The Israeli tax-collection agency makes headlines in the latest crypto news today for targeting all of the cryptocurrency investors and traders in the country in their pursuit aimed to stop tax evasion.
According to the daily news info media Calcalist, the Israel Tax Authority has implemented some strict measures meant to successfully find the people who are suspects of not reporting gains that they gained via crypto investments and trading.
Some of the measures include sending notice letters to those who are suspected of not reporting their extra earnings from trading with cryptocurrencies. Some of the signs that help the agency to look after those individuals are frequent traveling outside of the country without evidence of the trip’s expenses and also people who have more than one real estate are targeted as well.
Another measure that the Tax Authority has taken is the process of opening tax accounts for those who have been suspicious and those who didn’t report gains made from crypto trading and the agency promises that the pursuit against tax evaders is just starting.
This decision comes only two years since the Tax Authority classified bitcoin as assets and noted that all other cryptocurrencies including bitcoin must be taxed as such.
The ITA noted last year:
‘’Bitcoin will be considered in accordance with the Income Tax Ordinance as asset and its sale will be taxed as a sale of property. Income from selling bitcoin will be classified as capital income and capital gains will be taxed according to fixed tax rates’’.
Telecom Giant AT&T Interested In A Blockchain-Based Social Media ‘Mapping’ System
“The social media history map platforms described herein may take advantage of the immutable and permanent nature of blockchain records to store, and provide access to, data representing online transactions that occur on multiple social media applications.”According to the filing, content creators would keep the ownership of their data on the "mapping" platform:
“However, instead of passing ownership of blocks or data between users, a social media account owner maintains primary ownership of his or her online transaction data. What passes from the social media account owner to other users of the social media history map service, such as followers of the social media account owner, is a notion of elevated visibility rights.”This is just one more patent application in the series that were submitted by companies such as Xerox, American Express, IBM and others - and a new milestone for AT&T overlooking its expansion in the field of blockchain.
Binance Labs Introduces Us To The ‘First Batch’ Of (Final) Blockchain Projects
TRON’s DApp Usage Jumps 48% To +1 Million Transactions Last Week
“This week, the 24-hour transaction number for Dapps reached 1.04M, a 48% increase compared with last week; the 24-hour trading volume hit 640M TRX, an 151% increase compared with last week. We have seen significant increases in both indexes […]”One of the most interesting projects built on Tron is Seedit which is a decentralized platform that lets users contribute funds to the content creators that they most appreciate. Project Atlas is also a well-known project which incentivizes people to seed content on the BitTorrent protocol, which was acquired by Tron back in July this year.
LinkedIn’s Largest Growing Job Sector Is Blockchain Development
“It’s no surprise that we’re seeing an explosion of machine learning roles and continuing growth of data science roles. In fact, we started to see glimmers of this in last year’s report; however, both fields are starting to see more specialized roles emerge. It also may not shock you that Blockchain Developer is topping the list following this year’s surge in interest around blockchain and cryptocurrency.”The great news for all of the people interested in a career in this sector is that there are plenty of universities now that adopt blockchain-related courses which help to boost the blockchain expertise in the following years.
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