The government of India to strengthen the encryption currency payment review

The government of India to strengthen the encryption currency payment review

India, a senior Treasury official said the illegal status encryption currency paid government is determined step by step.

December 2017 news reports, India law enforcement agencies in the investigation of money laundering, and digital currency market fraud and tax evasion. Now the domestic Department confirmed also for the near future encrypted currency trading regulatory provision is drafted.

In an interview with CNBCTV18, India’s Ministry of Economic Affairs (IndianEconomicAffairs) secretary S.C.Garg said that the government is the Preparatory Committee, the drafting of encryption currency report is expected to publish the end of the fiscal year.

“The government will step by step to establish its illegal payment system status”.

The officials continued to suggest future regulatory direction is monetary assets transaction and encryption encryption.

Garg said the leadership committee:

“We hope that in the fiscal year the committee may ultimately determine its recommendations, of course, regulators will participate in”.

The government announced in the budget, India’s finance minister ArunJaitley told parliament that the government will be on the illegal transactions using encryption currency zero tolerance policy.

Interestingly, Jaitley’s speech caused agitation in misunderstanding he will India bitcoin community, that the government is trying to ban encryption currency. His speech on television, bitcoin prices fell, but quickly rebounded.

The money is used for encryption of terrorism and smuggling has over the years is the topic, and the market itself may have been there for a long time. But there is no clear evidence of the connection of the two, in addition to the use of bitcoin as drugs and arms trading main payment tool of the Silk Road scandal. In spite of the fact that, but must pay attention to the encryption currency, including bitcoin, have found some legitimate purposes.

It is clear that India does not want to accept the encryption currency is another means of payment, but as a new asset class to be regulated. This has happened in the past, such as the United States government. After all, legal tender allow encryption currency payment will allow people to completely avoid the national issue.

Although bitcoin white paper showed that the purpose of it is to replace cash. But each country seems to be only willing to use it as a digital value, similar to gold. Precious metals do not become legal tender.

Encryption monetary exchange of India’s most popular one of the Zebpay released a blog about the incident, said the results are very positive, the exchange will actively comply with the blockchain and encryption currency Committee (BlockchainandCryptocurrencyCommittee) any regulations formulated.

British couple by 4 masked burglary criminals robbed of cash is not bitcoin

British couple by 4 masked burglary criminals robbed of cash is not bitcoin


In the south of England County of Oxford peaceful and wealthy village of Morse Ford, a British couple was robbed. And usually different, they were robbed of property is bitcoin.

According to the French “Tribune” website reported on January 29th, the cases occurred in the morning of January 22nd. 4 masked gunmen armed with weapons into a manor, there lived a pair of 30 year old couple, their business office also. The host computer will be forced to give in the bitcoin transfers, it is likely that this happens in the real world since the first case of robbery of virtual currency.

Reported that, although bitcoin prices from December 2017 nearly $20 thousand (about 127 thousand yuan) of the high falls to $11 thousand and 200 (about 70 thousand yuan), but the robbery loot is still valuable. There had been a lot of virtual money stolen, but most of them are intrusion trading platform or storage platform to steal. The robbery to remind people, although the block chain technology of virtual currency dependence to be cracked is known, but the virtual currency will be subjected to physical attacks, will give the owner a great risk.

Reported that this type of attack damage may be more serious than cash or credit card. American economist Roubini said on Twitter: “real money, armed robbery to get money will be relatively limited, or wallet may not have much money, or a bank teller machine daily withdrawal limit limit. But bitcoin is not the same person, robbery minutes to steal millions of dollars worth of bitcoin.”

Mobile payment company Square launched bitcoin personal purchase / sale function

Mobile payment company Square launched bitcoin personal purchase / sale function


This Wednesday, payment processing company Square CEO Jack Dorsey revealed that the company’s cash application users can now buy and sell bitcoin. As early as last November, the application of SquareCash bitcoin function for personal choice test. Now, most applications users can use this platform to buy and sell digital currency.

Square said the company’s vision is the global impact

The merchant service aggregator and mobile payment company Square announced that its bitcoin function can now be used for most of the cash users. Previously, the company was tested in November last year, allows users to use this function to enable the individual to buy bitcoin. In addition, the company’s chief executive Jack Dorsey popularized the new application in an article on bitcoin blog, its creator is SatoshiNakamoto. This is the story description of innovative technology summary:

“There are a lot of space to imagine not? One thing is clear: Satoshi’s vision is the global impact.”

