Dutch Bank to Release Cryptocurrency Wallet

Rabobank launched a website for a project called “Rabobit” which is going to develop into cryptocurrency wallet for safe storage of digital assets
28 February 2018   243

Rabobank is a Dutch multinational banking and financial services company headquartered in Utrecht, Netherlands, and a global leader in food and agriculture financing and sustainability-oriented banking. 

Presumably in the aftermath of the spreading trend of major banks, Rabobank refused to service Bitcoin businesses due to “compliance risks” in the beginning of February, 2018. Not long after that the reports started to appear that the bank was fined $369 million for money laundering.

Rabobit translated tweet of RabobankRabobank tweet regarding Rabobit translated from Dutch

Despite the allegations and bank's negative policy towards Bitcoin, it has emerged that Rabobank had launched a dedicated website for a project called “Rabobit,” which is going to develop into cryptocurrency wallet for safe storage of digital assets.

When twitter users asked Rabobank whether the website, which consists of only one page and a signup form, was genuine, the bank replied that the wallet had not been released yet, but it was in a development stage, and more information was forthcoming.

Crypto Taxpayers to be supported in India

Cleartax, the largest Indian tax filing platform joins Zebpay exchange to help crypto taxpayers
24 March 2018   102

The object of this partnership is to educate Bitcoin traders and investors about the current tax laws and how to apply them in stating cryptocurrency profits and incomes. Indian authorities are aimed to find the best approach to Bitcoin and the other kinds of cryptocurrencies. The recent declarations of the regulators that new instructions would be accepted in a short time, have not been followed by real actions. So the attempts to enforce the control on this sphere have led to summaries that this task in not going to be simple at all. According to last month media reports, new frameworks and rules were waited by the end of March.

Though they failed to to introduce extensive regulations, the Indian authorities are focused to tapping into crypto earnings. In a previous month the Income Tax Department released notifications for thousands of cryptocurrency investors, as news.Bitcoin.com reported.

The Cryptocurrency Advisory Plan will help Indian bitcoin investors and traders in this year's tax campaign. The biggest tax filing platform Cleartax joins the Indian bitcoin exchanges and wallet providers Zebpay. They are both objected to support taxpayers to understand and abide by the law regarding taxation of the transactions with cryptocurrencies.

Cleartax declared it has the tax and technological expertise “to help people understand how bitcoin works”. Besides, the platform has started tax filing services for cryptocurrency investors. The Cleartax CEO and founder Archit Gupta claimed that together with Zebpay they are going to “simplify taxes for Indians”. The head of exchange at Zebpay, Nischint Sanghavi added that he believes the partnership with Cleartax will simplify tax planning for Zebpay`s customers.

In February about 100,000 cryptocurrency investors received tax notices from India`s Income Tax Department. Questionable dubious transactions, authorities investigated some of the cryptocurrency exchanges, and banks paused many of their accounts. Then the governmental pressure caused significant drop in trading volumes.

The authorities in Delhi have set a number of warnings against investing in BTC. Also the largest commercial banks have restricted severely the operations of local exchanges and individual cryptocurrency traders, even before any law demanding such measures is adopted.