In this release: BTCChina, one of the most popular cryptocurrency markets, situated in Hong Kong, refused the commission in trading pair Bitcoin-US Dollar. The BTCC Exchange cancels the commission for trading with a crypto currency. One of the largest exchanges in China has announced a reduction in taxes on trading bitcoin with the US dollar. Crypto-exchange will cease to withdraw commission from users on its international site btcc.com. At the same time on the home site of the BTCC, the commission will remain the same…
According to the representative of BTCC, Tendai Musakva, taxes were abolished in order to eliminate competitors and focus on the international activities of the exchange. Tendai Musakva also noted: “Now we are focused on development. And we learn from the experience of those bitcoin-exchanges that have been on the market for quite a long time”.
Huge negative profit for cryptocurrency market – this is a result of demands of Hawaii state administration. Coinbase asked its Hawaiian clients to close their accounts within next thirty days. Such decision was caused by the new regulatory changes in the state’s policy – the department of financial institutions in Hawaii ordered Coinbase to detain cash of its customers in the Hawaiian Islands. The Hawaii Division of Financial Institutions forced the startup to hold cash reserves equal to any digital currency funds held for its customers.
Becoming a leader in blockchain technologies in China. This is an object of Chjen Young, municipal revenue head in Shanghai, China. The Chinese authorities obliged the Municipality to implement the laws and regulations issued by the central government of China. In a report published by Shanghai Daily magazine, Zheng Yang noticed: “For blockchain innovation, we call for legal regulations as the first step to facilitate growth of the sector”.