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North America Cryptocurrency News Roundup 19-26 April 2018

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written by

Talha Dar

BITCOIN NEWS,
April 26, 2018

Welcome to another cryptocurrency news roundup. This week we will present the latest news from across the world country by country. Next is North America.

Canada

Cloud Computing Company SalesForce is Among 12 New Members to Join Blockchain Research Institute in Canada

Blockchain Research Institute (BRI) based in Canada has recently announced that it has added 12 new organizations as members. The Institute is dedicated to research in Blockchain strategies including obstacles to implementation and application to real world problems. Major tech companies and fintech players have backed the new initiative including Microsoft, IBM, Bank of Canada and even Pepsico.

According to Peter Shwartz, Senior Vice President of Salesforce:

“Hello! Welcome to another cryptocurrency news roundup. This week we will present the latest news from across the world country by country. First is Africa”

Cryptocurrency Taxation in Canada

Canada has announced cryptocurrency related gain taxes to its crypto community. There were millions and millions of dollars earned in 2017 alone and stashing it outside may not be a good idea according to Canada Revenue Agency and accountants of repute. A complete guide was published by CBC to help Canadians understand more about their cryptocurrency taxes.

USA

NASDAQ CEO Says that the company may be Open to becoming a Cryptocurrency Exchange

NASDAQ, one of the biggest institutional investors in the world has raised the possibility of becoming a cryptocurrency trading platform. CEO Adena Friedman told CNBC in an interview that trading cryptocurrencies could be a possibility once the space “matures” a little bit.

She said in the interview:

Nasdaq is open to becoming cryptocurrency exchange over time. If we do look at it and say ‘it’s time, people are ready for a more regulated market’ for something something that provides a fair experience to the investors”.

Survey Shows 27% of Millenials would Choose Bitcoin Trading over Traditional Trading Options

In a recent survey by the Blockchain Capital, it was found that more than a quarter of millenials would prefer to invest $1,000 in bitcoin rather than traditional stocks. Also, more than 22% would prefer cryptocurrencies over real estate while 30% would prefer it over government bonds.

More than 2,000 American adults participated in the survey and similar trends have been found in other researches.

Arizona House Committee Passes Bill to Allow Taxes Payment in Cryptocurrencies

In a major boost for the residents of Arizona, Rules committee in Arizona House of Representatives has passed a bill allowing residents of the state to pay taxes in Bitcoin and other major cryptocurrencies.

The bill was approved initially in the first of three rigorous required readings at the Arizona State Senate on Feb 8, 2018 after House Ways and Means Committee approved it last month. The final bill will have to pass the Senate floor to be enforced.

Notable amendments were done to the bill including expanding the cryptocurrencies in which payment was possible to include Litecoin and other “recognized” cryptocurrencies.

California Legislators Are Looking to Welcome Blockchain

California legislators are finally coming around to push through legislation that would allow Blockchain technology to be used in a variety of applications including formal documentation specifically corporations’ articles of incorporation.

The Bill named SB 828 was present to the Senate Banking and Financial Institutions Committee at the end of last week and was authored by Bob Hertzberg. It is meant to provide cryptography-secured issuance and transfer of corporate share certificates which would be stored on the Blockchain.

Senator Hertzberg told reporters:

“The world around us is changing, and government must adapt to these rapidly evolving times. California needs to continue our legacy of taking on new and developing technologies, especially ones like blockchain, which is being embraced worldwide and presents a strong level of security that is resistant to hacking,”

Former JP Morgan Banker Compares Cryptocurrency to Financial Revolution

Ex-chief of JP Morgan’s Global Energy Trading Desk Daniel Masters has come out and supported cryptocurrency. He likened the idea of distributed ledger technology and democratization of P2P transaction with a revolution in finance.

Masters was criticizing the so-called fractional reserve monetary system where bank’s actual deposits aren’t matched by assets. He is of the opinion that cryptocurrencies don’t show this trait as of yet and that is why there is a huge potential for cryptocurrencies in the future.

Harvard Students Announce Crypto Hedge Fund

Harvard University students are always in the thick of things and four of them have recently launched their own cryptocurrency hedge fund called Plympton Capital. Plympton Capital has set a target of $1 million and have already raised 700 from close contacts. Bushra Hamid is the tam lead for Plympton and she is joined by Scott Sussex, Omar Sorour and Junaid Zubair.

New York’s Likely Fed Reserve President Admits Crypto Bias

John Williams is widely expected to be the next president of the New York Federal Reserve and he has recently admitted that he doesn’t like cryptocurrencies and that it “doesn’t pass the basic test of what a currency should be”.

The obvious bias was reported in a speech:

“The setup or institutional arrangement around Bitcoin and other cryptocurrencies, first of all, they have problems with fraud, problems with money laundering, terror financing. There’s lots of problems there… The idea of the supply of currency and thinking about currency really belongs more in the sphere of government and central banks…”

Considering the New York Federal Reserve bank is the largest in the country due to the presence of stock exchanges, this is not be good news for the investors operating from there.

Help spread this article :)

Talha Dar

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