Why Ukraine Is Ripe for Cryptocurrency Adoption – CoinDesk

why ukraine is ripe for cryptocurrency adoption – coindesk


Ukraine, a small Eastern European country in the midst of war, is embracing cryptocurrency.
A relatively unstable state – with a technically sophisticated population – creates a fertile ground for crypto adoption. Now, regulators are working with Ukraine’s crypto entrepreneurs to decide the future of digital currency. 
Gleb Naumenko, a prominent Bitcoin developer from Ukraine who recently got a $100,000 grant from BitMEX, puts it this way: “Our political situation is somewhat unstable, and Ukrainians are tech-savvy, so this combination creates incentives for people fleeing from fiat to crypto.”
Since Soviet times, Ukraine has been a hotspot for science and engineering. When people see the national currency losing value, they are keen to explore the options technology can offer, Naumenko said.
Ukraine is the birthplace to teams that founded crypto startups Bitfury, Hacken and Propy, not to mention numerous crypto developers. While many of these developers are now based abroad, the country is still a competitive jurisdiction for crypto startups, believes Alex Bornyakov, the deputy minister for digital transformation of Ukraine. 
Prep workIn late April, the country started monitoring crypto transactions for suspicious activities. The government has also requested that Ukrainians report their crypto gains for tax purposes. 
Ukraine is now in …



Russia’s New Legislation Renews Old Cryptocurrency Debates | Geopolitical Monitor

russia’s new legislation renews old cryptocurrency debates | geopolitical monitor


Cryptocurrencies have introduced a novel alternative to exchange commodities and services, moving away from government-backed fiat money. These virtual currencies have been a cause for concern and timely attention by several countries following their debut through Satoshi Nakomoto’s seminal work, ‘A Peer-to-Peer Electronic Cash System’ in 2008. The cryptocurrency space has evolved further complications since private players, such as the social media giant, Facebook, introduced the Libra cryptocurrency in 2019, challenging the global financial industry. While countries around the world are striving to legislate and regulate the use of cryptocurrencies, the United Nations Children’s Fund, recognizing the advantages of cryptocurrencies, has announced its highest crypto investment to fund start-ups in developing and emerging economies. These investments would considerably benefit the work being done in these countries, especially those greatly affected by COVID-19. Meanwhile, Russian President Vladimir Putin on 31 July 2020 signed the first of many laws governing the transactions of digital financial assets within Russia, making it possible to transact using digital financial assets from early next year. However, to examine the significance of this legislation, it is crucial to understand the history surrounding the rollercoaster relationship between Russian regulators and the Russian crypto industry.

The Kremlin’s On-Again, Off-Again Relationship …


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7 Easy Ways to Earn Passive Income with Cryptocurrency | News Anyway

7 easy ways to earn passive income with cryptocurrency | news anyway


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Passive income may never make you a millionaire, but it will allow you to invest enough money in your monthly budget. By working with cryptocurrencies, you can relieve stress from pay check to pay check. In these digital currencies, one is expected to invest in a fixed income. In other words, it is not free at all, but it pays off all well. They require some remunerative capital and time when making investments, first of all, do research. We’ve provided some possible ways to increase your income here. You can visit crypto comeback pro  site to earn more profit

Lighting Network:

The system of this blockchain is created by two layers: the first application in which it is created from the user components and the second technology that works as an application in it. It applies to a second layer of the lightning network. The fees offered to this block awards through bitcoin which is a huge majority system is slow and complex.

Rent your Coins:

It sounds as simple as you think it is. Cryptocurrency is a property that you can rent to anyone for a specific interest. It can usually be used by trades as …


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All the Advantages of Cryptocurrency Globally as Digital Currency | News Anyway

all the advantages of cryptocurrency globally as digital currency | news anyway


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As socially its benefits many of us will be people who will be associated with bitcoin, you should be fully aware of all its benefits, but still, there are some people who are not aware of it. Cryptocurrency benefits that are very strong are bitcoin’s policymakers and its types that do not talk about their causes at all. When Satoshi Nakamoto first conceived this, he has mentioned it in explaining the social implications of bitcoin on his white paper. Some of us have forgotten that it can focus on investing and perspectives on the importance of cryptocurrency. In this article, we will talk about all experts stating some of its major social benefits and changes so that these bitcoin cryptocurrencies have created. Why is the main aspect of bitcoin essential to us in the development of the world and its large world?
Bitcoin and Other Cryptocurrency’s Major Social Benefits and Their List

Bringing People into Formal Financial System:

This naturally is not a poor financial system at all. All this has happened through corruption and maltreatment of those in power. If the world that is present with the digital currency, so that millions of people can …


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Robinhood Hires Facebook’s Cryptocurrency Marketer As Its New CMO

robinhood hires facebook’s cryptocurrency marketer as its new cmo


Christina Smedley, Robinhood’s new CMO, was previously on marketing teams at Facebook and PayPal.


A former marketer of Facebook and Paypal is joining Robinhood as its new chief marketing officer.
Christina Smedley has joined the Millenial-focused brokerage firm as its new CMO. Prior to Robinhood, Smedley spent nearly five years working in marketing on focus areas at Facebook working on Facebook Messenger before working on cryptocurrency products like the digital payments wallet Calibra now known as Novi.
In a blog post today announcing Smedley’s role, Robinhood cited her track record of “bringing humanity to financial and technology-based brands.” And in a tweet, Robinhood co-founder and co-CEO Vladimir Tenev said Smedley “brings such a wealth of experience from leading marketing efforts at companies like PayPal and Facebook.”
Over the past two decades, Smedley has worked on marketing efforts at various tech companies. From 1999 through 2004, she was the director of worldwide communication at Amazon. After that, she spent nearly eight years at Edelman, working with clients such as Unilever before becoming executive vice president and global chair of the public relations powerhouse’s consumer marketing division. She then spent several years on the brand team at PayPal.

