“New Zealand Makes Salaries In Crypto Legal”
New Zealand’s tax office, the Inland Revenue Department (IRD), has made it legal to receive salaries in cryptocurrency, and be taxed accordingly. In its August bulletin, the agency published a new ruling under the Income Tax Act (in relation to section RD 3) that states that an employee can be paid salaries in crypto assets as long as the payments are for services performed under an employment contract, are for a fixed amount and form a regular part of the employee’s remuneration. The crypto asset being paid must also be able to be exchanged for fiat currency, and must have the primary purpose of acting like a currency or be pegged to the price of one or more fiat currencies, the IRD states.
“Leading South Korean Messaging App To Launch A Crypto Wallet”
Popular South Korean messaging app Kakao plans to launch its own cryptocurrency wallet later this year. According to a Kakao representative, “Klip has just launched a teasing site before the launch of its wallet, which will take place in the second half of the year.” Ground X, the subsidiary of the company specialized in blockchain, is responsible for the development of the wallet. It will support Klay, the company’s native token, as well as other cryptocurrencies based on Klaytn, the firm’s blockchain. Klip will initially be included in the Other section of Kakao Talk. Kakao Talk is currently the most popular messaging app in South Korea and offers a wide range of services including messaging, free calls, game downloads directly within the application, walkie-talkie mode, KakaoPay payment service and item Store.
“Coinbase UK To Delist Zcash”
United Kingdom-based customers of Coinbase are reportedly being informed that the exchange will be dropping support for the privacy-focussed Zcash as of Aug. 26, 2019. The same does not appear to apply to United States or European Union customers, however, prompting speculation on the reasoning behind the move. The communication being sent to customers gives a number of options on how to proceed. Option one, any Zcash held on Coinbase can be converted into any other cryptocurrency on the exchange. Option two, simply send the Zcash to an external wallet or another exchange. Failing either of these options being carried out, any Zcash still held on the exchange by the Aug. 26 deadline will be liquidated into GBP. The ZEC wallet will then be removed from the Coinbase account.
“IBM Files Patent For Blockchain-based Browser”
IBM Corporation, the multinational technology company based in New York, has made an official filing for a blockchain web browser, with the United States Patent and Trademark Office (USPTO). The application, based on the publication on the USPTO’s official website, explains that the new web browser would gather data from internet sessions and keep a “record of browser events in a blockchain using a peer-to-peer network.” The filing specifies that the data being stored on the blockchain could include browser cache, plugins and extensions, geolocation, application programming interfaces (API), browser tabs, cookies, browser version and also whether or not the browser is being accessed via mobile or web. The browser could also add the information to the blockchain in real-time.