This 'stablecoin' gives crypto investors a new way to avoid the tax man

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TrueUSD, a cryptocurrency whose value is pegged to that of the dollar, has signed a deal with Binance, one of the world’s largest cryptocurrency exchanges in terms of volume. 

Starting May 18, TrueUSD (ticker: TUSD) will be listed on Binance, allowing traders to exchange it for Ethereum, Bitcoin, or Binance Coin. 

Launched in March by San Francisco-based startup TrustToken, TrueUSD is a so-called stablecoin — a cryptocurrency whose value is pegged to the value of a traditional asset, in this case the U.S. dollar. TrustToken claims that TrueUSD is fully collateralized with fiat money, held in escrow accounts accessible by trusted third-party fiduciary partners. The company says it publishes monthly reports on the state of its bank account holdings, and subjects them to ongoing audits.  Read more…

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