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HONG KONG PROTESTS BOOST DEMAND FOR CRYPTO
What role do cryptocurrencies have to play in the fight for democratic freedoms? As this week’s protests in Hong Kong intensified, so too did the demand for bitcoin.
Residents of mainland China cannot trade in bitcoin or other cryptocurrencies on exchanges, and neither can companies raise funds through ICOs. Meanwhile, however, cryptocurrencies are thriving in Hong Kong. Bitcoin is currently trading in Hong Kong at a premium of about $80 compared to exchanges elsewhere in the world.
Bitcoin found stability near $10,000 on Thursday after falling some 20% in less than a week.
Jeff Dorman, chief investment officer of asset manager Arca, said that the digital currency was “bound to come down when the yuan stabilized and Trump walked back the tariffs for the time being.”
ESTATE PLANNING FOR THE DIGITAL AGE
What happens to your bitcoin when you die? Traditional methods of writing a will and letting the executor find all the assets won’t work with digital assets. Tracking your personal keys, using hard wallets instead of exchanges, and keeping all your legal documents up to date can help make your digital estate planning as painless as possible.
BITCOIN FOR THE NON-MILLENNIAL
The average crypto investor is 42 years old. Here’s why older bitcoin enthusiasts should think about crypto and blockchain not as currency but as the next step in the evolution of the internet.
Major companies like Nokia, Lenovo and more are clamoring for benefits from IBM’s latest blockchain network. Called “Trust Your Supplier,” the network aims to eliminate the cumbersome manual processes—like verifying bank documents, tax certifications, and insurance information—involved in onboarding new suppliers.
Plus: how Walmart’s cryptocurrency patent application is just the latest in a string of false starts for the retailer.
Coinbase Buys Xapo Custody for $55 Million, Eyes Lending Business. [Fortune]
A Big Four Audit Firm Lost $1 Million In Bitcoin. Victims Are Losing Patience. [CoinDesk]
IRS to Cryptocurrency Owners: Come Clean, or Else! [Wall Street Journal]