Ledger Vault Secures $150 Million Crime Insurance Policy for Digital Assets

Ledger Vault, the custody arm of hardware wallet manufacturer Ledger, has procured a crime insurance policy that covers digital assets. Ledger Vault, the custody arm of hardware wallet manufacturer Ledger, has procured a crime insurance policy developed with broker and risk advisory firm Marsh and insurance company Arch Insurance Limited. According to an announcement on Nov. 14, the Ledger Vault platform now provides its users a customized crime insurance program for cryptocurrencies for up to $150 million. The program applies to third-party theft of the master seed and private keys,…

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IRS: Like-Kind Tax Exemption Has Never Applied to Crypto Transactions

The like-kind exchange tax exemption has never been applicable to crypto, an IRS official said. The like-kind exchange tax exemption is not applicable to cryptocurrency transactions, according to the United States Internal Revenue Service (IRS).  An official at the IRS Office said that U.S. taxpayers have never been authorized to postpone paying tax as part of the like-kind exchange principle even before the 2017 tax overhaul, Bloomberg Tax reports Nov. 13. Suzanne Sinno, an attorney in the IRS Office of the Associate Chief Counsel, delivered her remarks on U.S. crypto…

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Coinbase, Kingdom Trust, Regal Assets Jointly Offer Crypto IRA and 401(K) Accounts

Crypto exchange Coinbase, custodian Kingdom Trust and investment firm Regal Assets have jointly begun offering crypto IRA and 401(K) accounts in the United States. Major American crypto exchange Coinbase, asset custodian Kingdom Trust and alternative assets investment firm Regal Assets have begun offering cryptocurrency-based individual retirement and 401(K) accounts in the United States. An individual retirement account (IRA) is an investment account that enables an individual to save money for retirement in a tax-deferred way, while a 401(K) represents a qualified retirement savings plan offered by an employer. In a…

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Samsung SDS to Use Zero-Knowledge Proofs on Business Blockchain

Samsung SDS partnered with Israeli privacy-enhancing tech firm QEDIT to provide more privacy for its enterprise blockchain Nexledger. Samsung SDS, the IT arm of tech giant Samsung, has integrated QEDIT’s zero-knowledge proof solution (ZKP) to its Nexledger blockchain. By applying ZKP, Samsung SDS intends to provide a higher level of privacy for users of its enterprise blockchain platform Nexledger, QEDIT said in a press release on Nov. 14. To apply the technology, Samsung SDS has signed a memorandum of understanding with Israeli privacy-enhancing technology provider QEDIT in Seoul. According to…

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Iran Offers Bounty for Illicit Cryptocurrency Mining Operations

Iranian authorities are offering a bounty to anyone who exposes unauthorized mining operations in the country. Iranian authorities are offering a bounty to anyone who exposes unauthorized mining operations in the country, Iranian news outlet PressTV reports on Nov. 13. A spokesman of the Energy Ministry announced the bounty program during an interview with local news outlet IRIB News, while illustrating the new electricity pricing mechanism for miners. Mostafa Rajabi, the spokesman in question, said yesterday that people who expose cryptocurrency mining operations that are illicitly using subsidized electricity will…

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John McAfee Launches WHACKD — An ‘Epstein Didn’t Kill Himself’ Crypto

American entrepreneur John McAfee has launched a polemical meme cryptocurrency dubbed “WHACKD,” marketed with the rubric “Epstein Didn’t Kill Himself.” American entrepreneur and vocal crypto advocate John McAfee has launched a polemical meme cryptocurrency dubbed “WHACKD.”  The token’s full rubric — “Epstein Didn’t Kill Himself” —  was revealed in McAfee’s Nov. 11 Twitter announcement on Nov. 11.  A dead billionaire, the former first lady… and pizza The image used to advertise WHACKD — a portrait of Hillary Clinton with eyes fixed cravenly on a pair of dangling feet, as she…

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Power Ledger Completes Peer-to-Peer Solar Energy Trading Trial in India

Australian blockchain energy firm Power Ledger and BSES Rajdhani Power Limited have successfully conducted a peer-to-peer solar power trading trial in India. Australian blockchain energy firm Power Ledger and Indian electricity distribution company BSES Rajdhani Power Limited (BRPL) have completed a peer-to-peer (P2P) solar power trading trial in the country. Power Ledger announced the news in a press release shared with Cointelegraph on Nov. 14, detailing that it carried out a large-scale P2P energy trading trial in the Dwarka region, South West Delhi, which initially comprised 5-6 megawatts (MW) of…

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Crypto Exchange OKEx Launches Bitcoin Futures Margined With Tether

Cryptocurrency exchange OKEx announced the launch of its Tether-margined Bitcoin futures contracts. Cryptocurrency exchange OKEx has launched Bitcoin (BTC) futures contracts that are margined with the Tether (USDT) stablecoin. OKEx announced the new offering in a press release on Nov. 14. OKEx first announced its intention to launch USDT-settled futures trading with up to 100x leverage at the end of October. Now, after conducting a simulation that began on Nov. 5, the exchange listed the BTC/USDT offering on its trading platform. The exchange previously said that offering a stablecoin-based derivatives…

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Coinbase Card Adds XRP and Launches in 10 More European Countries

Coinbase’s Visa debit card expanded support for five more cryptocurrencies in ten new countries. Coinbase’s Visa debit card has expanded support for five more cryptocurrencies in ten new jurisdictions, the firm announced in two separate tweets on Nov. 14. Launched in April 2019, Coinbase Card now supports a total of nine cryptocurrencies in 29 countries in Europe. The Coinbase Card’s new supported cryptos include XRP, Stellar (XLM), Basic Attention Token (BAT), 0x (ZRX) and Augur (REP), enabling users to spend using the listed currencies. The five coins join other major…

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99% of Token Price Is Pure Speculation Says VeChain Founder

VeChain founder Sunny Lu stated that speculation is the main determiner of token prices in the blockchain industry. Speaking at a panel today at BlockShow Asia 2019, VeChain founder Sunny Lu suggested that token value is mostly arbitrary. The panel was titled “Creating Token Value — Are Monetary Gains Hindering Blockchain Innovation?” and it also included Eddy Travia, co-founder and CEO of Coinsilium; Matthew Roszak, chairman & co-founder at Bloq; Greg Wasserman, co-head of principal investing at Galaxy Digital; and Dr. Pavel Kravchenko, CEO & co-founder of Distributed Lab. But…

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