Coinbase customers in the UK have been informed that Her Majesty’s Revenue and Customs (HMRC) have asked for the names and addresses of anyone who received more than £5,000 ($6,470) in cryptocurrency into the platform in the last tax year. In an email sent by the platform on Friday, customers were informed that their information was being sent to the agency after the exchange had negotiated the terms of the data haul, and is another indication of the clamping down on crypto by tax authorities.
Read the full article at FullyCrypto: https://fullycrypto.com/coinbase-to-hand-over-2019-20-customer-data-to-hmrc
The cryptocurrency market during the third quarter of 2020 more or less belonged to Uniswap and DeFi, as yield farming and food-based meme tokens took the crypto world by storm. The same period also ushered in a new phrase in the crypto lexicon, rug pull, with which many sadly became accustomed.
Read the full article at FullyCrypto: https://fullycrypto.com/crypto-in-2020-a-year-in-review-part-3
Coinbase’s recent legal victory against former customer Darrell Archer has highlighted the importance of holding your own tokens rather than running the risk of exchanges preventing you from accessing them. Archer sued the exchange after they withheld Bitcoin Gold (BTG) tokens he was due after the project forked from Bitcoin in 2017, but suffered eventual defeat last week at an appeals hearing. The ruling has reaffirmed the work of the Proof of Keys movement, who emphasize the mantra that if you don’t own your own private keys you don’t truly own your coins.
Read the full article at FullyCrypto: https://fullycrypto.com/proof-of-keys-debate-resurfaces-following-coinbase-victory
Proof of Honesty may sound like a virtual honesty box, but instead it’s a new consensus mechanism aimed at preventing 51% attacks.
Read the fully article at FullyCrypto: https://fullycrypto.com/geeq-targets-51-attacks-with-proof-of-honesty-approach
The perpetrators of last week’s KuCoin hack have been identified, according to KuCoin CEO Johnny Lyu. Lyu took to Twitter over the weekend to give an update on the hack, which saw over $200 million in a variety of tokens stolen from the cryptocurrency exchange, stating that $204 million worth of assets was now back in their control and that law enforcement authorities were “officially involved”.
Read the full article at FullyCrypto: https://fullycrypto.com/kucoin-hack-perpetrators-identified
Bitcoin is closing in on $14,000 after a spectacular October, stopping just $100 short of its 2019 high. Having shaken off the impact of the September Effect, Bitcoin has resumed its long-term uptrend this, comfortably outstripping other assets and markets, although a pullback could be on the horizon before an assault on further highs.
Read the full article at FullyCrypto: https://fullycrypto.com/bitcoin-closes-in-on-14000-as-october-ends-with-a-bang
Bitcoin’s rapid rise to $42,000 and its $10,500 correction has got many worried that the Bitcoin bull run is over, that what we’ve just seen is a prelude to a larger correction down to $20,000 or below. While we can certainly say that Bitcoin grew too fast too soon towards the back end of last year, there are striking similarities between what happened the last time Bitcoin broke through its all-time high in 2017 in the lead up to that bull run and what we have seen in recent weeks that suggest the exact opposite is going to happen.
Read the full article at FullyCrypto: https://fullycrypto.com/bitcoin-correction-could-be-bull-run-launchpad
Bitcoin will always have its detractors, but some are more famous than others. For every Elon Musk there is a Bill Gates, for every Michael Saylor a Warren Buffett. However, recent weeks have seen a change in mindset from two long-established Bitcoin bears in a sign that the digital world may finally be winning over the analogue stick in the muds. ‘Wolf of Wall Street’ Jordan Belfort and Howard Marks, co-founder and co-chairman of Oaktree Capital Management, have both been avowed anti-Bitcoiners up to this point, but it seems that the pair have finally had a change of heart as Bitcoin has seen rapid institutional adoption and a price rise to $60,000.
Read the full article at FullyCrypto: https://fullycrypto.com/bitcoin-bears-are-finally-educating-themselves