment system processes.”n
nHowever, Janetley did not say it was forbidden to trade bitcoins and other cryptocurrencies. In fact, he said the Indian government will encourage the use of blockchain technology in traditional payment systems, indicating that the government actually sees the value behind cryptocurrencies.n

India is one of the largest markets for Bitcoin transactions, with one in 10 Bitcoin transactions in the world occurring in India.n
However, the Indian government has long been a passive attitude toward cryptocurrencies and was compared to a Ponzi scheme in a December 2017 circular.n
n”Virtual currencies have no inherent value and are not supported by any asset, so bitcoin and other virtual currencies are nothing more than a speculative move that causes their prices to skyrocket and fluctuate sharply, and there is a real risk of a big bubble in the investment bubble, The characteristics of Ponzi schemes can cause investors, especially retail investors, to lose their hard-earned money, and consumers need to be vigilant and take great care to avoid falling into this Ponzi scheme. “n
nHowever, in addition to issuing such an official statement, the government has taken almost no other steps to really curb the transaction and use of cryptocurrencies in India.n
Since December 2013, the Reserve Bank of India has made three warnings to cryptocurrencies investors that they are putting themselves at risk of financial, operational and legal risks and their own security is under threat. Other Indian banks have also temporarily closed accounts in India’s major cryptocurrency exchange.n
Nevertheless, hundreds of thousands of new accounts appear each month on these exchanges. Therefore, it seems unlikely that this statement by Jautley had a significant impact, at least for now.n

Andhra Pradesh, India, a joint local fund to create a blockchain ecosystem

nRunaway Commentary: Andhra Pradesh, India, to implement blockchain ecology in partnership with local funds by implementing the Fintech Valley Vizag project, including the establishment of a blockchain university, the development of a blockchain stack, Velugu Core, The local innovation into a block chain innovation as the core innovation. Indian Prime Minister Modi’s support for blockchain technology has given the country a long-term technological development environment that is just as disagreeing as the attitude of cryptocurrencies. However, this project is in line with the Indian legal framework.n
nTranslation: Annie_Xun
Andhra Pradesh, India, best known for exploring blockchain applications, will reach a new agreement with local fund companies to further this end.n
Andhra Pradesh, a government agency of Andhra Pradesh, announced that it has signed a memorandum with Covalent Fund to create a blockchain ecosystem for the local Fintech Valley Vizag project.n
The cooperation will soon set up a blockchain University, the first batch of 10 million US dollars.n
Inc42 news coverage, Covalent Fund will help the local blockchain start-ups to provide more funding and resources as part of the Fintech Valley Vizag project as part of the fund will be the local development of the blockchain stack Velugu Core, as a local governance network Blockchain version of India Stack.n
Ram Yalamanchili, Partner, Covalent Fund Description Velugu is “the largest, open-ended information book of cryptography-based, blockchain-compliant, regulatory frameworks in India”n
n”Blockchain offers a whole new paradigm of applications where its expressive protocols have a huge market penetration and attention to early-stage venture capital.”n
nAccording to Inc42, IT Minister Nara Lokesh said Andhra Pradesh hopes to integrate the blockchain platform into government business by next year. Part of the goal is to create transparent governance through the blockchain.n
n”Our focus with Covalent Fund is to create a world-class blockchain ecosystem in this state that allows innovative start-up companies to collaborate with such innovative regions as the state.”n
nThe statement marks the seventh largest state in India to promote technology development blockchain latest move. Last year, the state announced a trial of a land registry account with ChromaWay, a blockchain startup, and the use of blockchains to secure private data with Internet security company WISeKey.n
In fact, from the beginning of India’s Prime Minister Narendra Modi welcomed the technology, the process of blockchain in India has begun to accelerate, but there are still differences on the attitude of cryptocurrencies.n
Over the years, there have been many related projects in Indian states, but not large in scale. For the first time, Velugu has involved a large number of government agencies in blockchain projects.n
So Nara Lokesh said:n
n”The Andhra Pradesh government expects to become a blockbuster state-powered state through its digital assets by 2019. We are optimistic about the blockchain technology platform and are actively using it to make government governance transparent.”n

