Bitcoin tanks more than 10% to below $11,000; South Korea announces details on crypto tax

Bitcoin and other major digital currencies dropped sharply Monday morning.

Bitcoin briefly tumbled to a low near $10,050 on Coinbase Monday afternoon ET, marking a loss of about 11 percent over the last 24 hours. Bitcoin traded near $10,192 as of 4:28 p.m. on Coinbase, the leading U.S. marketplace for buying and selling major digital currencies.

Ethereum fell below the psychologically key $1,000 level again and traded about 10 percent lower near $943, according to CoinMarketCap.


Xapo CEO’s vision on Bitcoin as a Single Blockchain for all – cryptona

CEO of Xapo and board member of Pay Pal, Wencess Casares alongside with CEO of PayPal, Dan Schuman showed up for a Facebook Live interview on 12th January 2018. Casares laid out his vision of having a single, robust Blockchain to handle all cryptocurrency transactions globally. And he believes it is the blockchain for Bitcoin that will take up this task. Additionally, he sees that Bitcoin will be an apolitical standard of value.


Transactions Speeds: How Do Cryptocurrencies Stack Up To Visa or PayPal?

Cryptocurrency bag holders often boast that their network transaction speeds are faster than mainstream payment methods, such as Visa or Paypal. As cryptocurrencies continue to rise in popularity, it will be important to determine which blockchain payment networks could eventually become the “new Visa.” While both sides continue to debate their arguments, we jumped through the hard data and created a unique visual to highlight transaction speeds across several different payment networks.


Why São Paulo Wants to Pay for Infrastructure with Cryptocurrency

The Brazilian state of São Paulo is looking to cryptocurrency to help solve its infrastructure problems.

The state, home to 45 million residents and the city of São Paulo – the largest metropolis in the southern hemisphere and the third-largest in the world – plans to use a token called buildcoin to pay engineers across the globe for feasibility studies. These studies are required to assess the practicality and justify the expense of large construction projects.


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Commission Income From Crypto Accounts Jumped 36 Times for South Korean Banks

South Korean banks have been providing virtual account services to cryptocurrency exchanges and earning commissions from them. According to data obtained by the country’s Financial Supervisory Service, banks made 36 times more in commission income from crypto exchanges last year than the previous year.