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news-imageDecember 28, 2024

IRS Doubles Down on Immediate Staking Rewards Tax Stance

The U.S. Internal Revenue Service (IRS) has reaffirmed its stance on the immediate taxability of staking rewards, doubling down on a position assumed in 2023 as part of internal guidelines.
Publisher: Bitcoin
Sentiment: Negative
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Positive
cover-imageThe Currency Analytics
December 28, 2024

Michael Saylor Envisions $280 Trillion Crypto Market, Predicts Major U.S. Role in Global Digital Economy

Michael Saylor, the influential CEO of MicroStrategy, has recently shared a groundbreaking vision for the future of the cryptocurrency market, proposing a staggering $280 trillion market capitalization. This ambitious prediction comes as part of a broader proposal aimed at transforming the U.S. into the global leader in digital assets, with Bitcoin at the center of the financial revolution.

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Positive
cover-imageCoingape
December 28, 2024

US and EU Banks Accelerate Stablecoin Plans Amid Regulatory Progress

Banks across the United States and Europe are ramping up efforts to issue stablecoins, fueled by evolving regulatory clarity and market demand. The introduction of the EU's Markets in Crypto-Assets Regulation (MiCA) and growing global interest in blockchain-based payment solutions have prompted traditional financial institutions to compete with established crypto firms like Tether Holdings.

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Positive
cover-imageCryptoPotato
December 28, 2024

2024 NFT Revenue Tops Last Year's $8B Mark

Despite skepticism around the NFT sector due to declining hype, 2024's performance stands as the third-highest annual revenue on record.

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Neutral
cover-imageCryptoGlobe
December 28, 2024

Real-World Asset Tokenization: Promise, Challenges, and the Path Forward

As Bitcoin reaches record highs, the concept of tokenization—creating digital representations of real-world assets on blockchains—is once again capturing attention in financial and cryptocurrency circles. Long touted as a transformative technology, tokenization has seen both promises of revolutionizing traditional asset markets and periods of slow progress.

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Negative
cover-imageBitcoinist
December 28, 2024

Crypto Trading Volume Plunges 64% In The Past Week — What's Happening?

There was a good level of optimism in the crypto market heading into the past week, with many investors speculating on a potential “Xmas Rally” for Bitcoin. While the premier cryptocurrency did make a play for the $100,000 mark on Christmas day, it didn't take long for the bears to resume control.

general-iconGeneral
Negative
cover-imageCryptopolitan
December 28, 2024

Blockchain Association files lawsuit against IRS over its new DeFi regulations

The Blockchain Association has filed a lawsuit against the Internal Revenue Service (IRS) over its new regulations for the decentralized finance (DeFi) sector. The group is fighting against new IRS laws that will classify some protocols in the DeFi sector as brokers.

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Negative
cover-imageCoingape
December 28, 2024

Pudgy Penguins Phishing Scam: A New Threat to Crypto Security?

A new phishing scam is targeting Pudgy Penguins NFT holders, raising concerns over crypto security. The scam uses deceptive Google ads to redirect users to fake websites, stealing crypto wallet credentials.

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Positive
cover-imageCryptopolitan
December 28, 2024

Wall Street banks race to cash in on the crypto bull run

Bitcoin's price explosion this year has Wall Street scrambling like never before. The big banks, who once rolled their eyes at crypto and left it to the small fry, are now elbowing their way into the market.

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Negative
cover-imageBeInCrypto
December 28, 2024

IRS Faces Legal Pushback Over New DeFi Compliance Rules

Three prominent pro-crypto groups — the Blockchain Association, DeFi Education Fund, and the Texas Blockchain Council — have initiated legal action against the US Internal Revenue Service (IRS).

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Negative
cover-imageBitcoin
December 28, 2024

Brazilian Congresswoman Sounds Alarm on Drex CBDC Risks, Rejects Cash Elimination Bill

Julia Zanatta, a Brazilian congresswoman, has raised concerns about the effects of implementing drex, the Brazilian CBDC, on the lives of citizens. Zanatta emphasized that drex, if not properly implemented, might lead to the prohibition of physical money and proposed a ballot for its final implementation.

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Negative
cover-imageCoinPedia
December 28, 2024

Kyrgyzstan Crypto Mining Faces 50% Drop in Tax Revenue In 2024

In 2024, Kyrgyzstan experienced a sharp drop in tax revenue from cryptocurrency mining, despite the global rise in crypto valuations. The nation, known for its abundant hydroelectric resources, saw tax receipts from crypto mining fall by 50% compared to the previous year.

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Negative
cover-imageCoinPedia
December 28, 2024

Blockchain Association Files Lawsuit Against IRS Over New DeFi Regulations

Recently, the U.S. Internal Revenue Service (IRS) has announced new regulations that classify certain decentralized finance (DeFi) protocols as brokers. This move requires these protocols to disclose Know Your Customer (KYC) information for digital asset transactions.

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Negative
cover-imageCoinPedia
December 28, 2024

Crypto Hacks This Week: Pudgy Penguins Phishing Scam Leads the Pack

The crypto world stays to be the area of new discoveries on one hand, and hackers on the other. The major happenings for the current week were the creativity of hackers in hacking and the weak spots still existing in the ecosystem. Below, is a close-up view of the hacker attacks this week.

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Negative
cover-imageCoinPedia
December 28, 2024

IRS Targets DeFi: New Crypto Tax Rules to Shake Decentralized Platforms by 2027

The U.S. Internal Revenue Service (IRS) has introduced a new tax rule that will affect decentralized finance (DeFi) brokers. Starting in 2027, DeFi platforms will have to collect user trading information, issue tax forms, and provide customer details like names and addresses. This rule is meant to make digital asset taxes similar to traditional ones.

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Positive
cover-imageCryptoPotato
December 28, 2024

The Top 100 Crypto Assets' 6 Best Performers in 2024

The year saw a major rally for cryptocurrencies with the arrival of Bitcoin ETFs in January, the halving, and Trump's reelection. But it was an even bigger year for many of the top 100 crypto altcoins.

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Negative
cover-imageCoincu
December 28, 2024

Internal Revenue Service Imposes New DeFi Tax Rules

The Internal Revenue Service finalized regulations requiring DeFi brokers to report gross proceeds from digital asset transactions on Form 1099, starting January 1, 2027.

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Negative
cover-imageCrypto Daily
December 27, 2024

Why Altcoin Market Struggles to Rise?

Over the past 7 days, $WIF has dropped 12%, $BONK is down 8%, $ETH has fallen 4%, $SOL has slipped 3%, and $SHIB has decreased by 2%.

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Positive
cover-imageCryptoGlobe
December 27, 2024

Massive Stablecoin Deposits on Binance Signal Bullish Sentiment Among Whales

Cryptocurrency markets are currently seeing an “encouraging trend of whales moving stablecoins to exchanges,” with data showing that at least seven different deposits entered leading cryptocurrency exchange Binance in the last 24-hour period. According to data from on-chain analytics firm Santiment, at least one of these deposits was worth $50 million, equivalent to 2.

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