Cryptocurrency Highlights Of The Week

The first decentralized Bitcoin exchange was launched this week and Expedia has reported a significant decline in BTC transactions. Here are the cryptocurrency highlights of week 30:

  1. The first decentralized Bitcoin exchange became a reality this week with the launch of the Coinffeine desktop wallet. This wallet has an integrated P2P Bitcoin exchange. With its exchange Coinffeine offers a similar user experience to traditional Bitcoin exchange, but without the need for a potentially risky centralized exchange. It also does not require KYC like traditional platforms. Users only need to connect their OKPay account to use the exchange. More payment processors are expected to be added in the future.

  2. Another reason for launching a decentralized exchange was provided this week by Bitcoin exchange with the arrest of two of its operators. Anthony R. Murgio and Yuri Lebedev have been arrested on accusations of working without a money transmission license and violating federal anti-money laundering statutes, with the goal of helping individuals launder money.

  3. The Canadian Revenue Agency has concluded that Bitcoin must be considered a “specified foreign property” according to section 233.3 of the Income Tax Act. If the aggregate cost of these properties exceeds $100,000 CDN taxpayers will have to file a Form T1135. The clarification is the latest addition to the diverse tax treatments digital currencies get in different countries.

  4. Expedia has provided some confirmation to the notion that consumer interest in Bitcoin is declining. Senior payments product manager, Connie Chung, has revealed that payments with the most popular cryptocurrency have declined by approximately 40 percent, in-line with the decline in price over the past year (despite the recent spike). Expedia integrated Bitcoin as a payment method in June 2014.

  5. Bitcoin is back on the rise this week, up more than four percent or almost $12 per coin compared to the previous week. The current exchange rate is about $289 per Bitcoin, which is still well below the $315 that would have been paid at the start of the year.
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