“To Jail for Bitcoin” or a List of Countries Where You Should Not Mention Cryptocurrency 847

Bitcoin jail

Governments of leading countries around the world are still discussing the technological phenomenon of cryptocurrency and deciding what to do with it. There are no single international rules for the regulation of digital currencies, as long as this issue is solved individually within each individual state. In this article we will consider which countries recognized Bitcoin, where it was banned and what all of this will lead to for market participants.

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  1. Importance of cryptocurrency on the global scale
  2. Countries which recognized cryptocurrencies
  3. Countries which banned cryptocurrencies
  4. Conclusion

1. Importance of cryptocurrency on the global scale

We live in an era of active development of digital technologies that can change the world beyond recognition in a very short period of time. Cryptocurrencies have gained such popularity due to the fact that they are based on innovative blockchain technology. Now the market has a huge number of different coins and tokens. It is worth noting that the vast majority of them have no chance of a bright future. There are no guarantees that even Bitcoin itself will be the leader of the industry in 5 to 10 years. But what we can be sure of almost 100% right now, is that blockchain projects will be able to change the real sectors of the economy in the next decade.

The current situation is very similar to the boom and collapse of “dotcoms” at the beginning of 2000s. At that time, a huge number of search engines and other Internet resources were being developed, but only a few ones that have become real whales in this industry survived to this day

2. Countries which recognized cryptocurrencies

Saying the word “cryptocurrencies”, we mean, first and foremost, Bitcoin, as it is a reference point for the digital coin industry. It should be noted that most people, who are not very experienced in this topic, are convinced that Bitcoin is very popular among criminals, because you can make absolutely anonymous transactions with it. But this is only half true, since in fact Bitcoin’s transactions are not hidden, and in order to keep them secret, it is necessary to use special mixers, which, by the way, are constantly closed. To cut the long story short, achieving complete anonymity in the Bitcoin network is a rather complicated procedure. Other coins are better able to cope with this task, for example, Monero. Let’s go through the list of countries that have recognized Bitcoin as a means of payment or are on the way to legalizing cryptocurrency:

The US occupies one of the most tolerant positions as for cryptocurrencies. Given that this state has a key role in the global economy, this gives optimism to all market participants in the global perspective. Treasury classified Bitcoin 5 years ago as a company that provides financial services. Coins must be declared, they are regarded as property, thus, it is necessary to pay taxes if you own them.

Canada is also characterized by loyalty to cryptocurrencies. Regulatory authorities of the state are watching to ensure that coins are not used for money laundering. Cryptocurrency in Canada is regarded as a commodity, and transfers are considered barter. The tax code takes into account whether the transaction was an investment or a trade transaction.

Australia allows to carry out various operations with cryptocurrency. Tax Inspectorate classifies coins as a financial asset. They need to be declared, and the owners must pay taxes.

The European Union introduced mandatory verification of users this April. This should solve the problem of money laundering. According to the representative of the EU, in only a year about 5.5 billion dollars in cryptocurrency were laundered in the territory of member countries.

There is also a number of countries besides the abovementioned world giants, where Bitcoin is officially recognized. Today, we will not write about each of them, since at the moment they do not affect the world economy significantly.

3. Countries which banned cryptocurrencies

There are also states that perceive cryptocurrencies as a threat for various reasons, and protect their citizens from them in every way possible. So, let’s review the main ones:

China is the largest manufacturing center of the planet, China has a great influence on the world economy. In the Celestial Empire cryptocurrencies are prohibited for all financial institutions. However, they are completely legalized for individuals. Despite this, China is one of the key cryptocurrency markets of the planet.

Vietnam was opposed to implementation of cryptocurrencies at the dawn of their emergence. In this country, cryptocurrencies are completely prohibited for both individuals and legal entities.

Bolivia regards cryptocurrencies as financial pyramids. In this country you can go to jail for any type of cryptocurrency advertising.

Ecuador has banned all existing cryptocurrencies, but the authorities plan to create their own coins.

Also, there are countries where cryptocurrencies have not been determined with a legal status. For example, in the Russian Federation, the draft law on the regulation of cryptocurrencies was published only in January of this year, which does not prohibit their use, but specifically regulates their movement. In fact, this bill still has to be substantially finalized and reviewed by the State Duma. There is no clear time frame on this issue.

4. Conclusion

In fact, the countries where cryptocurrencies are legalized and controlled by the regulatory authorities are quite numerous. It is also worth noting that these states are the first-class states which control the entire civilized world. Decisions of states that totally prohibit the use of digital coins do not affect the world economy at the moment.

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SEC Sent a Request to Tesla Regarding Tweets of Elon Musk 477

musk wants to make tesla private

The Securities and Exchange Commission (SEC) has sent Tesla Inc. a request concerning its executive director Elon Musk and his messages on Twitter about the plans to privatize the company, reports The New York Times.

The regulator requests information from each of the Tesla directors . The Commission is interested in whether Mask had any actual grounds for such statements, and the SEC intends to find out why such important information was provided to them publicly, via the social network.

