Coinbase doesn't support UAHF

One of the biggest Bitcoin related company released official statementon potential Bitcoin hard fork
20 July 2017   2727
Bitcoin

First decentralized peer-to-peer payment network that is powered by its users with no central authority or middlemen.

Coinbase, one of the biggest Bitcoin related company, recently announced that it will not support the UAHF hadrfork, which leads to block enlarge. According to the official statement, the company will not support either a new block or associated coin, as they will be incompatible with the current version of bitcoin.

Due to this, the company recommends that customers who want to have access to a coin of new blockchain, withdraw their funds from Coinbase purse until July 31.

Also, Coinbase posted separate notice regarding possible hardfork.

Blockchain

Distributed database that is used to maintain a continuously growing list of records, called blocks.

Information in it recalls that the UAHF, including BitcoinABC, is designed to change the bitcoin protocol by creating a new version of software that will run on its own blockchain.

Due to the incompatibility of the two versions of the blockchain, Coinbase notes that all users' bankrolls will be available only on the current version, and no conversion of BTC and UAHF coins will be made.

In its statement, Coinbase also talks about user-activated softfork (UASF). This proposal, although it offers a modification to the bitcoin protocol, adds new features, such as Segregated Witness, and will continue to use the current version of the blockchain.

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   132

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.