Q1 2023 goes down as the period that recorded significant recoveries in the cryptocurrency market. Bitcoin, Ethereum, and other altcoins displayed astounding rallies amid bank runs and Fed’s regulatory crackdown. Out of them all, stablecoins captured the major attention. The USDC brief depegging, due to Silicon Valley Bank (SVB) collapse,
There was a 0.3% rise in U.S. inflation as measured by the Personal Consumption Expenditures (PCE) Price Index in February. This follows a report from the United States Bureau of Economic Analysis (BEA). Market participants had expected a reading closer to 0.4%. Core PCE increased by 4.6% over the last
Lately, Bitcoin’s price was slightly teeter-totters around the $28,000 mark. Despite the ups and downs, it has managed to hold its position as the leading cryptocurrency by market capitalization. BTC showed five massive transactions in 2023, all happened this March. The latest massive transaction that happened on March 30 was
The Denmark Supreme Court decided that bitcoin sales proceeds must be taxed as ordinary income. Investors and miners are both affected by the new law. The Højesteret, Denmark’s highest court and the last arbiter in civil and criminal matters, issued a ruling on March 30 mandating taxation on bitcoin gains.
In a recent tweet, US Senator Elizabeth Warren has again shown her anti-crypto position. Warren hasn’t been shy about how much she despises the crypto sector. She said that the FTX exchange’s demise should serve as a wake-up call for the US Department of Justice, the Securities and Exchange Commission,
The German Federal Financial Supervisory Authority (BaFin) issued the final license as a cryptocurrency custodian to Boerse Stuttgart Digital’s subsidiary, blocknox GmbH on Thursday. This comes at a time when the stock markets throughout the world have begun to recover. From the recent plunge caused by the downfall of major
U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler testified before the House Appropriations Committee on Wednesday. HE pleading for more resources to address the growing issue of non-compliance in the cryptocurrency industry. Gensler said that the SEC’s resources for investigating emerging crypto problems are “stretched thin” at the moment.
Despite recent US governmental crackdowns on crypto businesses and accompanying uncertainties, Bitcoin’s price temporarily surpassed $29,000 on March 30. Bitcoin hit $29,159, the highest price since before the FTX cryptocurrency exchange went down in early November 2022, according to CMC. Despite a number of regulatory crackdowns in recent days. Including
A new law that would establish guidelines for the provision of crypto services in Australia has been submitted. The proposal has been submitted to the Australian Parliament. Digital Assets (Market Regulation) Bill 2023 was introduced by Senator Andrew Bragg as a private senators’ bill. This was with the stated purpose
Gary Gensler, the current head of the US Securities and Exchange Commission (SEC), will testify before the House Financial Services Committee. Rep. Patrick McHenry, chairman of the Financial Services Committee, revealed in a recent interview that Gensler would testify before the panel on April 18. McHenry projected that the SEC
