Bitcoin Backed

• In January, a new token is being launched on the ethereum blockchain that will be backed one-for-one by bitcoin.
• An advisory committee to the U.S. Internal Revenue Service (IRS) believes the agency should provide clearer guidelines on how cryptocurrency transactions may be taxed.
• An arbitration body in China has ruled that despite the country's central bank ban on cryptocurrency trading, bitcoin should still be legally protected as a property with economic values.
• Shipping giant Maersk and tech provider IBM are wrestling with this problem with TradeLens, their distributed ledger technology (DLT) platform for supply chains.
• The four biggest agricultural corporations in the world plan to utilize tech such as blockchain and AI to bring the global grain trade into the digital age.

Late Confirmation is a CoinDesk production.

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