In a recent letter to Treasury Secretary Janet Yellen and IRS Commissioner Daniel Werfel, US Senators, led by Elizabeth Warren, have called for prompt action in implementing new tax reporting requirements for digital asset brokers. This letter refers to the Infrastructure Investment and Jobs Act (IIJA), a bipartisan measure enacted almost two years ago that
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The Australian Securities and Investments Commission (ASIC) has taken legal action against online trading platform eToro for allegedly breaching financial regulations related to cryptocurrency derivative products. ASIC claims that eToro violated the design and distribution obligations under the Corporations Act 2001 between October 2021 and July 2023. Concerns Over Consumer Protection ASIC Deputy Chair Sarah
A recent study conducted by the Network Contagion Research Institute (NCRI) has shed light on the significant influence of crypto-spouting Twitter bots on the price of altcoins. The study examined over 3 million tweets related to 18 altcoins listed on FTX between January 2019 and January 2023. The Impact of Twitter Bot Activity The research
Bitcoin’s price is currently facing a challenging time as it moves lower, falling below the $29,500 mark. However, there is still hope for a potential increase if the resistance level of $30,000 is breached. This article analyzes the current state of Bitcoin and explores the possibilities of a reversal. Bitcoin’s Downward Movement Bitcoin’s price has
In a bid to promote blockchain-based games and make them accessible to a wider audience, Gala Games has partnered with Elixir Games Launcher. This collaboration will not only introduce popular games like Town Star and Spider Tanks to the Elixir Games Launcher platform but also pave the way for more games to be included in
In the fast-paced world of cryptocurrencies, scammers are constantly finding new ways to exploit unsuspecting users. Changpeng “CZ” Zhao, the CEO of Binance, recently shared a near-miss scam incident, highlighting the need for increased vigilance. This article will discuss the scam tactic used by fraudsters and provide tips on how to protect yourself in the
Cryptocurrencies have been gaining popularity and attention in the financial world, and one such cryptocurrency that has stood out is Shiba Inu. What started as a meme currency has now solidified its market presence and is making waves with the highly anticipated ‘Shibarium’ launch on the horizon. Recent data reveals intriguing insights into the activities
The year 2023 has witnessed a notable stagnation in the number of active ERC-20 addresses, according to data from Etherscan. These addresses have remained within the range of 200,000 to 300,000, presenting little change despite fluctuations in Ethereum prices. As of August 2, approximately 275,000 active ERC-20 addresses were recorded, indicating a modest increase from
GameStop, the prominent gaming merchandise retailer, has announced its decision to remove its cryptocurrency wallets from the market starting November 1, 2023. These wallets were introduced by GameStop in the spring of the previous year and allowed users to manage digital assets and non-fungible tokens (NFTs). However, due to the regulatory uncertainty surrounding the crypto
Aave, the governance token of the decentralized finance (DeFi) Aave protocol, has experienced a 17% decline in its price between July 30 and August 1. This downward movement has raised questions among investors about the overall health of the sector and whether other factors are exerting pressure on the Aave (AAVE) token price. One contributing
NFTs are revolutionizing the world of sports memorabilia, redefining how fans collect and engage with their favorite sports teams. These unique digital assets offer a versatile and innovative approach to traditional collectibles, allowing fans to own exclusive digital counterparts of physical items like game-worn jerseys and signed equipment. NBA Top Shot and NFL All Day
The world of cryptocurrency trading is notorious for its volatility and unpredictability. To navigate this complex landscape, investors rely on crypto signals that guide them on when to buy or sell digital currencies. However, not all platforms offering these signals can be trusted. Unscrupulous activities can lead to significant financial losses for unsuspecting traders. Enter
Kenya’s Ministry of the Interior announced on August 2nd that it has suspended the activities of Worldcoin, a digital identity crypto project. The government cited concerns over the project’s collection of citizens’ eyeball/iris data as the reason for the suspension. Kenya’s Response The Kenyan government expressed worry about Worldcoin’s activities within its territory and launched
