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Bitcoin’s ETF could be the first case SEC approves; Coinbase secures $20 bl deal

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Coinbase, which is one of the top exchanges in the world with a value of about $8 billion have achieved great feats. The company recently acquired a $20 billion prime client and got its ads back on Facebook (everyone has as Facebook resumed crypto ads).

The crypto exchange put its intention to work on institutional money and as a result, it launched a custodial service and the Coinbase Prime – these two services specifically target institutions. Both Coinbase Prime and its custodial service are beginning to yield positive returns for Coinbase at the moment.

Furthermore, it is important to know that about $20 billion hedge funds have reportedly been put together to the prime service.  Another enormous hedge funds are possibly on the outlook by Coinbase Prime team to join the prime service later, too.

One of the big problems why institutional money is not invested is due to the lack of a prime brokerage and many institutions don’t want to risk losing their funds left on exchanges. However, Coinbase has gotten a big solution to this and also, the company wants to present a margin finance before the year closes, thus, enabling institutional players to trade effectively.

Facebook Permits Coinbase Ads Once Again

Coinbase has a lot to celebrate this week; one of them is that its ads are back on Facebook. Coinbase CEO Brian Armstrong posted on Twitter:

After Facebook banned adverts concerning cryptocurrencies in January, the social media restructured its policy in June. However, ICOs aren’t still allowed to be featured on the social media.

Bitcoin’s ETF Case to be Approved by SEC Very Soon

Bitcoin’s ETF may be the first file that gets approved by the SEC now. Lately, the number of positive comments have increased due to the second round of opinions disclosed by the SEC on the 27th of June in regards to Bitcoin’s ETF filed by CBOE. In regards to the approval, lots of crypto investors pored on SEC website; one of them said:

Dear CBOE, you need to understand that the whole world wants Bitcoin and Cryptocurrency, in general, to be legalized in the United States and in all parts of the world. ETF is a security and needs to be considered a security by the SEC.”

The same guy further added:

Bitcoin needs regulations and what better way to be officially viewed as a security by the SEC? American institutions need to see the future in Blockchain, Bitcoin, and Cryptocurrencies. The Whole American community asks you to officially allow Bitcoin ETF to be traded.”

ETF is a stock traded on different stock markets that have bonds, stocks, commodities, and so on. ETF is a preferred choice by most investors due to the fact that it has huge daily liquidity and the charges aren’t exorbitant.

Indeed, the influence of CBOE and crypto enthusiasts will see that the United States regulators bring up a great solution. SEC will announce its final decision on the 16th of August; undoubtedly, a favorable and good conclusion by SEC for the approval of ETF will push a bullish run in the market.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Blockchain-Focused ETF Arrives on London Stock Exchange

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The crypto community is still waiting for the US SEC to approve Bitcoin ETFs, with speculation which application might get approval being one of the hottest topics in 2018. However, come 2019, the US government shutdown dragged on, and the Bitcoin ETF request which had the most potential to see a grant got withdrawn by the very companies that submitted the application.

While the question of BTC ETF remains hanging in the air, blockchain-focused ETFs seem to be a different matter entirely. In a recent announcement by an independent investment managed firm called Invesco, the company has stated that it was about to launch the largest blockchain-focused ETF in the world. They managed to go through with this plan, and the ETFs have reached the London Stock Exchange today, March 11th.

The exchange-traded fund includes a portfolio containing as many as 48 different firms which are bringing exposure to the emerging technology. Among them, there is Taiwan Semiconductor Manufacturing, which is a well-known creator of chips used for crypto mining, as well as the CME Group, which is the first regulated exchange in the US which launched Bitcoin futures. There are many other well-known companies as well, such as Intel, Microsoft, and others.

Chris Mellor, the Invesco’s head of ETF equity product management in Europe, said that blockchain has a huge potential to increase earnings, even though…

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Could Jeff Bezos Turn to Bitcoin to Hide Fortune from Wife?

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Amazon’s Jeff Bezos has made numerous headlines recently due to his overly-publicized divorce, which shows all signs of being one of the most expensive ones — if not THE most expensive one — in modern history. According to estimates, it might cost him as much as $70 billion, which will make his soon-to-be-ex-wife the richest woman in human history.

However, as the process continues to unfold, many have started wondering if things may have ended up differently for Bezos if he turned to Bitcoin for help.

Bitcoin as a divorce tool?

In the last several years — since Bitcoin and other cryptos hit fame — many have started turning to BTC during their divorce proceedings. In fact, it can even be said that using the largest cryptocurrency in this way has become a new trend. The trend has been gaining so much strength that numerous law companies started including advice on what to do in regards to Bitcoin as part of their websites.

However, while the trend has been picking up in recent years, it is nowhere near as easy as it might seem. For example, if there is even a suspicion of a spouse having undisclosed holdings appears during the divorce process, it might be enough to impact the final decision of the judge. In other words, even if there is a complete lack of evidence, but…

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Three Biggest Things To Know Come Cryptocurrency Tax Season

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In recent years, digital cash systems known as cryptocurrencies such as Bitcoin and Litecoin have exploded into the public eye. A blend of cash and stocks, their use and value has grown exponentially. In 2017, the IRS decided to focus great effort on taxing them. In theory, this should be as simple as calculating taxes on any other type of property, bond, or other assets. Cryptocurrency, however, presents a unique challenge. The full extent of one person’s crypto activity can stretch across dozens of platforms and take a variety of different forms. This makes it difficult to gather all of this information cohesively, much less begin the seemingly- complicated process of reporting it.

These three tips should help anyone looking to legally report their crypto activity to figure out where to start.

Documentation is key!

There are dozens of different “exchanges” individuals can use to change their cash into crypto. When the flat currency is changed into cryptocurrency at the exchange, you establish your cost basis. This makes this data crucial when you begin the process of reporting.  Those who have used a variety of different exchanges should keep detailed records of everywhere that they made trades. Once tax season arrives, most exchanges will allow users to view their entire trading history with that exchange. This information will be necessary later to complete taxes.

Calculate your total gains

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