Arizona promoting bitcoin payment bill

Arizona promoting bitcoin payment bill

Advance a legislative proposal of Arizona state legislator, may allow a resident of the state with bitcoin payment tax.

The media reported earlier this month, the Arizona legislature received legislative proposals, if approved, the taxpayer can use tax payment in bitcoin or other encryption currency. Bill dated January 9th.

Display the contents of the bill:

“Upon receipt of tax, the IRS will be in accordance with the mainstream exchange rate within 24 hours, the encrypted currency into dollars. And after the exchange of dollars in taxpayer accounts”.

Public records show that last week the Arizona Senate Finance Committee has to 4-3 through the move. The bill was in the Senate rules committee approval stage, but the finance committee will increase the possibility of bill endorsement.

The conversation with the local media in ABC15, a state senator, Bill drafting WarrenPetersen, and feedback from voters act requirements.

“Since I started working, I was surprised by the number of encryption currency holders more, than you might guess”.

Vietnam bitcoin mining equipment has soared more than 7000 of imported ore

Vietnam bitcoin mining equipment has soared more than 7000 of imported ore


According to the Customs Department revealed that the number of known mining ore imports in 2017 to Vietnam has more than 7000 units, mostly from China, has imported more than 5000 Taiwan machine since November. In Vietnam is to limit the use of bitcoin as a means of payment at the same time, mining equipment is not in the list of prohibited goods.

Imports of more than 7000 mining machine

According to Hu Zhiming, the Customs Department, from early 2017 to mid December, 7005 bitcoin mining machine clearance.

Previously, the Department announced that during the period from January 1st to October 31st, the Department received a total of 1988 import declaration, the value of $2 billion 182 million.

Then, from the beginning of November 2017 to December 21st, the number of imported ore mining in Vietnam and an increase of 5527, the total reached 7005 units of imported ore. There is news that the 5527 machines mostly through the 8 institutions and individuals from China imports.

Not to prohibit mining equipment

Vietnam customs had asked the State Bank of Vietnam, the Ministry of information and communication and the Ministry of trade and industry comment on mining equipment imports. The central bank confirmed that bitcoin mining machine “and other encryption currency has nothing to do with the use of virtual currency as a means of payment”. Therefore, they do not belong to the national bank management functions and tasks”.

Subsequently, the General Administration of Customs issued a notice specifying mining machine is not in a list of prohibited items. Vietnam times stated:

The Customs announced bitcoin mining machine is not in the list of goods after the state regulations prohibit the import, the number of machines in the last two months of imports this year soared to more than 5000.

Mining equipment may be prohibited in the future

NguyenHoangMinh, deputy governor of the State Bank of Vietnam said bitcoin and other encryption currency is not the legitimate means of payment in vietnam. Therefore, the ban, supply and use of bitcoin and other virtual currency as a means of payment.

Sources pointed out that some enterprises and individuals about imports of mining equipment will also be prohibited.

Hu Zhiming, the Customs Department has suggested Vietnam customs machine “do not import these types”. But so far, the General Administration of customs and relevant departments have imported mining equipment for the exchange of documents.

India residents from bitcoin transactions arbitrage that bitcoin is a new asset

India residents from bitcoin transactions arbitrage that bitcoin is a new asset

Encryption of the value of money in a short span of four years suddenly surge, bitcoin prices from $13 increased to $1200 now.

In India, bitcoin traders can through bitcoin exchange or directly from the individual hand to buy bitcoin. Now some India bitcoin users has been specializing in bitcoin arbitrage, they buy bitcoins from low price of bitcoin exchange, and then sold to another bitcoin exchange.

In India New Delhi, a man named Rahul (Rahul) bitcoin users have heard of bitcoin in four years ago, when he was about to bitcoin through a multiplayer online game. Rahul said,

“This is a can take control of their own wealth, so I conducted a bitcoin transaction.”

Then the value of bitcoin soared from January 2013, a bitcoin price of $13, to $1200. Four years ago, Rahul from relatives to return home to the bitcoin investment. Rahul said,

“When I told my brother when bitcoin, he asked who I was with bitcoin. I told him, no one can control the bitcoin, it functions for the layman is difficult to understand.”

Rahul said, people can purchase or mining bitcoin (New bitcoin), but the latter requires high-end computing power and a lot of time. According to Rahul now used bitcoin mining machine, at present every month he can dig 0.1 coins. Rahul said, “not only unprofitable, nor practical.”

Now Rahul like many people, they are from the bitcoin exchange to buy bitcoin and sell it at a higher price. “Investment” bitcoin and investment gold or other currencies are very similar for buying, waiting to enhance the value, and then sell.

SahilBansal is a business analyst to Noda, he witnessed the India bitcoin growing. But he never use bitcoin payment or arbitrage, “I just think of it as assets.” Today, if he sold their bitcoin, he can earn 75000 rupees. But Bansal insisted on holding bitcoins, until the government of India to decide how to deal with bitcoin.

