Stock Brokerage App Robinhood Launches Crypto Trading

Robinhood, the stocks brokerage app, has begun today to enable access to BTC and ETH trading to its customers from 5 states  
22 February 2018   206

Today, users who pre-registered for Robinhood Crypto started receiving emails with invitations to participate in the trading of cryptocurrencies, stocks, and exchange-traded funds (ETFs) side-by-side on a single platform.

According to the company’s statement, the service will be available to users from California, Massachusetts, Missouri, Montana, and New Hampshire, though the company intends to expand into other states as it acquires more money transfer licenses, which are granted at the state level.

Over the past few weeks, we’ve been overwhelmed by the enthusiasm towards Robinhood Crypto and are excited to contribute to the cryptocurrency community in a meaningful way. With the release of Robinhood Crypto, we’re continuing our mission of making the financial system work for everyone, not just the wealthy.

The platform achieved 1 million pre-registrations for less than one week. Currently, it has 4 million users, who collectively have achieved more than $100 billion in transaction volume.

Robinhood Crypto supports Bitcoin and Ethereum trading, although users can monitor and track market data for 16 cryptocurrencies, indicating that the company intends to expand it crypto asset offerings in the future.

Robinhood will not charge commission on crypto trading,  though prices will include trading fees charged by the underlying exchanges.

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 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.