Summary:

  • Bitcoin managed to stay above a $8000 mark, BoE’ Mark Carney helped virtual currencies
  • Price Waterhouse Cooper, a company being a part of a big four accounting firms group, announced its blockchain auditing service
  • The Senate of Wyoming (US) is going to exempt cryptocurrencies from property taxation

The entire cryptocurrency block had quite a tumultuous weekend as traders and other crypto pundits await the G20 summit kicking off in Argentina today. Let us remind that there were some revelations that the summit could be an important event for cryptocurrencies as members are expected to talk about implementation of a common regulatory framework used around the world. Before we get some remarks from Argentina it’s worth writing about some comments coming from Bank of England Mark Carney who said that digital currencies do not pose risks to financial stability. He added that even at their (cryptocurrencies) peak, their combined global market value was less than 1% of global gross domestic product which seems to be negligible compared to the global financial crisis taking place a decade ago when the notional value of credit default swaps was 100% of global GDP.

link do file download linkBitcoin managed to stay above its notable support zone at around $7650 which could lead to a bounce toward $9350 where the nearest resistance is placed. Source: xStation5

Price Waterhouse Cooper makes a big announcement related to blockchain

Price Waterhouse Cooper or PwC announced a blockchain audit service which was aimed at encouraging people to use the new technology. How is the service going to work? The service will allow firms to offer an outside review in order to show them how to make use of the still new technology and informing them how to efficiently implement it. Having said that, the company is cognizant of some hurdles which need to be overcome including legal and compliance concerns within companies and organizations, issues of corporate controls as well as risk management. The PwC said that as for the last Friday it had two customer using its new service including a major stock exchange and a digital wallet provider.

link do file download linkLitecoin is bouncing back from a lower limit of a descending channel, hence a move toward $175 could be expected. If the price breaks above it, the virtual currency might experience a larger swing to the upside. Source: xStation5

Wyoming becomes the ninth US state with no taxes on cryptocurrencies

The Senate of Wyoming passed a bill exempting digital currencies from property taxation in the state. Tyler Lindholm, State Representative, said that if you mine Bitcoin there is no longer a property tax, income tax and corporate tax placing the state in a group of nine US states having no income tax. Lindhold added that the state has a lot of excess electricity, exporting most of its total production capacity and implementation of the new bill is to lure Bitcoin miners to move there. According to the US Energy Information Administration, Wyoming produces about 40% of all coal mined in the country.