IRS Purchases Coinbase’s Crypto-Tracing Software – July 17

📈 30 Second Cryptocurrency Price Summary

Current Bitcoin Price$9,180

Bitcoin price has reclaimed the $9,100 mark, as price appears to still be remaining in a steady range above $9,000.

Top-20 altcoins have had a nice recovery, as XRP gains 3%, Ethereum stays stable, and Stellar leads the pack with a 15% gain.

Top Stories for July 17, 2020 🔥

👉 IRS Purchases Coinbase’s Crypto-Tracing Software

The US Internal Revenue Service (IRS) has agreed to pay Coinbase up to $237,405 over the next two years to use its cryptocurrency tracing software.

The deal makes the IRS the second US government agency to purchase the software, following the US Secret Service earlier this month.

Coinbase has faced some backlash over its dealings with the government, with CEO Brian Armstrong responding saying that blockchains will be traceable regardless of Coinbase’s participation.

👉 Beijing Releases 145-Page Plan to Become Blockchain Hub

Beijing’s municipal government has released details on its plan to become a blockchain hub today, with a 145-page report.

The city announced the initiative just one month ago, which aimed to make Beijing “an influential blockchain technology innovation center” by 2022.

👉 New Zcash Hard-Fork Enables Mining to Private Addresses

Zcash has successfully hard-forked to its new Heartwood update, which features a variety of new changes including allowing miners to receive mining rewards directly into private (“shielded”) addresses.

The update also includes a feature called “Flyclient” which adds support for lightweight clients which verify transactions.