Day: November 30, 2023

Coinbase tracks 6% rise in info requests from law, government agencies

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Crypto exchange Coinbase says it had recorded a 6% rise in requests from law enforcement and government agencies compared to 2022, with the number of jurisdictions issuing requests jumping by 19, according to the exchange’s annual Transparency Report. Four countries — the United States, Germany, the United Kingdom, and Spain — made up nearly three-quarters (73%) of the 13,079 agency requests to Coinbase for information between Q4 202 The United States made 5,686 requests to Coinbase, up from 5,304 last year, with 90.4% of those from criminal enforcement agencies. That…

SEC meets with Grayscale, BlackRock about potential bitcoin ETFs

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Bitcoin. Filip Radwanski | Sopa Images | Lightrocket | Getty Images The Securities and Exchange Commission is formally engaging with asset managers ahead of a much anticipated decision on whether the regulator will approve a bitcoin ETF, according to memos published this week. The regulator said in a memo that it met with Grayscale on Thursday about the potential conversion of the Grayscale Bitcoin Trust into an ETF. The SEC had previously blocked this move, but Grayscale challenged that decision in court and won. SEC officials also met with representatives…

3 Bitcoin-Like Proof Of Work Altcoins That Could Make You A Millionaire In 2024

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Bitcoin is still the leading proof of work blockchain and has already made massive moves over the years, with countless millionaires at the same time. However, with the price of Bitcoin having moved so much already, the upside is fairly limited, especially for crypto investors who do not have ample buying power to make a Bitcoin investment worth their while. In this vein, altcoins offer the best opportunity for smaller and retail investors to make the most money. But not just any altcoins; these coins also employ the proof of…

Australian tax data shows a growing desire to hold crypto for DIY retirement

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Australians are increasingly looking to cryptocurrency to secure a peachy retirement, with allocation to the asset class from self-managed retirement funds increasing 400% in just four years — and the growth rate surpassing stocks and bonds.  As of the quarter ending in September, the nearly 612,000 self-managed super funds (SMSFs) are holding a total of $658.6 million (992 million Australian dollars) worth of cryptocurrencies, show statistics released on Nov. 26 from the Australian Tax Office (ATO). The latest figure is a 400% increase from the same quarter in 2019, which…

dYdX To Unlock $478M Worth Of Tokens, Will Bears Have A Field Day?

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On December 1, dYdX, the layer-2 decentralized exchange, will unlock 150 million DYDX worth roughly $478 million to early investors and core team members. This substantial unlock has raised concerns among investors, who fear the influx of fresh tokens could substantially increase supply. If this is not matched by high demand, DYDX prices will likely pull back, reversing recent gains posted over the past few trading weeks.  DYDX Worth $500 Million To Hit The Market According to Bubblemaps data, out of the $478 million worth of DYDX, over 50% is allocated to venture…

IRS proposal to track your wallets will put a damper on the crypto industry

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The United States Internal Revenue Service (IRS) is considering a proposal that would have sweeping consequences for the cryptocurrency industry. Investors should be concerned, because it could significantly impact the way that individuals — both inside and outside America — are allowed to engage with digital assets. The IRS is proposing an initiative under Section 6045 of the tax code to establish new tax rules for the treatment of cryptocurrency providers. Specifically, the agency is seeking to amend the law to expand the definition of “brokers” to include nearly all…

Republicans’ Leadership Squabbles Delayed U.S. Crypto Bills Until 2024, Key Lawmakers Say

“That, I think, set us back a little bit,” echoed Sen. Cynthia Lummis (R-Wyo.) at the same event. Lummis, who has been pressing her own wide-ranging crypto legislation in the Senate, also suggested that the stablecoin bill, specifically, will make more progress next year. “That is an area that could come early in 2024.”Rep. Jim Himes (D-Conn.), who has also occupied a leading role in the House negotiations for both bills as the committee’s top Democrat Rep. Maxine Waters (D-Calif.) withdrew support, suggested the industry needs to counter what House…

Circle denies claims of illicit financing and ties to Justin Sun

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USD Coin (USDC) stablecoin issuer Circle has denied claims of illicit financing and ties to Tron founder Justin Sun in an open letter posted to Circle’s blog on Nov. 30. A nonprofit watchdog group previously accused Circle of having ties to Sun. Circle’s open letter to U.S. Senators Elizabeth Warren and Sherrod Brown. Source: Circle The post was published on Nov. 11 and modified on Nov. 30, but Cointelegraph couldn’t determine the publication date of the letter itself. The letter was addressed to U.S. Senators Elizabeth Warren and Sherrod Brown…

Courts will provide ‘good guidance’ for crypto — CFTC commissioner

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Kristin Johnson of the United States Commodity Futures Trading Commission (CFTC) said there are many ways of handling cryptocurrencies in the country, but legislating through courts could provide a solid, if slow, path. Speaking at the Blockchain Association’s Policy Summit in Washington, D.C. on Nov. 30, Johnson said the “best outcome” for corporate governance of crypto firms would be to have companies implement their own plans. She cited policymakers introducing reporting requirements for Binance as part of a $4.3 billion settlement with the crypto exchange. We’re honored to welcome @CFTCjohnson…

A New Player Just Joined The Game

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In the ongoing Spot Bitcoin ETF mania, Pando has joined the race aiming to seize the opportunities that may arise following the potential approval of BTC Spot ETFs by the US SEC.  Pando Submits Spot Bitcoin ETF Filing Switzerland-based asset management company, Pando Asset has become the latest entrant into the Spot Bitcoin Exchange Traded Fund (ETF) race. The investment firm officially submitted its Spot BTC ETF filing to the United States Securities and Exchange Commission (SEC) on November 29. The news of the late filing comes as a surprise…