Caitlin Long Against The Recently Released Rhode Island Crypto Tax Proposal
During the last few years, several jurisdictions have been trying to regulate the virtual currency market. Cryptocurrencies and blockchain companies expanded all over the world and the legal framework was not able to follow the developments in the crypto space.
This time, Rhode Island has proposed new tax regulations for virtual currencies. The intention seems to tax software development and R&D as well. The new Rhode Island Senate Bill No. 251 presented is titled: “An act relating to taxation — sale and use tax–non-collecting retailers, referrers, and retail sale facilitators act.”
The summary of this act reads as follows:“This act would extend the requirement to collect sales tax to remote sellers in a way that conforms to a recent U.S. Supreme Court decision making it easier for states to compel collection of the sales tax from retailers who do not have a physical presence in their state.”
The intention is also to assess sales tax on marketplace facilitations, including those that provide cryptocurrencies used by buyers to pay for services.
#RhodeIsland looks to assess sales tax on marketplace facilitators including those who provide a #virtualcurrency used by buyers to obtain services. The states are pouncing on this new source of sales tax rev in the wake of South Dakota v. Wayfair (https://t.co/rTY2adUrty) pic.twitter.com/tBYoONpxVp
— Drew Hinkes (@propelforward) February 9, 2019
Caitlin Long, a crypto supporter and Wall Street veteran wrote on Twitter that companies should leave states that do not want blockchain technology to enter the market. Caitlin Long has been working in Wyoming to propose regulations to attract crypto and blockchain companies to the state.
ARE YOU KIDDING?? Check out #RhodeIsland #crypto tax proposal—it’s so broad that it includes taxing software development + R&D. Get out of states that show by actions they don’t want #blockchain cos & come to #Wyoming where we do! @Tyler_Lindholm @SenatorDriskill @GordonGovernor https://t.co/We4n3hNkIx
— Caitlin Long 🔑 (@CaitlinLong_) February 10, 2019
Gabor Gurbacs, Director at VanEck, answered to Caitlin Long that he would love to see more states competing for innovative businesses related to the fintech and crypto market. He has also mentioned that one of the examples is Wyoming.
Wyoming Senate has introduced new bills to support cryptocurrencies as a legal form of money. One of the main goals achieved by the state is related to recognize virtual currencies as personal property. At the same time, back in January, lawmakers in Wyoming have presented a new bill to allow firms to issue certificate tokens rather than stock certificates.
There are other jurisdictions around the world that have already implemented more open legal frameworks for virtual currencies and distributed ledger technology (DLT) to grow. Two of these countries are Malta and Switzerland, that are currently attracting firms from all over the world.
The U.S. Securities and Exchange Commission (SEC) is also trying to have a more active position in the crypto market.
TRON (TRX) Long-Term Price Forecast- February 17
TRX/USD Long-term Trend: Ranging
Supply zone: $0.0400, $0.05000, $0.0600
Demand zone: $0.01000, $0.00800, $0.00600
Tron long-term outlook remains in a range-bond market. The bears return predicted in last week analysis remained strong within the range. The two EMAs were broken as the bears continue the downward journey.
TRXUSD dropped initially to $0.02448 and later to $0.02360 in the demand area. This was the low of the week on 14th February.
With price below the two EMAs crossover and the stochastic oscillator signal in the oversold region pointing up at 8%. It suggests a minor push to the upside before downtrend continuation within the range.
TRXUSD is in consolidation and trading between $0.02881 in the upper supply area and at $0.02142 in the lower demand area of the range. A breakout at the upper supply area or breakdown at the lower area followed by a retest may occur hence patience is required to allow this to happen before a position is taken.
New Ripple Insights Post Shows New Generation Of Blockchain Workers Getting Support From Fundação Getúlio Vargas In Brazil
New Generation Of Blockchain Workers Receives Necessary Support And Education From Fundação Getúlio Vargas In Brazil
Blockchain technology is growing every day, and the only way to keep up the pace is to have new developers learn the technology and seek out ways to improve it. However, before that innovation can happen, the industry needs more people that understand blockchain technology, which is what Sao Paulo’s Fundação Getúlio Vargas (FGV) is working towards.
FGV is one of the leading universities in Brazil, and they offer the University Blockchain Research Initiative, which was recently developed by Ripple. Professor Riccardo Rochman of the university spoke with Ripple on a recent issue of their Insights blog to discuss the way that their Crypto Master’s Program is readying blockchain entrepreneurs and leaders for the future.
The topics of blockchain and cryptocurrency are necessary research topics in Brazil, considering the role they play in the evolving economy. In Rochman’s opinion, blockchainhas the potential to overthrow the current protocols that exist in business and economics, ultimately empowering the people of Brazil.
Presently, the Brazilian Development Bank (BNDES) uses blockchain and a proprietary cryptocurrency as a way to fund local businesses. Considering this use case, Rochman pointed out that the new paths being made for blockchain technology will make the environmentally friendlier and needier of the new workers and entrepreneurs with a fresh take of the fintech.
A major part of this future vision is UBRI, which Rochman says is helpful in bringing in more students to the program. In fact, he has noted that there has been an increase in the number of research proposals on blockchain, along with new dissertations.
With the funding, FGV has been able to work with private firms as well. They have also been responsible for the networking that has been set up with other UBRI-funded universities. The cooperation of these networking relationships is now is what will pivot the blockchain community forward. Last year, Rochman even was part of the launch of the Master’s Degree in Crypto Finance, which had never been done before now.
When the program originally began, there were about 20 that enrolled in the first course that they made available, while 250 joined the Master’s Program. The numbers have grown exponentially since then, and there have been many new students immediately enlisting in the program. Rochman views the work that the university is doing as a way to change Brazil and eventually the rest of the world.
Glitch Goons Is The Newest And Hottest Blockchain Powered Game In Town
One of the first multi-blockchain technology supporting mobile games of its kind, Glitch Goons is a definite win when it comes to blockchain technology progressing. It features very futuristic elements such as a “vaporwave saturated atmosphere” and insane cyborg slash animal slash human characters engage in glorious battle to survive on a dying world.
The game which was released in late 2018, supports a wide variety of crypto technology. supporting a whole range of cryptocurrencies.
The premise of the game is simple. It is set on Earth in the year 2690 where nuclear war has resulted in most species being wiped off Earth. Now the survivors live underground where life is hard due to a lack of oxygen and water. In order to survive, they must battle other survivors in order to make it to a newer colony on a distant planet called Garthorix.
To make their way to the transport system called the ‘Transposition Channel that transfers human minds to a selected ‘carrier’s’ body on Garthorix.
This 80’s inspired trailer is giving us major Mortal Kombat and Street Fighter feels, very reminiscent of the popular retro gaming vibe.
The official Glitch Goons website also features a brief look into the backstory and history of the entire realm and also has comics.
This fighting game also allows players to upgrade and customize their characters through cyrpto coins and 1 GC equals around 0.005ETH. Although the game play isn’t the best, the story and the applications of blockchain inspired technology makes this game worth playing.
Other than different characters, players can also buy chests that contain 5 items each, ranging from rare and legendary gear which includes armor, boots, weapons, helmets, pants, jewelry and even modification chips.