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cryptocurrency May 23, 2018

Poland reels in crypto taxation, IOTA and UN exploring collaboration, top gainers, big losers and everything else going on with crypto!

Crypto Tax Collections Suspended by Polish Ministry of Finance

Poland’s Ministry of Finance will put a temporary hold on tax collection for cryptocurrencies. According to Cointelegraph, The Ministry will conduct an “in-depth analysis” of cryptocurrencies to gain better insights on how to properly regulate and tax the industry. The story wasn’t the same however, this past year. Crypto gains reported in April for the year of 2017 were taxed at two brackets of 18% and 32% respectively.

IOTA Collaborates with United Nations

The United Nations Office for Project Services (UNOPS) has partnered with IOTA to explore how distributed ledgers for data management can increase their work efficiency. According to an official UNOPS press release, IOTA’s distributed ledger can provide better tracking of documents, and real-time payments, with access available to both UNOPS and its partners.

“We share a vision where machines, devices, sensors and people connect and communicate to each other… Harnessing technology that allows for these processes to work simultaneously… will help expedite our mission as an organization,” said Yoshiyuki Yamamoto, UNOPS Special Advisor on Blockchain Technology. “We are thrilled to begin working together with UNOPS and to tackle current and future challenges together,” IOTA Co-Founder Dominik Schiener added.

Source: ICO Alert