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Digital Economy:
What will the global market get

Google blocks crypto-advertisements

13 March 2018  |    287

Today we bring you the latest on:

  • Coinbase’s tax calculator
  • A new crypto-mining Mac app
  • The European Union’s stance on mining
  • The Coincheck case
  • Google’s crypto-ads policy

The American crypto-exchange Coinbase, has just made it easier for its customers to comply with tax laws. A special tax calculator provides users data on their profits, losses and taxes. However, representatives of the exchange warn this isn’t an official tax instrument, and they advise  traders who purchased digital assets on third-party platforms or during ICOs not to use the calculator.

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Users of the freeware application "Calendar" for Mac devices, will be able to extract Moneros by using a built-in miner function. The crypto-mining takes place on the background, and some believe it can pay for the premium functions of the paid version. Users can disable the mining function in the program settings at any time.

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The European Union recognized crypto-mining as a legitimate activity that obeys the standard rules of electricity usage. Maria Gabriel, European Commissioner for the Digital Economy, confirmed the EU's concerns about electricity consumption with "cryptocurrencies and blockchain technology in general." At the same time, she clarified that if the energy used for these ends is produced legally, then there’s no legal ground for prohibitions or restrictions. The European Commission will monitor the electricity demand for now, but further measures aren’t going to be taken.

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Cybercriminals have already managed to "launder" up to 40% of the NEM tokens stolen from Coincheck. Experts of the research group L Plus, believe that criminals have already converted up to 200 million NEMs to bitcoins, twhich is about 76 million dollars. Funds were laundered mainly through the black market. An investigator has said that hackers may be able to exchange those bitcoins for fiat money on crypto-exchanges outside of Japan.

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Advertisers using Google, have recently reported that it’s become harder to post publications related to cryptocurrencies and that some of the accounts are blocked in the AdWords system. Perhaps this is due to the demands from FBI, which we talked about in the previous video. Google has not yet provided any official comments on this matter.

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