Daily Crypto Headlines
1. New Zealand’s Tax Authority Considers Altering its Treatment Towards Crypto
The New Zealand Inland Revenue Department announced that it would ease the unfair tax burden on cryptocurrencies. The proposed changes might see the controversial goods and services tax (GST) applied to digital currencies dropped. Under New Zealand’s current administration, digital currencies are classed as properties and hence they are also subject to income tax.
2. South African Crypto Firm, Luno Adds Ripple To Its Platform
Luno, the largest cryptocurrency exchange of South Africa, has introduced Ripple (XRP) to its platform for its customers. The report stated that currently, the market value of the third-largest digital currency stands at $12.5 billion. Till now, there were 3.5 million customers across 40 countries, who already have access to bitcoin, ether and bitcoin cash on Luno.
3. BT360 Crypto Wallet Locks Users Out of Accounts
BT360, a popular Israeli-based cryptocurrency wallet has locked its users out of their accounts to investigate the clear financial irregularities. The firm reportedly shut down its website and wallet back on February 12.
4. Research For China’s DCEP Has Delayed
The coronavirus outbreak has reportedly delayed China's research on its sovereign cryptocurrency from Q1. The report further noted that however, the launch could still get ahead as planned as the Chinese central bank had the technological resources, support and abundant talent to get along with the process.
5. Billionaire Warren Buffet Finds Cryptocurrencies Valueless
During an Interview with CNBC reporter Becky Quick, Warren Buffet said cryptocurrencies have no value. The multi-billionaire popularly known as the Oracle of Omaha discussed the issue of Bitcoin after a fundraising campaign. In attendance was Tron CEO Justin Sun - a proponent of digital currencies.