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| August 18, 2018

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Aviation support company plans 830 layoffs at LAX

August 14, 2018 |

Despite surging demand for air travel, a Swiss aviation service company is cutting 830 jobs and ending all of its ground handling and transportation services at Los Angeles International Airport, citing “market conditions.”

Swissport, which provides baggage handling, cabin cleaning and other services…


L.A. Times – Business

Jamaica Stock Exchange Plans to Offer Cryptocurrency Trading

August 14, 2018 |

Jamaica Stock Exchange Plans to Offer Cryptocurrency Trading

The Jamaica Stock Exchange (JSE) has announced it plans to allow investors the ability to trade cryptocurrencies through the regulated stock exchange. According to the JSE, the Canadian-based Blockstation will help facilitate the crypto-trading services.

Also read: Malta Tops Exchange-Based Crypto Trade, Russia Leads in OTC Volume

Jamaica Stock Exchange Plans to Facilitate Crypto-Asset Trades in 2018

Jamaica Stock Exchange Plans to Offer Cryptocurrency TradingThe Jamaica Stock Exchange is interested in offering its clientele the ability to invest in digital assets. The JSE announced on Tuesday that the organization is partnering with the company Blockstation by signing a memorandum of understanding (MoU). The MoU states the two firms will enable JSE customers the ability to trade blockchain tokens within a secure and regulatory framework. JSE says that Blockstation’s network is well suited for managing digital currency trades, and the clearing and settlement of blockchain tokens.

Satisfying Considerable Investor Interest in Digital Assets

The two organizations believe the agreement will be a milestone as it could become the first international stock exchanges that will allow cryptocurrency trades. At the moment only digital currency futures, options, and exchange-traded notes are traded in a regulated stock exchange type of environment. JSE has been working with Blockstation by completing tests and hosting a successful live workshop with brokerage members and local regulators.

“We are excited to implement this service with our clients, satisfying considerable investor interest in digital assets. We are also proud to be at the forefront of bringing innovation to capital markets,” explains Marlene Street Forrest, the Managing Director of the JSE.

We are very comfortable moving forward based on the training and support provided by Blockstation, and because their trading platform incorporates familiar compliance rules to ensure a fair marketplace.

Jamaica Stock Exchange Plans to Offer Cryptocurrency Trading

The Importance of Offering Digital Assets Through Regulated Financial Institutions

Since the JSE launched its principal stock exchange in Kingston, Jamaica the organization has seen a lot of development. To accommodate growth the JSE launched its online trading platform in 2015, which at the time was the first of its kind within the Caribbean, enabling clients to view market performance, and buy and sell securities. A broker member of the JSE from the firm Sagicor Investments, Kirk Brown, says the JSE decision to offer digital currency trading is paramount for the growth of this budding tech-driven economy.         

“It is very important for investors to be able to invest in digital assets through their traditional financial institutions,” Brown emphasizes.

It’s exciting to be at the cutting edge where digital currency demand meets safe reliable access.

What do you think about the Jamaica Stock Exchange planning to offer digital currency trading services? Let us know your thoughts on this subject in the comment section below.


Images courtesy of Shutterstock, and Pixabay.


Need to calculate your bitcoin holdings? Check our tools section.

The post Jamaica Stock Exchange Plans to Offer Cryptocurrency Trading appeared first on Bitcoin News.

Bitcoin News

McDonald’s plans to modernize 550 California outlets with ordering kiosks and table service

August 14, 2018 |

McDonald’s Corp. and its franchisees plan to spend $ 390 million to update 550 McDonald’s restaurants in California through 2019.

McDonald’s is modernizing its dining rooms, installing new digital menu boards and providing self-order kiosks inside its restaurants, among other improvements.

