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Cryptocurrency Midday Report

Jul 16, 2018

  • iXledger, a UK company incorporating blockchain technology into insurance, has launched a Blockchain Insurance platform.  Companies with underwriters, insurers, and reinsurers in the blockchain industry would purchase this insurance to protect themselves from cybercrime, legal threats, and financial exposure risks. The platform utilizes their own IXT token to give those interested access to iXledger’s services.
  • Robinhood, the popular trading platform has announced that it will be adding Bitcoin Cash (BCH) and Litecoin (LTC) to its list of tradable cryptocurrencies.  Currently Robinhood only allows the trading of Bitcoin (BTC) and Ethereum (ETH), so this will bring the number of its tradable cryptocurrencies to four. Robinhood plans to release these and more crypto-specific features in the coming months.
  • Japan’s Tax Agency, the NTA, has announced its new plan to tax cryptocurrency income.  The NTA hopes to create a simplified strategy for taxing crypto income, reportedly only to those earning over USD$1,800 per year. The NTA will be working with the Financial Services Agency (FSA) and other cryptocurrency organizations to roll out the automated profit calculation as part of a concrete tax policy before next year’s tax return.
  • Pundi X, a crypto Point of Sale (PoS) machine developer will be supplying PoS machines to cafes and restaurants throughout Hong Kong. Pundi X will be working with FAMA Group on this project and are specifically focusing on the Southeast Asian market in the coming months. Pundi X cites the booming interest in the cryptocurrency asset class as a key reason for this project.