The U.S Treasury Department might exclude crypto miners and stakers from a crucial rule going forward, reported Bloomberg. It has to do with the rule where brokers of virtual assets are required to provide information on their clients’ transactions to the Internal Revenue Service (IRS) under last year’s infrastructure bill. Congress had made way forContinue reading “Report: Woes under the Infrastructure Bill to be answered by the Treasury”

Governor Matolcsy of the Central Bank of Hungary has expressed support for the idea of a crypto ban in the EU. He noted in a statement, China declared all cryptocurrency activities illegal last September (…) I perfectly agree with the proposal and also support the senior EU financial regulator’s point that the EU should banContinue reading “Will EU give in to the calls of a crypto ban like China”

Recently, Wells Fargo had stated that cryptocurrencies could be hitting an “adoption inflection point,” comparing it to the internet adoption in the 1990s. In another report, examining crypto trends for 2022, Ripple has noted, “There are high expectations within institutions for wide scale adoption and impact of blockchain technology, cryptocurrencies, and Central Bank Digital CurrenciesContinue reading “‘High expectations within institutions’ for wide-scale crypto adoption in 2022”

Seven V Global executives have been found guilty of misappropriating 2 trillion KRW ($1.9 billion) in the latest verdict on Friday, as per reports. While the six of them will serve varying jail-time of up to 14 years, former CEO Lee Byung-gul has been sentenced to 22 years in prison. The development comes as prosecutorsContinue reading “S Korea: Former CEO of V Global gets 22 years jail over $1.9 billion scam”

Chinese search provider Baidu had announced a self-developed metaverse last year in December. The year when China took a policy decision to curb all private crypto activities from the country by tagging them ‘illegal.’ However, interestingly, this year China was also the front runner to launch an e-CNY CBDC during the Beijing Olympics. Many commentatorsContinue reading “Chinese metaverse to look different than the rest of the world’s”

Soon after the Indian government’s Budget announcement to bring digital assets under the government’s taxation regime, Finance Minister has given another blow to its legal status by her comments. Banning or not banning cryptocurrencies will come subsequently after consultations: FM replying to Budget debate in Rajya Sabha — Press Trust of India (@PTI_News) February 11,Continue reading “India: FM breaks silence, reiterates this on the issue of legalizing cryptocurrencies”

We know that the Ethereum Foundation has phased away ‘Eth2’ as it merged with Eth1 into a single chain. And as that happened, a crucial hard fork under ‘The Shanghai‘ is shaping Ethereum. But, what is the way ahead after the merge? In a recent interview, co-founder Vitalik Buterin explained the various elements of theContinue reading “Why it’s not done and dusted after ‘The Merge’ for Ethereum”

The month of January was responsible was a downward spiral in the crypto-market. And, the downtrend was also responsible for reducing fund flows for all digital assets. However, for the third straight week, the trend seems to be reversing with recovery on the way. While it briefly breached the crucial $45K level today, Bitcoin hasContinue reading “Fund inflows support Bitcoin’s recovery story, but this crypto continues to lag”

Federal Deposit Insurance Corporation (FDIC) Acting Chairman Martin J. Gruenberg announced the key priorities for the year ahead. Among other pressing issues that were included in the 2022 agenda, the evaluation of the risks around cryptocurrency has also been given priority. The notification follows an earlier report by Bloomberg that the President Biden administration isContinue reading “FDIC Acting Chairman prioritizes crypto in 2022, here’s what might be coming”

India Finance Secretary T.V. Somanathan had told media outlets last week that crypto taxation is kept next to winnings from horse races, or bets and other speculative transactions with the proposed 30% transaction tax. Alongside that, the 1% TDS announced with a threshold had got the industry worried. ‘Volumes will drop off the cliff’ NithinContinue reading “India: Will crypto volumes ‘drop off the cliff’ after the 1% TDS proposal”

The month of January spooked the market amid a larger sell-off. While BTC depreciated by 50% and the market saw losses of hundreds of millions, the market, at press time, seemed to be on the path to recovery. However, Scottish historian Niall Ferguson believes that if Bitcoin follows its historical pattern, it could fall furtherContinue reading “Bitcoin could fall further, but will the ‘crypto winter’ be here for long”

After the market witnessed mayhem in early January, the crypto-verse is now on the path to recovery. The global cryptocurrency market cap recovered by 2.5% in the last 24 hours. This, while Bitcoin’s dominance remains under 40% on CoinGecko.However, reversing its last week’s slide, BTC managed to gain by 12% over the past week toContinue reading “The A to Z of what Bitcoin’s ‘recovery’ is suggesting”