CRYPTO BILL
Rise of Telegram-friendly chain spurs talk of crypto super app
The Open Network (TON) blockchain has seized the crypto spotlight even amid a broader rally in the sector that saw Bitcoin hit new heights before a recent selloff.
US Treasury finalises new crypto tax reporting rules
The new tax reporting requirements for crypto brokers aim to improve accuracy, ensuring that crypto owners pay the tax owed on digital asset transactions. The rules will help simplify reporting and may lead to additional IRS regulations for non-custodial brokers in the future.
Crypto firm Abra reaches settlement with US states for operating without licences
Last year, Abra agreed to discontinue accepting cryptocurrency from its US Abra Trade account customers for use in its products and services, according to a statement from the Conference of State Bank Supervisors (CSBS). Abra announced last year that it would wind down operations for its US retail customers, following multiple enforcement actions from state securities regulators.
Enemy within? China is buying land around American military bases
China's proximity to military bases within the US, including a nuclear missile base in Wyoming, raises national security concerns. The US government blocked a Chinese-backed cryptocurrency mining firm from owning land near Francis E. Warren Air Force Base in Wyoming, citing it as a 'national security risk'. The order required the divestment of property operated as a crypto mining facility near the base.
US House passes crypto bill despite warnings from SEC
The House approval comes as the U.S. Securities and Exchange Commission (SEC) signals that it will likely approve applications for spot ether exchange-trade funds in a surprising boost to the industry.
Cryptocurrency Price on May 20: Bitcoin trades near $67k; Avalanche, Shiba Inu fall over 4%
Cryptocurrencies witnessed a decline in Monday's trading as investors adopted a risk-averse stance amid global uncertainties. The global market cap dipped by 1%, reaching around $2.41 trillion over the past 24 hours.
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Sebi suggests local regulators oversee crypto trading
Both sets of documents, which have been seen by Reuters, have been submitted to a government panel which is tasked with formulating policy for the finance ministry to consider. SEBI's stance has not previously been reported.
Bitcoin's latest 'halving' has arrived. Here's what you need to know
Bitcoin's latest "halving" occurred Friday night. Soon after the highly anticipated event, the price of bitcoin held steady at about $63,907
Bitcoin's next 'halving' is right around the corner. Here's what you need to know
Sometime in the next few days or even hours, the "miners" who chisel bitcoins out of complex mathematics are going to take a 50% pay cut - effectively slicing new production of the world's largest cryptocurrency in half.
Who is Sam Bankman-Fried, the onetime crypto mogul sentenced to 25 years in prison?
Sam Bankman-Fried, a former cryptocurrency billionaire, has been sentenced to 25 years in prison for what federal prosecutors deem one of the largest financial frauds in U.S. history. Bankman-Fried's rise to prominence began when he founded a cryptocurrency hedge fund, Alameda Research, in 2017, followed by the establishment of the FTX exchange in 2019.
Crypto industry surveys US 2024 candidates, looking for friendly lawmakers
The survey from the Stand With Crypto Alliance, an advocacy group that aims to organize voters who own crypto and influence public opinion, is a way for a young industry like crypto to engage in political activity in lieu of trade organizations, said Olivia Buckley of OpenSecrets, a research group that tracks money in US politics.
Crypto industry surveys US 2024 candidates, looking for friendly lawmakers
"Crypto regulation at the federal level remains very much contested and murky, so seeing which candidates can garner support from the industry could be telling as far as what's to come in Congress," she added.
Asian consumers could soon be paying with stablecoins
Hong Kong put out a proposal last week to license stablecoins. Singapore has already announced similar intentions. It’s very likely that before the end of 2024, the two financial centers will have come up with rules that US lawmakers have failed to adopt after three years of efforts.
Bankman-Fried dodges questions during his US crypto trial
Bankman-Fried, once one of the most respected figures in crypto, has been charged with seven counts of fraud, embezzlement and criminal conspiracy.
Coinbase kicks off grassroots campaign to advance US legislation
Coinbase, the largest U.S. cryptocurrency exchange, is stepping up its grassroots advocacy campaign in a bid to advance legislation that will provide regulatory clarity for the industry, the company said.
