IRS Tells Couple With $7 Million in Bitcoin to Liquidate Crypto Assets and Pay off Tax Debt

The Internal Revenue Service (IRS) has won a case in which it demanded that a Maryland couple liquidate their bitcoin to pay-off a $1.1 million tax debt. Alexander and Laura Strashny proposed to the IRS to pay their 2017 tax liability, generated from non-crypto activities, in installments over a six-year period. But after seeing the Strashny’s $7 million cryptocurrency fortune, the tax collector rejected the proposal, insisting that the couple sell a part of their bitcoin and immediately settle the debt in full. The case was heard in a tax…

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Civic to Launch Vaccination-Proofing Tool on Apple & Google App Stores

Civic Technologies, a San Francisco-based innovator in digital identity solutions, announced on June 16 that its Civic Wallet is now available in the App Store and Google Play.  Civic Wallet has also formed a partnership with Circle Medical, a San Francisco hospital. Together, they will act as a Covid-19 vaccination-proofing tool for Circle Medical’s employees.  Five hundred Circle Medical employees will be able to test for Covid-19 at a Circle Medical testing site located in the San Francisco Bay Area. They state that new locations will be added in the…

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‘We Need to Understand It First and Best’ — But Is He Too Late?

In a hearing on June 17 before the House Committee on Financial Services, Chairman of the Federal Reserve Jerome Powell got into an exchange with Representative Tom Emmer (R-MN) over the subject of a central bank digital currency.  Is there any progress on the digital dollar? Emmer asked “What substantive recent actions has the Fed taken to understand and experiment with this technology?”  Powell said the Fed needed to be on top of the issue, but did not actually mention any actions of substance at all: “We owe it to…

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River Financial Raises $5.7 Million – Bitcoin Magazine

River Financial, a Bitcoin-based financial institution, has reported average monthly volume increases of 80 percent, a doubling of clients each month since January 2020 and has recently closed a $5.7 million seed round to continue development of its suite of bitcoin financial services. It partly attributes this growth to the unbridled economic stimulation efforts undertaken by central banks this year. “The surging activity we’ve seen since the beginning of 2020 has been in part inspired by the Federal Reserve’s unprecedented monetary intervention,” said Alex Leishman, River Financial’s CEO, in a…

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2 in 1 – Learn How to Trade on Derivatives for Free and Win Apple Prizes From CoinDeal Derivatives

Leaked Pentagon War Game Shows Gen Z Using Bitcoin to Battle the Corrupt State The United States has been creating military simulations, otherwise known as ‘war games,’ for years now. In fact, the Pentagon and various professional analysts created a permanent war gaming facility for simulations. This week a report indicates that Pentagon officials … read more. Not So Private: 99% of Zcash and Dash Transactions Traceable, Says Chainalysis Chainalysis says it can track 99% of transactions involving Zcash, and almost all of Dash’s – coins that both fancy themselves…

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Six Crypto Heavyweights Join ETH 2.0 Staking Trial

Six high-profile crypto firms will participate in an ETH 2.0 staking pilot project using the ConsenSys Codefi platform. On June 17, ConsenSys tweeted that cryptocurrency exchanges Binance and Crypto.com, digital asset custody providers Trustology, Matrixport and Huobi Wallet, and investment firm DARMA Capital would receive early access to an ETH 2.0 staking pilot thorough its decentralized finance Codefi platform. Increasing excitement for ETH 2.0 The move comes amid increasing excitement for the long-awaited ETH 2.0, which will integrate a proof-of-stake (PoS) consensus mechanism into Ethereum (ETH).  The rollout will see a…

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Binance to Launch UK Trading Platform for Institutional and Retail Investors

Leading cryptocurrency exchange Binance will be expanding to the United Kingdom with a regulated crypto trading platform for both institutional and retail investors.  With this platform, Binance aims to tap the institutional investment market and meet the rising demand for digital asset investments in this sphere.  Binance is reportedly reviewing 65 digital assets that it plans to list on the exchange at launch. Investors will be able to trade these assets directly against pounds and euros, Reuters reported. Being a regulated exchange, Binance’s trading platform will function under the supervision…

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