The United States Internal Revenue Service (IRS), which is responsible for tax collection in the United States, has released proposed regulations on the sale and exchange of digital assets by brokers. Under the rules, brokers would be required to use a new form to simplify tax filings and cut down on tax cheating. According to
The next Bitcoin halving event is less than 9 months away and the consensus opinion among analysts and investors is that the halving will send BTC price to a new all time high or even above $100,000. Despite this belief, the absence of fresh inflow to the crypto market, the current macroeconomic headwinds and BTC’s
Bitcoin (BTC) is down about 11% in August, just shy of the 13.88% fall seen in the corresponding month in 2022, according to CoinGlass data. The picture does not look very bright for September either. History shows that every year since 2017, Bitcoin has declined in September. Bloomberg Intelligence senior macro strategist Mike McGlone is
XRP, the cryptocurrency tied to Ripple, found itself entangled in a familiar tussle with the $0.55 resistance level as bearish forces thwarted its early attempts at a rebound. While last month’s pivotal summary judgment offered a glimmer of regulatory clarity for XRP, the ongoing specter of the SEC appeal and an impending trial slated for
Google plans to update some of its service policies to comply with the European Union’s Digital Services Act (DSA), according to an Aug. 24 blog post. The Big Tech giant said it had made “significant investments” in various areas to comply with the DSA’s specific requirements. It plans to expand its Ads Transparency Center, researchers’
Cryptocurrency exchange Binance continues introducing more restrictions for Russian customers on its peer-to-peer (P2P) trading platform. Binance P2P has banned Russian residents from using fiat currencies other than the Russian ruble, Binance announced on its Telegram channel on Aug. 27. Binance’s Russian clients residing outside the country have also been banned from using currencies like
A crypto wallet belonging to the 1inch Investment Fund has bought huge amounts of Ether (ETH) a month after recently cashing out on its dollar-cost averaging (DCA) buys throughout the first quarter of 2023. Blockchain analysis platform Lookonchain, which follows and posts smart profitable trades, flagged the transaction. According to the firm, the 1inch-affiliated wallet
In a new blog post today, Shytoshi Kusama, the lead developer of Shiba Inu, announced that Shibarium is now live and scaling optimally. Kusama stated, “Shibarium is LIVE and operating well! Now that we’ve proven that all funds are safu (as we said), and that Shibarium is ready for prime time, we will reopen our
Bitcoin mining revenue or “hash price” — a measure of dollars earned per TH/s per day — has slumped to levels not seen since the collapse of FTX in November 2022, while hash rate has reached new highs. Over the past week, Bitcoin network hash rate topped 414 exahashes per second (EH/s) on Aug. 18
The parent company of subscription platform OnlyFans has become the latest firm to reveal its cryptocurrency holdings, showing it invested nearly $20 million into Ether (ETH) in 2022. According to an Aug. 24 financial filing to the UK corporate registry, Fenix International reported that it had purchased some $19.9 million worth of ETH between 2021
Despite the recent hype around riend.tech, some decentralized social networks are still having a tough time getting users to sign up and stay on their social media platforms. Two executives in the decentralized social (DeSo) media space told Cointelegraph that as much as 99% of users moving into DeSo for the first time will end
Crypto asset management company Hashdex has joined the competition for a spot Bitcoin (BTC) exchange-traded fund (ETF) in the United States. The firm has submitted an application to the U.S. Securities and Exchange Commission (SEC) for a Bitcoin futures ETF that will hold spot Bitcoin. ETFs are investment funds that trade on a stock market,
Bitcoin (BTC) has gone silent over the weekend. CryptoQuant CEO Ki Young Ju said in a recent post on X (formerly Twitter) that Bitcoin’s velocity has declined to a 3-year low. He said this could either be considered positive as whales were holding on to their positions or negative because the transfer to new investors
The United States Internal Revenue Service (IRS), the agency responsible for tax collection, released proposed regulations on the sale and exchange of digital assets by brokers. Under the rules, brokers would be required to use a new form to report to simplify tax filing and cut down on tax cheating. The proposed Form 1099-DA would
Several prominent crypto commentators have criticized the new crypto tax reporting rules recently put forth by United States president Joe Biden. On Aug. 25, in an effort to catch crypto users avoiding taxes, the Internal Revenue Services (IRS) proposed brokers follow new rules for selling and trading digital assets. Brokers would use a new form
Crypto exchange Binance has removed “yellow” and “green” payment options from its peer-to-peer (P2P) service after being criticized for using these code words to represent sanctioned Russian banks, Cointelegraph confirmed on Aug. 25. Payment method searches for color-themed code words result in no hits. Source: Binance Binance’s peer-to-peer exchange service is a message board allowing