Bitcoin News Summary – December 24, 2018

Alexander Reed
Author
Last updated on:
Fact Checker

Here’s what happened this week in Bitcoin in 99 seconds.

Facebook is said to be working on a cryptocurrency that will let users transfer money on its WhatsApp messaging app, focusing first on the remittances market in India. The company is developing a stablecoin — a type of digital currency pegged to the U.S. dollar however at the moment it is still far from releasing it.

Blockstream announced that its blockchain satellite system expanded its coverage to Asia. Most countries in the world can now sync the Bitcoin blockchain by satellite. Blockstream also announced that its satellites also now support Lightning Network payments.

A Twitter poll conducted by England’s central bank revealed that around 70% of its followers would prefer to receive a monetary gift in the form of cryptocurrency.

The UK’s tax agency, Her Majesty’s Revenue and Customs, announced new rules for how crypto assets will be taxed within the country. Briefly, the information indicates that crypto will be considered more as property or assets than as money.

Two congressmen in the United States proposed a legal change which would exclude cryptocurrencies from existing securities laws. If approved, their bill would alter the way crypto and tokens are regulated within the US.

And finally, the South Korean Prosecutors’ Office charged three executives from crypto exchange, Upbit, with fraud. It is alleged that the executives conspired to create over $225 billion in fake volume. The problem of fake volume persists across many exchanges.

That’s what happened this week in Bitcoin. See you next week.

Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
99Bitcoins may receive advertising commissions for visits to a suggested operator through our affiliate links, at no added cost to you. All our recommendations follow a thorough review process.
Alexander Reed
Alexander Reed

Having delved into futures trading in the past, my intrigue in financial, economic, and political affairs eventually led me to a striking realization: the current debt-based fiat system is fundamentally flawed. This revelation prompted me to explore alternative avenues, including... Read More

Free Bitcoin Crash Course

Learn everything you need to know about Bitcoin in just 7 days. Daily videos sent straight to your inbox.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service
We hate spam as much as you do. You can unsubscribe with one click.