CRYPTO BILL
Crypto Democrats rally behind Harris campaign in push for policy revamp
On Wednesday night, the new group Crypto4Harris convened its first virtual gathering to discuss how it can support the Vice President's electoral campaign, while also calling for Harris to end the Biden administration's crackdown on the cryptocurrency industry.
Will Indian investors become impacted if the US became the world’s Bitcoin superpower?
Since Bitcoin was released, it has grown rapidly to become the top new asset class in the world. While world governments did not perceive it as a financial changemaker asset at first, the significant adoption rates globally have forced them to think otherwise
Trump, Republicans court crypto votes and dollars at 'Bitcoin 2024'
The industry has quickly rebounded after FTX and a series of other crypto companies collapsed in 2022, sending token prices sliding and forcing multiple companies into bankruptcy. Digital asset proponents say that cryptocurrency users are becoming a growing political force this election cycle.
The economic impact of India's crypto legislation on the global market
This has been driven by India’s Cryptocurrency and Regulation of Official Digital Currency Bill, 2021, which is yet to be tabled but is becoming an era-appropriate necessity. Presently, cryptocurrencies are taxed at 30% on the earnings, while a further 1% is deducted from earnings
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.
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.
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.
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.
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