MasterCard adopts blockchain, US representatives ask IRS to clarify crypto tax guidance, Japan reacts to Zaif hack, Robinhood responds to accusations, California is against BTC in politics, ICO project is exposed
- MasterCard is one of the latest entities among the payment service giants to adopt blockchain in order to keep a track of consumer payments.
- US representative Kevin Brady and other politicians have written an open letter to the Internal Revenue Service (IRS) asking the taxation office to publish provisional guidelines on how digital currency transactions and investments should be handled when US citizens file their taxes.
- Following the hack of Zaif crypto exchange, Japan immediately responded, launching an emergency inspection of the exchange and a survey of all other crypto exchanges.
- Logan Kane alleges Robinhood ‘takes from the millennial and gives to the high-frequency trader’ by accepting payment for order flow and selling order data. Robinhood responds explaining its business model and practices and dening selling of personal customer data.
- The California state government’s political watchdog has ruled that candidates will not be allowed to receive donations for political campaigns with cryptocurrencies like Bitcoin.
Pause for Thought
- @udiWertheimer exposes the ICO project which states that it can compress a 2-minute video clip to 472 bytes.
1/ In @cryptomanran's latest episode, he and his viewers are being scammed by a group of blockchain-based liars, raising $50m in an ICO to use the blockchain to compress video files.— Udi Wertheimer 🔨 [#reckless] (@udiWertheimer) September 19, 2018
They show how they "compress" a 2 minute clip to a 472 byte file.
That's impossible. Here's why. pic.twitter.com/uaVJO1FlGX