Join our smart investors - Get the best stock directories in  blockchain, cannabis, crypto, AI, IoT, cleantech. Daily podcasts in cannabis and crpto. Just $99  a year

#Crypto Corner: France Cuts Tax Rates, Japanese Exchange Almost as Successful as Stock Exchange Operator and Australian Regulator Talks Crypto

 

Point Roberts, WA and Delta, BC - April 27, 2018 (Investorideas.com Newswire) Investorideas.com, a leader in crypto and blockchain investing news reports on what's driving the cryptocurrency markets with today's edition of Crypto Corner.

Crypto Corner - April 27, 2018

By Samuel Mowers at Investorideas.com

France Cuts Tax Rates, Japanese Exchange Almost as Successful as Stock Exchange Operator and Australian Regulator Talks Crypto

France's tax rate on cryptocurrency purchases was changed from 45 percent to 19 percent according to a report in Le Monde yesterday. This comes after a decision by the Conseil d'Etat to reclassify profit made from cryptocurrencies as capital gains of "movable property".

"Under this regime, gains from the sale of cryptocurrencies are considered industrial and commercial profits (BIC) in the case of usual activity, and as non-commercial profits (NBC) in case of occasional activity. This classification has specific tax consequences and results in a tax rate of up to 45% for income tax purposes, for the wealthiest taxpayers, in addition to the 17.2 % of generalized social contribution (CSG) also levied."

According to a piece in Bloomberg, Japanese crypto exchange Coincheck almost earned as much as the country's top stock exchange operator in the ten months from April 2017 to January 2018.

"Japanese cryptocurrency exchange Coincheck Inc. earned an estimated 53.2 billion yen ($490 million) in the 10-month stretch from April 2017 through January, according to its new owner Monex Group Inc. By comparison, Japan Exchange Group, operator of Japan's biggest stock and derivatives markets, made 71.8 billion yen in the 12-month period that ended in March, it said Friday. The figures illustrate how lucrative crypto-trading can be -- assuming bourses can avoid being hacked."

This is similar to yesterday's news of cryptocurrency exchange giant Binance recording a higher profit than Germany's largest bank, Deutsche Bank in Q1 of this year.

Australian Securities and Investments Commissioner (ASIC) John Price gave a speech at a Sydney FinTech event, wherein he outlined the country's ICO and Crypto regulations. Price said that while ASIC wants to see new technology succeed, the main priority is to protect consumers:

"We are determined - as are you - to see Australia's innovative fintech and regtech flourish in the right regulatory environment, and that means maintaining an open mind when it comes to new technologies and 'early-days' business models.

But - and this is an important 'but' - ASIC must be focused on both protecting Australian consumers and facilitating innovation across the financial services industry."

The development of innovative technologies like blockchain and ICOs has the potential to revolutionise how our society engages with financial products and services, but with revolution comes risk..."

Get the Crypto Corner News by email Get Crypto Corner News

Crypto Corner Sponsors:

Investorideas.com - NXT-ID Inc. (NASDAQ: NXTD) Subsidiary Fit Pay Flip<sup>TM</sup>

Flip™ is the creation of Fit Pay, Inc., a leading provider of cutting edge payment technology and a subsidiary of NXT-ID (NASDAQ: NXTD). By leveraging the FitPay Payment Platform™, Flip enables cryptocurrency holders to seamlessly exchange their cryptocurrency for US dollars and store that value on a contactless payment device that can be used to make purchases at millions of retail locations. https://www.fliptopay.com/

Preorder Flip


Investorideas.com is a leader in Blockchain content with its Bitcoin and Blockchain portals Bitcoinandblockchainstocks.com, Cryptocurrencyinvestorideas.com and Blockchaininvestorideas.com

View our growing Bitcoin, Blockchain and Digital Currency Stocks Directory

Join our LinkedIn Group Blockchain and Digital Currency Stocks and ICO's - Latest News and Commentary https://www.linkedin.com/groups/13560073



Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of investment. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Contact each company directly regarding content and press release questions. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. More disclaimer info: http://www.investorideas.com/About/Disclaimer.asp. Disclosure:  this newsletter is sponsored content by featured companies NXt-ID (NASDAQ: NXTD) on behalf of Flip and   GoverMedia Plus Canada Corp. (CSE: MPLS). More info: http://www.investorideas.com/About/News/Clientspecifics.asp

Cryptocurrency Disclaimer

Investorideas.com news content is not meant to be a solicitation to buy or sell cryptocurrencies and Investorideas.com does not directly sell cryptocurrencies; but acts as a news and research resource for interested investors following the blockchain sector.

Contact Investorideas.com  

800-665-0411