Indian cryptocurrency traders receive notification from tax authorities

nBankruptcy comment: The Indian tax department previously conducted a survey of the local major cryptocurrency exchange, followed by a notification to local traders asking them to provide details about the cryptocurrency investment and inform them of the tax liability. However, judging from the current situation, such measures do not seem to be cracking down on the enthusiasm of local people to invest in cryptocurrencies, and the number of users and transactions on their major exchanges are constantly on the rise.n
nTranslation: Inan
Encrypted currency investors receive tax notificationsn
According to a Reuters report, the Indian income tax department revealed on Friday that it has notified “tens of thousands of cryptographer” after it investigated nine cryptocurrencies in Mumbai, Delhi, Bangalore and Pune. .n
According to the survey, cryptocurrencies performed more than 3.5 billion U.S. dollars worth of transactions over the past 17 months. A tax official told the news media that people investing in bitcoin and other cryptocurrencies include “tech-savvy young investors, real estate and jewelers,” adding:n
n”We can not ignore this and will have disastrous consequences if we wait until the result of the final ruling on its legitimacy comes out again.”n
nIn December, the tax department has given notice to these investors telling them they need to pay capital gains tax.n
According to Reuters, these tax notices also require investors to provide their cryptocurrencies holdings and funding sources. B.R. Balakrishnan, Head of Survey, Income Tax Division, Karnat State, said:n
n”We found these investors did not provide this information on the tax returns and in many cases did not mention their own cryptocurrencies.”n
India has 600,000 active crypto currency tradersn
According to the “Bulletin of India,” the tax department also announced the number of cryptocurrency traders active in India.n
A tax official explained:n
n”The strong KYC policy followed by crypto currency trading is one of the key factors in our ability to track the total number of investors in cryptocurrencies.”n
nHe also noted that “while 2.5 million people are registered to trade cryptocurrencies, only 600,000 provide KYC details of the transactions that must be followed, and only those who trade on the exchange.”n
In addition, the survey also revealed that “most of the active users of the cryptocurrency exchange are young people aged 25-35 who are technology-agnostic and sensitive to the cryptocurrency market.”n
Indian people fear regulationn
Despite repeated warnings from the government, the Indian people still have a great interest in cryptocurrencies.n
In an interview, Sathvik Vishwanath, co-founder and CEO of India’s major cryptocurrency exchange Unocoin, said the government announcement did not affect the registration and trading process. He pointed out that “ordinary crypto-currency traders will not fail to understand what the government has warned.”n
n”In December, we had about 240,000 new sign-ups, that is, 8,000 people a day.”n
nVishwanath also believes that the number of registered users will continue to grow in January, and that the volume will increase.n

Can India become the holy grail of cryptocurrencies mining?

