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ICO as a trend, taxes in South Korea, Bitcoin-ETF from Bitwise

01/14/2019
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  • Bitcoin_ET_SEC
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ICO became a trend in 2018, South Korea introduces tax holidays for blockchain companies. Bitwise filed an application with Bitcoin ETF with the SEC.

ICO as a trend of 2018

According to MarketWatch research, 2018 turned out to be a record number of ICOs in the United States. A total of 287 companies were found, attracting investors in this way. Moreover, only those projects that fully comply with the requirements of the Securities Commission were taken into account.

To meet the requirements of US law, startups use the simplified form D. It greatly simplifies the registration procedure, but allows you to work exclusively with qualified investors. Earlier, SEC head Jay Clayton said that the Commission sees the ICO as a priority goal for the near future. Although he acknowledged that this form of fundraising carries an increased risk for investors.

ICO as a trend of 2018

South Korea announced tax holidays

The government of South Korea decided to exempt companies from the blockchain industry from taxes. This is done in order to spur the development of scientific and technical progress in the field of finance and information transfer. As a result of this decision, companies can save up to 40% of the budget, directing them to study promising sectors of the economy.

In total, 16 areas of business will fall under the law. These include robotics, ecology and other innovative areas of activity. The country's finance minister said that as of February 2019, these companies will be exempted from paying taxes.

South Korea announced tax holidays

New appeal to the SEC for recognition of Bitcoin-ETF

Bitwise financial instruments management company Bitwise submitted an application for registration of a new Bitcoin-ETF fund. In case of a positive decision, SEC will trade on the NYSE Arca exchange, where options and securities are now being traded.

Last year, the SEC rejected such applications several times, and now it already has a request for approval from VanEck and SolidX. The companies plan to start trading cryptocurrency contracts on the Chicago Stock Exchange (CBOE). Until the end of January, the agency must issue a final verdict on this issue. It has already postponed its consideration twice

The list of cryptocurrency funds may expand

New appeal to the SEC for recognition of Bitcoin-ETF

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