Roundup – 20/10/18 – Only 39% pass Virtual Financial Assets in Malta & more

Only 39% pass Virtual Financial Assets exam in Malta

Malta passed a Virtual Financial Assets act that among other things states that persons that wish to deal with cryptocurrencies have to pass an exam. The exam is mandatory for persons who want to offer cryptocurrencies, ICOs, portfolio management or investment advice in Malta. As it turned out, the pass rate of the very first exam in September was very low with only 39%. Apparently, the Maltese authorities expected the result to be low  which is why the difficulty of the exam was lowered. Nevertheless, the results came back negative.

 

Japanese tax committee advises Japan to simplify crypto taxation

A tax committee that advises the Japanese government on taxation has recommended simplifying the process of taxing cryptocurrencies. According to the committee, the current process of filing taxes in Japan is too complicated. The process would frustrate many cryptocurrency investors. As a consequence, they would prefer to not file their taxes at all. The Japanese state would unnecessarily outlaw many cryptocurrency investors.

Cobinhood Crypto Exchange Is Now Offering Margin Trading

Goldman Sachs and Michael Novogratz are jointly revamping a secure Crypto wallet dubbed as BitGo. The new Crypto wallet is expected to be able to secure at massive amounts of Cryptocurrencies and to be worth at least $1 trillion. This is the capital injection that developers believe will be sufficient in revamping a state of the art Blockchain platform. Recently, the two parties kickstarted a fundraising initiative in which they were able to raise $58,5 million. The two were able to contribute $15 million in the fundraising. The funds will go towards the development of the Crypto platform that will be referred to as BitGo Holdings Inc., once it becomes a fully-fledged company on its own.

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Michael Novogratz And Goldman Sachs Are Revamping The BitGo Crypto Wallet

Cobinhood has launched the margin trade solution on its Crypto exchange platform. This feature will be available for COB/ETH, ETH/BTC, ETH/USDT, and BTC/USDT. The announcement was made on Thursday and the platform is expected to be live from today, Friday. Users will of the new feature will have access to margin funding, short selling, and margin trading.

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