Last week, the directors were outraged when the head of Tesla wrote details of the deal to transfer Tesla from a publicly traded company to a private company.

The representatives of Tesla were sure that Elon Musk was “out of control” and asked him to stop discussing the situation in the company on Twitter. Nevertheless, Mask continued to publish messages on the social network, publicly revealing the details of the company’s strategy and issuing “dubious” information.

We remind you that Twitter has recently begun blocking accounts containing the name of Elon Musk.

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The SEC Has Shut Down Another Scam Project and Fined It $30 Thousand 457

sec shut down a scam

Although the new advisor of the Securities and Exchange Commission sees great potential in cryptocurrency, the organization keeps finding and liquidating suspicious projects and scams. This time the time has come for the company Tomahawk Exploration LLC.

Tomahawk promised its investors to be an intermediary and convert their funds into the shares of the company specializing in oil production. The prices of oil would go up, and the investments would grow correspondingly.

It does sound tempting, but the ICO turned out to be just another scam in the list of the SEC. The Commission has shut the company down with a fine of $30k, also the ex CEO of Tomahawk is not allowed to hold any leading positions of any enterprise or own any company shares.

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The Bitcoin Application from Square Is Now Available in All Fifty States of America 477

square is available all over america

Buying and selling Bitcoins through the Cash App from Square has become possible in all US states.

We remind you that the American technology company Square, Inc. allowed the purchase and sale of Bitcoin for all US citizens in January of this year. The exception was Wyoming, New York and two other states because of the difficulty in regulating the issue of the cryptocurrency. Later, Square received a certificate from BitLicense, which allows it to work legally in New York.

In late spring of this year the number of Cash App users exceeded 4 million people.

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A Review of the Odyssey Project or How to Transfer the Sharing Economy into Blockchain? 910

According to many experts, in the next couple of decades humanity will switch to the economy of general use (or sharing). This will concern many things that are accepted today (car, real estate, etc.). Within the framework of this article, we will tell you how this, not yet implemented common-use economy can be transferred to the blockchain. So, the review of the Odyssey cryptocurrency.

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  1. What is the Odyssey cryptocurrency?
  2. Odyssey in figures
  3. Forecasts
  4. Conclusion

1. What is the Odyssey cryptocurrency?

The main mission of the project is to combat the centralized sharing economy. In the near future, as the developers themselves assure, joint use will be quite ordinary, and personal possession, on the contrary, will become an unacceptable luxury. That is, within the framework of this economic model, You will not personally have anything, but You will be able to use what you want. Such an approach should lead mankind away from the consumer society and substantially raise the overall level of well-being.

This project comes from Singapore; its main idea is the creation of a decentralized version of the economy of the future, which will be oriented towards the common use of various things. The developers want to significantly reduce costs and increase the efficiency of marketplace applications, as well as create their own Odyssey system.

The main consultant of the project is the general director of TRON Justin Sun. Major Odyssey investors are:

  • Eddie Wu, Alibaba’s co-founder;
  • investment trust Vision Plus Capital;
  • TRON Foundation, etc.

The main principles of Odyssey:

  • everything can be combined and shared;
  • everyone has the right to possess information;
  • all participants in the system can count on income, which will depend on their initial contribution;
  • there should not be a monopoly in the sharing economy;
  • the new economic model will be effective only if it becomes autonomous.

Summarizing, we can say that the Odyssey system is a kind of marketplace for sharing, based on blockchain technology.

2. Odyssey in figures

This coin appeared relatively recently, only in early 2018. If you look at the chart, you can see that Odyssey’s currency exchange rate has significantly decreased from $0.09 to today’s $0.003.

The total issue is 10 billion tokens, now 4.75 billion are issued. Market capitalization as of mid-August 2018 is slightly more than $17 million. The coin takes the 244th place in the global rating of CoinMarketCap.

3. Forecasts

The Odyssey (ocn) cryptocurrency is now showing a negative yield, it is, to a large extent, related to the general trend in the market. It is rather difficult to predict the price of cryptocurrency in such conditions. Nevertheless, this project is potentially promising for the following reasons:

  • developers follow the schedule written in the project road map;
  • in the future, it is planned to create its own stock exchange;
  • the team actively works on the project, periodically consults the community through polls, voting, etc .;
  • the Odyssey project is closely connected with TRON, which ranks 12th in the rating of all cryptocoins;
  • economy of common use is the vector where the movement of mankind has already begun.

4. Conclusion

If you plan to invest in Odyssey, you should count on a long time, because the project is still too young and for its development there is still a lot to do. The sharing economy is also not tomorrow and not even in a year will become the norm, so that the global Xs in the near future should not be waited for. Also do not forget about diversification of your investment portfolio, this will significantly reduce the risks of a complete loss of capital. The Coin Shark continues to monitor the news of the cryptocurrencies and look for new promising projects.

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Top Books About Blockchain and Cryptocurrency Which Are Worth Reading 2966

top crypto books

Cryptocurrency and blockchain became so popular that people started writing books about them, and if more than 1,000 books on this topic have already been written in the West, then in the CIS countries people came to this only in early 2017. Such literature makes it possible to more clearly understand all the nuances, positive and negative aspects of the blockchain technology. Below we compiled a selection of the best books about digital currency that will help you get all the knowledge you need about the crypto world.

