The Bitcoin reserve plan is ripples in the current market while some believe this will be the future of digital assets others say there will be no use of Bitcoin in the US economy. In this many US states are diving into Trump’s Bitcoin Reserve strategy. Ohio lawmaker Derek Merrin has proposed a groundbreaking bill …
It looks like the clouds are clearing for Ripple as recent events have given it a boost, possibly changing the course of its legal battle. Trump’s promise to fire SEC Chair Gary Gensler on day one seems to be coming true, as Gensler announced his resignation on January 20, the same day Trump is inaugurated. …
Great news for the crypto industry: SEC Commissioner Caroline Crenshaw will not be renominated. According to Fox Business’ Eleanor Terrett, a Senate aide confirmed that the Senate Banking Committee’s scheduled vote on her nomination has been canceled. Crenshaw, who was known for her anti-crypto stance, even opposed the approval of the Bitcoin spot ETF, issuing …
The U.S. government, under President-elect Donald Trump, is seriously looking at the idea of creating a Strategic Bitcoin Reserve. With Bitcoin hitting record highs, important figures like Senator Cynthia Lummis and Dennis Porter are pushing hard to make it happen. The plan is to make Bitcoin a part of U.S. fiscal policy. This could help …
The Income Tax Appellate Tribunal (ITAT) in Jodhpur, India, has today clarified the taxation of crypto transactions conducted before the financial year (FY) 2022-2023. According to the ruling, profits from all such transactions will be treated as capital gains. ITAT Gives Clarity On Pre-2022 Crypto Taxation In what is considered a landmark ruling for India’s […]
A recent Emerson College poll found around 19% of US voters had used crypto, and a majority had a favorable opinion of Donald Trump.
Ripple USD (RLUSD) is officially live on global exchanges. This enterprise-grade stablecoin combines the stability of fiat with the efficiency of blockchain technology. RLUSD will operate on two networks: Ethereum and Ripple’s native XRP Ledger (XRPL). Initially, the price of the stablecoin fluctuated within a 20% range, but it is pegged to the U.S. dollar …
In the latest development, a European MP has advocated for a “Strategic Bitcoin Reserve” in the European Parliament, highlighting Bitcoin’s growing recognition as a sovereign hedge asset. Sarah Knafo, a French magistrate and a member of the European Parliament since June, in a pro-Bitcoin speech, has urged the European Union to create a strategic Bitcoin …
Ripple is set to launch its USD-backed stablecoin, RLUSD, on December 17, 2024. The stablecoin will initially be available on platforms like Uphold, MoonPay, CoinMENA, Bitso, and Archax, with plans to expand to more exchanges in the future. RLUSD is backed by U.S. dollar deposits, U.S. government bonds, and cash equivalents, offering transparency through monthly …
While the world is eyeing Bitcoin some countries are still against Bitcoin mining which is the only surviving factor for Bitcoin. The global issue is getting more complex as Bitcoin surges to a new ATH of $107K today and demand is going to rise in the future. Moreover, coming back to the issue Bitcoin mining …
In response to continued market abuse and a lack of transparency in the UK’s crypto markets, the FCA has issued a discussion paper. The decision is a part of changes in the regulation that FCA is gradually making to create clearer and more coherent rules for firms and consumers thus driving the integrity of markets …
Korea Exchange’s chief recently suggested that South Korea must review its crypto approach and institutionalize digital assets soon to compete against other nations. The call for change comes amid the country’s political turmoil, which has halted all related regulations until 2025. Related Reading: Small-Scale Bitcoin Wallets Are Booming: Addresses With Less Than 1 BTC Surges […]
NFT project CyberKongz has announced that it has received a Wells Notice from the U.S. Securities and Exchange Commission (SEC). A Wells Notice is typically issued when the SEC believes a company has violated securities laws, signaling potential enforcement action. The team behind CyberKongz expressed their disappointment with the SEC’s approach, claiming that the regulator …
Ripple has officially announced the launch of its RLUSD stablecoin, set to go live soon. Monica Long, President of Ripple, took to her social media handle on Monday and said that this new stablecoin is an important step for both the XRP Ledger and Ripple, which handles over $70 billion in payments. RLUSD combines Ripple’s …
The UK Financial Conduct Authority (FCA) has released a discussion paper outlining several proposals and inviting public feedback on crypto regulations in the country. Notably, one proposal seeks to ban public crypto offers from non-regulated entities. Cryptocurrency Public Offers Draw The FCA’s Attention According to the FCA, the proposals – detailed in the discussion paper […]
Various countries are embracing Bitcoin and crypto while some are trying to push leash on the ecosystem. The UK is one of the countries that are trying to bring strict regulations to protect the investors. The Financial Conduct Authority (FCA) has shared its latest proposals for tight regulations on crypto assets. The objective behind them …
