This week has been particularly interesting as talk on government regulation continues. Facebook’s Libra Project also faced major drawbacks this week as support for the project diminishes and as regulatory bodies warn again illicit use of crypto assets.
Looks like the taxman might want to know how much you’re really worth in crypto. This follows an added question to the 2019 United States Internal Revenue Service (IRS) tax form which requires you to report any virtual currency acquisitions either through receipt, sale, or exchange of any virtual currencies.
FC Bayern Munich has become the latest football club to announce blockchain-based digital merchandise to boost fan engagement. The merchandise will take the form of digital player cards and collectibles that allow fans to build virtual squads and play each other wtih outcomes derived bases on current form and historical data. More clubs are expected to follow suite.
The crypto markets continue to leave much speculation among industry stakeholders with the Bitcoin price moving haphazardly throughout the week. From a low of $7, 700 to a high of $8, 800 within five days, Bitcoin has consistently failed to hold a significant level with speculation of a future downside action being proposed.
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