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A new proposal from the U.S. Department of the Treasury and IRS aims to increase oversight of cryptocurrency transactions. The regulations, stemming from last year's infrastructure bill, would require crypto brokers to send tax form 1099-DA to the IRS and investors beginning in 2026. This expanded reporting
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Hong Kong is rolling out the welcome mat for cryptocurrencies, a move that could have huge implications for mainstream Bitcoin adoption. The city recently issued its first licenses for retail crypto exchanges under a new regulatory regime. It's part of a broader push to re-establish Hong Kong as
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Bitcoin saw a surge of over 7% on Tuesday following a landmark court ruling that sides with crypto giant Grayscale in its legal battle with the SEC over converting its popular Bitcoin Trust into an exchange-traded fund (ETF). The price of bitcoin jumped to over $27,800 shortly after the
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Elon Musk's social media company X took a major step towards enabling crypto payments by receiving approval for a digital currency license in Rhode Island last week. The license will allow X to provide custody, transfer and exchange services for both fiat currencies and digital assets. While X&
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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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Bitcoin, the world's largest cryptocurrency by market capitalization, saw a 0.11% price increase over the past 24 hours to $26,050.64. This slight uptick comes after a period of declining prices for Bitcoin over the past month. With a market capitalization of $507.21 billion, Bitcoin
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This week, Japan began releasing treated radioactive wastewater from the crippled Fukushima nuclear plant into the ocean, sparking concerns in neighboring South Korea about seafood safety despite scientific consensus that the discharges pose negligible risk. With many South Koreans vowing to reduce seafood consumption, the nation's fishing industry
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As the carefree days of summer wind down, it's an optimal time for reflection on the career and financial goals you set earlier this year. Reconnecting with your ambitions and assessing how to course-correct provides clarity for the road ahead. An honest evaluation of priorities can reveal new
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The digitization and tokenization of assets is often touted as a revolutionary technology that can expand access to investments and transform global finance. By converting real-world assets into digital tokens on a blockchain, tokenization enables fractional ownership and tradability. This breaks down barriers for investors with limited means. But what
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A recent analysis of data from the 2019 Survey of Consumer Finances revealed the minimum household incomes required to fall into the top 10%, 5%, and 1% of U.S. earners. The numbers illustrate the significant income disparity that exists between upper-middle class Americans and the ultra-wealthy. This raises the
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China is pulling out all the stops to revive its flagging stock market, implementing a raft of stimulus measures from IPO freezes to trading tax cuts. While aimed at shoring up local equities, an unexpected side effect may be providing a boost to Bitcoin. On August 28th, China announced it
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The US government recently dropped a bombshell on the cryptocurrency industry, unveiling sweeping new tax reporting rules. However, the proposals were met with widespread criticism, leaving Bitcoin and crypto regulation on shaky ground. The main objections center on overbroad language that could restrict key decentralized operations. With an uncertain path
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Bitcoin and the wider cryptocurrency market treaded water on Monday following cautious remarks on inflation from Federal Reserve Chair Jerome Powell last Friday. The lackluster price action shows lingering uncertainty hangs over the crypto outlook despite some signs of stabilizing. Key Takeaways * Bitcoin traded around $26,000, unchanged over the
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The price of Bitcoin has seen ups and downs in 2023, leaving traders unsure of what to expect going forward despite the potential for the approval of a spot-based Bitcoin exchange-traded fund (ETF). A nameless trader who correctly predicted the crypto rally earlier this year is now advising caution, warning
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A new report from JPMorgan suggests the recent wave of heavy selling in cryptocurrency markets may be approaching its end, pointing to signs of stabilization in Bitcoin that could indicate a price reversal is around the corner. Bitcoin Futures Activity Picking Up According to the report, there are indications the
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Municipality Finance, a Finnish public finance institution, recently issued a £25 million tap of 5.125% notes maturing in 2027. This brings the total outstanding amount of the bond to £325 million. While seemingly routine, the deal has broader implications for Bitcoin adoption amid economic uncertainty. On the surface, a