CEO of Under Fire Brazilian Firm Owns 25,000 Bitcoin

-
The CEO of Brazilian cryptocurrency firm Grupo Bitcoin Banco has claimed 25,000 Bitcoins (BTC) — a staggering $209 million as of press time — on a tax filing, while also saying his firm is unable to pay out customer funds as the result of a hack.The tax document was shared with Cointelegraph by an individual close to Brazil’s tax authority, the Department of Federal Revenue (RFB), who asked to remain anonymous for security reasons. According to the document, the exchange’s CEO, Claudio Oliveira,claimed his crypto holdings in a 2018 filing with the RFB. Although the document is genuine, it is not possible to know if the numbers reported are accurate or the most current, due to tax filings in Brazil being self-reported.   Read more
Location: Indore, India

Comments

Post a Comment

Popular posts from this blog

Ethereum (ETH) Forming Bearish Pattern, $186 Hold Key | Buy ethereum with fiat currency

-
Image
Ethereum cost is battling to move over the $192 and $195 protections against the US Dollar.It appears to be a head and shoulders design framing with help close the $188 and $186 levels.This week's key bullish pattern line is flawless with help close $188 on the hourly outline of ETH/USD (information feed by means of Kraken).Bitcoin is as yet confronting a great deal of obstacles close the $9,400 and $9,500 obstruction levels.Recently, there was a respectable ascent to buy ethereum with fiat currency over the $188 and $190 opposition levels against the US Dollar. In addition, ETH cost exchanged over the $192 obstruction zone and settled over the 100 hourly straightforward moving average.However, the value confronted a solid opposition close the $195 level and a high was framed close $195. There was a descending move from the $195 and the value exchanged beneath the $190 level.  Read more
Read more

Bitcoin a decentralized cryptocurrency

-
Image
To cut through some of the confusion surrounding bitcoin, we need to separate it into two components. On the one hand, you have bitcoin-the-token, a snippet of code that represents ownership of a digital concept – sort of like a virtual IOU. On the other hand, you have bitcoin-the-protocol, a distributed network that maintains a ledger of balances of bitcoin-the-token. Both are referred to as “bitcoin.” The system enables payments to be sent between users without passing through a central authority, such as a bank or payment gateway. It is created and held electronically. Bitcoins aren’t printed, like dollars or euros – they’re produced by computers all around the world, using free software. Read more  
Read more

British Tax Authority Updates Cryptocurrency Guidelines, says it is not money.

-
Image
The United Kingdom’s tax, payments and customs authority, Her Majesty’s Revenue and Customs (HMRC), has updated its cryptocurrency taxation guidelines for businesses and individuals. On Nov. 1, the U.K. government tax agency, which manages taxes alongside other financial policies, released tax guidance updates that further clarify its stance on how to buy bitcoin online   and buy erc20 tokens  involved with cryptocurrency will be taxed.   The guidelines set out HMRC’s view on cryptocurrency transactions, which taxes apply, how to file tax returns and accounting practices, among others. It also considers the taxation of exchange tokens, while stating that rules for utility or security tokens will be added in the future. Companies that buy or sell best erc20tokens online, mine, exchange tokens for other assets or provide goods or services in return for tokens are liable to pay for one or more different types of tax. Read more  
Read more