Crypto investors and their brokerages are waiting for a U.S. tax rule that will completely overhaul how they report their cryptocurrency taxes, but the government isn’t offering any straight answers about its holdup even as prominent lawmakers clamor for the Treasury Department to finish the job. Source
Tag: LongAwaited
Bitcoin (BTC) Infrastructure Firm Blockstream to Unveil Its Long-Awaited Mining Rig in 3Q of 2024
Bitcoin infrastructure firm Blockstream expects to unveil its long-awaited Application-Specific Integrated Circuit (ASIC) miner – a culmination of years of engineering work – around the third quarter of 2024, according to Blockstream CEO and co-founder Adam Back during the company’s first ever media briefing on Tuesday. Source
Ethereum (ETH) Rallies to 8-Month High Just 8 Days to Long-Awaited Shanghai Upgrade
Cash flow from Bitcoin to the Ethereum market has significantly contributed to today’s price bump according to Lewis Harland, Decentral Park Capital’s portfolio manager. After consolidating for the past two weeks, the Ethereum (ETH) market has begun gaining traction over Bitcoin (BTC) during the early New York trading session on Tuesday. According to the latest crypto market data, Ethereum’s price rallied to a 24-hour high of around $1,886, up over 3 percent during the day. With over $30 billion staked in the Ethereum ecosystem, the DeFi ecosystem is currently focused…
Successful Ethereum Shapella Testnet Beckons Long-Awaited Shanghai Mainnet Upgrade
Ethereum recently concluded its final dress rehearsal, dubbed Shapella, on the Goerli testnet en route to its mainnet upgrade. The Ethereum Shapella upgrade is on course for launch following its successful activation on the Goerli testnet. According to reports, this development is in the final phase before the upgrade goes live on the mainnet. With the Ethereum Shapella upgrade mainnet development, stakers can unstake their Ethereum (ETH) from the protocol. According to Ethereum developer Tim Beiko, the mainnet upgrade will happen next month following the Goerli forking. Beiko added that the fork is a requisite…
What’s Inside the FSOC’s Long-awaited Report on Crypto Regulation
The Financial Stability Oversight Council (FSOC) published its own highly anticipated report in response to U.S. President Joe Biden’s executive order on crypto earlier this week, calling on Congress to define the line between a security and a non-security, at least as far as crypto is concerned. Source
Fed to issue long-awaited guidelines for granting master accounts to crypto banks
The United States Federal Reserve Board announced Monday that it had finalized its guidelines for the factors reserve banks are to consider when reviewing requests for Federal Reserve accounts and payment services. The guidelines create a three-tiered review framework with the level of due diligence to be provided, depending on the applicant’s risk level. Guidelines were first proposed in May 2021, with a supplemental proposal released in March, and the final guidelines, which come into force after their publication in The Federal Register, are “substantially similar” to them. The Fed…
Reserve Rights (RSR) builds momentum ahead of its long-awaited mainnet launch
Bitcoin was created to give the average person a peer-to-peer economic system and a store of wealth asset that could provide financial autonomy and access to banking, especially for people living in places where financial services are sparse or non-existent. In the last five years, there have been a number of blockchain projects that aim to mirror Bitcoin’s original mission and the growing popularity of stablecoins further highlights the need for alternative financial models. One project that is beginning to see a bit of momentum is Reserve Rights (RSR), a…
Ethereum Rollup Optimism Launches DAO, Announces Long-Awaited Airdrop
Crypto Twitter has lit up with users excited to learn they will be eligible to claim Optimism’s OP tokens in an upcoming “season of airdrops.” Source
Biden Issues Long-Awaited US Executive Order on Crypto
“Already, the Department has worked with the President’s Working Group on Financial Markets, the FDIC [Federal Deposit Insurance Corporation], and OCC [the Office of the Comptroller of the Currency] to study one particular kind of digital asset – stablecoins – and to make recommendations,” Yellen said. “Under the executive order, Treasury and interagency partners will build upon the recently published National Risk Assessments, which identify key illicit financing risks associated with digital assets.” Source
Bitcoin centers on $44K as BTC price MACD delivers long-awaited bull signal
Bitcoin (BTC) hovered around $44,000 on Feb. 9 as a modest uptick towards the Wall Street open provided relief for support levels. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Melt-up or breakdown? Data from Cryptox Markets Pro and TradingView showed BTC/USD acting in the range defined in recent days without significant downside pressure. Circling $44,000, traders were mostly preoccupied with a potential retracement, this having the potential to wipe out practically all recent progress. “Now that we are at monthly resistance we may see a pullback. Even if we do, a…