Circle Invest Launches ZCash

Circle Invest now supports Bitcoin, Bitcoin Cash, Etherium, Etherium Classic and Litecoin and ZCash
01 May 2018   1478

At the beginning of March we have reported that Circle launched Circle Invest in the US except for NY, MN, HI and WY and released an app to allow users instantly buy and sell cryptocurrency without any fees. Now the app is available in almost every state in the US, including New York. 

Circle Invest previously supported only Bitcoin, Bitcoin Cash, Etherium, Etherium Classic and Litecoin. On April 30 Circle has announced that it also adds ZCash to the platform.

You will now be able to enjoy instant purchases, no minimums and a seamless investing experience on Zcash and our five existing crypto assets. 
 

Circle Announcement

What is more, Circle team has stated that the mission for Circle Invest is to democratize access to investing in crypto assets for every consumer, making the wider breadth of assets available on Circle Invest.

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   188

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.