Tag: Cryptocurrencies

Chicago: The Next FinTech Cryptocurrency Powerhouse

Rafael Augusto | @ancient_scrolls

During a FinTech meeting held in Chicago on March 18th, Mayor Ralph Emmanuel made it very clear that he wants his “Windy City” to pioneer the ongoing worldwide crypto revolution.

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Jennifer Robertson of Quadriga CX Burnt Out from Scrutiny

Rafael Augusto B.L. de Oliveira | @ancient_scrolls

With the unexpected death of Gerald Cotten, CEO and founder of Quadriga Fintech Solutions Corp., his widow Jennifer Robertson has found herself in the middle of a complicated legal battle. She is facing off in defense of her husband’s legacy against former Quadriga CX investors and customers. Robertson never thought this was going to be a simple process. She has admitted that she has little to no experience dealing with Bitcoin, let alone running a company. But what came as a surprise for her was the amount of blowback she is receiving.

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Law Firms Rush to Represent Quadriga CX Clients

Rafael Augusto B.L. de Oliveira | @ancient_scrolls

Cryptocurrency often breeds a great deal of uncertainty. After all, many places still view it as the new kid on the block(chain). Clearly, respect for cryptocurrencies has increased. After all, some governments and companies are going through great lengths to attempt to control it and profit from it. There is still a lot of bias against using these paperless currencies; some still look down at cryptocurrencies with suspicion and distrust. This is especially due to the fact that cryptocurrencies are decentralized and often anonymous. Nevertheless, the adoption and value of those currencies have skyrocketed. But soon, Canadian company Quadriga CX may not find much of either.
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Ron Paul: Exempt Cryptocurrency from Capital Gains

By Trey Johnson | United States

President Donald Trump and Ron Paul actually agree on something: Americans need to audit the fed. Trump has said recently, “I really disagree with what the Fed is doing” on the topic of raising interest rates. Of course, both political leaders have reasons for concern: the U.S. dollar has lost over 96% of its value since the inception of the Federal Reserve in 1913.

Paul has also repeatedly called for an audit of the Federal Reserve. His son, too, shares this same belief. Rand Paul has put forth legislation to audit the fed and it indeed includes an exception for cryptocurrencies.

The first steps are passing the Audit the Fed bill, allowing people to use alternative currencies, and exempting all transactions in precious metals and cryptocurrencies from capital gains taxes and other taxes. -Ron Paul

Spending cuts are probably the next thing Americans need, next to aggressive tax cuts. The inclusion of these tax cuts, however, will not entice Democrats standing on the opposite side of the aisle, preparing to resist. Generally in favor of higher taxes than Republicans, their support for capital gains exemptions may be low.

The Federal Reserve has never had an audit before, in its more than 100-year history. In past votes, Democrats have shown little support for the plan. However, some have dissented and shown support, including left-leaning Independent Bernie Sanders.

Federal Reserve Danger

Ron Paul is able to point out the apparent near danger that the Fed’s fiat currency manipulation has caused:

In contrast to market money, government-created fiat currency is anything but stable. Central banks constantly increase and decrease the money supply in an attempt to control the economy by controlling the interest rates. This causes individuals to misread market conditions, and … eventually, reality catches up to the Federal Reserve-created fantasies.

Paul’s words come at a time when cryptocurrency is, relatively speaking, stagnant. However, many market analysts suggest that the rest of this year and 2019 will bring a revival.


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