Blockchain 

Token Taxonomy Act Includes De Minimis Tax Exemption for Crypto

The recently reintroduced Token Taxonomy Act (TTA) will create a de minimis tax exemption for crypto transactions under $600, according to the executive director of Coin Center, Jerry Brito, at Consensus 2019 on May 13. The de minimis tax exemption stipulates that if a crypto owner experiences a capital gain up to $600 of crypto, then that owner is not required to report the gain to the Internal Revenue Service (IRS), the United States’ tax authority. Brito notes that this situation parallels how small gains on foreign currencies were treated…

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Blockchain 

Samsung SDS Includes Blockchain Within Digital Transformation Framework

The president and CEO of Samsung SDS — an IT and consultancy subsidiary of the South Korean tech conglomerate Samsung Group — has revealed the firm is including blockchain as one of the key technologies for its “Digital Transformation Network.” The development was revealed during president and CEO Hong Yuan Zhen’s keynote speech at Samsung’s Real 2019 event in Seoul on May 8. In a press release accompanying the event, Samsung outlined that its Digital Transformation Framework aims to leverage technological solutions in support of digital innovation for sectors such…

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Bitcoin 

Central Bank of Korea Includes Research on CBDCs in Annual Report

South Korea’s central bank has included a summary of research on central bank digital currencies (CBDC) in its 2018 annual payment settlement report issued Tuesday, March 26. The development of distributed ledger technologies (DLT) and crypto assets has fueled a debate over CBDCs, especially after Uruguay and Tunisia issued their own, the report reads. The Korean central bank had also conducted its own research on CBDCs while it was considering launching one earlier in 2018 — an idea that was later put aside. The report included tests of blockchain-based solutions:…

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Blockchain 

Swiss Blockchain Hackathon in June Includes Partnerships With PwC, Amazon Web Services

Switzerland will host the Swiss Blockchain Hackathon later this year in a bid to help companies find real-life applications of blockchain technology, according to an announcement published on Feb. 27. The three-day event is reportedly organized by Switzerland’s six leading blockchain and IT organizations — Trust Square, Bitcoin Association Switzerland, CV Labs, Crypto Valley Association (CVA), Swiss Blockchain Federation and swissICT —  and will take place from June 21 to June 23, 2019. Per the announcement, the hackathon is designed to facilitate the deployment of blockchain across a wide range…

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Blockchain 

New Samsung Galaxy S10 Includes Cryptocurrency Key Storage

The new Samsung smartphone, the Galaxy S10, will include storage for private cryptocurrency keys, according to an official press release on Feb. 20. Samsung announced the launch of its new phone today in Seoul, San Francisco and London, which includes the Samsung Knox function. Per the press release: “Galaxy S10 is built with defense-grade Samsung Knox, as well as a secure storage backed by hardware, which houses your private keys for blockchain-enabled mobile services.” Ahead of the S10’s release, rumors abounded regarding the phone’s possible configuration and support for cryptocurrency…

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Blockchain 

$20 Million Funding Round in Blockchain Firm Symbiont Includes Citigroup and Nasdaq

Citigroup and Nasdaq are among a group of firms investing $20 million dollars in Symbiont.io Inc, Bloomberg reports on Jan. 23. Other investors reportedly include Mike Novogratz’s crypto-focused merchant bank, Galaxy Digital Holdings. Symbiont’s blockchain and smart contract platform, Assembly, will be applied in capital markets. The offering purportedly allows financial institutions to share and verify data, and uses smart contracts to accelerate settlement times for syndicated loans and streamline mortgage bond markets. According to Bloomberg, Symbiont will use the funds to work on private equity, mortgages, data management, and…

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