We have prepared a brief overview of the most important news for this week.
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News 20.01. – 26.01.20
State cryptocurrencies , Stablecoins
Crypto exchanges / Banks
Blockchain / Technology
- The Singapore government has formed an alliance with companies like Mitsubishi and Mastercard for adopting digital technologies
News of the Week
South Korea is considering introducing a 20% income tax on cryptocurrencies
According to a report published in the local newspaper The Korea Times on January 20, the ministry reportedly ordered a review of the taxation of cryptocurrencies. The Korea Times quoted an anonymous official who reportedly said the ministry had not completed its plan, but noted that the government could impose a 20% tax on crypto revenue. The news on the proposed rate follows news earlier this month that South Korea is preparing a tax regime for profits from cryptocurrency trading.
Bitfinex now allows you to manage up to 100 accounts from one master account
Bitfinex has added a new feature to its platform that allows institutional merchants to create up to 100 subaccounts per master account. The “subaccount” function has been enabled due to increasing institutional demand, Bitfinex said and adding that it will allow users to deploy different business strategies simultaneously. Bitfinex is not the only one cryptoexchange that offers this feature. Binance offers up to 200 subaccounts from December 2018. Gemini also recently introduced this feature with an “unlimited” number of subaccounts.
Davos 2020: Updates from the World Economic Forum
- Shares are more expensive than ever since 2002, but the world business elite does not seem to care! Bitcoin and cryptocurrencies can be a solution to the transition from equities to a relatively new, unexplored market.
- Blackstone CEO says businesses need to deal with climate change.
- A week after the US and China reached a ceasefire in their trade war, they blamed themselves on the world scene this week. European politicians say they are ready to defend and retaliate against any US tariffs after President Trump announced a new trade war against Europe in his global fight for trade. Bitcoin reacted massively this week, losing nearly $ 1,000.
- Italy and Britain will face US tariffs if they continue taxing digital companies such as Google and Facebook, US Treasury Secretary Steven Mnuchin warned.