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The U.S. Internal Revenue Service (IRS) has proposed far-reaching tax regulations that would require cryptocurrency brokers to report customer digital asset transactions. While the rules intend to standardize crypto tax reporting, critics argue they overstep by treating decentralized networks like centralized finance. As regulators eye closing tax gaps, the
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A new exchange-traded fund (ETF) from London-based Jacobi Asset Management is testing the boundaries of ESG investing principles. The firm's Jacobi FT Wilshire Bitcoin ETF (BCOIN) claims to promote environmental, social and governance (ESG) standards, an unprecedented label for a financial product focused on the highly energy-intensive cryptocurrency
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According to new data from analytics provider Santiment, the amount of Bitcoin sitting on cryptocurrency exchanges has fallen to its lowest level since December 2017. Just 5.8% of Bitcoin's total supply is currently held on exchange platforms. This declining availability suggests growing scarcity and hints at the
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In the early positioning of potential 2024 U.S. presidential contenders, cryptocurrency policy has notably faded as a major talking point despite flashes of prominence last year. The first Republican primary debate on Aug. 5 included no mentions of crypto regulation or oversight issues from leading candidates. This absence came
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The release of new IRS guidelines around reporting of cryptocurrency transactions has sparked debate within the digital asset sector about the scope and impact of expanded oversight. Stakeholders across the industry are poised to flood regulators with feedback during a 60-day public comment period. The rules, unveiled Friday, require cryptocurrency
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Over 850 million XRP tokens, worth nearly $450 million, were withdrawn from major European cryptocurrency exchange Bitvavo this weekend, according to transaction trackers. The large transfers came just ahead of a period of sideways trading and a 2.34% XRP price drop over the past 24 hours. On Friday and
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South Korean cryptocurrency exchanges will soon face tighter requirements for maintaining minimum cash reserves, as part of enhanced regulations aimed at strengthening protections for traders. Starting next month, exchanges with accounts at real-name local banks must keep reserves equal to 30% of average daily client deposits, with a minimum threshold
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A recent profile of Fidelity Investments CEO Abby Johnson uncovered her surprising advocacy for cryptocurrencies within the traditionally conservative firm. Starting in 2014, Johnson pushed Fidelity to adopt crypto despite reluctance from finance and security teams. Her forward-looking embrace of digital assets enabled Fidelity to capitalize on Bitcoin's
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Cryptocurrencies have exploded in popularity over the last decade, leaving regulators scrambling to understand and regulate these new digital assets. However, the recent legal actions taken against major cryptocurrency exchanges by the U.S. Securities and Exchange Commission (SEC) reveal a fundamental lack of comprehension when it comes to cryptocurrencies
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The price of OKB, the native token of the OKX cryptocurrency exchange, has dropped 0.82% over the last 24 hours to trade at $42.97. This minor decline comes as part of a period of sideways consolidation for OKB after a steep downtrend in June and July. OKB started
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The price of the privacy-focused cryptocurrency Monero has dropped 1.2% over the past 24 hours, taking the XMR token down to $144.28. This decline comes as part of a broader pullback for Monero so far in August. XMR began the day trading around $146 before selling pressure picked
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The price of Polkadot's DOT token has surged 2.99% over the last 24 hours to $4.61. This continues a rally that has seen DOT gain 4.25% over the past week as bullish momentum builds behind the world's 9th largest cryptocurrency. DOT started the
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The price of XRP has fallen 0.06% over the past 24 hours, taking the token's value down to $0.5203. This slight decline comes during a period of sideways trading for the world's 7th largest cryptocurrency by market capitalization. XRP started the day trading at
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Uniswap's UNI token saw a slight 0.42% price increase over the past 24 hours, bringing the current trading price to $4.64. Uniswap is a leading decentralized exchange and UNI has a market capitalization of $2.68 billion. Trading volume was mild at $36.56 million for
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Avalanche (AVAX) saw a positive 3.75% price increase over the past 24 hours, bringing the current trading price to $10.45. The native token of the layer 1 blockchain network has a market capitalization of $3.71 billion. Trading volume was $87.83 million for the 24-hour period. In
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Solana (SOL) saw a minor 0.24% price decline over the past 24 hours, with the token now trading at $20.43. Solana maintains a top 10 market capitalization position at $8.34 billion despite its recent struggles. Trading volume was significant at $185.44 million for the 24-hour period.