The tax authority refuses to treat crypto staking rewards like it does similar property The IRS is maintaining its stance on the taxation of cryptocurrency staking rewards, sparking continued legal challenges and debates. The agency insists that staking rewards should be treated as taxable income upon receipt, countering arguments from taxpayers advocating for these rewards
The new advertising policies are designed to comply with the country’s FCA rules Google is introducing stricter policies for cryptocurrency advertisements in the UK, set to take effect on January 15, 2025. Many companies in the industry that use advertising services through this giant will have to rush to make the necessary changes and be
The payouts mark the beginning of the end of years of waiting The long-awaited compensation for victims of the 2019 Cryptopia hack has finally begun. Grant Thornton, the liquidator handling the now-bankrupt cryptocurrency exchange, has started distributing funds to verified account holders affected by the security breach. The hack, which targeted Cryptopia nearly six years
No concrete date is set, but the crypto exchange’s CEO has his eyes on the US market Binance.US, the American division of the global cryptocurrency platform Binance, has revealed plans to bring back US dollar services in early 2025. Interim CEO Norman Reed shared this update in a blog post on December 18, signaling optimism
An EU-wide stablecoin initiative is receiving resistance across the union European lawmaker Sarah Knafo has made a strong case for Bitcoin while criticizing the European Central Bank’s (ECB) push for a digital euro. Speaking before the European Parliament, Knafo called for the EU to establish a strategic Bitcoin reserve and reject the central bank digital
The US dollar-backed stablecoin was recently approved by the NYDFS Ripple is launching its new US dollar-backed stablecoin, RLUSD, today. The news followed approval earlier this month from the New York State Department of Financial Services. Initially, RLUSD will be available on select global exchanges and issued on both the Ethereum blockchain and XRP Ledger,
Bitcoin continues its latest meteoric rise, taking on the strength of gold The Bitcoin-to-gold ratio has reached a new all-time high, reflecting Bitcoin’s increasing purchasing power compared to gold. On December 16, the ratio climbed to 40 ounces of gold per Bitcoin as Bitcoin’s price surged above $106,000 for the first time. Meanwhile, gold was
A change in European cryptocurrency oversight is forcing exchanges to take action Cryptocurrency exchanges in Europe are taking significant steps to comply with the upcoming enforcement of the Markets in Crypto-Assets Regulation (MiCA). As the regulatory framework nears full implementation on December 30, 2023, major platforms, including Coinbase Europe, Coinbase Germany, and Coinbase Custody International,
The recent surge in Bitcoin has more people talking about investing Alabama State Auditor Andrew Sorrell has expressed optimism about the potential benefits of cryptocurrency for the state, calling it an opportune moment to embrace digital assets. In a recent interview, Sorrell, a long-time crypto advocate, proposed the idea of creating a state Bitcoin reserve
Tensions between China and the US may have the company eyeing major changes Bitmain, a leading manufacturer of Bitcoin mining equipment, has announced plans to expand its production capabilities to the US. This move comes as trade tensions between the US and China escalate, prompting companies to seek solutions to ensure supply chain stability and
Polish authorities have arrested the former executive at the request of the US Polish authorities have detained Dmitry V., the former leader of Russia-based cryptocurrency exchange WEX, in Warsaw following a US extradition request. Dmitry V., whose full identity remains undisclosed due to local laws, is accused of involvement in fraud and money laundering linked
POTUS continues to add crypto-friendly advisers and leaders to his ranks President-elect Donald Trump has tapped David Sacks, a former PayPal executive and venture capitalist, as his lead policy adviser for artificial intelligence and cryptocurrency. Announced via Truth Social today, Sacks will take on the role of “White House A.I. & Crypto Czar,” with responsibilities
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