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The newly proposed crypto tax reporting rules by United States President Joe Biden have drawn criticism from several prominent figures within the crypto community. The Internal Revenue Service (IRS) introduced these rules on August 25th to address tax evasion within the crypto space, requiring brokers to adhere to new regulations when selling and trading digital

In the wake of a recent cybersecurity breach involving Kroll, FTX, a cryptocurrency exchange currently undergoing bankruptcy proceedings, has taken swift action to safeguard its users. As a proactive measure, FTX temporarily suspended user accounts accessing its claims portal to mitigate any potential future incidents or additional harm arising from the breach. This decision underscores

In the race to introduce a spot Bitcoin exchange-traded fund (ETF) in the United States, crypto asset management company Hashdex has thrown its hat into the ring. The company has submitted an application to the U.S. Securities and Exchange Commission (SEC) for a Bitcoin futures ETF that will include spot Bitcoin in its holdings. Unlike

The XRP market faces headwinds as investors respond to Judge Analisa Torres’ summary judgement in the case of the United States Securities Exchange Commission v. Ripple Labs, affirming XRP’s non-security status. In this challenging climate, it appears that investors are offloading their XRP holdings. Moreover, a notable whale has initiated the transfer of 29 million XRP,

The Internal Revenue Service (IRS) has unveiled proposed regulations aimed at streamlining the reporting of digital asset transactions by brokers. These rules are designed to enhance tax compliance and simplify tax filing for individuals involved in digital asset trading. The new regulations introduced a novel Form 1099-DA, intended to help taxpayers accurately assess their tax

Bitcoin is facing the challenge of reclaiming a crucial moving average to regain its bullish status, according to analysis by CryptoCon. The analyst cautioned that Bitcoin bulls might be overly confident about the support level at $26,000 and emphasized the importance of securing the 20-week exponential moving average (EMA) at $27,750 as support to establish

Bitcoin financial services firm Ledn is forging a connection with the Cayman Islands that could offer crypto enthusiasts the opportunity to secure residency through Bitcoin-backed loans used to invest in real estate – a pathway often referred to as “golden visas.” The Cayman Islands, renowned for its scenic beaches and tourist allure, is considering opening

Binance.US, the American subsidiary of the global cryptocurrency exchange Binance, has entered into a partnership with MoonPay, a crypto payments company, to offer users a way to acquire the U.S. dollar-pegged stablecoin Tether (USDT) and use it on the platform. This move comes two months after Binance.US transitioned into a crypto-only platform, facing challenges with

Cryptocurrency lending platform BlockFi is contesting attempts by FTX and Three Arrows Capital (3AC) to retrieve substantial funds to reimburse their creditors. BlockFi filed a document with a New Jersey bankruptcy court on August 21, asserting that its creditors should not be relegated to secondary status because of FTX’s claims, alleging that FTX mishandled the

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