Cryptocurrency taxation is a subject of increasing importance, with governments worldwide working diligently to establish clear rules for taxing digital assets. In the United States, the United Kingdom, and Canada, crypto holders navigate complex regulatory landscapes, making it crucial to understand how crypto losses are taxed and their potential impact on tax liability. Whether new
Janice McAfee, the widow of tech impresario John McAfee, is still in the midst of grief. She is doing “odd jobs to feed herself,” has run out of funds, and still doesn’t know what really happened to her husband. Since the death of crypto guru and antivirus pioneer husband John McAfee in a Barcelona prison
Rumors suggesting that Ripple may be considering an initial public offering (IPO) have recently caught the interest of the crypto community. However, it appears that another crypto giant may have set its sights on a public debut in 2024. Circle IPO Report Takes Centre Stage While speculations of Ripple’s IPO lose a bit of momentum,
The United States Commodity Futures Trading Commission (CFTC) has unveiled its enforcement outcomes for fiscal year (FY) 2023. It highlights a historic surge in digital asset cases, actions to enforce regulatory obligations for registrants, manipulation and spoofing cases and groundbreaking court decisions in intricate legal disputes. The statement released by the CFTC shows that about
Toncoin (TON) price reached its highest levels in almost a year as crypto traders assessed a slew of optimistic updates in its market, including the recent launch of “Giveaways” on Telegram. In result, Tron (TRX) is now the tenth-biggest cryptocurrency with a market capitalization of over $9 billion — its highest ever. Telegram CEO buys
The aim of the new liquidity guidelines is to ensure that the stablecoin can be quickly redeemed even during turmoil market conditions to avoid the risk of any bank runs and contagion in a crisis situation. Under the proposed liquidity guidelines, stablecoin issuers must offer any stablecoin backed by a currency that is fully redeemable
The Ripple Swell Conference 2023 has barely started and the first major news has already been released. The fintech company has announced the rebrand of its flagship product RippleNet and the expansion of its partnership with leading payments fintech Onafriq, previously MFS Africa. RippleNet Becomes Ripple Payments On the first day of the Swell conference,
Central banks have a responsibility to keep pace with the digital age and lead innovation, Agustín Carstens, general manager of the Bank for International Settlements (BIS), believes. In his opening remarks at a conference in Basel, Switzerland, on Nov. 8, Carstens called central bank digital currencies (CBDCs) the “central element” of this leadership, elaborating on
Cardano has come under fire from critics for delays in the rollout of features and network upgrades. This slower-paced cadence, however, appears to be a badge of honor to Cardano Foundation CEO Frederick Gregaard, who said that the network is “boring,” considering the platform’s academic approach. “Cardano is boring. We are boring because we are
Switzerland-based crypto bank SEBA AG has become the latest crypto-centered firm to obtain a license from the Hong Kong Securities and Futures Commission (SFC). SEBA’s Hong Kong subsidiary, SEBA Hong Kong, received the regulatory nod to offer a range of crypto-related services in the region. According to the data available on the SFC website, SEBA
HSBC has partnered with Ripple-owned tech firm, Metaco, to integrate its institutional platform Harmonize with HSBC’s new custody service for digital assets, the firm announced on Nov. 8. The bank expects to roll out the new digital asset custody service in 2024, complementing its digital asset issuance platform known as HSBC Orion and HSBC offering
The Central Bank of the United Arab Emirates (CBUAE), along with other regulators in the country, has recently published new joint guidance for virtual asset service providers (VASPs) operating within the country. The new guidelines include penalties for VASPs operating without proper licenses within the jurisdiction. The National Anti-Money Laundering and Combating Financing of Terrorism
European cryptocurrency banking platform Bitwala, formerly known as Nuri, is coming back after ceasing operations and returning customer funds last year. Bitwala is relaunching operations under its original name in partnership with the support of the banking infrastructure company Striga, the firms said in a joint announcement to Cointelegraph on Nov. 8. As part of
Bitcoin (BTC) saw classic BTC price volatility into the Nov. 7 daily close as a “short squeeze” took the market near $36,000. BTC/USD 1-hour chart. Source: TradingView Bitcoin hits “key” short squeeze price Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it reacted amid highly elevated open interest (OI) on exchanges. Previously, Cointelegraph
A new crypto-lending platform dubbed Tokenet says it will service what it expects to be an influx of institutional clients following the potential United States approval of spot Bitcoin (BTC) exchange traded fund (ETF). The platform was launched by a team of executives who previously headed financial services firm Cantor Fitzgerald who since joined a
Bitcoin (BTC) mining heavyweights Marathon Digital and Riot Platforms are among the most overvalued crypto mining companies relative to their competitors, says MinerMetrics founder and analyst Jaran Mellerud. The key metric backing Mellerud’s claim is enterprise value-to-sales ratio — measuring a company’s value to its sales revenue. The higher the ratio, the more overvalued a
As the Internal Revenue Service (IRS) pushes forward with its proposal to increase cryptocurrency surveillance, a past report might offer a clue for how this information may be used in practice. In short, with the IRS set to keep tabs on Americans’ cryptocurrency usage through an expected 8 billion new returns, it seems the Department
The rumors of Ripple possibly issuing an Initial Public Offering (IPO) have been making the rounds for some time now. Although it hasn’t been categorically confirmed or denied by Ripple or its executives, a particular crypto founder has provided evidence that suggests that a Ripple IPO isn’t happening anytime soon. Ripple IPO Not Happening Till
Bitcoin (BTC) has been trading within a narrow 4.5% range over the past two weeks, indicating a level of consolidation around the $34,700 mark. Despite the stagnant prices, the 24.2% gains since Oct. 7 instill confidence, driven by the impending effects of the 2024 halving and the potential approval of a spot Bitcoin exchange-traded fund
The United States Consumer Financial Protection Bureau (CFPB) has proposed a rule to allow it to supervise large non-bank digital wallet and app providers. The rule is part of a larger move by the agency that has seen it extend its supervision to consumer reporting, consumer debt collection, student loan servicing, international money transfers and
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