Summary:
- China’s Internet Court in Hangzhou uses blockchain against plagiarism
- French Parliament rejects crypto tax changes
- Cryptocurrency market recovers as major coins experience large gains
Wednesday’s trading has brought some interesting news from the crypto world amid sharp rises seen across the board. The three largest cryptocurrencies - Bitcoin (BITCOIN on xStation5), Ripple (RIPPLE on xStation5), and Ethereum (ETHEREUM on xStation5) - have seen significant rises ranging from 8% to over 15%. Moreover, the capitalization of the whole cryptocurrency market has jumped to around the $128 billion mark.
Bitcoin has continued its increases today thus far. The largest cryptocurrency is trading around the $3825 handle at press time. Source: xStation5
Chinese Internet Court uses blockchain against plagiarism
The Hangzhou Internet Court adopted blockchain technology to fight against plagiarism, as China.org.cn reported. Writers used to use screenshots and other downloaded contents which were hard to legally confirm as evidence before court. Moreover, services of notaries and lawyers are costly. However, blockchain could be a solution for these problems as its structure allows to provide evidence which could be easily legally confirmed. China has established three Internet courts to handle Internet-related cases. They are localized in three Chinese cities - Beijing, Hangzhou, and Guangzhou. These courts are aimed to save time and reduce costs of judging.
Ethereum has gone up for the fourth day in a row, and it is moving a notch above the $107 handle at press time. Source: xStation5
French lawmakers reject crypto-friendly tax amendments
National Assembly, the lower house of the French parliament, rejected crypto-friendly tax changes on Monday. The proposed changes were aimed to lower crypto-related taxes for traders and users. One of the proposed amendments concerns an increase of an annual crypto tax exemption to 3000 or 5000 euros. Another suggested amendment proposed that crypto gains will be allowed to be taxed as gains made on securities. Let’s us remind that cryptocurrencies are currently taxed at 36.2% (19% - income tax, 17.2% - social contribution)
Ripple has been among top gainers increasing over 15% so far. Source: xStation5