Square said, this application allows users to send cash between family and friends and receive bitcoin. The company also stressed that bitcoin prices may fluctuate, unpredictable, and require the user to make informed financial decisions.

Square said, “we let you can cash directly from the application of balance directly buy and sell coins, and other applications, most of the purchase and sale of us are completed in a few seconds, you can even pay your income with free Visa debit card.”

The broader financial channel

Jack Dorsey Twitter to his fans explained that the acquisition of instant bitcoin can buy now.

Dorsey said, “now most of the cash application user can use bitcoin.”

“We support bitcoin, because we believe that bitcoin is a long-term path to more financial channels — this is just a small step.”

Currently, only 4 states cannot access the bitcoin cash service in the application of Square, including Hawaii, New York, Wyoming and Georgia. Since the encryption currency more stringent regulation, these countries will not see bitcoin function.

Brazil digital currency too fire, the number is two times the stock market, currency

Brazil digital currency too fire, the number is two times the stock market, currency


The number of Brazil bitcoin investors has more than on the St Paul Stock Exchange (B3) the number of individual registration. In December 2017, Brazil’s three largest bitcoin exchange, Brazil accounted for 95% of the total amount of all encrypted currency transactions, already has 1 million 400 thousand registered customers. According to Brazil’s largest media group Globo reported that this figure is two times more than at the end of last year, the number of registered B3. The number of bitcoin traders in Brazil may be more than this, other traders may use foreign exchange or online transactions.

According to the exchange’s owner said, because this encryption currency is so popular last year, prices rose sharply. Mecadox bitcoin market (MercadoBatista) CEO Rodrigo Battista (RodrigoBatista) said, “an explanation for this phenomenon is the price of bitcoin”. The bitcoin market reached 750000 in 2017 the number of customers, up 275% over the previous year. To provide services for 300000 people BitcointoYou Andriy Orta (Andr Horta), other investment profitability is another factor to attract investors to buy bitcoin.

A large number of investors bitcoin attraction brought significant growth to the Brazil stock exchange, which is similar with the rest of the world, which greatly hinders their ability to deal with the normal customer service. For example, in the MercadoBitcoin bitcoin market, now has 5000 new registered users every day. A year ago, this figure is only up to 500. The report said, the result is the company’s surge in the number of complaints. In order to cope with the number of investors increased year by year nearly 3.5 times the situation, to strengthen the exchange of the IT system, hire more employees. BitcointoYou the number of employees increased by 4 times, reaching 40 people. Because has 350000 registered accounts, St Paul Foxbit exchange since mid December last year, was forced to stop providing services for new investors.

Wall Street financiers will once again detonated bitcoin Market

Wall Street financiers will once again detonated bitcoin Market


Ready for the explosive growth of bitcoin, because Wall Street financiers are spending their bonuses.

Wall Street people will soon get a bonus.

This digital currency Group executives predict, when bonuses, bitcoin will be crazy to buy”.

Many market observers expected, compared with 2017, encryption market prices will rise significantly this year.

A few weeks ago, bitcoin transaction price of more than $20 thousand, by the end of 2017, bitcoin prices fell to about $11 thousand. This came after the rebound Saturday bitcoin prices reached $16500.

MeltemDemirors is an investment in the currency and the encryption block chain business investment company CEO, he believes that with the Wall Street bonus season, a new trend is unfolding.

Demirors wrote on Twitter earlier this year: “if the January 15th Wall Street bonuses in the bank account, we will see the crazy to buy the picture appeared in the epic on the market.”

Ready for the explosion

At the beginning of this year when Wall Street traders can use their money to influence, because many traders on gambling with their extra income.

In mid January the bonus may be around $138000, it can be inferred from the calculation of the New York state comptroller Thomas Napoli in.

20 years ago, the author describes the New York Times of New York automobile sales personnel, they benefited from the Wall Street bonuses.

The newspaper quoted a car salesman: “they are all young and enterprising people, they can spontaneously decide.

