Week in Crypto | 16/03/2020 – 21/03/2020

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Binance adds P2P trading to 5 Latin American fiat currencies

Exchange Binance recently launched support for P2P trades in five Latin American fiat currencies. The platform now accepts Brazilian Real (BRL), Colombian Peso (COP), Peruvian Sol (PEN), Mexican Peso (MXN) and Argentine Peso (ARS).

According to Binance, the move came after a growing increase in turnover in March (about $ 140 million increase) amid the economic chaos caused by the coronavirus.

Now Latin American users can use the fiat currencies added to the platform for buying and selling Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), among other cryptocurrencies.

With the addition of these currencies, Binance now supports trades involving 18 fiat currencies. The recent move is part of Binance’s “aggressive expansion plan” for 2020, which had already launched its P2P platform in China in 2019 and later added the Vietnamese Dong (VND) and Nigerian Naira (NGN).

Sources: Decrypt | Livecoins 

Coinbase Card mobile available through Google Pay

Coinbase in its partnership with Visa starts to issue the Coinbase Card, now it also allows its customers to use it on their Android phones with an integration with Google Pay announced on 3/17/2020.

With that, Coinbase Card users who have phones compatible with the service can make use of their virtual card. The Coinbase Card connects an exchange user’s cryptocurrency balance that is used to spend cryptocurrencies through instant conversion.

Google Pay emulates the physical card using the device’s NFC chip, allowing it to be used on any terminal that is enabled to make contactless payments. However, for the Coinbase Card, Google Pay has some restrictions in relation to countries where the card is supported by the service. According to Cointelegraph, the list of countries includes the United Kingdom, Ireland, Belgium, Finland, France, Italy, Slovakia, Spain, Croatia, Czech Republic, Poland, Denmark, Norway and Sweden.

Sources: Cointelegraph | Decrypt 

Federal Revenue of Brazil studies postponement of income tax return

With the coronavirus pandemic ravaging the world, the Federal Revenue of Brazil is studying the possibility of postponing the deadline for submitting the Annual Income Tax Declaration, as it informed the media on March 19, 2020.

According to Joaquim Adir, the IR Supervisor, the IRS is evaluating the proposal, but for now, the deadline of April 30, 2020, previously announced by the public agency, still remains.

However, it is important to note that regardless of whether the Annual Declaration is postponed or not, Normative Instruction 1888 of 2019, which determines that transactions involving cryptocurrencies in Brazil must be reported to the IRS on a monthly basis.

Sources: Cointelegraph | Livecoins

Steem proposes hard fork to get Justin Sun off blockchain

TRON CEO’s Justin Sun recently acquired Steemit. Inc, the company responsible for developing Reddit’s Steemit forum on the Steem blockchain. With that, Sun received about 20% of Steem’s total supply and the disapproval of much of the Steem community.

The community has organized a plan to freeze Sun’s newly acquired coins to ensure they are used in the development of the network. Upon learning of this, Justin Sun joined the Binance and Huobi exchanges to take over the network and maintain their currencies.

The community, however, has not given up and plans to create a hard fork that will lead Steem to a new blockchain, which is speculated to be called Hive.
Sources: Cointimes | Cointelegraph | Decrypt

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