Op Ed: Bitcoin Compensation Compliance: Navigating Murky Waters

Far from its humble origins on the cypherpunk list server, Bitcoin now captures the attention of the general public on a seemingly daily basis. Prominent news outlets, once waffling between indifference and hostility, regularly feature the trailblazing cryptocurrency as part of their coverage of the global financial landscape. As time passes, an ever-increasing segment of the population — often entirely removed from Bitcoin’s familiar niche of computer scientists, mathematicians and coders — find themselves asking the question: Can this really work? Small wonder, then, that another question further down the…

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Virginia Bitcoin Mining Operation Ordered to Liquidate Assets

BCause Mining, a Bitcoin mining operation in the city of Virginia Beach was ordered to liquidate its assets and shut down its operations. BCause Mining, a Bitcoin (BTC) mining operation in the city of Virginia Beach in the United States, was ordered to liquidate its assets.  In an Oct. 9 article, local news outlet the Virginian-Pilot reported that the Bitcoin mining company filed for bankruptcy earlier this year. This week, a federal judge approved the motion to convert the filing from a reorganization to a chapter 7 liquidation. BCause Mining…

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Over 200 Venezuelan Taxis Discover the Benefits of Bitcoin Cash

A man named Oscar Salas recently spoke about his quest to spread bitcoin cash (BCH) adoption on episode 34 of the Bitcoin Cast show. Salas explained in great detail how he is a passionate BCH supporter and the organizer of the Maracaibo city BCH meetup. Following his interview a few days later, Salas and his partners showed the benefits of bitcoin cash to an audience of over 200 taxi cab drivers that operate in Maracaibo city. Also read: Bitcoin Cash Settles More Value Than ETH in Dollars Moved Bitcoin Cash…

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BitGo to Provide Custody for Crypto Assets Under Bitstamp Management

Digital asset financial services firm BitGo will offer secure storage for digital assets under the management of crypto exchange Bitstamp. Digital asset financial services firm BitGo will provide secure storage for crypto assets under management at major cryptocurrency exchange Bitstamp. $100 million insurance policy In a press release on Oct. 9, the Luxembourg-based cryptocurrency exchange announced that BitGo will offer custodianship of its digital assets. The Bitcoin (BTC) exchange will start transferring assets to BitGo’s wallets on Oct. 10, 2019. Bitstamp CTO, David Osojnik, said: “BitGo has been one of…

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US Senators Warn Three Libra Backers of Membership Risks

A letter tells Visa, Mastercard and Stripe that they “should be concerned” about the implications of supporting Facebook’s Libra nodes. Three backers thought to be reconsidering their involvement in Facebook’s digital currency Libra have received warnings from the United States politicians over their participation. Senate letter: Facebook’s problems are your problems According to a Bloomberg article published on Oct. 9, a letter to Visa, Mastercard and Stripe was sent by two U.S. senators. In it, they are reportedly pressuring the three payment giants to look closer at the regulatory implications of Libra. The…

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US SEC Rejects Bitwise Bitcoin ETF Proposal

The United States SEC has rejected a proposal for a Bitcoin ETF from Bitwise Asset Management and NYSE Arca. The United States Securities and Exchange Commission (SEC) has rejected a proposal to list a Bitcoin (BTC) exchange-traded fund (ETF). In an announcement on Oct. 9, the Commission stated that the ETF filing from Bitwise Asset Management and NYSE Arca did not meet the necessary requirements.  Specifically, regulators stated that the applicants did not meet the necessary requirements regarding possible market manipulation and illicit activities. The SEC wrote: “Rather, theCommission is disapproving this…

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Bitcoin Price Rallies to Touch $8,600 While Altcoins Follow

Bitcoin has rallied to touch $8,600, while major altcoins follow in its wake; Chainlink is seeing daily gains of almost 14%. Wednesday, Oct. 9 — Bitcoin (BTC) continues its rebound, jumping $400 in a few hours, while altcoins rally in sync with BTC. Cryptocurrency market daily overview. Source: Coin360 The world’s most popular crypto coin rallied from an intraday low of around $8,200 up to its current trading price near $8,600, showing impressive gains of over 5% in the past 24 hours, while a vast majority of the top 100…

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Report: Blockchain Among Highest-Paying Industries in Canada

A report from the Canadian Digital Chamber of Commerce shows that salaries in the Canadian blockchain industry are among the best paid in the country. A recent report from the Canadian Digital Chamber of Commerce shows that salaries in the Canadian blockchain industry are amongst the highest in the country. Much needed legal clarity The Chamber of Digital Commerce Canada released its October report on the country’s blockchain ecosystem, showing insights into the health of the industry, current strengths and legal needs throughout Canada. The report collected data from more…

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Bitmain Announces Two New ASIC Cryptocurrency Mining Rigs

Jihan Wu, co-founder of leading ASIC miner producer Bitmain, announced two new series 17 Bitcoin mining machines. Leading Application Specific Integrated Circuit (ASIC) producer Bitmain announced two new series 17 Bitcoin (BTC) mining machines in a blog post published on Oct. 9. Bitmain: higher efficiency and hashrate Bitmain co-founder Jihan Wu announced the S17+ and T17+ mining machines at the World Digital Mining Summit (WDMS) in Frankfurt. Bitmain claims that the new ASICs feature improvements to power efficiency and hashrate. The post states that the new hardware is capable of…

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Sean Walsh: Cryptocurrencies Can Harness More Human Energy

Bitcoin scores high in terms of ‘moneyness’ compared to other forms of money as it has some technical advantages and social inertia. In an interview with Bitcoin.com’s Humans of Bitcoin podcast, brilliant contrarian thinker Sean Walsh shared his opinion about cryptocurrencies and their place within the global financial system. The crypto investor believes decentralized digital money can utilize a greater percentage of human energy and help return our civilization to a more sustainable equilibrium. Also read: Why Bitcoin Is Better Than Banks: Major Credit Card Breach Exposes 60M Accounts Bitcoin…

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