THELOGICALINDIAN - A notable anniversary for Bitcoin Cash BCH the arrangement auspiciously upgraded the blockchain agreement by extending the block admeasurement to 32MB The change will acquiesce a greater cardinal of affairs to be candy with bargain and constant transaction fees Also Seminole County in Florida will acquire tax payments in both Bitcoin Cash BCH and Bitcoin Core BTC acknowledgment to a affiliation with Bitpay
Also read: Bitcoin in Brief Saturday: Warren Warned by Billboards, Coinbase Tempted by Banking
Bitcoin Cash Upgrades Blockchain Protocol
The Bitcoin Cash arrangement has calmly and auspiciously upgraded the blockchain agreement this Tuesday by extending the block admeasurement from 8MB to 32MB. The accomplishing of the new accord rules went into aftereffect at block acme 530356.
The change represents one of the better block admeasurement increases in blockchain history. The upgrade additionally includes an added absence data-carrier-size, from 80-bytes to 220-bytes, and re-enabling ahead disabled Satoshi OP_Codes, which could add the adeptness to cipher black bill and bifold contracts.
The fourfold block admeasurement access will acquiesce all-inclusive amounts of affairs to canyon through the arrangement with constant and bargain transaction fees. It additionally gives developers affluence of breath allowance to acclimatize the admeasurement if it starts accepting afterpiece to its absolute and paves a aisle for mass adoption. The block admeasurement banned are currently set by the miner, and developers are able to set the accommodation so that blocks cannot get abounding in the actual future. This agency that the fees will abide low for absolutely some time and additionally reliable, alike back transaction acceptance becomes as acute as in the aftermost division of 2017.
Bitpay Enables BCH and BTC for Tax Payments in Florida County
US-based crypto acquittal processor Bitpay has announced a academic acceding with Florida’s Seminole County Tax Collector, Joel M. Greenberg. Both Bitcoin Cash (BCH) and Bitcoin Core (BTC) can be acclimated for tax payments starting this summer. County association will be able to pay in crypto for disciplinarian licenses, ID cards, and alike acreage taxes.
“We alive in a apple area technology has fabricated admission to casework on demand, with same-day commitment and the apprehension of awful able chump service, and we should apprehend the aforementioned from our government,” Greenberg said. He added that the aim of his administration in appointment is to accomplish chump acquaintance faster, smarter, and added efficient, and to accompany government casework from the 18th aeon into the 21st. One way to accomplish that, the official says, is to add cryptocurrency to the accessible acquittal options.
China Ranks Almost 30 Cryptos, Finds Over 400 Fake Coins
The government of China, one of the aboriginal to ban cryptocurrencies like bitcoin, has appear out with official crypto rankings. The Chinese Center for Information Industry Development (CCID) will be anticipation arch agenda bill according to three above belief – innovation, technology, and appliance – although capacity about the activated alignment are yet to be shared. A absolute of 28 cryptocurrencies and their corresponding blockchains accept been ranked. Of the top four bill by bazaar capitalization, Ethereum was ranked first, followed by Bitcoin Core (BTC) at cardinal 13, Ripple is 17th, and Bitcoin Cash (BCH) – 25th. The Chinese top bristles accommodate Ether, Steem, Lisk, NEO, and Komodo.
Another assurance of growing absorption to cryptocurrencies in China is the advertisement of a report on affected bill by a government-backed industry organization. The National Committee of Experts on the Internet Financial Security Technology (IFCERT) has articular 421 affected cryptocurrencies. The alignment acicular out that 60% of these cryptos are deployed overseas. IFCERT additionally categorical some above red flags of the affected coins. According to the Committee, they generally accept “pyramid-based” business models and affirmation aerial returns. The cryptos accept no absolute cipher – they either do not accept a blockchain or cannot accomplish blocks for one. These bill are not traded on accepted exchanges, the address additionally notes.
US Government Launches Scam Crypto Site
The US Securities and Exchange Commission (SEC) has created and appear its own adaptation of an antecedent bread alms (ICO) betray website. “Combining the two best growth-oriented segments of the agenda economy, blockchain technology and travel, Howeycoin is the newest and alone bread alms that captures the abracadabra of bread trading profits and the action and affirmed allotment of the biking industry,” the apish SEC website claims. It promises partnerships in all segments of the biking industry and “earning bill you can barter for profit.”
“The accelerated advance of the ‘ICO’ market, and its boundless advance as a new advance opportunity, has provided abundant arena for bad actors to booty advantage of our Main Street investors. We embrace new technologies, but we additionally appetite investors to see what artifice looks like, so we congenital this educational armpit with abounding of the archetypal admonishing signs of fraud,” SEC Chairman Jay Clayton explained. He additionally acclaimed that broadcast balance technology can add ability to the basic adopting process, but promoters and issuers charge to accomplish abiding they chase the balance laws. “I animate investors to do their activity and ask questions,” Clayton said.
EU Adopts Rules to Reduce Anonymity for Crypto Users
This week, the European Union confused afterpiece to its ambition to abbreviate bearding crypto transactions. The EU Council adopted a directive, which updates the European anti-money bed-making legislation. The new rules appear with requirements for crypto platforms to acquaint know-your-customer procedures. The amendments were adopted at a affair of the General Affairs Council on Monday, afterward an acceding with the European Parliament anatomy December. In April this year, MEPs voted to abutment the accord to “bring cryptocurrencies beneath afterpiece regulation.”
The capital changes absorb acclamation the “risks affiliated to basic currencies” by demography accomplish to abate anonymity for both crypto traders and crypto-related transactions. Providers of barter casework amid basic and authorization currencies, as able-bodied as babysitter wallet providers, will be answerable to analyze apprehensive activities. The charge states that authorities should be able to adviser the use of cryptocurrencies through these platforms, and the civic banking intelligence units should accept admission to advice acceptance them to accessory crypto addresses with the their owners.
South Korean Regulators Widen Investigation of Crypto Exchanges
The government in Seoul is widening its delving on cryptocurrency exchanges absorption on the use of accumulated accounts for crypto transactions, which the regulators say can advance to money laundering. The convenance should accept been discontinued back authorities alien the real-name arrangement at the end of January. However, alone 30% of all crypto accounts accept been adapted into real-name ones so far. South Korea’s top banking regulators are now teaming up with prosecutors to widen the investigation.
The six banks that can affair real-name accounts accept called to alone account the country’s better crypto exchanges: Upbit, Bithumb, Coinone, and Korbit. Nonetheless, not all accounts at these exchanges accept been adapted into real-name ones. In addition, all baby and medium-sized exchanges abide to use accumulated accounts for crypto transactions. The regulators acquaint that the use of accumulated accounts can advance to fraud. The advertisement of the addition delving follows the barrage of an analysis on the better South Korean crypto exchange, Upbit.
What are your thoughts on the top belief we’ve covered this week? Let us apperceive in the comments area below.
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