TL;DR: Welcome to In Case You Missed It (ICYMI), a daily crypto news update. Iran bitcoin warning is issued, again, by a central bank official. Diar publication to abandon weekly format, refocusing on consultancy. Singapore proposes GST crypto exemptions. Bitstamp denies adding Lightning Network to its mobile wallet. Taringa to reward users with Dai token, and Ethereum-based mortgages coming this summer thanks to Fluidity.
Iran Bitcoin Trade Warning Issued, Again
The deputy governor for new technologies of the Bank of Iran, Nasser Hakimi, reminded trading (buying or selling) cryptocurrencies was illegal in Iran, in an interview with Tasnim, a national news agency. He also warned about common scam schemes and Ponzi structures to people interested in trading and investing in these new currencies. Iran bitcoin warnings are increasing in frequency.
Diar Moves Abandons Publishing, Changes Focus
A message to our readership re Diar's future pic.twitter.com/bdiaJpkcsx
— Diar (@DiarNewsletter) July 8, 2019
Diar, a renowned blockchain and cryptocurrency weekly publication, revealed they are abandoning their current format to refocus on “consultancy, research and advisory.” Fadi Aboualfa, founder and CEO of Diar, declared that the effort of trying to maintain the publication as a free service for the cryptosphere was “taken at discount,” implying the cost was just too big. Despite this, he mentioned they could still do ad-hoc reports from time to time to shine a light into global crypto and blockchain developments.
Singapore to Exclude Crypto Payments From Taxes
The Inland Revenue Authority of Singapore (IRAS), the country’s tax watchdog, proposed a new tax reform that would exempt cryptocurrencies from paying local Goods and Services Tax (GST), an equivalent of a VAT. If approved, it will overhaul the cryptocurrency payment system in the country and propel crypto spending due to saving something like 7%. Stablecoins, however, will still be taxed.
Bitstamp Hasn’t Added LN to its Wallet, Still “Experimental”
Unfortunately, we're not enabling LN deposits/withdrawals just yet. LN is still experimental and we'll have to wait until it’s stable enough before we offer Lightning services to our clients.
— Bitstamp Support (@BitstampSupport) July 8, 2019
Bitstamp, a Luxembourg-based cryptocurrency exchange, denied the possibility of using Lightning Network in their mobile wallets. Despite having added its own LN node to “help grow the network,” Bitstamp declared through a tweet on its official account they thought LN was still “experimental,” and they will not be enabling such transactions until it is “stable enough.”
Taringa Will Reward Users With Dai Token
Taringa, the Latin America equivalent to Reddit, partnered with AirTM, an online wallet provider, to reward users for posting content on the network with Dai, an Ethereum-based cryptocurrency. Dai is a very useful tool for the platform because it lets users be rewarded without having to worry about volatility, a common trait of the cryptocurrency market. A program called Pioneros will manage the trial which, if successful, could extend to the whole community.
Mortgages are Coming to Blockchain With Fluidity
The first mortgages managed with blockchain could be seen this summer in California, with a startup called Fluidity managing the whole process using Ethereum. Todd Lippiatt, chief architect, teased mortgage tokenization by declaring they’ll “tokenize the house, which will effectively take the collateral that is the equity of the house.” The startup sees a great opportunity in this business, targeting the underbanked and low-income borrowers who can repay these loans regardless.
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