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Argentina Introduces Cryptocurrency Tax Rules + 11 More Crypto News

Argentina Introduces Cryptocurrency Tax Rules + 11 More Crypto News 101
Source: iStock/Buenaventuramariano

Crypto Briefs is your daily bite-sized digest of cryptocurrency and blockchain-related news – keeping you up-to-date with under the radar crypto news from around the world.

Regulation news

  • Argentina’s financial regulator, the Federal Administration of Public Revenue, has introduced cryptocurrency tax rulings, which became effective as of today. In an official release, the government stated that crypto exchanges in the country must provide details of account holders’ wallet balances on a monthly basis – and that the reports must be made in Argentine pesos, rather than cryptocurrencies.
  • Belgium’s regulatory Financial Services and Markets Authority has updated its list of crypto scam sites. Per an official release, the regulator has added nine more website URLs to its list – making for a grand total of 131.
  • Digital asset custody platform Koine was granted authorization for the issuance of electronic money (EMI Licence) by the Financial Conduct Authority (FCA) in the UK. The announcement says that this authorization allows Koine to provide real-time e-Money payment services to the institutional clients. "While it is linked to, and facilitates the custody and settlement model described below," says Koine, "these services are currently outside the UK regulatory perimeter and the e-Money authorization should not be read as authorization of Koine’s transformative custody and settlement model for digital assets."

Trading news

  • Binance could be set to re-open in mainland China, just over two years after the country executed a crypto-crackdown, forcing exchanges to relocate overseas. Per a report from media outlet Coindesk, “two sources with knowledge of the matter” claim that Binance is in talks with authorities and could receive the all-clear to open a Beijing office – although it is not clear what the functions of this office would be. Additionally, the exchange may be opening an office in South Korea as well, according to a separate report by Coindesk.
  • South Korea’s leading cryptocurrency exchange Bithumb says it will change its name to Bithumb Korea. The company has also made new executive-level appointments, including former Barclays Bank and Shinsagae official Choi Jae-won. The exchange has announced “expansion plans,” per Money Today, including a new anti-money laundering center. It will send a team of developers to the government-approved blockchain deregulated zone in Busan.
  • Robinhood Crypto announced that it's bringing crypto trading to additional eight states in the U.S.: Delaware, Kentucky, Louisiana, Maine, Maryland, Minnesota, Nebraska, and Vermont, which means that it's now available in 46 states and Washington D.C.

Security news

  • Blockchain platform Coinfirm launched ReclaimCrypto, a join venture with global investigations firm Kroll, that aims to help recover stolen crypto. While most of the focus will be around BTC and ETH, they will also offer recovery services for stolen ERC tokens, XRP, BCH, LTC, NEO, DASH, and more to be included in the near future.

Mining news

  • The South China Morning Post has looked into the details of the Chinese province of Sichuan’s Bitcoin mining plans. As previously reported, the province is hoping to attract more miners to the area, offering them access to excess hydroelectric power. The media outlet states that its sources believe that during the annual rainy season (June-July), Sichuan’s electricity tariffs drop to as low as USD 0.02 per kWh, lower than the USD 0.11 per kWh rates quoted elsewhere – a factor that may be of interest to miners.

Adoption news

  • Aaron Brown, a Bloomberg writer and former managing director and head of financial market research at AQR Capital writes that “[crypto] futures will pull cryptocurrency out of the dark.” Brown also opines that 2019 will be remembered “as the year when [cryptocurency’s] path to peaceful coexistence with established markets became clear. He adds, “Bitcoin futures exemplify the maturing of crypto markets.”
  • And in Japan, an artist is organizing a cryptocurrency-themed Virtual Currency Offering Festival in downtown Tokyo on November 9-10. The organizers say that the eclectic celebration, created in association with Tokyo’s Digital Hollywood University, involves robots and Shinto shaman prayer rituals that will bestow coin issuers – and their owners – with good fortune…perhaps!
  • Blockchain electronic invoices issued in Shenzhen, China have surpassed 10 million in number as the city promotes e-billing, according to Xinhuanet. Citing the Shenzhen Tax Service, the article says that more than 7,600 companies have accessed Shenzhen's blockchain electronic invoice system, with an aggregate invoice amount of more than 7 billion yuan (c. USD 1 billion).
  • Klaytn, the blockchain platform led by South Korean giant Kakao Group, announced that eight new 'KLAY BApp' (blockchain applications) services have joined Klaytn to expand its blockchain ecosystem and bring mass blockchain adoption. The new partners, which have joined after the initial group of nine was announced back in June, include: Korea-based weneepl’s TCG (Trading Card Game) ‘Crypto Legends,' Skypeople's collectible RPG (Role-Playing Game) 'FiveStars,' a blockchain-based game platform 'PlayDapp,' arcade game 'Battle Racers,' a dating simulation game 'EVOLUTION,' and digital collectibles platform 'Terra Virtua.'
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