The kiosks…


L.A. Times – Business

TMZ

HGTV’s ‘Brady Bunch’ House Expansion Plans are Pissing Off Neighbors

August 12, 2018 |

HGTV — the house remodeling network with wholesome hosts — is PISSING OFF neighbors with their ‘Brady Bunch’ house expansion plans … ’cause they fear lasting chaos. Various neighbors on the San Fernando Valley street where the iconic house…

TMZ.com

Indicted GOP Rep Changes His Plans

August 11, 2018 |

In an about-face, US Rep. Chris Collins is ending his re-election bid days after the Republican was charged with insider trading. Collins released a statement Saturday morning saying he will suspend his campaign and fill out the rest of his term, the AP reports. Collins was indicted Wednesday on charges…
Newser

Boston Globe Plans Strike on Trump’s ‘Dirty War’

August 11, 2018 |

A Boston newspaper is proposing a coordinated editorial response from publications across the US to President Trump’s frequent attacks on the news media. “We are not the enemy of the people,” says Marjorie Pritchard, deputy managing editor for the editorial page of the Boston Globe , referring to a characterization of…
Newser

SBI Plans Derivatives Platform, Huobi Eyes 30% Korean Market, Thai Four-Crypto ATM Unveiled

August 2, 2018 |

SBI Plans Derivatives Platform, Huobi Eyes 30% Korean Market, Thai Four-Crypto ATM Unveiled

Japan’s SBI Group is reportedly planning to create a crypto derivatives platform. In South Korea, Huobi is taking an aggressive approach and expects to achieve a 30% crypto market share. Meanwhile, a Thai crypto exchange has unveiled an ATM that supports four cryptocurrencies.

Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space

SBI Plans Derivatives Platform

SBI Plans Derivatives Platform, Huobi Eyes 30% Korean Market, Thai Four-Crypto ATM UnveiledSBI Crypto Investment, a subsidiary of Japanese financial services group SBI Holdings, has acquired a 12% stake in North Carolina-based Clear Markets, Nikkei reported Tuesday.

While the acquisition price was not disclosed, the news outlet estimates that the stake “is likely worth about 1 billion yen ($ 9 million),” elaborating:

Although digital currencies are more volatile than other asset classes, a derivatives market for them that can hedge against risk remains undeveloped. SBI Crypto therefore wants to build a platform that will allow institutional investors to smoothly trade these instruments.

Last month, SBI Virtual Currencies, the crypto exchange unit of SBI Holdings, opened its Vtrade service to the public following a limited launch in June. The exchange currently supports XRP, BCH, and BTC, but plans to add ETH in the near future.

Thai Multi-Crypto ATM

SBI Plans Derivatives Platform, Huobi Eyes 30% Korean Market, Thai Four-Crypto ATM UnveiledThai cryptocurrency exchange Coin Asset unveiled its crypto ATM at the Hybrid Summit on July 28 and 29, according to Prachachat Turakij newspaper.

CEO Sivanus Yamdee explained that the ATM allows customers to purchase and sell BTC, ETH, LTC, and BCH in amounts as low as 100 baht (~US$ 3). The company plans to add more coins in the future based on demand from customers. The ATM also allows withdrawals in Thai baht.

The machine has a large touch screen and prints out a receipt after each transaction.

Coin Asset has reportedly applied for a license with Thai Securities and Exchange Commission; the agency began accepting applications last week.

Huobi Plans to Achieve 30% Korean Market Share

SBI Plans Derivatives Platform, Huobi Eyes 30% Korean Market, Thai Four-Crypto ATM UnveiledChinese exchange Huobi is planning to aggressively pursue the Korean market, according to Asia Economic news outlet. The exchange launched its trading platform in Korea in March.

At the Huobi Carnival 2018 event on August 2 in Seoul, Kim Young-chul, head of the Strategic Planning Division of Huobi Korea, announced the company’s long-term strategy. He said:

The number of members has grown rapidly to 200,000 members within two months after the opening of the virtual currency exchange…We aim to achieve 30% market share in the next year.