India bitcoin exchange Zebpay co-founder and CEO SaurabhAgarwal said, in the real world, few people use bitcoin payment of the value of goods and services.

“Like gold, the Indians think that this is an asset class, its actual value is the total transaction value of 1%. We believe that once the merchant of India clearly bitcoin regulatory and tax items, we will see bitcoin play a role in the payment.”

The economic turmoil, hedging product scarcity can promote bitcoin prices?

The economic turmoil, hedging product scarcity can promote bitcoin prices?

2007-2008 years after the financial crisis, the government regulation of the market has attracted a lot of staff complaints, but this is beyond all expectations, but the regulatory bitcoin more attractive.

After the outbreak of the financial crisis, regulators formulated a complex set of restrictions and fetters is designed to ensure sustainable and stable operation, the global financial system. The new framework is applicable to many different aspects of the financial services industry, including financial institutions involved in the transaction.

According to the new regulations, investors need to deposit cash in the transaction, namely “margin”. General trading middleman: margin by the clearinghouse for safekeeping, through this form, even if one party quit, also can ensure the smooth progress of the transaction.

Subsequently, the clearinghouse can through repurchase agreements or “repo” market, the cash in the safe assets (such as German bonds or treasury bonds), short-term loans.

So, safe assets (especially high quality government bonds) has become increasingly scarce.

The European central bank executive Mo Shi (YvesMersch) recently warned that the situation may be more severe.

He January said in a speech: “the market for the concentration of bills of exchange demand is still rising, so the financial market infrastructure in collateral cash exchange demand will rise.”

In panic buying of safe assets, the clearing house and not fight a lone battle. The world’s central banks have taken similar actions, they bought trillions of dollars of debt in the wake of the financial crisis.

Quantitative easing (QE) is one of the main target is to cut interest rates to stimulate lending, promote economic growth.

This policy is largely successful, for many years, the interest rate has remained at a very low level.

The pursuit of profit rate

Although the quantitative easing policy has created a low interest rate environment, but also produce beyond all expectations downward pressure on the rate of return.

Crypto currency hedge fund EAM chairman TimEnneking said: “it is a safe haven asset shortage, rather than all asset yields are low.” It also makes bitcoin more attractive.

He added: “low yield environment is to stimulate investors to encrypt currency interest.”

Encryption currency fund manager JacobEliosoff said: at present, the key demand by high yield investment opportunities arising from the scarcity of bitcoin is raised.

Disaster hedge

The ARK block chain investment analyst, product manager ChrisBurniske bitcoin news network CoinDesk said: “the local geopolitical and macroeconomic uncertainty during the surge, bitcoin prices tend to be boosted. Therefore, the capital market has bitcoin as a disaster hedge.”

Although investors in turbulent economic times tend to seek more safe assets, but the safety of scarce assets may make money into bitcoin. So if the economic recession, the stock market fell, the price of bitcoin may therefore rise.

Investment management company, managing partner of BinaryFinancial HarryYeh CoinDesk said: “the company launched a new fund specifically for high net worth clients and institutions, so that they invest in high return assets offbeat.”

He added: “when devaluation or a British exit such global macroeconomic events, encryption currency by investors as a safe haven asset.”

In addition, some analysts (such as Eliosoff) presents a more complex hypothesis, he stressed: Although the recession may boost the bitcoin, but the specific situation depends on factors and lead to recession.

MichaelMoro, President of financial institutions GenesisGlobalTrading pointed out that the “security” is a relative term, financial resources and geographical conditions play a key role in the decision-making of investors.

He added: “if I am an American investor, there are a lot of security assets available I chose, but when the crisis comes, bitcoin may be my first choice.”

Moro believes that the historical data show that not related to bitcoin prices and other asset prices.

If there is a recession or financial crisis, due to panic, investors will sell all kinds of assets, resulting in various types of securities devaluation. Cryptocurrencies will become more attractive.

Foreign bitcoin prices catch up with domestic innovation high

Foreign bitcoin prices catch up with domestic innovation high

According to the news, on Saturday, the price of bitcoin and break a record, but this breakthrough is done in the foreign market, the domestic prices did not break through the history.

As of February 24th 19, according to the European bitcoin exchange BitStamp, bitcoin prices exceeded $1200, the highest intraday record high of $1220, foreign exchange, one step closer to the price of gold, gold prices reported 1250 U.S. dollars / ounce. Reuters reported that the total value of bitcoin is close to $20 billion, and Iceland’s economy is.

Due to the bitcoin exchange at home and abroad, the price is different, and there is no uniform price, so although foreign broke the record, but in the domestic exchange price, and can not exceed the peak of January 5th and the foreign exchange market, the price is generally higher than domestic, industry insiders pointed out that China led the market has ended, China outside the price upside down.

