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Government Bitcoin Crackdowns Start

Polipace Staff

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Bitcoin prices were reeling on Thursday, following reports that South Korea’s government plans to ban cryptocurrency trading.

South Korea’s Justice Minister Park Sang-ki said the government was preparing a bill to ban trading of the virtual currency on domestic exchanges, Reuters reported.

“There are great concerns regarding virtual currencies and the justice ministry is basically preparing a bill to ban cryptocurrency trading through exchanges,” Park said told a news conference, according to Reuters.

But, after bitcoin collapsed, a few hours later South Korea’s presidential office said a ban on the country’s virtual coin exchanges had not yet been finalized, though it was one of the measures being considered.w

In South Korea, police and tax authorities raided local exchanges on alleged tax evasion, Reuters reported.

Government bodies around the world have been clamping down on bitcoin in some form. Last weekend, Bloomberg reported that Chinese authorities had outlined proposals to discourage bitcoin mining. Bitcoin miners are prevalent in China due to low operational costs.

“It’s going to be a nightmare for people who are worried about doing the right thing,” Andrew Schaefer, a federally licensed tax expert in Florida who represents taxpayers before the Internal Revenue Service, said to WaPo. At stake this year could be tens of billions in profit and perhaps more, Schaefer said, judging by the surge of interest in bitcoin. A significant chunk of that could be subject to federal and state taxes based on how many people sold their assets.

Polipace.com is an independent political news site dedicated to exposing the truth.

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GOP

Intel Chiefs: Don’t Buy Chinese Phones

Polipace Staff

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Six top U.S. intelligence chiefs told the Senate Intelligence Committee on Tuesday they would not advise Americans to use products or services from Chinese smartphone maker Huawei.

The six — including the heads of the CIA, FBI, NSA and the director of national intelligence — first expressed their distrust of Apple-rival Huawei and fellow Chinese telecom company ZTE in reference to public servants and state agencies.

When prompted during the hearing, all six indicated they would not recommend private citizens use products from the Chinese companies.

“We’re deeply concerned about the risks of allowing any company or entity that is beholden to foreign governments that don’t share our values to gain positions of power inside our telecommunications networks,” FBI Director Chris Wray testified.

On top of that, the Phone maker was caught buying fake reviews. Huawei’s new flagship phone, the Mate 10 Pro, is available for pre-order in the US despite not having any deals with US carriers — so to get some attention, it seems the company has stooped to having fake reviews for the new phone planted online, as spotted by 9to5Google.

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International

Police Recommend Israeli Prime Minister Netanyahu Arrested for Bribery

Polipace Staff

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The Israel Police recommended that Prime Minister Benjamin Netanyahu be indicted on bribery and breach of trust charges in two alleged corruption cases.

The recommendation, made public on Tuesday evening, comes after yearlong investigations into the two alleged corruption cases.

State prosecutors must now decide whether or not to file indictments.

Netanyahu in an address to the nation Tuesday night maintained his innocence, saying the recommendations “cast a dark shadow” and “have no place in a democratic state.”

“I will keep working for the good of the country, not for cigars from a friend and not for better media coverage,” he said in reference to the accusations.

During his tenure as prime minister, some 15 investigations have been opened against Netanyahu to “topple me from power,” he said. The prime minister said he is sure he will be re-elected in the next national elections, which are scheduled for November 2019.

Netanyahu is at the center of two probes. In one, known as Case 1000, he allegedly received expensive gifts from supporters in return for advancing their interests, including expensive cigars and champagne from the Israeli-born Hollywood producer Arnon Milchan.

In the other, Case 2000, Netanyahu is alleged to have conspired with Arnon Mozes, the owner of the Israeli daily Yediot Acharonot, to advance legislation hobbling the free and pro-Netanyahu tabloid Israel Hayom bankrolled by American billionaire Sheldon Adelson.

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International

Russia Making Deals with Israel and Palestinians To Control Peace Process

Polipace Staff

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Palestinians have given up working with the US on the Peace Process, and instead have decided that Putin was better than Trump.

PA President Mahmoud Abbas is scheduled to meet with Russian President Vladimir Putin in the Black Sea summer beach resort of Sochi on February 12.

“We are hoping that Russia and the EU will step in to fill the void,” the PA official said. “We believe that these countries should and can play a larger role in any peace process in the wake of the Trump administration’s hostile policies toward the Palestinians and bias in favor of Israel.”

The US has already lost a lot of influence in Israel, as Putin and his oligarchs have invested heavily in Alternative Energy in Israel – something that the US lags far behind. Additionally, Putin has visited Israel several times.

A large delegation of senior Russian security officials is slated to arrive in Jerusalem on Wednesday for talks on Iran’s entrenchment in Syria and Lebanon, following Prime Minister Benjamin Netanyahu’s meeting with Russian President Vladimir Putin in Moscow on Monday.

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