Tag: Digital

U.S. President Again Proposes Crypto Mining Tax, ‘Wash Sale Rule’ for Digital Assets in New Budget

According to a summary table, the administration projects it could generate over $1 billion in the 2025 fiscal year by including digital asset transactions in wash sale rules alone, and north of $8 billion by including cryptocurrencies in mark-to-market rules. Over a 10-year period, these two rules could generate $25 billion and $7.3 billion, respectively (the budget seems to expect the mark-to-market rules adding to the national deficit after 2025). An excise tax on mining could remove some $7 billion from the national deficit over the next decade, the file…

Galaxy Digital CEO Anticipates BTC Reaching $100K This Year Citing ‘Runaway Momentum’ in Spot Bitcoin ETFs

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Galaxy Digital CEO Mike Novogratz firmly believes that bitcoin will reach $100K this year. “Right now there are more buyers and sellers,” he explained, adding that there is “runaway momentum” in bitcoin exchange-traded funds (ETFs). In addition, he pointed to a “new phase of bitcoin” as the asset class welcomes baby boomers. He further asserted […] Original

Digital assets are rising again, but is the bull run here to stay?

Disclosure: The views and opinions expressed here belong solely to the author and do not represent the views and opinions of crypto.news’ editorial. In 2016, British documentarian Adam Curtis released a film titled “HyperNormalisation,” it is his critique on the evolving nature of power in the international system or, more precisely, the lack of power that few want to admit. In 2024, our international system is more complex and less stable than it was only eight years prior. In fact, the war in Europe, geopolitics in the Pacific, and military…

Jerome Powell Clarifies: US Far From Introducing a Central Bank Digital Currency

Federal Reserve Chair Jerome Powell stated before the Senate Committee on Banking, Housing, and Urban Affairs that the United States is far from adopting or even recommending the introduction of a central bank digital currency (CBDC), emphasizing a significant distance from such a possibility. He assured that any potential CBDC would not be designed for […] Source CryptoX Portal

Russian economist sees bleak future for Bitcoin with the rise of digital ruble

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Alexander Razuvaev, a notable Russian economist and member of the supervisory board of the Guild of Financial Analysts and Risk Managers, recently made predictions concerning the future of Bitcoin following the onset of a Russian CBDC.  The economist argued that the emergence of digital currencies, such as the digital ruble and other central bank digital currencies (CBDCs), would lead to a significant decrease in their value. Despite this, Razuvaev clarified that cryptocurrencies would not disappear entirely but would become less prominent. Razuvaev highlighted the current state of the cryptocurrency market…

How to Achieve Security and Decentralization in the Evolving World of DeFi and Digital Assets

As blockchain permeates finance over the coming years, we’ll see diverse technical architectures emerge across the centralization spectrum, trying to strike the right balance between openness and security. If we get the formula right, blockchain could unlock immense positives for institutions, consumers, and society — efficiency, transparency, scalability, and more. Source