Crypto Taxable – Ripple and xRapid – Korean Crypto Exchanges Bankrupt – Dark Web Admitted Crypto Usage

By dan saada August 21, 2019 Off

The Fundamental Crypto Asset Score for Ripple (FCAS) has climbed to 3.61% over the past 30 days.  The user activity for the coin has been constant; however, the market maturity measure fell by 1.72%, and the price tumbled by 16.84% during the same period of time.

Market Maturity refers to the market situation of the token, thereby establishing a likelihood that the cryptocurrency will bring in consistent returns across various market scenarios depending upon various factors like liquidity and price volatility.

Sophisticated retail investors look into the FCAS (Fundamental Crypto Asset Score) using the Fundamental Crypto Asset Score Tracker providing the retail investors with a top-down approach in tracking nearly 500+ cryptocurrency fundamentals.

High profile partnerships are likely to emerge from Ripple Labs as Ripple Labs are trying to bring in a lot of institutional clients who are not comfortable with crypto volatility to sign up for xCurrent to further move them to xRapid overtime.  The company is actively developing the promotion and adoption of XRapid solution.

Business Korea reported that only companies in the top 100 list are safe from bankruptcy.  Low trading volume is cited to be the primary reason why several South Korean cryptocurrency exchanges had to file for bankruptcy.

Sky Justin Gornik who has pleaded guilty recently admitted that he tried to launder drug proceeds by making use of cryptocurrencies, which he held in Poloniex and Bittrex by using different screen names.

AUSA Sherri Hobson and the multi-agency team cracked through “multiple levels of anonymity mazes to uncover the true nature and extent of Gornik’s drug dealing and money laundering.” Per US Attorney Robert S. Brewer, Jr.

for “cracking through multiple levels of anonymity mazes to uncover the true nature and extent of Gornik’s drug dealing and money laundering.”

When it comes to getting paid using an unstable asset type, most people would not desire happening. However, several cryptocurrency industry workers are now choosing to get paid using the cryptocurrency. This led to several cryptocurrency enthusiasts in New Zealand to celebrate the announcement by the New Zealand tax authority which permitted the payment of salaries using crypto alternatives.

From the tax authority’s perspective, what might matter is how several exotic types of payments are taxed. Just like the UK authorities did in 2018, the New Zealand authorities have as well determined that crypto-assets should be treated as regular money income if employees can sell them, whether freely exchangeable or pegged to conventional currencies.