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Cryptocurrency Midday Report

Jul 02, 2018

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  • CoinEX’s trading volume has increased form USD$5mm to USD$1.5bn after the adoption of a trans-fee mining model. The trans-fee model is a variant of the model used by Fcoin, Bit-Z and Coinbene. The platform’s native coin BNB returns users trading fees in the form of the exchange’s native token. The model so far has been criticized because it may encourage a large amount of automated trades which would allow an individual to accumulate the exchange tokens
  • The blockchain arm of payment service provider, Qiwi has launched a crypto investment bank. The investment bank is called HASH and it aims to advise investors and other domestic Russian companies in Russia. Some of the services that will be provided include: managing client ICOs, assisting clients build blockchain networks and advising clients in investing in cryptocurrency projects
  • There is a new type of Windows malware out to steal from Bitcoin (BTC) investors.  This malware is designed to hack into and gain access to your computer’s clipboard.  It is a part of the family of threats known as “clipboard hijackers”, and secretly replaces your BTC address with the address of the attacker, effectively having you send your Bitcoins to the attacker instead of your desired place.  The best ways to protect against this are to update your antivirus software, and to double-check the BTC address you are entering.
  • Several countries around the world are leading the way for becoming increasingly open to the use and growth of cryptocurrencies.  In March 2018, Belarus gave legal backing and tax-exemption status until 2023 for cryptocurrency transactions. Denmark has a cryptocurrency environment that is less restrictive than many other countries, and transactions are not subject to capital gains tax. Singapore and the Netherlands both have amenable cryptocurrency regulations, and many businesses are starting to accept cryptocurrencies as payments too. Additionally, the German National Tourist Board has made Bitcoin legal tender throughout the tourism industry, and cryptocurrency mining and payments are tax exempt too.