Bitcoin News Mash-Up: Barry Silbert’s New Group; New Bitcoin Tax Tool; and More

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Bitcoin News Mash-Up

Following are the major Bitcoin news of the day

Barry Silbert Launches New Group
Barry Silbert, the much celebrated founder and CEO of SecondMarket, announced in July that he would be focusing more on projects related to Bitcoin. Last Friday, the man took his Twitter account to convey the launch of his new organization Digital Currency Group. However, there was no specific information explaining what the new venture is all about, except a puzzling tagline that said, “Invest, Build, Grow”.

Cryptocurrency Taxation Gets Simpler with LibraTax
Pound recently announced the launch of its new product that will simplify the complex Bitcoin tax calculations. Dubbed as LibraTax, this new taxing calculator will be ideal for businesses and individuals winning their breads via digital currencies. Its code is integrated with Bitcoin wallets like Coinbase and Blockchain which will allow easy imports of transaction information. This will subsequently calculate the tax return of the wallet holder. Pound also received a whopping fund of $500,000 led by Liberty City Ventures.

Pakistan Gets Its First Bitcoin Exchange
Urdubit, upon its launch on October 12 this year, became the first Pakistani Bitcoin exchange. The country, which has by far kept its distance from using cryptocurrencies, is likely to be drawn to this new company thanks to the current geopolitical problems it has been facing lately. Urdubit, on the other hand, is taking this initiative to teach people about the Bitcoin technology, while correspondingly offering them the choice to trade the cryptocurrency as well. The exchange’s founder and COO, Zain Tariq and Danyal Manzar respectively, told CoinDesk.COM:

“When we started out educating people about the block chain and how it can be used as a payment gateway, we found many people mining bitcoins who did not have any medium to trade them directly into Pakistani rupees.”

To contact the writer of the story: Yashu Gola at yashu@forexminute.com