The IRS Is Cracking Down On Cryptocurrency Transactions. Here’s What That Means For You (Time.com)
Investors aren’t the only ones interested in big cryptocurrency profits. The IRS has a growing curiosity about them too. And that could spell trouble for cryptocurrency investors who made out like bandits in 2017, when Bitcoin and altcoins enjoyed a break-out year. Recently, the popular cryptocurrency exchange Coinbase capitulated to the IRS and the courts and announced that it would send requested transaction information on approximately 13,000 of its users. This is to comply with a court order issued in November. “Coinbase fought this summons in court in an effort to protect its customers, and the industry as a whole, from unwarranted intrusions from the government,” the company wrote in its announcement to customers.
Over $1: XRP Rises As Ripple-Coinbase Rumors Renew (CoinDesk.com)
The price of the third-largest cryptocurrency by total value is up 16 percent Monday, buoyed by speculation it could soon see a major exchange listing. Indeed, comments on social media indicate investors now expect XRP price to extend Monday’s gains ahead of an alleged appearance by CEO Brad Garlinghouse on CNBC’s “Fast Money” Tuesday. Also said to be on the program is Coinbase COO Asiff Hirji, a possible coincidence that’s raising conjecture the major U.S. exchange will add support for XRP trading. Currently, Coinbase offers trading for bitcoin, bitcoin cash, litecoin and ether, meaning the addition of XRP could enable a new outlet for retail trading. Still, while details about the appearance are scant (it’s not clear if the two will be appearing together, and neither has tweeted plans for the show), XRP is trading at $1.05, having appreciated 16 percent in the last 24 hours, according to data provider CoinMarketCap.
Ethereum will overtake Bitcoin in market cap, says Roger Ver (Crypto-lines.com)
Roger Ver, one of the first investors in Bitcoin and a staunch advocate of Bitcoin cash has claimed that Ethereum will overtake Bitcoin in market capitalization in the near future. Roger who is well known in crypto circles and a controversial figure made these remarks in a recent interview. He believes Ethereum has surpassed Bitcoin on many metrics. So far the Ethereum platform is cheaper and has faster confirmations. Ver has specifically been impressed by Ethereum’s developers and has high praise for the new changes they are trying to implement. He believes Bitcoin no longer holds the position of the ‘top dog.’ In the interview, he says Ethereum’s advantage lies in its upcoming innovations coupled with network improvements that are much needed.
PR: Electroneum Launches Groundbreaking Mobile Miner (News.Bitcoin.com)
After a successful week exhibiting at Mobile World Congress in Barcelona, Electroneum has launched its groundbreaking mobile miner, which will open the world of cryptocurrency up to billions of smartphone owners around the world. Currently, cryptocurrency is largely too difficult to obtain and spend for most people, especially in the developing world. The Electroneum project’s core aim is to achieve global mass adoption of cryptocurrency, and one of its main mechanisms to do this is the long awaited mobile miner. Electroneum’s mobile miner allows anyone with a smartphone to earn a few US$ worth of cryptocurrency every month by mining Electroneum.
Taiwan Airline Accepts Bitcoin Seeing ‘Bright Future’ for Tourism Sector (Bitcoinist.com)
FAT’s announcement on February 28th states that the airline will accept cryptocurrency payments, namely Bitcoin, for tickets and related travel services as it looks to become a pioneer in cryptocurrency adoption within the country’s aviation industry. Passengers can now use Bitcoin in a convenient and discounted trading experience to pay for more than 20,000 flights. The airline’s president, Zhang Gangwei, explained that his company has “a bright vision for the future of cryptocurrency” as it proved to be “a significant transaction tool” over the past year.
