Fighting back

Coinbase customer vs IRS, Swift PoC, Lightning version test, Chinese bitcoin traders, Deloitte blockchain lab  View this email in your browser January 12th, 2017 "We must not wish for the disappearance of our troubles but for the grace to transform them." – Simone Weil Got this from a friend? SUBSCRIBE HERE In an exclusive CoinDesk opinion piece, Jeffrey Berns – the individual behind the motion to block the IRS attempt to access Coinbase records – explains his motivation, and why we should all be alarmed. As a lawyer, he points out that "John Doe" summons are usually reserved for practices that have no legitimate purpose (such as tax shelters), and so should not apply to bitcoin exchanges. He also questions the IRS's entitlement to the unprecedented amount of information that it seeks. As an individual, he is concerned about the security risk of having such information in government hands, given its vulnerability to hackers. And as a citizen, he fears that the IRS attempt to actively discourage cryptocurrency use will dampen innovation and growth, as well as negatively impact the future role of the US in the global economy.   Read the whole story Tweet Share OUR SPONSOR CoinMall is a marketplace on which you can buy or sell digital goods in exchange for bitcoin. It's globally accessible, includes an escrow service and feedback system, it's fully pseudonymous and there's no risk of fraud or chargebacks thanks to bitcoin. Wait, there's more: Swift is Building a Blockchain App to Optimize Cash Liquidity The global banking consortium Swift will test the impact of blockchain technology on the reconciliation of member banks' nostro accounts (foreign currency accounts held in other banks), reducing costs and freeing up liquidity. If successful, the application could eventually be included in the group's Global Payments Initiative which is aimed at improving cross-border payments. Read more. What Central Bank? China's Bitcoin Traders Are All-In On Bitcoin In conversations with CoinDesk, Chinese bitcoin traders expressed their belief that increased regulation would help the sector, and confirmed that they are not worried about potential government action. However, they do acknowledge a slow-down in trading activity and customer growth since the end of the rally. Read more. Lightning Strikes: An (Early) Version is Finally Here Lightning Labs has released an early version of the Lightning Network to the bitcoin testnet for developers to begin work on. In conversation with CoinDesk, the startup's co-founders confirmed that this was in preparation for launch on the live blockchain in the event SegWit is activated, although apparently a less user-friendly version of Lightning can work without it. Read more. The IRS is Catching Flack Again for Weak Bitcoin Guidance The US Government Accountability Office has published a report calling on the IRS to improve information given to US citizens of the potential tax liabilities resulting from investing part of their retirement accounts in cryptocurrencies. Read more. As India Goes Cashless, its Central Bank Researches Blockchain A research group backed by India's central bank has issued a report recommending the digitization of the rupee via blockchain. Read more.   'Satoshi Roundtable' Brings Blockchain Bigwigs Back for 3d Year A select gathering of 'influencers' in the cryptocurrency and blockchain sectors kicks off later this month, with informal and off-the-record sessions. Read more.   Japanese Government Sends Blockchain Startups Abroad  Three Japanese blockchain startups will be spending time in New York and Silicon Valley as part of a government-sponsored technology collaboration program. Read more. Deloitte Launches Blockchain Research Lab in New York After opening a blockchain lab in Dublin last May, Deloitte has announced the launch of a second lab, this time in Manhattan. Read more. Bitcoin ATMs Are Being Attacked With Hammers in the Midwest A tough business: according to court documents, three individuals are accused of extortion and vandalism of bitcoin ATMs, in an alleged bid to muscle out the competition in Detroit and Chicago. Read more.   Go to CoinDesk BTC: $777.06 -3.3%  ETH: $9.58 -4.0% @10:00 EST - More price details *Construct Tickets Increasing in Price* TODAY is the last day to get early bird pricing on tickets to CONSTRUCT, our developer-only conference in San Francisco, USA from January 30-31. If you're thinking of attending, don't delay! 😎 APPLY TO ATTEND 😎 PRESS RELEASES   06, Jan - Press Release: UNICEF, UK Home Office and BTCC to speak at London Blockchain Week 2017 05, Jan - Press Release: Introducing World's First Bitcoin Marketplace for Digital Goods 05, Jan - Press Release: The Seam to form Cotton Blockchain Consortium with IBM on Hyperledger Fabric How are we doing? Can you think of anything we can improve on? Just hit "Reply" and let us know! Share Tweet Copyright © 2017 CoinDesk, All rights reserved. You're receiving this email because you subscribed for updates on our website. Our mailing address is: CoinDesk 636 Avenue of the Americas New York City, NY 10011 Add us to your address book Want to change how you receive these emails? You can update your preferences or unsubscribe from this list