nRunaway Comment: China has been the main concentration of cryptocurrency pools around the world, but many policy reasons have led to a shift away from many businesses. Bitmain, the bitcoin mining giant in China, went to Switzerland’s “Encrypted Valley,” while India also has some appeal for power costs and regional advantages. Only the Indian government will make a choice, will affect the choice of mining companies. At least for now there are still many countries that oppose cryptocurrencies, which is detrimental to the transfer and expansion of the mining industry.n
nTranslation: Annie_Xun
Bitcoin mining this year has undergone many major changes. Mining hardware upgrade, software to optimize these hardware also upgraded. Bitcoin and other cryptocurrencies have also boomed and will soon change in the near future. Much of mining operations are currently in China, but the government is cracking down on such activities. So we may see many companies moving to India in the near future.n
Where is the future of cryptocurrency mining?n
Most people know that there are some prerequisites for monetization of cryptocurrencies. First, enough capital is needed to build a place of business where electricity is sufficient to generate large amounts of money. Second, where you need to place your hardware, it’s best to have enough cool air. Last but not least, we need to get cheap electricity and minimize the high costs. In the past few years, it is hard to ensure that these elements are in place.n
Therefore, we see many companies set up their offices in China. Although the Chinese government has always liked cryptocurrencies, they still acknowledge that the mining industry may be an attractive source of revenue. Only mining companies are being asked to withdraw as soon as possible, indicating a shift in this positive attitude. It is not certain at present whether this is due to the impact of mining on the grid. In any event, it is certain that these companies must look for other places where mining can be done in cryptocurrencies.n
Then the main problem becomes, which place is the best. For small companies, the current options are very limited. India seems to be very attractive in terms of cryptocurrency mining, though the country’s government is less concerned with bitcoin and other cryptocurrencies. So far, India has not formally oversee cryptocurrencies, which can attract global mining companies. The electricity bill is also lower here, the space that sets the hardware is also big.n
However, it is unclear how India’s government will handle cryptocurrencies soon. Industry experts believe it will drafted aggressive regulation, but the truth may be the opposite. India has a lot of cheap electricity, almost the same level with China. In some areas, the cost may even be lower than in China. However, India may also close its doors to cryptocurrencies if the grid tariffs are too high.n
At the same time, the Indian government will have to recognize the enormous opportunities ahead. In particular, cryptocurrency mining can generate significant revenues for the country, making India attractive to other tech companies. It is doubtful that the Indian government will provide special discounts or rebates for cryptocurrencies mining operators, but no one can be certain. However, no one will think that all Chinese mining will all be transferred to India at once.n
It must be remembered that the factor may be the “last resort” for many cryptocurrency miners. Finding cheap electricity is not as easy as people think. In fact, many companies may be forced out of business if neither India nor China become an option. Only time will tell us what’s coming in the future, but things do not look so good right now. Many countries continue to oppose Bitcoin and all other cryptocurrencies, including mining.n

A lawyer in India filed a lawsuit demanding that the government regulate the cryptocurrency

nBankruptcy commentary: The Indian government’s response to the situation of the local cryptocurrency appears to have been sluggish. Earlier, people have called for government regulation of bitcoin, but so far no significant progress has been made. Recently, a lawyer in India, in order to emphasize the urgency of conducting cryptocurrencies supervision, has submitted a public interest lawsuit, asking the government to truly carry out its work in this area, reducing criminal activities related to cryptocurrencies, and standardizing the market.n
nTranslation: Inan
A lawyer in India recently filed a public interest litigation (PIL) requiring the government to regulate Indian cryptocurrency activities.n
The advocate from Calcutta, named Bivas Chatterjee, works for the government in West Bengal and deals with cybercrime. He filed a PIL with the city’s High Court on Friday asking for a legal framework for cryptocurrencies in India. In his complaint, the lawyer said that as the cryptocurrency was linked to money laundering, drug trafficking and other illegal activities on dark webs, the relevant rules need to be established.n
According to The Times of India, just last month two young Kolkata detainees were arrested by the Narcotics Control Board of India for purchasing and selling narcotics through the use of darknets.n
Chatterjee pointed out that this “decentralized, unregulated and unimaginable economic system” has a huge economic impact and claims that cryptocurrencies have been used to fund money laundering, terrorist activities and tax evasion.n
The complaint states:n
n”There is an urgent need to bring together experts and experts from different fields to form a panel or committee that will ensure that cryptocurrencies are legitimate and accountable.”n
nHe added that “lack of control” has also led to a “dramatic change” in the prices of cryptocurrencies recently.n
According to the Indian Express, Chatterjee believes the government should ban Bitcoin or set up regulators to control the market.n
It is reported that the High Court will hear the case on February 2.n
In April 2017, a board of government officials and central bank officials planned to consider new digital currency-related regulations. The commission prepared a report proposing policies on anti-money laundering and consumer protection.n
In November, the Indian Supreme Court called on the government to respond to calls for its regulation of Bitcoin.n
Recently, Indian Finance Minister Arun Jaitley clarified that the Indian government did not recognize Bitcoin as a legal currency. However, he also pointed out that discussions are under way to standardize cryptocurrencies.n