Coinbase, one of the leading cryptocurrency exchanges, is making strides towards integrating the Bitcoin Lightning Network (LN) in its platform. This move aims to enhance cryptocurrency payments and tackle scalability concerns surrounding Bitcoin. The Importance of Lightning Network Integration The Lightning Network operates as a “layer 2” payment protocol developed on top of Bitcoin. Its
Artificial intelligence (AI) has become a crucial component in various industries, revolutionizing the way businesses operate. It involves the development of intelligent machines that can perform tasks typically requiring human intelligence. Over the years, AI has witnessed significant advancements, leading to a multitude of possibilities that have the potential to reshape our world. With continuous
In a new ruling, the Internal Revenue Service (IRS) has declared that staking rewards obtained by U.S. cryptocurrency investors should be included in their gross income. The IRS considers cryptocurrencies as property for federal income tax purposes, and therefore, rewards acquired through the Proof-of-Stake consensus mechanism fall under taxable income. This decision has significant implications
In a recent twist, Miami mayor Francis Suarez’s presidential campaign has come under scrutiny following a $500,000 donation from PassionForest, LLC, a crypto firm, according to the Miami Herald. The donation, made on October 28, 2022, drew attention when the Campaign Legal Center filed a complaint on July 25, 2023, alleging that PassionForest was linked
In the ever-evolving world of cryptocurrency, scandals and controversies are not uncommon. One recent incident that has captured the attention of many is the rug pull of the BALD token. In this article, we will delve into the allegations surrounding the FTX founder, Sam “SBF” Bankman-Fried, and explore the possible reasons behind Bitcoin’s drop below
In a recent incident, a scammer successfully executed a zero transfer phishing attack, resulting in a $20 million theft of Tether (USDT). This new method of scamming has raised concerns within the crypto community, as it continues to grow in popularity among attackers. The Zero Transfer Scam The scammer targeted a victim’s wallet address, tricking
In a recent press statement, Binance Japan announced the launch of a dedicated platform to onboard new customers in the country. This move is aimed at bolstering the embattled crypto exchange’s business and expanding its services in the Asian market. Binance Japan, formerly known as SAKURA Exchange Bitcoin, Inc., is one of the largest exchanges
Pepecoin (PEPE) has been facing a difficult period in the cryptocurrency market, with downward movements dominating the chart and a lack of significant price support. The challenges stem from PEPE’s technical structure, which has been grappling with resistance from the 20-day moving average (20DMA) since July 16. As a result, PEPE has experienced a 13%
As the popularity of NFTs continues to rise, it’s crucial to have a clear understanding of NFT marketplaces. These digital platforms serve as the hub for buying, selling, and trading NFTs. With a wide range of marketplaces available, such as OpenSea, X2Y2, and Blur, it’s essential to explore different platforms to find the one that
The U.S. Department of Justice (DOJ) has made a formal request to the court to revoke the bail bond of Sam Bankman-Fried (SBF), the founder and former CEO of FTX, a bankrupt cryptocurrency exchange. The DOJ’s request is based on SBF’s alleged attempts to tamper with witnesses, which could impede the government’s pursuit of a
The WLD token offers various avenues for individuals to acquire it, catering to their specific purchasing preferences. These options enable investors to engage with the token in a way that aligns with their needs. Market trends influence the prices, ensuring that investors are exposed to fluid and dynamic market conditions. The World of Centralized Exchanges
The Nigerian Securities and Exchange Commission (SEC) has once again emphasized that Binance’s operations within the country are illegal. In a recent statement, the regulator specifically pointed out Binance’s official website and stated that the activities of the platform are not registered or regulated by the Commission. This reaffirmation of the warning comes amid the
In a surprising turn of events, a new memecoin named BALD, launched on Coinbase’s Base network, experienced a drastic 85% drop in value. This sharp decline was supposedly caused by the developer, who allegedly withdrew 1,034 Ether (ETH) from the market, which amounted to approximately $1.9 million. Reports from social media and blockchain data shed
Binance, one of the leading digital asset exchanges, has achieved a significant milestone by becoming the first exchange to receive an Operational Minimum Viable Product (MVP) license from Dubai’s Virtual Assets Regulatory Authority (VARA). This development comes at a time when the exchange is facing regulatory hurdles in multiple European countries, including Germany, the Netherlands,