Cryptocurrency Highlights Of The Week

Dogecoin founder Jackson Palmer has announced that he is leaving the cryptocurrency community, and New York’s BitLicense is expected to be finalized by the end of May. Here are the cryptocurrency highlights of week 17:

  1. Jackson Palmer has announced that he is leaving the cryptocurrency community due to the “toxic” ecosystem. Palmer took aim at the cryptocurrency environment, stating that “the cryptocurrency space increasingly feels like a bunch of white libertarian bros sitting around hoping to get rich and coming up with half-baked, buzzword-filled business ideas which often fail in an effort to try and do so.” As Palmer leaves the stage the cryptocurrency community loses one of its notable members, best known for creating the alternative cryptocurrency Dogecoin in December 2013. Dogecoin is still among the most popular cryptocurrencies today.

  2. Spain has confirmed that Bitcoin is exempted from Value Added Tax (VAT) in the country. The confirmation changes nothing, but clarifies Spain’s tax office stance with regard to the digital currency. The confirmation is expected to boost the Spanish Bitcoin market.

  3. The  New York Department of Financial and Services (NYDFS) is getting ready to finalize its BitLicense. The proposal to regulate Bitcoin was first announced in July 2014, and has been revised several times as a result of multiple commenting periods. The BitLicense is now expected to be finalized almost one year later, by the end of May 2015.

  4. Cryptocurrency exchange itBit is trying to become the first Bitcoin company to be regulated as bank in the United States. Spokespeople for both itBit and New York’s department of financial services where itBit has filed for a banking license declined to comment on the matter, but did confirm the application.

  5. The price of Bitcoin has managed to cease its losing streak and ended the week with a gain of $5 or roughly two percent per coin. One Bitcoin is currently trading at about $227.