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One Stop Cryptocurrency News Cast For April 20th 2020 ?

Image Source | Pixabay.Com

๐Ÿ“ฎ 20-04-2020

๐Ÿ“ˆMarketCap:                  $200  B
๐Ÿ“Š24h Mcap %:                 -3.67%
⚠️Bitcoin Dom:                 63.40%

๐Ÿ“ŒActive Coins:                 3,005
๐Ÿ“24h Vol %:                      4.69%
๐Ÿ’ฒ24h Vol:                         $137 B

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1. Crypto Subreddit Hits Million-Subscriber Milestone With Bitcoin Giveaway
The landmark occasion for the subreddit took seven years, and it still lags behind r/Bitcoin. It’s running a competition to celebrate. The prime subreddit for cryptocurrency memes, guerrilla reporting and price speculation, r/CryptoCurrency, today surpassed 1 million subscribers, making it the 299th most popular subreddit on the 14-year-old social network site. To celebrate the landmark occasion /CryptoCurrency is giving away close to 1.5 million satoshis. The competition will run until the end of April 22. Read Full on Decrypt.

2. IOTA Coordicide Aims to Scale 1,000 TPS
Darcy Camargo, a member of the IOTA research team, noted the next step in IOTA’s journey toward becoming fully decentralized is to kill the Coordinator. He told, transition from the Coordinator to the fabled Coordicide will essentially allow the IOTA Foundation to work from scratch to make the network fast, secure, scalable, and fully decentralized. He added that the Coordicide’s initial target will be to scale up to 1,000 TPS, while eventually the Coordicide will practically be able to scale unlimited in the long-term. Read Full on BTCMANAGER.

3. Singapore New Tax Guidance Exempts Miners From Tax
The Inland Revenue Authority of Singapore, or IRAS, issued updated tax guidance for digital tokens on April 17. The guidelines concern payment tokens, utility tokens, security tokens, and tokens issued through initial coin offerings, or ICOs. Fluctuations in the value tokens held by miners, ICO issuers, businesses, and individuals are not taxable or deductible unless realized. Miners may perform mining as a hobby or to hold the tokens mined as a long-term investment. If so, the disposal gains/ losses of the payment tokens are not taxable. Read Full on cointelegraph.

4. Binance Completes 11th BNB Burn,Erasing 10% of BNB's supply
According to Binance’s official announcement, the exchange was able to burn $52.5 million worth of BNB in its 11th quarterly burn, a 35.2% increase from $38.8 million in Q4 of 2019. Binance burns more BNB tokens if there is more trading volume on the Exchange. Binance Claims despite the recent Coronavirus pandemic, Binance still managed to see higher trading volumes and user visits. According to Binance, the exchange is seeing 5x more traffic. Read Full on theblockcrypto.

5. Central Bank Of China Explains Digital Yuan
The People's Bank of China responded with an official explanation of the proposed digital Yuan and how it would work. The bank has completed the top layer of design, with the digital currency adopting a two-layer architecture and two-tier delivery system. If the payment functions of online banking and payment platforms were to go down due to poor network signals, Digital Yuan will work as effectively as the paper Yuan. They claim Digital Yuan is not tied to any bank account and is free from the control of the traditional banking system. Read Full on cointelegraph.

6. Singapore Won't Tax Airdrops or Hard Forks Under New Crypto Guidance
Singapore’s taxation authority has clarified how it taxes the transaction of payment, utility and security tokens. They will not take a cut of airdropped crypto as the recipient gets it for free. IRAS’ guide considers payment tokens such as bitcoin to be “intangible property” instead of legal tender. If a consumer pays in bitcoin he is engaging in “barter trade” for which the goods and services are taxed, not the payment token itself. The same goes for businesses who can presumably value their goods’ tax burden against government-issued money metrics. Read Full on CoinDesk.

7. BitMEX Donates $2.5M for COVID-19 Relief Fund
Crypto derivatives exchange BitMEX has become the latest industry actor to join philanthropic efforts to fight the COVID-19 global health crisis. The exchange’s operator, HDR Global Trading, made the contribution of a total $2.5 million in grants to four recipients. Following a consultation with a philanthropic advisory group, HDR Global Trading has chosen to donate to the two Gates Philanthropy Partners COVID-19 Funds, the Biosecurity program at the Nuclear Threat Initiative, OpenMined, and Our World in Data. Read Full on cointelegraph.

8. Anthony Pompliano Says Macro Economic Fallout Will Likely Push Bitcoin Higher
In a new interview on Tech with Catalina, Anthony Pompliano told, the Bitcoin is on the verge of a new long-term 1,288% bull run that will bring Bitcoin from its current price of about $7,200 to $100,000. He says the macro-economic backdrop along with the much-anticipated halving event in May, which will reduce Bitcoin’s new supply by half, will likely fuel a major rally. He believes that massive money printing by central banks around the world will drive people to invest in assets that remain scarce and offer inherent anti-inflationary properties. Read Full on The Daily Hodl.

9. Hong Kong Launched First Regulated Bitcoin Fund
Arrano Capital, the blockchain arm of Hong Kong-based asset manager Venture Smart Asia Limited, has launched the country’s first regulated bitcoin fund based on the market demand received from professional investors who are increasingly focused on Bitcoin as an alternative store of value. Arrano Capital said the fund, which tracks bitcoin’s price, provides institutional investors access to bitcoin through a traditional fund structure. The fund is reportedly eyeing $100 million in total assets under management within the first year. Read Full on The Block.

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