Comcast Ventures Bulish On Bitcoin Regardless Of Price

The Managing Director of Comcast Ventures, Gil Beya, believes that bitcoin has intrinsic value whether the price of bitcoin is $10 or $10,000.

He said in an interview with CNBC that initially bitcoin was viewed as a “get-rich quick” financial scheme but now as more consumers learn more about its applications and what it could bring especially to those in under developed countries more value and use case will be discovered.

It will provide a via alternative to the citizens of these country that centralized financial institution or government has failed them.

German’s Whales Crypto Exchange

Wertpapierhandelsbank AG (VPE) has launched Germany’s First institutional investor trading services.

It’s spokesperson Katharina Stenski said that up until now institutional investors have been dealing with difficulty in entering the crypto sphere as none of the available marketplace in the country has the necessary secure and comply with regulations.

Armed with a Bundesanstalt für Finanzdienstleistungsaufsicht (Bafin) license she believes that BPE will offer “best-in-class technology” that is secure and regulated. VPE is a German centric exchange-based OTC trader.

It has partnered with Solarisbank to do automated crypto trades which is has a full banking license.

Binance Investing In Bermuda

The government of Bermuda and cryptocurrency giant Binance have reached an agreement that will help both parties to expand and develop cryptocurrencies competency and usage.

Binance plans to set up its new global compliance center in Burmuda in the coming months and have committed to invest $10M toward educational program related to cryptocurrencies and another $5 for Blockchain startups.

It will also help the Bermuda government to develop regulatory framework to ensure that their initiative is legal and well regulated.

David Burt, the Premier of the country reveals that there will be new legislation that will regulate Initial Coin Offering (ICO).

Ethereum To Reach $2,500 By Year’s End

Founder and CEO of deVere Group has a very bullish outlook for the second largest digital asset in the crypto space in terms of market capitalization, Ethereum.

In an email to a an online publication he predicts that Ethereum could reach $2,500 by the end of 2018 with upward trend to continue in 2019 and 2020.

This is due to several factors as more platforms will be using the Ethereum network in trading, increase of projects that will use Ethereum's smart contracts functionality and cloud computing that will be more decentralized.

The release of Amazon Web Service’s (AWS) Ethereum framework templates is a prime example of industry giants’ positive stance on Ethereum platform.

European Country To Lower Taxes On Cyrptocurrencies

France has altered the tax rates of income generated by cryptocurrencies.

The previous rate of revenues generated with cryptocurrency goes as high as 45% as it was categorized as an industrial and commercial profit (BIC) or as non-commercial profit (BNC).

Recently, last April 26, has re-classified it to be capital gains of “movable property” with a lower and fixed rate of 19%.

Not all crypto related activities will benefit to this new classification of income as Mining, no matter how small or big will still be classified as BIC or BNC tax classification.

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