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- Bitcoin Price Analysis
- Azerbaijan to Tax Crypto Incomes and Profits
- Standard Chartered Bank begins using RippleNet for Fast Transactions
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Cryptocurrency News Update 06-05-2018:
Bitcoin price is surging between $9,500 to $9,950 in last 24 hours. Investor and analysts believes that bitcoin price can cross $10,000 this week. Monday to Wednesday will be more important for price ups and down. Today bitcoin value is about $9,600, on reporting time which is a down value recorded from $9,932 within few hours. On 06 May, 2018 bitcoin touched the highest value of $9,964 and observed lowest at $9,695. Opened at $9,700 and closed at $9,858.
Azerbaijan to Tax Crypto Incomes and Profits
The profits of all resident enterprises in Azerbaijan are tax under the Azerbaijan’s tax code. Nowadays, the corporate profit tax rate stands at 20 percent. The personal income tax is progressive and money earned by residents both home and abroad is taxed by the government. Incomes of less than 2,500 AZN a month (which is near of $1,500) are taxed at 14 percent, and 25 percent tax is imposed on the amount exceeding said limit. Reported on News.Bitcoin
Indian Company Challenges Ban on Crypto Banking
An Indian crypto trading company has also raised another challenge to the ban imposed by the Reserve Bank of India on banking services offered to companies and individuals dealing with cryptocurrencies. In its petition, Flintstone Technologies contends that the reserve Bank of India’ circular has “fenced” all regulated entities from providing services to any individual or business dealing in virtual currencies, without mentioning any reasons for its decision to impose the restrictions.
Standard Chartered Bank begins using RippleNet for Fast Transactions
Standard Chartered is a company from London which offers financial and banking services. They just revealed their plans to extend their use of Ripple (XRP) network RippleNet. The plan involves providing payments across the border for more five pairs by the end of 2018.
The company is popular mostly for its operations involving a large network that includes more than 1,200 branches and outlets. The company has businesses in more than 70 countries, providing workplaces for over 18,000 employees. Standard Charted Bank going to use RippleNet for faster cross border transactions.