Cryptocurrency News for the Week of April 29-May 5

Here are this week’s top stories in cryptocurrency and blockchain.

US: Arizona’s Cryptocurrency Tax Bill Sees Rollback On Crypto Acceptance

by Ana Alexandre, Coin Telegraph

Senate Bill 1091 passed, but it happened without important cryptocurrency provisions allowing citizens to pay taxes with bitcoin. Instead of mandating it by law, it just includes language to consider alternative currencies. This could mean they’ll use crypto to start repossessing everything we own.

Investor Sues Ripple Alleging ‘XRP Is A Security’

by David Floyd, Coindesk

Ripple is being sued by Ryan Coffey in San Francisco County Superior Court. Coffey alleges XRP are securities being sold under false pretenses, since crypto hodlers don’t have the same protections as traditional stockholders.

What Is Steem? Introduction To Steemit

by Brian Penny, Cryptobriefing

What is Steem - Introduction to Steemit Token.

Steem is a blockchain and crypto designed to host user-generated content websites. Steemit is its first success, with over a million unique monthly users. Does Steem have the steam to keep pushing forward?

Crypto Exchange Huobi to Expand into Canada

by Bitcoin Exchange, CCN

Singapore-based cryptocurrency exchange Huobi is opening a Toronto office. It’s a big step towards its North American expansion as the third-largest crypto exchange works with Canadian regulators to legitimize its business. Huobi works with a trade volume of around $1.7 billion daily.

Is ethereum a security? The answer could upend the crypto world

by Joon Ian Wong, Quartz

While Bitcoin is a commodity in the U.S., the SEC is considering classifying Ethereum as a security, or essentially company stock. This move will be a step toward crypto legitimacy and determine where and how each crypto exchange should occur.

OSCAR MAYER’S “BACOIN” CRYPTOCURRENCY CAN GET YOU FREE BACON

by Michael Walsh, Nerdist

As part of a new marketing blitz, Oscar Meyer is issuing temporary Bacoin crypto tokens for people to redeem for free Oscar Meyer bacon. It’s not the company’s first promotional blitz for its product (check out dating app Sizzl), but it’s sure to inspire copycats for years to come.

 

Versability

Brian Penny is a former Business Analyst and Operations Manager at Bank of America turned whistleblower, troll, and freelance writer.

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