A senior industry source said, in 2014 the world’s largest bitcoin trading platform – Japan exchange Mt.Gox due to the loss of a large number of bitcoins after the collapse of the Chinese market began to dominate the bargaining power, until the beginning of January 2017 Chinese the central bank to strengthen the supervision of bitcoin. At present, the domestic and foreign market “Rainbow Night”, China trading enthusiasm has been restrained, now users are watching, that money pocket for security, and as a product of global technology, bitcoin News International recently constantly, especially in japan.

Since January 6th, the people’s Bank of China through interviews with bitcoin exchange mode, the working group stationed in platform office, responsible for repeatedly announcement of survey results, conducted several rectification in just over a month bitcoin industry, in order to “push” industry bubble.

In the process, bitcoin price shocks, plunging and slowly pulled up. While the domestic bit than exchange transaction fees charged, stop financing currency business, trading volume fell last year in the global market share of 90%, now has slipped to below 30%.

SEC once again postpone the listing application Winklevoss bitcoin ETF fund

SEC once again postpone the listing application Winklevoss bitcoin ETF fund


SEC has not been approved by the Cameron and the TylerWinklevoss brothers listed bitcoin Exchange Traded Fund (ETF), the president of the United States during the period of change.

The original plan in January 10th SEC will announce the results of the audit, but the latest documents show postponed to March 11th.

Even though the delay is expected, but the observation of an industry said this is due to the transition of power.

ARKInvestmentManagement block chain product director ChrisBurniske said, the chairman of the SEC MaryJoWhite announced that it would follow the resignation of Obama, which is just beginning to adjust within the U.S. government.

“This big project will surely be postponed. If there is no time to discuss, can only be postponed”.

This is not the first time delay.

Due to regulatory restrictions, the Winklevoss brothers failed to make this evaluation.

The outcome

In any case, in accordance with the law, 240 days after the longest extension for submission.

In general, SEC will approve, or wait for the audit due, not by default.

In this case, usually SEC will choose the approval or revocation of amendment of law, rejected the application”

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

The Russian Ministry of Finance proposed to prohibit the use of alternative currency, or will once again ban bitcoin

The Russian Ministry of Finance proposed to prohibit the use of alternative currency, or will once again ban bitcoin

Russian August 1st news, the Russian Ministry of Finance proposed to prohibit the use of alternative currency transactions, including digital currency. The Ministry of finance has not yet announced specific recommendations. The Central Bank of Russian Federation in January this year that the virtual currency transactions suspicious, so users and legal entities of the virtual currency issued a risk warning.

At present, the domestic alternative currency issue is prohibited. But the Ministry of finance also pointed out that the definition of “law there is no alternative currency”.

The Ministry of Finance said that virtual currency to avoid the regulatory control of the country, illegal and criminal activities of the anonymous owners use it was difficult to track the illegal income, legal words.

Therefore, recommended the development of legal provisions prohibiting alternative currency, including electronic currency. In addition, it is recommended to clarify the provisions of the Central Bank of Russian Federation on the alternative currency, not only to prohibit the dissemination of alternative currency, and extended its trading ban. May the restrictions prohibit the use of alternative currency payment, foreign exchange and the ruble. In addition, the Ministry of finance also suggested to use administrative means to pursue issuers, communicators, operators and agents of responsibility.


Wanda Wanda Branch Network and also block chain block chain company reached a cooperation in New Zealand

Wanda Wanda Branch Network and also block chain block chain company reached a cooperation in New Zealand

 Wanda Wanda also block chain branch network and New Zealand block chain company cooperation (1)

The blockchain boom also hit Wanda Group.

“Frontline” Tencent from New Zealand Oakland venture studio Centrality official website has learned that the company Chinese enterprise announced Wanda Group Reach A new partnership.

Centrality company in January this year the successful sales of tokens, raised $80 million in six minutes.

Centrality said, with the network technology group Wanda together to create a connection with consumers, retailers and other parties to the ecological system.

Wanda Wanda Group Chairman Wang Jianlin in 2017 annual meeting, in order to adapt to the transformation, also to the capital market, Wanda to adjust to the management structure of the company.

The implementation part of Wanda Group for the network of layoffs at the end of 2017, Wang Jianlin said at the annual meeting, will set up new network company. strategy cooperation Sure, then determine the business objectives.”

Wang Jianlin expectations of the new network technology group is to engage in development, fusion line of business will be integrated for Wanda Wanda business management, network technology and Information Center, the establishment of Wanda new consumer research institute. Institute’s mission is through the integration of consumption data for the business value, so that businesses feel useful.

“Frontline” of Tencent said Wanda Branch network group, this cooperation does not involve financing, the first stage is the technical cooperation between the two sides, application of PL^G open source public chain technology research and extension of Centrality in the scene; we would expect there will be more to carry out cooperation in the business circle of users, technology integration. Build ecological system.

Wanda network technology group began to layout block chain from March 2016, including domestic and international standardization work, and the open source community, block Chain industry solutions development.

[source] Tencent