While the interest in crypto markets skyrocketed, the NFT craze also saw a massive surge through the last year. However, it’s now time for the taxmen to check for tax liabilities from profits in these investments. IRS prepares for crackdown Bloomberg noted in its recent report that the NFT market worth an estimated $44 billion,Continue reading “Tax season: Regulations unclear, experts advise early prep for taxes on crypto, NFT”

Global cryptocurrency funds recorded sharp gains in 2021 after prices of most digital currencies surged to record levels, as per a report by BarclayHedge. Which in turn led to strong institutional interest, furthering the acceptance of cryptos by watchdogs worldwide, the firm noted. With that, the investment database firm recorded that the BarclayHedge cryptocurrency tradersContinue reading “Report: BarclayHedge cryptocurrency traders index was up 138.1% in 2021”

The Federal Security Service of the Russian Federation along with the Investigation Department of the Ministry of Internal Affairs has reportedly shut down an “organized criminal community.” It noted in a release that a known hackers group REvil or ransomware evil was raided at the appeal of the U.S authorities. And, the searches led toContinue reading “Russia: Authorities crack down upon hackers’ group ‘REvil’, seizes $5.5 million”

India’s digital payment system and financial services company, Paytm, had previously stated that it might dive into crypto once the regulatory environment becomes favorable. Now, with the Indian Budget session coming up, CEO Vijay Shekhar Sharma has spoken in favor of implementing regulations. He told ET,  “No technology should be blocked. Technology should be shaped andContinue reading “India: Calls for crypto regulations intensify ahead of Budget Session 2022”

Popular crypto exchanges FTX US and Bitstamp USA are reportedly stepping into the traditional finance world to beat competitors like Robinhood. FTX US President Brett Harrison noted that the company is working hard to introduce stock trading and tracking, along with options offerings. With that, it is worth noting that just last week, Robinhood hiredContinue reading “Crypto exchanges contemplating foray into stocks, here’s what it means”

Congressman Tom Emmer has hit back at SEC Chair Gary Gensler once again, right after pushing a parliamentary bill around CBDCs. He noted in an interview that Gensler “is too smart to be so stupid,” adding “This is driving opportunity off our shores and just look at the intellectual inconsistencies.” He said this with regardContinue reading “Congressman ‘frustrated’ with SEC Chair as Bitcoin Spot ETF debate continues”

On days when the crypto market is bleeding, the latest report from CoinShares showed that investment products in the sector witnessed weekly record outflows of $207 million. Prolonged winter This is the fourth consecutive week of negative flows since December, which now totals to US$465 million, per the report. Additionally, the sluggish outlook also overshadowedContinue reading “Crypto outflows continue for the fourth week as Bitcoin clings to $40,000 level”

Cryptocurrency mining has a negative connotation attached to its name due to the activity’s massive requirement for energy. However lately, crypto businesses are turning to carbon trades to offset these emissions, a recent WSJ report noted. It stated, “So far, more than 17 million carbon credits have been tied to BCT [Base Carbon Tonne] tokens.”Continue reading “Here’s how cryptocurrency companies are taking up greener initiatives”

We know that Bitcoin missed a much-awaited milestone of $100,000 at the end of 2021. However, only 5% of JP Morgan’s clients still expect the token to reach that level by year-end. But, as per a recent poll, the majority (41%) of the clients see a $60,000 price level as a fair year-ending valuation. WeContinue reading “Are you still betting on $100K for Bitcoin this year? So are these from the industry”

“I think Bitcoin is the first real global money of integrity” according to Okcoin CEO Hong Fang. In a recent interview, she said if “Bitcoin can succeed at the monetary level of achieving a decentralized and censorship-resistant network of money,” there’s hope for other projects as well. She added, “That includes a lot of layerContinue reading “Here’s why the market will be the ultimate decision-maker for Bitcoin’s future”

Government Accountability Office (GAO), a legislative branch that provides information to Congress, has raised new concerns around the use of cryptocurrencies in a recent report. It noted, “Virtual currency’s anonymizing features can attract criminals’ use to avoid detection when paying for illicit activities, such as human and drug trafficking.” Scams on the rise The aboveContinue reading “GAO recommends tightening crypto rules to curb various illicit activities”

China’s e-CNY prototype, a centrally-backed digital currency, went live in select cities earlier this month. As the country is looking to officiate its CBDC during Winter Games, scheduled to take place from 4 to 20 February 2022, mobile downloads have been skyrocketing. Well, this can make China’s claim of digital yuan becoming a practical reality-Continue reading “Report: e-CNY app downloads skyrocket in China ahead of Winter Olympics”