The Internal Revenue Service (IRS) recently announced a temporary reprieve concerning the rules associated with cost basis reporting for cryptocurrencies. This decision is particularly significant for investors navigating the complex landscape of digital asset taxation. By postponing the stringent requirements that would obligate centralized crypto exchanges to adopt the First In, First Out (FIFO) accounting
The realm of cryptocurrency is constantly evolving, with companies pushing the boundaries of what is possible. Among these players, the AI platform ai16z is contemplating a transformative move by potentially launching a layer-1 (L1) blockchain network. This ambition is not just about creating another blockchain; it’s a strategic pivot towards an innovative tokenomics model designed
In recent days, the cryptocurrency market has been rife with bearish forecasts regarding Bitcoin’s price trajectory. Renowned analyst Peter Brandt has made headlines with his prediction that Bitcoin’s price could plummet to a worrying $78,000. This stance springs from his observation of a head-and-shoulders top pattern, a technical analysis formation that often signals a forthcoming
Recent developments indicate a significant shift within the financial industry as major players like Morgan Stanley’s subsidiary, E-Trade, prepare to enter the cryptocurrency trading space. Reports have emerged suggesting that E-Trade is strategically positioning itself to launch crypto trading services, largely driven by the expectation of a more favorable regulatory environment under the impending administration
In recent months, China has enacted stringent measures aimed at monitoring and controlling foreign exchange activities, particularly those associated with cryptocurrencies. The South China Morning Post sheds light on the directives issued by the State Administration of Foreign Exchange (SAFE), where banks are mandated to scrutinize and report any suspicious transactions. These new regulations seek
The realm of cryptocurrency has gained considerable traction in recent years, prompting regulatory bodies, particularly in the United States, to grapple with the complexities that accompany this digital asset class. As the landscape evolves, so too does the Tax Code, leading to a slew of regulations that affect how taxpayers report their crypto transactions. In
In an effort to navigate the overwhelming economic challenges that have burdened Syria for over a decade, the Syrian Center for Economic Research (SCER) has put forth a transformative proposal aimed at legalizing Bitcoin and digitalizing the Syrian pound. This approach reflects a significant departure from traditional monetary practices and is designed to lay the
While Bitcoin’s price has recently fluctuated between $93,000 and $96,000, this volatility has not deterred optimistic predictions from various market commentators. One particularly notable voice in the cryptocurrency community, Ted Boydston, has expressed an outlook suggesting that a significant bull run for Bitcoin is on the horizon, with projections targeting an ambitious price of $225,000.
As the year draws to a close, the infamous figure known as the “Blockchain Bandit” has resurfaced, signaling alarming developments in the world of cryptocurrency. On December 30, this enigmatic entity consolidated a staggering 51,000 ETH—valued at roughly $172 million—into a singular multisig wallet. This latest move was unveiled by blockchain investigator ZachXBT, who discovered
In a noteworthy development for cryptocurrency enthusiasts, Cardano (ADA) has surged by more than 10.75% within a mere 24-hour span, now trading at approximately $1.0481. This momentous price movement highlights a significant psychological threshold as it marks a rebound above the $1 mark, a level that many token holders have been eagerly anticipating after an
