Bitcoin News

IRS Seeking Data From Tech Firms on User Cryptocurrency Activity

According to a recently leaked presentation, the Internal Revenue Service (IRS) is looking to force big tech firms to provide them with information on user cryptocurrency activity. IRS is allegedly looking into contacting firms such as Google, Apple, and Microsoft and looking for information about user downloads of cryptocurrency applications, particularly with regard to use of Bitcoin. The purpose of the IRS’ actions is to search for instances of potential tax evasion with regard to people concealing the gains [...]

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Crypto Mining Malware Now Spreading to Android

If it weren’t bad enough that crypto mining malware was targeting computers, new evidence has demonstrated that similar malware is now targeting Android smartphones. The software takes advantage of features within Android that are used to resolve defects in apps, and can replicate itself easily. While the malware is thus far centered in South Korea, it has spread to 21 different countries. The purpose of the malware is to create an enormous botnet of infected devices and harness their computing [...]

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Coinbase to Expand Cryptocurrency Debit Card Across Europe

Building on the implementation of its cryptocurrency debit card in the UK, US-based cryptocurrency exchange Coinbase is expanding the issuance of that card to more countries in Europe. Now consumers in Spain, Germany, France, Italy, Ireland, and the Netherlands will be able to use the Coinbase VISA debit card. The card allows consumers to spend their cryptocurrency holdings anywhere that VISA credit or debit cards are accepted. Users can choose to spend Bitcoin, Litecoin, and Ethereum, among others. The [...]

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Will Libra Backlash Mean the End of Cryptocurrency?

Facebook’s leap into the cryptocurrency sphere was met with applause by many market analysts and observers, but with great skepticism by both cryptocurrency enthusiasts and governments. Cryptocurrency enthusiasts distrust Facebook’s goals for its Libra cryptocurrency, and don’t believe that the company will hold true to many of the claims it makes about user privacy and the company’s transparency. And governments are skeptical about the social media behemoth’s attempt to leverage its online user base in order to create its [...]

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Bitcoin Passes 1 Million Daily Active Addresses

One of the key factors behind judging Bitcoin’s continued popularity is the number of addresses that are active in using or trading Bitcoin. Today that number stands at over one million, a figure that was first reached in November 2017 but that hasn’t been broached since then. That’s nearly double the number of daily active users at the beginning of 2019, which is a good sign that Bitcoin’s popularity is increasing. Figures on Bitcoin’s daily active users have been rising [...]

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Facebook’s New Libra Project: Will It Live Up to the Hype?

After months of planning and speculation, Facebook has finally announced its Libra cryptocurrency project. With a host of major corporations joining in the project, many mainstream analysts are hailing the new project as groundbreaking. But many in the cryptocurrency community are casting doubt on Facebook’s efforts. So will Libra end up being a world-changing currency or just more of the same old, same old from Facebook? Technical details on Libra are still somewhat sparse. We know that the servers that [...]

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Bitcoin Shows Renewed Popularity in Google Searches

After the great cryptocurrency crash of early 2018, many pundits claimed that that was the end for Bitcoin and other cryptocurrencies. Falling from a high of near $20,000 in late 2017 to about $6,000 by mid-2018, Bitcoin’s popularity took a nosedive as well. For the next several months Bitcoin was in a rut, failing to break through any previous highs, and even falling below $4,000 at one point. But after months below $4,000, Bitcoin finally went on a run recently, [...]

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IRS to Issue New Cryptocurrency Tax Guidance

Bitcoin and other cryptocurrencies may have made great gains over the past few years, but just because they’re new technologies doesn’t mean that investors are exempt from paying taxes on their gains. However investors still lack certainty on many of the tax ramifications of various cryptocurrency transactions. Aside from a single document in 2014 stating that investors owed taxes on their gains, Bitcoin investors have largely been left in the dark. But that may change soon as the Internal [...]

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You Can Now Pay for Your Whole Foods Grocery Bill With Bitcoin

The major obstacle to the adoption of any new currency is consumers wondering what they can buy with it. It was no different with Bitcoin once the cryptocurrency began to rise in popularity. While some online retailers have accepted Bitcoin as a payment for years, and Bitcoin point of sale systems have been around for a while, mainstream adoption of Bitcoin as a payment method has been slow to develop. But now a new app may make it easier [...]

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More and More Institutional Investors Gaining Exposure to Cryptocurrencies

One of the key aspects to Bitcoin and other cryptocurrencies gaining traction is their use by more and more people. The more people understand and use Bitcoin, the greater the network effects and the greater the benefit to subsequent users. And the more people use or invest in Bitcoin, the larger the user base to militate against any regulatory attempts to crack down on Bitcoin. So every piece of news that Bitcoin is gaining greater adoption means that the [...]

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