Crypto Ups and Downs on 20 - 26 Mar

In this article we present the overview of the gainers and downers among cryptocurrencies with the highest market capitalization during the week on March 20 - 26 of 2018
26 March 2018   1535

From this article you will learn about the most unpredictable ups and downs of cryptocurrencies. We have analyzed the crypto market, and researched the most popular tokens and coins with market capitalization over $1M. In the charts below you can find all relevant information regarding the leaders of growth and fall during past 7 days.

This week the list of cryptocurrencies looks much better than last week, as the coins are rising notably. Some of the coins managed to even double in price, for instance Storm, which rose 147.38% within past 7 days. Veritaseum is also rising, it increased 77.24%, having its market capitalization grown from $217 million on March 20 to $381 million on March 26. ICON, Loopring and IOStoken also had a pretty successful week as they all rose more than 50%.

The Biggest Gainers

Name Market
  Cap
Price 
in $
Volume
 (24h)
Change %
(7 days)
ICON 1 252 086 385 3,24  96 678 300 + 55.37
Veritaseum 381 995 255  187,56 560 958 + 77.24
Loopring 259 214 758 0,453114 3 559 270 + 56.05
IOStoken 220 183 320 0,026212 72 934 200 + 55.45
Storm 191 302 305 0,046786 336 633 000 + 147.38

However, past week was not so fortunate for some of the cryptocurrencies. A lot of coins and tokens fell down in price and market capitalization, losing popularity among the users.

The Greatest Downers

Name Market
  Cap
Price 
in $
Volume
 (24h)
Change %
(7 days)
Electroneum 178 009 156 0,027255 1 398 99 - 18.53
SmartCash 93 346 529 0,112884 94 943 - 28.35
LeadCoin 18 392 523 0,023448 4 892 020 - 67.18
Storiqa 18 283 013 0,002354 112 282 - 32.28
ZClassic 16 399 212 4,56 438 731 - 25.39

The greatest downer of this week is LeadCoin, which has shown a downwards trend of 67.18%. Storiqa fell 32.28%, having its price decreased from $0,003 to $0,002 within past 7 days. Moreover, SmartCash has also had a rather unsuccessful week, as it fell 28.35%, having its price drop from $0,15 to $0,10 from March 20 to 26. The market capitalization of ZClassic dropped from $22 to $16 million, while the market capitalization of Electroneum fell down from $229 million to $177 million.

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   135

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.