The African revolution bitcoin and block chain nourish

The African revolution bitcoin and block chain nourish

Break the old ideas of oppression and domination of the African revolution led to a bloody battle picture of liberalism. But now, with no discrimination, not the exclusive bitcoin as a tool, the African millennials are free from financial repression.

The ordinary people of Africa if equipped with a smart mobile phone can be involved in the development of the ecological system, and profit from. But more than that, the enterprise wants to block chain technology for the enterprise upgrading alternative tool.

In the daily life of freedom

In order to enable the individual to enter the stock market, or investing in a company or creative, need not only to understand the process. The traditional money market long-term is the elite of the world, cleverly excluded people at different levels.

A more than 30 year old woman in Uganda on the outskirts of Kampala does not meet the requirements of savvy investors. However, bitcoin to all without exception, opened up the world.

The more than 30 ms PeaceAkware told the media:

“Every day I see my bitcoin, looking for any chance I can catch. One minute, one hour, at any time, as often as possible to pay attention to”.

Active alternative tool

Places like Uganda, New York this place alive than a lot of difficulties. Even for college graduates, employment is like winning the lottery, so many people looking for can ease the financial plight of alternative tools.

The so-called “sideline” is the source of daily life many people in poor countries, but they are often not successful, time-consuming and difficult. However, bitcoin provides an alternative tool, less time consuming, easy access, the risk is controllable.

Block chain energy

Some enterprises are using the block chain to cut costs and time, so as to resist difficulties and cruel workplace.

A company called BitPesa to transfer the company in the form of operation, to provide cross-border remittances, but not $medium, but bitcoin and convenient cross-border remittances.

The chief executive of BitPesa ElizabethRossiello explains why this with traditional banks from so effectively.

“In the past few months I was in Nairobi, there are three important problems to deal with the bank. And corresponding to the different bank of Kenya, but for different reasons are delayed or cancelled, the need for additional information. So the transaction almost spent 2.5 weeks, and I was an expert”.

Obviously, the banking system even in the best condition, also has become obsolete, bring a lot of unpleasant experiences, the banking system has some flaws in Africa, need to find alternative tools.

Bitcoin blockchain and education curriculum

Change in Africa and bitcoin block chain exists some problems, which have mentioned how to popularize the technical knowledge to the general public.

This makes some people into the bitcoin education industry.

A Kampala trader MartinSerugga opened bitcoin weekly course, currently the number of students 50 people.

His approach stems from people who say they seek employment and a desperate man.

“If not for the tens of thousands of graduates with University factory or enterprise post, so this is a substitute”.

The miserable man lost 7500 bitcoins worth $127 million

The miserable man lost 7500 bitcoins worth $127 million

According to a report in the British “telegraph”, the name of James Howarth (JamesHowells) man living in southern Newport Welsh (Newport), started in 2009 in his notebook computer “mining” bitcoin, a total of 7500 gold digging, stored in the computer hard drive. In 2013, he stopped after mining, the laptop computer is split into several parts, in the eBay auction.

How keep a computer hard drive, I hope some day in the future bitcoin become valuable, he can be the bitcoin cash. Unfortunately, in 2013 to clean up the house when he took this hard drive into the garbage, the garbage was sent to the local landfill buried.

Since a few years after that, bitcoin prices rose sharply, especially since this year rose 10 times, at present every bitcoin price at around $17000, means that if there is no Howarth to lose his bitcoin, bitcoins will now be worth more than $127 million.

In the meantime, a lot of garbage is poured into the landfill. If he wants to find their own bitcoin, will be a very difficult job. Howarth said: “modern landfill is a complex engineering project, mining a thing will bring all kinds of environmental problems, such as dangerous gases, and may cause fire. This is a huge, expensive and risky projects.”

In any case, he wanted to try, but the Newport municipal authorities are not allowed.

In an interview with the technology website Wired, a spokesman for Newport City Hall said that their office received Howarth application, but mining, storage and processing of waste may cause huge environmental impact on the surrounding area.

The landfill the field reportedly buried about 350 thousand tons of waste, and an annual increase of 50 thousand tons.

The City Hall officials pointed out: “this hard disk may have been subject to severe corrosion, even found may not work.

