• China's flag and bitcoin
    Asia & Australia,  Cryptocurrencies,  Media

    Binance to The Block: STFU and let us do business in China

    The Block’s Larry Cermak opened a can of worms in explaining how Chinese citizens can use Alipay and WeChat, which ban cryptocurrency transactions

    Did the CEO of Binance, one of the largest cryptocurrency exchanges, threaten cryptocurrency media site The Block over a trio of tweets detailing how banned peer-to-peer cryptocurrency trading really happens in China?

  • Brooklyn_Nets_Spencer Dinwiddie (Tdorante10 via Wikimedia commons)
    Cryptocurrencies,  Innovators,  Regulation

    Spencer Dinwiddie plans rebound from NBA $13.5 million tokenization rejection

    The Brooklyn Nets star guard plans to meet with the league to argue that selling a cryptocurrency backed by his $34 million contract doesn’t violate NBA rules

    Despite league opposition, Brooklyn Nets star and cryptocurrency enthusiast Spencer Dinwiddie hasn’t given up on plans to tokenize his $34.4 million contract and sell it to investors on the Ethereum blockchain. On September 26, Dinwiddie announced plans to offer tokens worth up to $13.5 million of his three-year contract to investors, trading up-front cash for his per-game payments. His contract is guaranteed, so investors would not lose their money if he is injured. The next day, the NBA told Dinwiddie that the plan violated the league’s collective bargaining agreement with the National Basketball Players Association, which says a player cannot “assign or otherwise transfer” his salary, the New York Times…

  • Bittax VP Or Lokay Cohen at the Ethereal conference in Tel Aviv on September 15, 2019 (photo by Molly Jane Zuckerman for Modern Consensus).
    Technology

    How the IRS is cracking down on crypto taxes: A conversation with Bittax’s Or Lokay Cohen

    At this weekend’s Ethereal Summit, Modern Consensus delved into the murky waters of cryptocurrency taxation and its various pitfalls

    Or Lokay Cohen has been at crypto tax calculation service Bittax since 2016, which means that she may know more about how to file crypto taxes than any other person alive. Lokay Cohen told Modern Consensus that she came to the Ethereal conference in Tel Aviv on September 15 to meet other like-minded crypto people, as she was toying with the idea of using Ethereum-based smart contracts to pay your taxes automatically for the IRS.