Weekly News Overview: Cryptocurrency

Zermatt Switzerland Accepts Tax Payments In Bitcoin
Source: https://cointelegraph.com/
According to an announcement by Bitcoin Suisse, Zermatt started accepting Bitcoin as a means of payment for local taxes and transactions on Jan. 28, 2020.

By partnering with Bitcoin Suisse, the authorities of Zermatt are now able to convert taxpayers’ Bitcoin into Swiss francs through Bitcoin Suisse which then transfers the amount in fiat currency to the municipality’s bank account.

Bank of Japan Must Be Prepared To Release Digital Currency
Source: https://www.coindesk.com/
The deputy governor of the Bank of Japan has said the institution must be ready to issue a central bank digital currency (CBDC) should public demand surge in response to technical developments.
In a strong statement of a future-oriented vision for the bank, Masayoshi Amamiya told attendees at a seminar — as per a Reuters report on Jan. 30

Bittrex Secures UDS 300 Million Insurance For Cryptocurrencies In Cold Storage
Source: Google.com
Cryptocurrency exchange Bittrex obtained $300 million in digital asset insurance against theft or collusion for the cryptocurrency it holds in cold storage.

Bittrex announced in a blog post on Jan. 29 that the exchange obtained specialty insurance for corporations by insurance firm Lloyd’s of London after working with major insurance broker and adviser Marsh. The co-leader of Marsh’s digital asset risk transfer team, Sarah Downey, said, “We worked closely with Bittrex to create a tailored insurance solution to fit their specific cryptocurrency needs.”

Andrew Yang, US Presidential Candidate, Talks Crypto Ahead Of Iowa Caucuses
Source: https://cointelegraph.com/
United States Democratic presidential candidate Andrew Yang talked about cryptocurrency regulations ahead of the upcoming caucuses in the state of Iowa.

During an interview with Bloomberg Politics on Jan. 29, Yang said that there needs to be a uniform set of rules and guidelines when it comes to the use of crypto assets.

The presidential candidate added that crypto’s underlying blockchain technology is “very high potential and we should and we should be investing in it.” He added that people who want to invest in crypto assets could not be prevented even if regulators tried.

Binance US Trading Platform To Introduce Staking Rewards
Source: Google.co.in
Binance.US, the U.S. cryptocurrency trading platform of major crypto exchange Binance, will introduce staking rewards in February.

According to an announcement published by Binance.US on Jan. 29, staking rewards will be made available for Algorand (ALGO) and COSMOS (ATOM) starting next month.

$ 200K To Anyone Who Can Crack A Hack- Proof Wallet
Offline cold storage cryptocurrency wallet service provider GK8 is offering a bug bounty of up to $250,000 to the first person who can hack its product.

GK8 — which presents its solution as a “hack-proof digital vault” that needs no direct or indirect connection to the internet — will place 14 Bitcoin (BTC) (over $125,000 at press time) in its wallet. Anyone who succeeds in breaking into the wallet will pocket its proceeds, plus an additional $125,000 prize.

The bounty program will run from Feb. 3 (9:00 a.m EST) through February 4, 2020 (9:00 AM EST).

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