In addition, Kim revealed that Huobi Korea will conduct various blockchain-based businesses alongside its exchange business. It will also actively recruit talented people. In February, Huobi Korea announced that it was looking for an “Innovation Business Team Leader,” a position with a minimum annual salary of 100 million won (~$ 88,596). “This policy will continue…We will hire more talented people in the industry,” Kim detailed.

What do you think of SBI’s derivatives platform, Huobi eying 30% market share in Korea, and the Thai crypto ATM? Let us know in the comments section below.


Images courtesy of Shutterstock, SBI Group, Huobi Korea, and Coin Asset.


Need to calculate your bitcoin holdings? Check our tools section.

The post SBI Plans Derivatives Platform, Huobi Eyes 30% Korean Market, Thai Four-Crypto ATM Unveiled appeared first on Bitcoin News.

Bitcoin News

South Korea Plans to End Major Tax Benefits for Bitcoin Exchanges

August 1, 2018 |

South Korea Plans to End Major Tax Benefits for Bitcoin Exchanges

The South Korean government has announced a new set of tax law amendments. Under this proposal, bitcoin exchanges will no longer be eligible for income and corporate tax deductions currently enjoyed by small and medium-sized businesses. The regulators have also been considering imposing capital gains tax on the sale of cryptocurrencies.

Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space

Stripping Away Tax Benefits

The South Korean government has announced its proposed Revised Tax Law 2018. In the official statement published Monday, the government wrote, “from next year, virtual currency handling businesses will be excluded from the industries eligible for the tax reduction for SMEs [small and medium-sized enterprises].”

South Korea Plans to End Major Tax Benefits for Bitcoin Exchanges
The South Korean government announcing 2018 tax amendments.

News1 explained that crypto exchanges “have been considered as venture companies or small and medium-sized businesses for tax purposes until now,” allowing them to benefit from considerable income tax deduction. Citing other favorable tax treatments such as depreciation of assets acquired during the first four years, the publication elaborated:

Under the current tax exemption rules, income tax and corporation tax are reduced by 50% to 100% for five years for business startups, SMEs and venture companies.

Crypto Exchanges to Pay Higher Taxes

South Korea Plans to End Major Tax Benefits for Bitcoin ExchangesAccording to the news outlet, the government has decided to exclude crypto exchanges from the list of entities eligible for SME tax deduction “because the cryptocurrency trading business lacks the effect of creating added value.” The revised tax law will be submitted to the National Assembly and, if passed, will go into effect next year.

Crypto exchanges are currently liable to pay corporation tax of up to 22%, Seoul Finance described, adding that “considering that virtual currency exchanges earned huge amounts of money in the last year and earlier this year, it is estimated that the amount of exemption would be considerably large.” The publication conveyed that under the current setup:

Bitsum exchange, which is estimated to have net profit of over 250 billion won [~US$ 223 million] last year, should pay 54.4 billion won [~$ 48.6 million] in corporate tax but it is expected to save 27.2 billion won [~$ 24.3 million] since it receives 50% reduction.

However, “taxation on the sale of cryptocurrency was not included in the amendment bill…based on the judgment that more research is needed,” the publication emphasized. “The government has been considering imposing capital gains tax virtual currency trading profits since early this year, but no specific taxation bill has come out.”

What do you think of the Korean government proposing to take away tax benefits for crypto exchanges? Let us know in the comments section below.


Images courtesy of Shutterstock and the Korean government.


Need to calculate your bitcoin holdings? Check our tools section.

The post South Korea Plans to End Major Tax Benefits for Bitcoin Exchanges appeared first on Bitcoin News.

Bitcoin News

Ginsburg Plans at Least 5 More Years on Supreme Court

July 30, 2018 |

If there’s a third vacancy on the Supreme Court during President Trump’s first term, it won’t be the result of Ruth Bader Ginsburg stepping down. The 85-year-old justice said Sunday that her senior colleague, John Paul Stevens, stepped down when he was 90, so she thinks she has at least…
Newser