Recommended For YouSmedley …


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‘I Want To Buy All The Bitcoins,’ Portnoy Tells Winklevoss Twins In Crypto Interview Challenge

‘i want to buy all the bitcoins,’ portnoy tells winklevoss twins in crypto interview challenge


Dave Portnoy, the founder of the Barstool Sports blog and an outspoken bitcoin sceptic, has invited cryptocurrency exchange founders Cameron and Tyler Winklevoss to explain bitcoin to him.”I’m officially inviting the Winklevi [sic] twins to my office to explain bitcoin to me,” Portnoy said via Twitter, adding: “I want to buy all the bitcoins.”
“Invitation accepted,” Tyler Winklevoss replied, with his brother Cameron adding: “I’m in too.”
MORE FROM FORBESIs This The Real Reason Behind Bitcoin’s Huge Weekend Flash Crash?By Billy Bambrough

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Cameron Winklevoss (L) and Tyler Winklevoss have become two of the most recognizable names in … [+] bitcoin and cryptocurrency after founding the New York-based Gemini bitcoin and crypto exchange.

Getty Images for Hauser & Wirth

Portnoy, who has built a reputation as a stock market day trader during the coronavirus lockdowns, has repeatedly told his Twitter and live stream fans he’s not into bitcoin and cryptocurrencies, saying last month he “isn’t in on bitcoin,” after attention from teens on TikTok caused the “joke” cryptocurrency dogecoin to double in value.

Portnoy has found success riding the massive share price rallies brought on by unprecedented market intervention by the U.S. Federal Reserve since the coronavirus …


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Are Cryptocurrency Gains Taxable?

are cryptocurrency gains taxable?


Apart from other transactions, investors can earn cryptocurrencies by mining. Cryptocurrency mining is done on computers by solving complex mathematical equations. According to an IRS notice, 2014-21, when a taxpayer successfully mines a cryptocurrency, the fair market value of such coins should be included in the gross income. The mined cryptocurrency could either be sold to a third party or exchanged for goods and services. In both cases, the value received from the virtual currency is taxed as personal or business income after reducing any expenses incurred to mine the said cryptocurrency.As the interest in cryptocurrencies increases, the IRS is taking a serious view on taxing them. Over time, the IRS might provide more guidance for nuanced situations including cryptocurrency taxes.


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Asian Fintech Fincy Adds Cryptocurrency Support | Finance Magnates

asian fintech fincy adds cryptocurrency support | finance magnates


Fincy, A Singapore-based fintech, has added cryptocurrency support on its platform for both retailers and merchants, the company announced on Tuesday.This came with the increasing demand for cryptocurrencies and the recent crypto market rally.The Most Diverse Audience to Date at FMLS 2020 – Where Finance Meets Innovation“Cryptocurrencies are an important part of the future of contactless payments in Singapore. They complement existing systems really well and are gaining popularity as an efficient and trusted payment medium,” Fincy CEO Vanessa Koh said in a statement.The platform has added multiple popular digital currencies including Bitcoin and Ethereum and will allow transfers from cryptocurrency wallets directly to Fincy wallets. In addition to transfers, the platform users can trade the cryptocurrencies, converted to fiat, or even spent at supported merchants – all within Fincy.“By supporting crypto and tokens directly in the Fincy app, we are giving our Singapore users and merchants even more ways to transact,” Koh added.Suggested articlesThe Startup Helping Real Estate Websites Achieve ADA ComplianceGo to article >>A payments platform built on blockchainFincy was established last year and is simplifying currency exchange via its multi-currency wallet, at wholesale exchange rates and with transaction fees as low as 0 percent. The …


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Cellebrite adds cryptocurrency and blockchain investigations solution –

cellebrite adds cryptocurrency and blockchain investigations solution –


Cellebrite has launched Crypto Tracer. This is a cryptocurrency investigation solution designed to speed up investigations involving blockchain technology and cryptocurrencies. Such a tool is becoming increasingly necessary (see also Chainalysis’ Market Intel or Elliptic’s Discovery).
“We’re very excited to offer our best-in-class cryptocurrency tracing and blockchain analytic capabilities to enhance Cellebrite’s Digital Intelligence, training and investigative services,” said Stephen Ryan, COO of CipherTrace.
“As criminals increasingly utilize cryptocurrencies in their illicit activity, our partnership with Cellebrite will be that much more important to making the digital world a safer place.”
The need
Every year an estimated US$76B of illegal activities involve Bitcoin. Almost 100% of darknet market transactions – including the sale of ransomware, illegal drugs and phishing kits – involve cryptocurrencies. In large part, this is attributable to the ease of transacting online and across borders.
The use of cryptocurrencies by criminals is likely also to be about the perceived anonymity. They like that transactions recorded on the blockchain, which is a public ledger, do not identify those executing these transactions (despite anyone being able to see each transaction). Markets and legal authorities, as well as consumers/users, need more transparency.
Cellebrite’s Crypto Tracer
The Crypto …


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