Lawyers land $700 million bounty from crypto collapse
Lawyers, accountants, consultants, cryptocurrency analysts and other professionals have racked up more than $700 million in fees since last year from the bankruptcies of five major crypto firms, including the digital currency exchange FTX, according to a New York Times analysis of court records. That sum is likely to grow significantly as the cases unfold over the coming months.
Crypto Regulatory Bill passes US Congressional Committee: How India can benefit from It?
The recent advancement of the regulatory bill by the US congressional committee signifies a groundbreaking effort to provide much-needed clarity to the evolving crypto industry
Delayed but not denied: Crypto industry hopeful with announcement of USA’s new bill
The primary objective of this bill is to clearly define boundaries for oversight of the industry between the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) and remove any ambiguity which might cause differences in verdict or uncertainty for stakeholders.
Stablecoin Tether's reserves hit record $86.5 bln in Q2
Tether's reserves report, signed off by accountants BDO Italia, says Tether's assets rose to $86.5 billion in the three months to June 30, 2023, up 5.7% from the previous quarter and a record high, according to previous reports on its website.
Crypto bill passes congressional committee in victory for industry
The bill passed by the House Financial Services Committee would define when a cryptocurrency is a security or a commodity and expand the Commodity Futures Trading Commission's (CFTC) oversight of the crypto industry, while clarifying the Securities and Exchange Commission's jurisdiction, as many crypto advocates complain of the agency's perceived overreach.
Crypto bills to face congressional committee vote
The crypto industry has been in the regulatory crosshairs since investors were burned last year by sudden collapses of Celsius Network, Voyager Digital, FTX and other companies.
US congressional committee set to weigh crypto bills
Among the legislation the House Financial Services Committee is scheduled to consider is a bill that would define when a cryptocurrency is a security or a commodity and another that would establish a regime to oversee stablecoins.
US congressional committee set to weigh crypto bills
Among the legislation the House Financial Services Committee is scheduled to consider are a bill that would define when a cryptocurrency is a security or a commodity and another that would establish a regime to oversee stablecoins - digital tokens typically backed by traditional assets like the US dollar.
Bitcoin consolidates below $30,000 as market books profits after the last week’s rally
Conversely, Ethereum, the second-largest cryptocurrency, previously trading comfortably above the $1,900 level, also witnessed a drop below that critical threshold. XRP, having achieved an impressive 70% gain in the past week, secured the fourth position with a higher market cap than BNB; however, it too, experienced sell-offs on Friday
Stablecoin market share is shrinking while most cryptocurrencies surge
This discrepancy could have several explanations. Hoping for higher returns, investors may be rotating out stablecoins and into appreciating market leaders Bitcoin and Ether, according to Jacob Joseph, a research analyst at CCData. Stablecoins don’t pay interest and usually seek to maintain a one-to-one ratio with other assets such as the dollar, hence their name.
US House panel to vote on cryptocurrency bill in coming weeks: lawmaker
Crypto firms have been clamoring for such clarity from Congress, particularly as the Securities and Exchange Commission has taken a harder line, arguing most major crypto products are securities that must be registered and suing major exchanges
Crypto Price Today: Bitcoin slips below $26,800; Cardano, XRP fall up to 3%
Cryptocurrency markets were lower on Thursday amid concerns over the US debt ceiling. Bitcoin fell 1.4% to $26,790, while Ethereum hovered above the $1,850 level. Analysts predict a choppy crypto market in the coming weeks if the decision on the debt ceiling bill remains unclear. The global cryptocurrency market cap fell 0.79% in the last 24 hours to around $1.13tn. The market cap for Bitcoin stood at approximately $519bn with a dominance of 46.05%, according to CoinMarketCap. Technical analysis suggests Bitcoin is showing a slightly bearish trend.
Crypto Price Today Live: Bitcoin holds below $30k; Dogecoin, Litecoin rise up to 4%
"Bitcoin (BTC) has dropped below $30,000 as a reaction to a new stablecoin bill being flouted in the US. It enjoys strong support at $28,600 which is likely to hold and give strength to refuel its current rally," Vikram Subburaj, CEO of Giottus Crypto Platform, said.
Crypto a ‘legit’ case of macro eco risks: MoS IT Chandrasekhar
Speaking about the slowdown in funding of start-ups and digital economy which has been noticed across the world and in India, the Minister said that he is not very concerned as “peaks and troughs and ups and downs and business cycles are very inherent nature of startups.”
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