This is not the first time the Blockchain Association has voiced its disapproval of the IRS’s proposed broker-dealer regulations. This time, the group is concentrating on the unfair burden that these regulations would place on cryptocurrency businesses, investors, and the IRS. The Association’s letter referenced the Paperwork Reduction Act, which
Amid heavy withdrawals from the U.S. Spot Bitcoin ETFs, the cryptocurrency’s price has remained low throughout the week. Concerns over Bitcoin’s near-term performance were sparked by statistics from Farside Investors, which showed that these ETFs saw a total outflow of $545 million this week. Also, the stock market was closed
The Bitcoin market is experiencing its least bullish phase since September 2023 as the price of Bitcoin (BTC) stagnates around the $64,000 mark. Currently, it trades at $64,310 with a 0.36% decline along the trading volume facing a 7% decline in the past 24 hours. A substantial decrease in total
In a letter sent to the United States Internal Revenue Service (IRS), blockchain development company Consensys asked for a postponement of the planned tax legislation. That would have exchanges and brokers report specific cryptocurrency sales. The letter stated: “We must echo our overarching concern … that certain aspects of the
On Thursday, $139.88 million left U.S.-based spot bitcoin exchange-traded funds, marking the fifth day in a row of net withdrawals. Yesterday, according to statistics from SoSoValue, the top two funds in terms of daily net outflow were GBTC (Grayscale) and FBTC (Fidelity). With GBTC posting $53 million and FBTC $51
The founders of the crypto exchange Gemini, have contributed 30.94 BTC worth $2 million to Presidential candidate Donald Trump’s campaign. Winklevoss twins —Tyler and Cameron — are optimistic about Trump’s pro-crypto stance putting “an end to the Biden Administration’s war on crypto.” In his X post, Tyler Winklevoss criticized President
Bitcoin (BTC) has displayed significant fluctuations as the cryptocurrency community grapples with the implications of major market activities. The German government has been actively selling off substantial amounts of Bitcoin, adding considerable pressure to the market. According to the data from Arkham Intelligence, Over $195 million worth of Bitcoin sold
Providers of digital payment tokens (DPTs) pose serious threats to the integrity of the anti-money-laundering (AML) system, according to Singapore’s most recent Money Laundering National Risk Assessment (MLNRA). Not included in the 2014 report, this one’s 126 pages are packed with additional dangers. Providers of DPT services and traders of
An additional 11,931 Bitcoins, valued at an average of over $65,883 per, were bought by Michael Saylor led MicroStrategy. In an effort to boost its Bitcoin holdings, MicroStrategy announced a week before that it would be selling $800 million in convertible notes. Interest on the notes will be paid semi-annually
The Indian rupee dived 0.2% to an all-time low of 83.6512 against the U.S. dollar, surpassing the early low of 83.5750 hit in April, according to the Bloomberg-compiled prices. The current low was amid continuous foreign fund outflows in the equity market and the strengthening of the greenback. This decline