Bitcoin’s rise to $106,533 reflects a strong market momentum as President-elect Donald Trump hinted at a groundbreaking plan to establish a U.S. Bitcoin strategic reserve during his interview with CNBC. With a recent price of $105,688, the cryptocurrency has increased by more than 50% since the election on November 5. Plus, ether increased by about …
Bitcoin’s surge past $100,000 is boosting Singapore’s crypto ambitions. Known for its crypto-friendly policies, the country leads Asia in digital asset adoption, with firms like Coinbase and Ripple licensed to operate. Despite setbacks from Terra and FTX collapses, Singapore’s infrastructure and investor interest remain strong. Around 40% of Singaporeans hold crypto, fueled by global ETF …
Recently the sentencing of Bitcoin investor Frank Richard Ahlgren III has sparked a critical conversation about the importance of reporting cryptocurrency gains honestly. Ahlgren, who failed to accurately report $4 million in Bitcoin sales between 2017 and 2019, was sentenced to two years in prison and ordered to pay over $1 million in restitution. His …
John E. Deaton, a vocal advocate for the crypto industry, has once again shared his views on the need for better regulation. He has often criticized SEC Chair Gary Gensler and his approach, which many see as stifling the growth of cryptocurrencies. This time, Deaton is highlighting a potential solution: merging the SEC (Securities and …
In a latest development, Bit Global has filed a lawsuit against crypto trading platform Coinbase Global Inc claiming that Coinbase has unlawfully delisted its WBTC token so it could promote the rival cbBTC. In a Dec. 13 complaint, BiT Global alleges that Coinbase’s decision to delist wBTC was to promote its own competing product, cbBTC, …
In a latest development, the Bank of England’s regulatory arm, the Prudential Regulation Authority (PRA), has issued a directive that requires businesses to disclose their current and anticipated exposure to crypto assets by March 2025. This development comes as the UK evaluates the impact of virtual digital assets on its economy and financial systems. In …
It’s almost clear that the Donald Trump-led government will establish a strategic crypto reserve. Many believe that Bitcoin will be the only crypto to be used to create the reserve. However, Vivek Ventures, an Ethereum enthusiast, challenges this argument, highlighting why Ethereum will also be a part of Trump’s strategic reserve. Here comes his arguments! …
The Federal Deposit Insurance Corporation (FDIC) is facing criticism after it heavily redacted documents requested by Coinbase, the popular cryptocurrency exchange. Coinbase had asked for information about the government’s actions against the crypto industry, but the FDIC’s excessive blackouts raised suspicions that they might be hiding important details. JUST IN: Judge Reyes ruled that FDIC …
CHILLGUY, a Solana meme coin based on the famous TikTok meme character Chill Guy, became a sensation soon after its launch, as it achieved massive growth in the initial days. But things took a turn when the creator of the character, Philip Banks, strongly objected to the use of his art in the meme coin …
John E. Deaton has slammed the SEC for its aggressive actions against companies and individuals, using Elon Musk’s recent legal clash as an example. Deaton highlighted a report that SEC Chair Gary Gensler had issued a settlement demand to Musk, threatening charges unless he complied within 48 hours. Musk’s lawyer, Alex Spiro, accused the SEC …
Texas with the 8th largest economy in the world is stepping into the crypto spotlight as State Representative Giovanni Capriglione proposes a bill to establish a Strategic Bitcoin Reserve reported by CNBC. This initiative aligns with President-elect Donald Trump’s vision for a federal-level Bitcoin reserve, highlighting the growing acceptance of Bitcoin across states and industries. …
SEC Chair Gary Gensler has issued a settlement demand to Elon Musk, warning him of potential charges unless payment is made within 48 hours. The Securities and Exchange Commission is reportedly preparing multiple charges, but the letter remains vague about the specifics, such as the exact nature of the charges and how many of Musk’s …
Ukraine is set to legalize cryptocurrency by the first quarter of 2025, taking a significant step toward regulating its digital economy. However, the country has clarified that it will not offer tax exemptions for cryptocurrency transactions. Danylo Hetmantsev, head of Ukraine’s Parliamentary Committee on Finance, Tax, and Customs Policy, revealed that a parliamentary group is …
In yet another crypto crackdown, Kraken’s Australian branch, Bit Trade, has been hit with a significant $5.1 million penalty after violating Australian financial laws. The global scenario is changing and countries are putting hefty fines for violations of financial laws. Recently the Australian Securities and Investments Commission (ASIC) took action after the company issued margin …