What a week! Bitcoin started a seven-day run from the $6900 mark, very soon it reached its year's high of $8300, after that it dropped for $1K just in 1 day. Currently, its condition is stable — $7K.
Against the background of these cryptocurrency market flights, something constantly happened: the tokens releases, blockchain updates, laws discussions... Therefore, we recommend you to read the most important news from the blockchain-world for the last seven days.
1. The US Congress is considering a bill called Token Taxonomy Act, which proposes tax exemption for crypto transactions under $600. Coin Center's executive director Jerry Brito stated it at the Consensus 2019 conference. The bill was first introduced in Congress in December last year. It proposes the exclusion of "tokens" from the "securities" definition, approved in the thirties of the previous century.
2. GE Aviation, which produces 60% of all aircraft engines in the world, will track parts manufacturing, as well as the delivery and operation of finished products on the Microsoft Azure's blockchain platform. According to David Haver, technical director of blockchain department, the technology will make it possible to structure critical data for this ecosystem in a single format and provide it to users.
3. On May 15 Bitcoin Cash hard fork led to technical problems on the network. Updated and non-upgraded nodes were divided into different chains, which is why the Bitcoin Cash network had become dangerous for transactions. The developers managed to create a patch and stabilize the system.
News from the world of cryptocurrency exchanges.
4. Coinbase conquers the world. This week it announced the start of working in 50 countries, now residents of more than a hundred states can use its services. At the same time, the exchange opens trades based on the USDC stablecoin, thereby trying to attract new customers with a non-volatile asset.
5. The New Zealand exchange Cryptopia could not recover from the January hack when about $16 million was stolen from its accounts. The process of liquidation has started, so trading on the platform is stopped. The process will last for several months.
6. Binance quickly came back to life after the last week's hack. At that time, 7,000 BTC were stolen — that was more than $40 million at the time of the hack. On May 15, the exchange announced a system update and the ability to withdraw funds. Also, Binance promises to distribute its 50,000 BNB tokens to customers whose trading volume exceeds 1 BTC.
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