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Early morning gains for the crypto were quickly erased in Thursday afternoon trading. Bitcoin (BTC) tumbled back below $27,000, reversing its advance from a day ago as investors continued to weigh the ongoing debt ceiling talks in Washington, D.C. and the latest regulatory moves. The largest cryptocurrency by market capitalization was recently trading at around $26,700, down 2.1% over the...
Treasury Secretary Janet Yellen warned the U.S. could breach its debt limit by June 1, potentially setting off a recession in the event of default. U.S. Treasury Secretary Janet Yellen (Photo by Chip Somodevilla/Getty Images) Bitcoin (BTC) continued its slightly downward consolidation on Tuesday, slipping just below $27,000 as investors kept close attention on the debt ceiling negotiations in Washington....
The worldâs largest crypto exchange by volume said new guidance related to stablecoins and investor limits prompted the exit. (Sebastiaan Stam/Unsplash) Crypto exchange Binance has announced that it would cease operations in Canada, citing the challenging regulatory environment. âWe had high hopes for the rest of the Canadian blockchain industry,â the company said in a Fridaytweet. âUnfortunately, new guidance related...
Rep. Patrick McHenry (R-N.C.) (Suzanne Cordeiro/Shutterstock/CoinDesk) The U.S. Securities and Exchange Commission (SEC) has so far disregarded congressional requests for information on its interactions with crypto platforms seeking registration as exchanges, according to Republican lawmakers in the House of Representatives, who threatened a hearing if theyâre ignored any longer. Rep. Patrick McHenry (R-N.C.), the chairman of the House Financial Services...
The U.S. securities regulator recently proposed requiring investment advisers to keep customersâ crypto assets with âqualified custodiansâ and is now facing wide criticism for the potential future rule. Gary Gensler, chair of the U.S. Securities and Exchange Commission (Evelyn Hockstein-Pool/Getty Images) The U.S. Securities and Exchange Commission (SEC) went too far when itproposed a new ruledemanding investment firms safeguard all...
The Bitcoin mempool was clogged with over 400,000 transactions waiting to be processed on May 7. Crypto exchange Binanceclosed Bitcoin withdrawals on May 7 due to an alleged overflow of transactions on the Bitcoin network. The Bitcoin mempool was clogged with over 400,000 transactionswaitingto be processed at the time of writing. The mempool is known as the âwaiting areaâ for...
The nation's budget will be presented on June 8. Kenya's Finance Ministry, the National Treasury, has proposed a 3% tax on the transfer of digital assets for the coming budget year, according to a Bloombergreportthat cites proposals presented to lawmakers. The nation's budget will be presented on June 8. Kenya elected William Ruto as its President in 2022 when its...
Riot Platforms (RIOT), Marathon Digital (MARA) Could Face Hefty U.S. Crypto Mining Tax Policy The Biden administration is campaigning for a tax first sought in a recent federal budget proposal, advocating that crypto miners pay an amount equal to 30% of their energy costs. (Getty Images) U.S. President Joe Biden is looking to impose a punitive tax on crypto mining...
Rep. Patrick McHenry, chairman of the House Financial Services Committee, says his and the Agriculture panel will meet jointly in May as they work on crypto legislation. AUSTIN, Texas â The U.S. House Financial Services Committee and House Agriculture Committee will put together legislation to oversee the crypto sector in the "next two months" after holding joint public hearings starting...
Dices over newspaper (AbsolutVision/Pixabay) Blockchain data shows long-term holders of bitcoin (BTC) are profitable for the first in almost a year. Historically, renewed profitability for long-term holders has presaged major market rallies. The seven-day average of bitcoin's long-term holder spent output profit ratio (LTH-SOPR) has crossed above 1 for the first time since May 2022, according to data tracking firm...
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