Zcash had a successful hardfork, Bitstamp changed its owner. The regulator of Japan is confident that stablecoins are not cryptocurrency and they are not taxable.
The Zcash blockchain has updated the network, which will significantly improve the quality of work. On the 419200 block, the developers have done hardfork Sapling, now the time to create operations will be reduced by 10 times, and the space consumption will be reduced by 97%.
The community was positively perceived information about the upcoming update, although it led to temporary difficulties. So, assets from old wallets can be transferred to new ones only with confirmation of the transaction amount. To solve this problem, an automatic money transfer program is being prepared. The organizers say that thanks to the operation, Zcash received a second birthday. We have to admit that on this day the price of the coin decreased by 2%.
According to the explanation of the Financial Services Agency of Japan (FSA), stablebcoins are not cryptocurrency according to the rules of regulation. However, this rule only applies if the rate of the coin is tied to official fiat money.
The difference is that the taxation of stablebcoins is carried out by completely different rules. Their buyers and sellers are exempt from paying income tax. This clarification came amid news that the IT giant Japan GMO Internet reported on the planned launch of the coin in 2019, tied to the yen rate.
The new owner of the Bitstamp exchange will be an investment company from South Korea NXMH. In an official statement, which was distributed after the conclusion of the contract, states that the site will conduct activities in the same mode.
Its executive director, Neyk Kodrich, will retain his post. The exchange will continue to operate as an independent division of NXMH. Although the investment company received a controlling stake, it will have a minimal impact on operational activities. The parties assure that the transaction took place solely because of the close vision of the situation and the convergence of views on strategic development.