1. “Bitcoin for Dummies” – Williams, 2017.

This book will tell you in detail about all the subtleties of working with digital currency, the authors touch absolutely all vital aspects of the blockchain. Having studied the stated information, you will get knowledge about the nature and formation of bitcoin. One of the main advantages is that it describes all the risks that keep up with the cryptocurrency. The author focuses attention on cyber security. Having studied the stated information, you will master the system of blockchain’s work, you will be able to protect yourself from cyber scammers and correctly implement the cryptocurrency at the exchange.

2. “Digital Gold: Bitcoin and the Inside Story of the Misfits and Millionaires Trying to Reinvent Money”- Nathaniel Popper, Williams, 2016.

Nathaniel Popper, together with Williams, wrote an amazing and most truthful story about the emergence and implementation of bitcoin in the general turnover, as well as those individuals in its history who hindered and helped it. The story goes on behalf of different people: Satoshi Nakamoto, the brothers Winklevoss, various millionaires and bankers. An important component of the book is the analysis of the reasons for which the blockchain entered the general circulation.

3. “Blockchain Revolution: How the Technology Behind Bitcoin Is Changing Money, Business, and the World”- Don Tapscott, Alex Tapscott, 2017.

The book narrates about the cryptocurrency as a means of business breakthrough. It can be divided into two parts: in the first there is a story about the system of work of the blockchain, its strengths and weaknesses, and also there is an analysis of all those pressing financial problems that can be solved with the help of blockchain. In the second part there is interesting information that sheds light on the causes of the blockchain’s impact on the global and the involvement of more and more investments in digital currencies.

4. “Bitcoin – the people’s money” – Adam Tepper, 2016.

The author of the book is Adam Tepper, a general director of several companies, a successful programmer in the past. In his book he described the importance of bitcoin as a universal financial means. Bitcoin in this book is described as an object of universal attention, as the engine of the financial market. The book pays much attention to investments in crypto assets. The author claims that it is necessary now to invest in digital currencies, since in the near future their price will grow, and all thanks to their introduction into the overall turnover.

5. “Mastering Bitcoin” – Andreas Antonopoulos, 2017.

The author of the book is Andreas Antonopoulos – the founder of bitcoin business in London and the director of several start-ups, a former software engineer. The book describes all the details of digital coins, predicts the development of cryptocurrencies, their introduction into the global financial market and regulation by different countries. The book is divided into 2 parts: the first is aimed at inexperienced people in the crypto world, the second – at investors and people who want to start their business using the cryptocurrency. It should be noted that this book is perfect for students of economic universities that study

digital currencies.

6. “Blockchain: Blueprint for a New Economy” – Melanie Swan, 2017.

The book tells about the nature of blockchain technology. The first part is devoted to beginners and will help them familiarize themselves with the principles of the registry, according to the author this is the main stage before studying bitcoin. The second part is devoted to the indivisibility of the blockchain and bitcoin. The author claims that today’s work of the blockchain will be transformed into something else in the future.


7. “The Internet of money” – Andreas Antonopoulos, 2018.

This book was written by Andreas Antonopoulos after the publication of her previous book “Mastering Bitcoin”. In general, these books are similar in content, but if in the first book the main question was “How?”, then in the second it is “Why?”. The process of the formation of the cryptocurrency as a financial engine and the potential for its development are described in detail. The main idea of the book: “The Internet is not a phone, bitcoin is not money.”

8. “The Age of Cryptocurrency: How Bitcoin and the Blockchain Are Challenging the Global Economic Order” – Paul Vigna, Michael Casey, Mann, Ivanov and Ferber, 2017.

The book is telling about the influence of news and imaginary panics on the course of digital currencies, about their influence upon international economic market. The book also contains research of the blockchain’s importance in modern realities: how it was created, its functions and what to do in order to join the new world of economy.


So, we’ve finished our list of top-10 literature about bitcoin. Having read at least a half of these books, you will come to know all the particulars of cryptocurrencies and blockchain technology. The information, stated in these books, is an invaluable source of knowledge for any beginner in the crypto world, however even an experienced user will find here something new and unusual.

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Is Russia Following the US by Banning Crypto Ads? 979

crypto ad banned in russia

As we have reported earlier, some states have very little acceptance of cryptocurrency. Though the status of digital coins is still questionable in the US, their advertisement is blocked from major sites and social networks, such as: Twitter, Google, Facebook, Instagram, Snapchat, etc.

The situation in Russia is quite different, cryptocurrencies do not have any status in this country. Nonetheless, the official bodies have apparently started following the example of their western colleagues.

According to a local news media, the Moscow court has fined the newspaper “Edinstvo Nizhnekamsk” 50 thousand roubles (approximately $750) for publishing the ads on cryptocurrency investments. This turned out to be a violation of advertising laws of the country. Later on, the fine was replaced by an official warning.

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