Bitfinex to support the Onward EOS Mainnet Token Swap

EOS.io, blockchain set to enable vertical and horizontal scaling of decentralized apps, gains support from a full-function trading platform Bitfinex
19 April 2018   2181

The promotion is necessary for major digital assets and cryptocurrencies, including Bitcoin, Ethereum, EOS, Litecoin, Ripple, NEO, Monero and many more. Bitfinex suggests margin trading via a peer-to-peer funding market, that lets users to trade safely with up to 3.3x leverage. Bitfinex statement supporting the upcoming EOS MainNet Token is impacted by the psychology of the cryptocurrency- world’s investors and Block.one, the founder of the technology has spoken a great deal about how EOS will change the world.

With the release of EOS.IO, everything will be better, faster and cheaper, everything will be more connected, everything will be more trustworthy, everything will be more secure, everything that exists is no longer going to exist in the way it does today, everything in this world is about to get better.
Brock Pierce, partner, Block.one

Block.one has confirmed this statement by the credibility of their CTO, Daniel Larimer, who has previously established and deployed two of the most used decentralized applications to date. the developer worked on the Bitcoin technology in the initial stages and did not think it would perform adequately. Daniel developed a extensible highly efficient Blockchain architecture, now widely known as Delegated Proof of Stake [DPOS]; today DPOS operates the majority of all blockchain transactions globally.

Bitfinex aid for the EOS MainNet token would promote the following advantages to the exchange – As EOS transitions from Ethereum to its MainNet chain, it will let  them to manage all technical demands related to the swap to guarantee a smooth token registration process for all users storing EOS on Bitfinex.

Bitfinex EOS MainNet Token Swap is stated to take place in June (more details will be  accessible at the start of June).

Israeli BTC Investors to Face Catch 22

They need to pay taxes from Bitcoin investing in order to avoid their property arrest, but banks don't take their money due to AML issues
06 August 2019   148

Bitcoin investors in Israel are faced with the impossibility of paying taxes, as local banks refuse to accept funds received from the sale of cryptocurrencies because of the risks of money laundering and terrorist financing. About this writes the local edition of Haaretz on August 6.

Bitcoin is not recognized as a currency in Israel, therefore, individuals must pay 25% of the income from cryptocurrency trading to the treasury, and legal entities - 47%.

Investor Ron Gross told the publication that he acquired bitcoins in 2011 and reported his income to the tax office. In 2017, the bank that served Gross began to refuse to accept funds received from the sale of bitcoins. The investor met with representatives of the bank to demonstrate to them a 70-page history of bitcoin transactions as confirmation of the origin of the funds, but failed to convince them.

The tax authority is aware of the problem, but they say the ball isn’t in their courts. I’ve tried working with almost all the banks, but the minute they hear the word ‘Bitcoin’ they freeze up.
 

Ron Gross

Bitcoin investor from Israel

 

Since Gross was unable to pay taxes on time, his bank account, home, and even scooters were arrested. According to the investor, the tax authorities know about the problem, but can do nothing.

According to Haaretz, the tax office is aware of $ 86 million in unpaid taxes on income from cryptocurrency trading. It is possible that the real amount may be significantly higher.

Roy Arav, another Bitcoin investor, kept the proceeds from trading Bitcoin in an account with Israeli bank Discount under the control of the Bit2C exchange. The bank refuses to transfer money to Arava’s personal account under the pretext that its politicians forbid it to transfer funds related to virtual assets to client accounts due to the risks of money laundering and terrorist financing.

Arav also could not pay taxes and was forced to sue the bank. According to the investor, the authorities entered his position and granted him a deferral of time for the consideration of the claim.