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Mexico lawmakers aim to follow the example of neighboring countries with proposed Bitcoin legislation

Eduardo Murat Hinojosa, a senator of the federal government of Mexico, has said he will be submitting a proposal to lawmakers seemingly aimed at crypto adoption in the country. In a tweet today, Hinojosa changed his profile picture to feature the senator speaking into a microphone with the iconic “laser eyes,” indicating support for crypto. The lawmaker said he would be “promoting and proposing a legal framework for crypto coins in Mexico’s lower house,” specifically mentioning Bitcoin (BTC). Voy a promover y proponer ante la Cámara de Diputados un marco…

Reports suggest BlockFi seeks to raise millions at a valuation of $5B

Cryptocurrency lending platform BlockFi is reportedly looking to raise hundreds of millions of dollars in new funding at a valuation of nearly $5 billion, offering further insights into the growth of crypto-focused companies.  The company, which was founded in 2017 by Zac Prince and Flori Marquez, is said to be in late-stage talks with new and existing investors to secure the capital raise, according to technology publication The Information. New York-based hedge fund Third Point Management and Hedosophia, a London-based venture capital firm, are reportedly leading the new funding round.…

Bitcoin Is The Bear Market Here??? [Crypto News 2021]

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Bitcoin Miner Mayhem, On-Chain Fees Drop 90% In Two Months

Bitcoin has been struck by the bears for its third consecutive week. At the time of writing, BTC has lost two critical support zones at $35,000 and $32,000. The first cryptocurrency by market cap trades at $31,987 with a 10.5% correction in the daily chart. BTC receives Bear attack in the 24-hour chart. Source: BTCUSD Tradingview The general sentiment in the market seems bearish, as BTC failed to gain a strong foothold on the high area around current levels. A report by Arcane Research concluded the recent correction follows a…

Concordium aims to end the era of anonymity in crypto industry

The anonymity of Bitcoin (BTC) and other cryptocurrencies is a hot topic in the crypto space. While the transactions are open to track in a public blockchain, it is challenging to link a transaction with a real-life person in many use cases. As an identity-centric platform, Concordium takes a different direction by offering complete transparency. “The time has come for the blockchain industry to respect the general rules of society,” Concordium chairman Lars Seier Christensen said in an announcement. The launch of Concodium Blockchain marks the end of the era…

How to Invest in Bitcoin Within 5 Minutes in 2021

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IRS Seeks Congressional Authority to Obtain Data on Cryptocurrency Transactions – Taxes Bitcoin News

The U.S. Internal Revenue Service (IRS) says it needs congressional authority in order to obtain the information needed to regulate cryptocurrency. “We get challenged frequently and to have a clear dictate from Congress on the authority for us to collect that information is critical,” IRS Commissioner Charles Rettig said. IRS Says It Needs More Authority to Collect Crypto Data IRS Commissioner Charles Rettig said Tuesday during a Senate Finance Committee hearing that the IRS needs more authority to do its job in regulating cryptocurrency. He said: I think we need…

IRS needs congressional authority to handle crypto, says chief

Internal Revenue Service chief Charles Rettig called out lawmakers for not taking the initiative on addressing the problem of many U.S. residents not paying taxes on crypto. In a Tuesday senate hearing on the IRS’ fiscal year 2022 budget, Rettig said that the agency would likely require a “clear dictate from Congress” to regulate crypto. The IRS has listed $32 million in its budget for “crypto-related enforcement operations” as well as $41 million related to cybercrime in its attempts to address the issue of non-reporting or underreporting taxpayers. “The authority…