In addition, this work may require special construction vehicles, may have to spend millions of dollars. Although Howarth has found sufficient financial support, but still need to be approved, because the landfill is not open to the public, illegal entry will be regarded as a criminal offense.

With bitcoin prices continued to soar, some people speculate that bitcoin will eventually lose how very valuable, then city hall will be forced to allow him to explore.

Study on the method of tax service in South Africa to track bitcoin transactions

Study on the method of tax service in South Africa to track bitcoin transactions


Encryption of money market regulators, government and tax personnel on how to keep up with the rapid growth of confusion. In the market there is a large gray area, in this market, usually the incident will be handled.

In order to achieve this goal, to help the South African tax authorities – the South African tax authorities are seeking top technology companies from around the world to try to track bitcoin transactions.

The South African Department of revenue (SARS) this attempt may open a worm, because of privacy will be deep into the transparent and anonymous bitcoin transactions.

How is it now

According to reports, in September this year, only 802 people in the United States for the bitcoin income tax, because the IRS almost have no alternative but requires only the honest people.

This approach extends to most countries, because it still has no precedent to force people to disclose their privacy transactions.

Banks are required to provide “SARS” and other tax information institutions in other countries, and provide customers with investment information to verify, but in an encrypted environment is the lack of such information.

Tough fight

With more and more people into the encryption market, which makes the revenue service is in a tense state.

“Executive director RandallCarolissen SARS” organization admitted that they are looking for tracking bitcoin trading options.

“As you can imagine, block chain technology is very difficult. We are in talks with some of the top technology companies in the world, these companies are doing similar work for Canada and the UK, we hope to get such a technology.”

“Black handcuffs”

The real problem lies in the protection of bitcoin is the right of privacy, any organizations are difficult to break through the rights in law. Bitcoin transactions are transparent, anonymous, but this is not entirely anonymous.

There is no information about how to monitor the distributed system transactions precedent, tax services and other regulatory agencies will need to come up with a solution.

The problem is due to the dispersion of bitcoin, no one can find other currencies like bitcoin. The transaction is open in the block chain, but when it comes to put these transactions tied in one person and are taxed, regulators are still an opaque field.

Goldman bitcoin: bitcoin name and gold difference.

Goldman bitcoin: bitcoin name and gold difference.

Goldman Sachs Global Commodity Research Director JeffCurrie said that bitcoin is a commodity has many similarities with gold, caused mainly due to fluctuations in investor concern is its lack of liquidity.

Currie in an interview with Bloomberg Television Interview, said: “I do not understand why there is so much hostility.” Bitcoin and gold and there is no difference “too much, because it is not by definition given by the responsibility to pay.

This encryption currency soared this year nearly 11 times, reaching $11000, while gold rose about 12% over the same period. Investors for bitcoin attitude is quite distinct from each other, such as Warren Buffett called “a true bubble”, while the billionaire venture capitalist PeterThiel that critics underestimate it. Nobel laureate Joseph Stiglitz said, “bitcoin success just because of its potential to avoid, lack of supervision, should be banned.

Currie said that most people do not think that bitcoin trading of the currency and gold are interchangeable, and that there is an important difference between the two.

“You can see that the ground gold total reserves of $8 trillion and 300 billion – this is the real liquidity,” he said, “the central bank controls the supply of a large amount of gold, so gold and bitcoin can not completely replace.”

Wednesday bitcoin beyond $11000 after touching $10000 milepost just a few hours. Because the buyer did not bother about the maximum number of money is an asset bubble warning.

“The lack of liquidity is the cause of this wave and everyone concerned about the cause of bitcoin,” Currie said, “in view of gold liquidity level and the size of the market, it will never be like bitcoin volatility.”

Currie said bitcoin “and many other commodities have similar properties”, “real innovation is the ledger, block chain, rather than bitcoin itself”.

