New crypto coin Syscoin with binance lateste crypto news - News broadcast about finance business real estate loan insurance and forex trading crypto markets

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Friday, November 9, 2018

New crypto coin Syscoin with binance lateste crypto news

The topic of Friday's news coverage has been the Syscoin manipulation on the Binance Exchange during the week. In addition, the Finnish Tax Administration has published very heavy instructions on the taxation of virtual currencies for investors. Issues are also the article by the Finnish Bank on Bitcoin and the rebranding of Monaco Card.

Syscoin attack on Binance

Binance has been in the headlines for its Syscoin cryptov aluation. The Syscoin course saw a massive spike on Tuesday, due to price manipulation on the Binance Stock Exchange. In addition, Syscoin's own blockade chain was suspected of having been hacked.

Binanza was an API attack, which is more of a blow to Binanza's users. A similar attack was also made four months ago, which is described in more detail in this article.

API is an abbreviation for the Application Programming Interface, that is, the programming interface. With API, it is possible to build a personal program that reads information on the Binance Exchange and runs it there. Today, each Exchange has its own API, which enables professional retrieval builds bots and other tools for treating cryptographic currencies.

When cybercriminals had received API keys, they set their own Syscoin unquiet sales request (1 Syscoin = 96 Bitcoin). After that, they set up with the API keys the counterparty with an irrational purchase request, ie the victims of the crime paid hundreds of thousands of dollars from one Syscoin.

Binance halted the tread and the withdrawals after the situation was detected. Subsequently, the stock exchange also canceled transactions by criminals.

The name of the fund is a reference to the former twin manager of Changpeng Zhao, where he commented on Binanza's system upgrade. CZ is a trademark of "Funds are safe" when the system is disabled for reasons or reasons. A couple of weeks ago, however, he did tickle and wrote to Twitteri Funds are Safu! The word Safu stayed alive in social media, and now Binance took it fun for official use as well.

The heavy decision of the Tax Administration

The Finnish cryptoscene has been in the direct shock of the first week due to the recent guidance of the Tax Administration. This is no small matter, as the new tax model for virtual currencies is significantly different from the former.

Until now, Finland has taxed the profits earned by the cryptographic currencies only when they have been converted into Fiat currency (ie mostly Euros). If you bought Bitcoin Litecoins or changed your market down to your Bitcoin to Tetheri, these tricks have not been taxed.

New guidelines have already been issued on 29 May 2018, but according to Ylen's report, it was not reported on the Tax Administration's website until July 2 for translation work.

The earlier model in Finland has clearly departed from many other countries, since cryptophan is taxed almost everywhere. However, there is one important decision in the Tax Administration's Guide which really puts Finns at a loss: the losses are still not deductible. The example below explains the situation well.

Distributed virtual currencies have been acquired in several installments. Virtual currencies are considered to be released in the order in which Anu has acquired them.

Anu first sold 100 copies of the virtual currency A acquired on 1 January 2017. He has a tax deductible loss on this sale because the purchase price of a virtual currency (รก € 25 / pcs) is higher than the selling price (€ 20 / pcs)

Anu then sold 100 pieces of A virtual currency acquired on 1 February 2017. The tax on capital gains is € 1.000 due to the sale price of the virtual currency (€ 20 / € 2,000) higher than the purchase price of the virtual currency (€ 10 / € 1,000).

This is a quote from the official tax office of the Tax Administration. Its content can change over time, so check out the latest version of the guide from the Tax Administration website.

For example, a person can make big losses when selling the Bitcoins purchased in December before the package at a price of -50%. But at the same time, he still has to pay taxes on some other profits made in the Crusader Currency.

There is now a tough debate on Bitcoin and the cryptographic currencies in the Facebook group. You should take part in it and try to influence it before it is too late.

The Finnish Chrysanthemum Society Konsensus Ry will also hold a debate on Monday 9 July.

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