Bipartisan legislation being proposed would make small crypto transactions exempt from capital gains taxes in the U.S. This could help cryptocurrencies better perform their namesake task.
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Tesla has announced that it sold off 75% of its Bitcoin during the second quarter of the year. During this period, Bitcoin was on its way down in price from its all-time-high of $69,000.
Coinbase has reassured users and investors that it is not exposed to any of the crypto companies that ran into financial difficulties this year. It blamed their lax attitude for their problems.
The U.S. government has banned employees from participating in public matters related to cryptocurrencies, such as the formulation of laws, if they have invested in cryptocurrencies and stablecoins.
Miners and e-cafes in China are now flooding the market with the graphics cards they no longer need. As crypto crashes, mining becomes financially inefficient, thus forcing miners to sell their GPUs.
Crypto miners will observe power supply cuts to avoid a possible rise in the country's electricity consumption. Iran noticed record-high demand last year. This year, it aims to act promptly.
A new paper appears to show that the Bitcoin network while requiring a lot of power, is more energy-efficient than the existing electronic payment system used to send money between banks.
The last 24 hours have seen extreme market volatility which has now pushed the market capitalization of cyptocurrencies to below the $1 trillion mark for the first time since January 2021.
Industry insiders have warned that smaller cryptocurrencies face collapse amid the wider economic woes taking place. Some think this will be good as many junk projects will be removed from play.
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An Australian regulator has sued Meta for allowing fraudulent ads showing celebrities promoting cryptocurrencies to run rampant on Facebook. One person reportedly lost almost $500,000.
A European Union Parliament committee has decided not to ban proof-of-work cryptocurrencies in the bloc. Such a ban would have affected the most popular cryptos including Bitcoin and Ethereum.
The UK's Financial Conduct Authority is clamping down on Bitcoin ATMs because they do not implement Know Your Customer (KYC) measures. Those who don't comply will face further action.
Cryptocurrencies are being used to facilitate the transfer of millions of dollars in aid to Ukraine. The firm Elliptic said that over $16.7 million has been sent to the Ukrainian government and NGOs.
Cryptocurrencies including Bitcoin saw a sharp drop in their prices today following Russia's invasion of Ukraine. The decline in prices anticipated European stock markets which are all down.
SwissBorg held its annual meeting earlier, it outlined plans to scrap fees for P2P payments between SwissBorg users and its plan to reduce emissions related to crypto use on its platform.
Any improperly configured QNAP NAS, exposed to the internet, is currently vulnerable to a new type of ransomware called Deadbolt which encrypts data and demands a ransom in Bitcoin.
A new survey from Paysafe suggests that many people who hold cryptocurrencies would like to be paid in blockchain-based digital assets. Many responders also believe everyone will own crypto soon.
New data from Chainalysis shows that illicit cryptocurrency funds reached an all-time high in 2021, totalling $14 billion. Scams were the largest source of these illicit funds followed by theft.
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Following a ban on Bitcoin mining in China earlier this year, it seems that the network has fully recovered which is a testament to the cryptocurrency's resiliency. The U.S. now has the most miners.
Bitcoin has tumbled more than 10% this morning hitting $43,000. This comes just weeks after Bitcoin hit a new high of $69,000. El Salvador's President also tweeted to say the country bought more BTC.
India may not ban cryptocurrencies outright after all, according to Zebpay co-CEO Avinash Shekhar. Based on meetings with the finance committee he believes high taxes on crypto will be levied instead.
Twitter users can now enable Tips through Twitter for Android. The option became available on iOS in September and, as promised, is now available to Android users. You must be over 18 to use Tips.
The Bitcoin network is set to receive a big upgrade this weekend. It will introduce new smart contract features bringing it closer to Ethereum and some transactions will be simpler, reducing fees.
The cumulative cryptocurrency market cap has passed $3 trillion according to data from CoinGecko. It passed the $1 trillion and $2 trillion marks earlier this year too, just months apart.
The People's Bank of China has clarified that trading cryptocurrencies inside the country is illegal. As its argument, the PBOC said cryptos are dangerous because people can lose their assets.
Today, Twitter announced that it is adding new payment methods for its tips feature including cryptocurrencies. The new feature will allow creators to receive tips from Twitter users via Bitcoin.
President Bukele of El Salvador has announced the country bought 150 more bitcoin bringing the total to 700 coins or 30.8 million U.S. dollars. It comes after he made bitcoin legal tender.
El Salvador has become the first country in the world to adopt Bitcoin as legal tender. The move has been welcomed by many and protested by others citing a lack of confidence in the unstable currency.
Poly Network, the crypto platform that was recently hacked and had millions in cryptocurrencies stolen, has confirmed that it has received all the money back from the hacker and is restoring service.
PayPal has expanded its cryptocurrency service to users in the UK. With the new service, people will be able to buy Bitcoin, Ethereum, Litecoin, or Bitcoin Cash for as little as £1.
Accountants and financial advisors have warned that people may unknowingly be accruing high capital gains tax bills by using crypto-based debit and credit cards to make purchases in stores.
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The insolvency firm Begbies Treynor has warned governments could miss out on huge sums of tax if they do not get to grips with cryptocurrencies and put regulations and tax measures in place.
U.S. IT firm Kaseya was rocked by a massive ransomware attack over the weekend in an attack that potentially affects thousands of companies. The responsible group has now demanded $70M in Bitcoin.
The U.S. DoJ has announced that it has seized $2.3 million worth of Bitcoin that had been paid to ransomware-as-a-service group DarkSide, which was involved in the Colonial Pipeline attack last month.
El Salvador's President Nayib Bukele has announced plans to make Bitcoin legal tender of the country. At 39 he is the youngest president in Latin America and is known to break from norms.
Square CEO Jack Dorsey has said that the company is contemplating the creation of a bitcoin hardware wallet to help broaden the appeal of the cryptocurrency to the next 100 million people.
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