Summary:
- Romania introduces tax on crypto earnings
- Nasdaq CEO: “Cryptocurrencies could still be a global currency of the future”
- Dash experiences the third day of rises
Wednesday has not brought any major movements for top cryptocurrencies so far, thus it has been another day of faint trading in the cryptocurrency market. According to CoinMarketCap, the capitalization of the whole crypto market stands a notch below the $121 billion handle whereas Bitcoin accounts for 52.3% of this value.
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Wednesday seems to be another quite boring day for the largest cryptocurrency Bitcoin (BITCOIN on xStation5) as it has not experienced any major movements thus far today. Source: xStation5
Romania introduces tax on crypto earnings
Romania introduced a 10% tax rate on cryptocurrency earnings. The new law entered into force on January 20, 2019. As a result, cryptocurrency earnings are classified as “income from other sources”. However, earnings from single transaction, which are below 200 Romanian leus (it’s around $50), are exempt from this burden. Nevertheless, if the cumulative amount exceeds 600 Romanian leus, crypto investor pays 10% tax on gains it made.
Ripple (RIPPLE on xStation5), like its bigger peer Bitcoin, has been trading quite calmly so far today. The second largest cryptocurrency is situated around the level, on which it started the day, at press time. Source: xStation5
Nasdaq CEO: “Cryptocurrencies could still be a global currency of the future”
Adena Friedman, CEO of Nasdaq, wrote some remarks concerning cryptocurrencies on her LinkedIn profile. Friedman said that cryptocurrencies have gone the first phase of the classical invention lifecycle. Moreover, she wrote that there would be two possibilities of further situation - cryptocurrencies could “find a practical utility” and integrate “into the economic fabric” (such as Internet), or they could “fail to achieve broad adoption” and have only limited applications (such as Segway). “The invention itself is a tremendous demonstration of genius and creativity, and it deserves an opportunity to find a sustainable future in our economy”, Friedman added speaking about cryptocurrencies in her LinkedIn post. To sum up, Nasdaq CEO said that they believed “cryptocurrencies will have a role in the future” if the 2019 would be “another proving ground for cryptocurrencies”. At the end of a paragraph concerning cryptocurrencies, Friedman wrote that the impact of cryptocurrencies would depend on changes of crypto regulations and wider institutional adoption of them.
Dash (DASH on xStation5) has increased for a third consecutive day. As a result, the cryptocurrency is trading a little above the $71 mark at press time. Source: xStation5
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