Month: April 2023

Bitcoin Should Be Central to Regulation of Digital Assets

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As we approach two decades since Satoshi’s landmark white paper, we still know very little about this enigmatic author’s politics or identity (although that has not stopped some from guessing). But we understand that this person (or persons) created an innovation – a technology derivative of another technology, encryption. As we’ve seen repeatedly, technology can be used for good or bad. It can create jobs or destroy them. It can harm the environment or bolster efforts to protect it. The art of sound policymaking is weighing the good and bad,…

Why Didn’t You Sell the News of Ethereum’s Shanghai Upgrade?

Going by the numbers, it seems like many ether (ETH) stakers have decided to hold onto their coins. Although several analysts predicted the just-completed Ethereum Shanghai hard fork (along with the separate Capella upgrade, together known as “Shapella”) would be a “sell-the-news” moment, ETH has actually climbed to eight-month highs. The second-largest crypto by market capitalization was trading above $2,000 for the first time since last summer, after gaining ~3% during trading hours in Asia. Source DidntEthereumsNewsSellShanghaiupgrade CryptoX Portal

UN Cybercrime Treaty Could Lead to Sweeping Surveillance of Crypto Worldwide

Article 93 of the draft treaty would require all nations that sign the treaty to implement onerous financial surveillance laws for cryptocurrency. Those financial surveillance laws would apply to any organization “engaged in activities related to the circulation of digital financial assets and digital currency,” even if they are nothing like a traditional financial institution. Like the dangerously broad Digital Asset Anti-Money Laundering Act introduced in the U.S. Senate, this incredibly broad language could be interpreted to include software developers, custodial and self-hosted wallet providers, miners, validators, nodes, non-fungible token…

Ethereum’s Shapella Upgrade Complete | Blockchain News

The Ethereum mainnet has completed its Shapella upgrade, allowing validators to finally withdraw their staked Ether on the Beacon chain. This successful execution is a significant step for Ethereum, as it enables validators to access their staked funds and provides an opportunity for ETH holders to move assets into Ethereum staking pools. At the time of writing, a total of 126,955.07 ETH had been withdrawn by validators. Of the 559,549 active validators, about 44% of them, or 248,043 validators, have the ability to request a partial or full withdrawal. The…

New 1099-DA Reporting Creates More Headaches for Taxpayers

It’s unclear how exchanges are going to manage customer basis and data tracking because 1099-DA reporting is currently deferred until final regulations are issued. One thing is clear, though – there will be differences and taxpayers will have extra work to correctly adjust gains and losses on their tax returns. Form 8949, used to report the detail all crypto trades, has adjustment codes to deal with incorrectly reported basis and other issues. However, this is easier said than done. In addition to the normal crypto tax headaches, taxpayers must track…

Judge orders YouTuber ‘BitBoy Crypto’ to appear and address alleged harassment

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A federal magistrate judge has signed an order requiring BitBoy Crypto YouTuber Ben Armstrong to appear in Florida as part of a status conference related to a lawsuit involving several crypto influencers. In an April 12 filing in the United States District Court for the Southern District of Florida, Judge Melissa Damian ordered Armstrong and his counsel to appear on April 20 along with the legal team representing the influencers. According to the order, the conference was aimed at bringing awareness of “Armstrong’s harassment towards plaintiffs’ counsel.” Armstrong, along with…

Inflation and recession loom, bitcoin remains stable

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As inflation and recession fears mount, many are blaming the Federal Reserve for raising rates too quickly. Despite these concerns, bitcoin (BTC) has maintained its stability, currently valued at $30,000. In a recent video, crypto YouTuber Ivan On Tech discussed the impact of macro news, altcoins, and the bitcoin chart, touching on topics like the Shanghai fork, the consumer price index (CPI) report, and Hong Kong banks’ support for cryptocurrencies. Bitcoin continues to show bullish momentum even as other cryptocurrencies have not seen significant price performance. Meanwhile, tron (TRX) is…