For the digital currency and the blockchain password new technology seminar held in Beijing

For the digital currency and the blockchain password new technology seminar held in Beijing

In November 2017 18-19, “for the digital currency and the blockchain password new technology seminar” held in Beijing century Lotus Pang Suan Kaew Hotel. This symposium was sponsored by the China Institute of Youth Work Committee Chinese password, password to cyberspace security contractors, Beihang University and Beijing Institute of three principal technology development company limited. Deputy director of the State Encryption administration Xu Hanliang Chinese password society Wang Chieh chairman attended the meeting and delivered a speech, the State Encryption administration business secret manages director Zhang Pingwu, deputy inspector An Xiaolong, China password Society Secretary General Yu Yanping and other leaders and guests attended the meeting. The password from the research institutions and institutions of higher education and enterprise application units of experts and scholars, researchers and graduate students and more than 340 people attended the meeting.

Xu Hanliang pointed out in his speech, the innovation and development of block chain technology and digital currency launched a new round of the wave of digital technology in the global scope, promote the innovation of industrial structure adjustment and economic way. The Chinese government attaches great importance to the development of digital currency and chain block, block chain technology is incorporated into the “” 13th Five-Year “National Informatization Plan” overall layout. The innovation and development of block chain technology has put forward higher requirements on financial information security and network security space. Digital currency and block chain technology advancement, must call the safety theory, safety and safety technology innovation, shouldering the great cipher technology challenges of the era proposition.

Chairman Wang Chieh pointed out in his speech to promote the digital currency and chain block cipher technology innovation and development, must be under the direct leadership of government departments, research with several parties to form a joint force.

This seminar served as honorary chairman of the Chinese software institute deputy chief engineer Zhang Zhenfeng researcher, Beihang University Professor Wu Guttman J D served as chairman of the meeting, Chinese information security research institute director general senior engineer Yang Chen served as co president of the general assembly, from digital currency and 29 block chain production, learning and research as guests and representatives of the discussion. Conference on the theme of “new password technology” digital currency and the blockchain arranged 15 special reports, involving legal digital currency research, digital currency and the blockchain privacy protection technology, the blockchain application scenarios, based on intelligent block chain contracts in cryptography and quantum era after block chain security the protection of technical problems.

Data communication science and Technology Research Institute senior engineer Zhang Zhiheng, The PLA Information Engineering University professor Si Xueming, Zhong Chao block chain technology research institute Dean Zhang Yifeng, Shandong University professor Xu Qiuliang, Hong Kong Polytech University Wen Hao assistant professor, Zhongshan University professor Zhang Fangguo, Xi’an Electronic and Science University professor Chen Xiaofeng, Fudan University professor Zhao Yunlei, Professor He Debiao of Wuhan University and the three principal company Yue Gong Zhang senior engineer at the seminar on the first day. The theme of “the legal application of digital currency and password” password “currency system safety research” “block chain and social credibility” collaboration “block chain structure and stability” BasedCryptocurrencyMonero “-” CryptographicAccumulatorandItsApplicationtoBlockchain “based on the blockchain searchable symmetric encryption” “electronic cash” development and decline “practical progress and application of lattice signature block chain potential analysis” “cryptography in block chain security application and Engineering” “practice” chain block cipher of the keynote speech. Shanghai Jiao Tong University professor Gu Dawu team Liu Zhiqiang, associate professor of Peking University, Professor Xu Maozhi, Shaanxi Normal University Professor Yu Yong, associate professor Fan Lei of Shanghai Jiao Tong University and the University of Electronic Science and technology Dr. Yang Ting at the seminar on the second day the “distributed” key technology “books and privacy” blockchain “zero knowledge proof in the digital currency” application “in the open environment of PoS block” contract agreement “chain of intelligent development and future” keynote speech.

The evening of November 18th, held a seminar of experts, the key problem how to focus on digital currency and block chain technology development direction, the experts use cryptographic technology to achieve digital currency and the blockchain privacy protection and supervision and other digital currency and block the development of in-depth discussion. The meeting of experts spoke enthusiastically, full communication, warm atmosphere. The theoretical basis the results of discussion will help consolidate the digital currency and block chain technology development direction, to help clear the digital currency and block chain technology, promote industrial upgrading and escort for the block chain technology.

This seminar provides a good exchange platform and loose, equal and free communication space for the research and application of cryptography technology in digital currency and the blockchain technology workers, delegates speak freely, published a collision sparks high perspicacity, and promote academic progress, mutual exchanges and enhance friendship. The research with contact. Conference on research, development and application of cryptography technology in China to further promote the digital currency and the blockchain, has a positive role in promoting.