CryptocurrencyDennis Sahlstrom

crypto risk
Cryptocurrency
FINMA Says Banks Should Have A Risk Coverage Of 800% for Crypto
FINMA is a Swiss Financial Market Supervisory Authority who has advised banks and other financial institutions to use a risk coverage for cryptocurrencies of 800 percent of the current market value, according to recent news. What does a crypto risk coverage of 800 percent mean? The major local news outlet Swissinfo saw a copy of a letter from FINMA to the Swiss Association on Audit, Tax and Fiduciary (EXPERTsuisse). In…
Cryptocurrency
Student Faces $400K Crypto Tax Liability on Holdings Worth $125K
A California-based college student who turned $5,000 into $880,000 through trading cryptocurrency is now facing $400,000 in taxes. The crux? Following this year’s market-downturn, his current portfolio is only valued at $125,000. More specifically, this student recently took to Reddit to share his story and ask the cryptocurrency community for advice. In a post entitled ”Did I ruin my life by trading crypto?” the student recounted how this all began.…
Will The Crypto Market Break Through During 2019?
Cryptocurrency
Will Bitcoin Price Recover in 2019?
We have entered the last quarter of 2018. The valuation has dropped from over $800 billion to around $200 billion. Even though the price has been falling, the cryptocurrency industry has been developing, and the infrastructure is becoming more accessible. Why has the cryptocurrency market been falling during 2018? The cryptocurrency market has been tumbling down during 2018 and has stopped around the valuation of $200 million. Even though the…
40,000 Users Join Binance Uganda in Its First Week
Cryptocurrency
40,000 Users Join Binance Uganda in Its First Week
The cryptocurrency exchange Binance launched a Ugandan subsidiary this October. Now, Binance Uganda has revealed that 40,000 cryptocurrency traders joined the platform during the first week it was available. It is no secret that developing markets oftentimes show a marked appetite for cryptocurrencies. This largely stems from how traditional banking services can be hard or even impossible to access in such countries. Because of this, cryptocurrencies provide a viable payment…