Bitcoin investors warned they could unknowingly owe tax ahead of self-assessment deadline January 30, 2018 Bitcoin investors who made huge gains when the cryptocurrency’s value rocketed last year have been warned that they could unknowingly owe tax to HM Revenue and Customs (HMRC). However, there is some confusion around the issue, as Ed Molyneux, the boss and co-founder of cloud accounting software provider FreeAgent, explains: “HMRC sees bitcoin profits being [...]
Bitcoin price dips as South Korea cryptocurrency ban on anonymous accounts comes into force January 30, 2018 New regulation of bitcoin and other cryptocurrencies has come into force in South Korea, one of the biggest markets for trading. The country’s financial authority has banned the use of anonymous accounts for trading the highly speculative currencies. People’s exchange wallets, which are used to hold cryptocurrencies online, will have to match the name on [...]
Bitcoin fraud allegations: US derivatives regulator sues three cryptocurrency operations January 19, 2018 The US derivatives watchdog has filed charges against three separate cryptocurrency operators with allegations of fraud. The Commodity Futures Trading Commission (CFTC), charged New York resident Patrick McDonnell and his company CabbageTech with fraud, saying the defendants “preyed on customers interested in bitcoin and litecoin”. In the second case, the CFTC alleged Dillon Michael Dean [...]
Bitcoin bubble grows as banks fall flat December 1, 2017 Bitcoin continues to defy expectation. It recently reached and passed a milestone, that of the $10,000 mark, an incredible feat considering it was worth less than £1,000 at the start of 2017. Nobody can quite agree as to why it’s so strong, but a parallel to its soar in value is its huge popularity in [...]
Taxman “rubbing its hands with glee” over bitcoin December 13, 2017 Interest in bitcoin has continued to boom despite concerns that the bubble could burst at any moment, and regulators are struggling to keep up. Today, news emerged that South Korea was considering taxing capital gains from cryptocurrency trading, prompting questions of how bitcoin could be taxed in the UK. “Any moves to introduce CGT [capital [...]
Should you hold Bitcoin as part of a diversified portfolio? December 13, 2017 Amid the hoopla over the recent meteoric Bitcoin price rise – from $968 at the end of 2016 to over $16,500 on 11 December 2017 – some are now questioning whether the cryptocurrency should be taken more seriously. While we don’t agree that you should hold Bitcoin as part of a diversified portfolio, we believe [...]
Is gold making a comeback? June 12, 2019 A rise in the price of gold has coincided with a renewed interest in the role of bullion as a monetary asset. Eclipsed since the early Seventies by paper assets and, occasionally, even cryptocurrencies, gold is once again heralded as a risk-free asset with three huge plus points. These are that it is universally acceptable, that it [...]
Bitcoin (BTC) price heads towards $8,000 as concerns mount over regulatory crackdown February 2, 2018 Bitcoin continued its downward trajectory this morning, edging closer to $8,000, as concerns escalate over a potential regulatory crackdown. The cryptocurrency was down 7.1 per cent to $8,411.67 at the time of writing, after falling below the £10k mark in the early hours of Thursday morning. Yesterday, research revealed bitcoin’s losses for January totted up [...]
Government websites have secretly been mining bitcoin in “cryptojacking” of ICO and student loans company with Coinhive February 12, 2018 Government websites in the UK and US, including those belonging to the data regulator and the Student Loans Company, have been secretly commandeered by hackers to mine bitcoin. The website of the Information Commissioner’s Office was among several to be taken offline after a security researcher discovered that malware was being used to illegally mine [...]
Ethereum hard fork: Just a temporary distraction from the crypto gloom January 7, 2019 Ethereum has started 2019 on strong form. Its native Ether cryptocurrency gained 10 per cent in the first week of January, and has doubled in value since bottoming out at $75 in mid-December. It has usurped Ripple to reclaim the latter’s title as the world’s second-largest cryptocurrency. Traders are snapping up the currency ahead of next [...]