Crypto news

The American lawmakers proposed new cryptocurrency taxation that would raise nearly $28 billion in extra tax revenue. As part of it, digital asset investors in the US would have to report transactions that exceed $10,000 to the International Revenue Service. The Senate Aims to Collect More Taxes According to a recent Bloomberg report, the American government aims to implement stricter rules on companies and people dealing with digital assets. The proposed new taxation law...

Just yesterday, Live Bitcoin News reported that Amazon – arguably the biggest retailer in the world – was going to begin accepting cryptocurrencies by the end of the year as forms of payment. However, now it looks like this idea was a simple rumor, and Amazon has come out to suggest that it has no plans whatsoever in accepting bitcoin or other forms of digital assets as payments for goods or services. Amazon Says “No” to BTC Payments… For Now At this stage, bitcoin...

The International Monetary Fund (IMF) is advising all countries to avoid making bitcoin or any other form of crypto their national currencies. The IMF Advises Making BTC Anything Other Than a Speculative Asset In a blog post, the IMF advises against making any sort of digital asset the currency of a national people. While the post does not mention any specific region, many countries – such as China – have turned towards making digital versions of their national...

It seems the number of crypto users has doubled since January 21 this year, according to research on global crypto adoption by Crypto.com.  The report gathered information from 24 leading crypto exchanges using on-chain data based on various parameters —identifying over 220 million users by the end of June. February and May were the months when the inflow of new users reached their peak: 203 million.  Altcoin Market Surged Largely Thanks to SHIB and DOGE The altcoin market...

Just yesterday, Live Bitcoin News published a piece discussing how few Americans are investing in cryptocurrency. While many residents of the region have no doubt heard of bitcoin and its digital counterparts, it appears many of them have not actually taken the leap into buying them. However, in Singapore, it seems that these results are the exact opposite, as the country has full-on embraced BTC and its virtual brothers and sisters. Singapore Really Loves Its Crypto...

The International Monetary Fund opined that risks and costs outweigh the potential benefits of digital assets. They can also be highly volatile, and thus their implementation as national currencies is not suitable for now. Cryptocurrencies Are Not Related to The Real Economy The International Monetary Fund (IMF) warned in a recent publishment that digital assets are not quite ready to be employed as national currencies. Despite highlighting their potential to provide faster...

ADA/USD – ADA Trades Inside Ascending Price Channel Key Support Levels: $1.23, $1.18, $1.12.Key Resistance Levels: $1.30 – $1.32, $1.40, $1.45. ADA is up 22% since rebounding from support at $1.05 nine days ago. From there, the cryptocurrency established an ascending price channel as it broke above the 200-day MA and the 2-day MA. ADA is now struggling to close above the $1.30 resistance and uses the lower angle of the ascending price channel as support. $1.30 provided strong...

The American financial institution State Street Corporation will reportedly start offering digital assets services for its private-fund clients. The bank’s partner in the move is the back-office crypto-focused technology company – Lukka Inc. State Street Dives Deeper into Crypto According to a recent Bloomberg report, the leading US bank – State Street Corporation – is looking to offer cryptocurrency reconciliation, reporting, and processing services to its private-fund...

Bitcoin is up by an impressive 22% this week as it currently battles with the $40K resistance area. As mentioned before, for the past two months, bitcoin’s price was trading between $30K and 42K. This week saw its highest point since June 15 ($41.3K according to BItstamp). The past week has been promising for BTC, after breaking a descending wedge pattern and finally getting to overcome both the 20 and the 50 days moving average lines. This break of the 50-day MA was the...

PayPal will reportedly take another step in its cryptocurrency endeavors and roll out a “super app wallet” for its American users. The company will launch the upgraded version in the upcoming months. Additional Crypto Capabilities for PayPal Clients The Chief Executive Officer of the company – Dan Schulman – revealed during PayPal’s Q2 2021 Earnings Call that the firm would enhance its digital assets services by offering its users an upgraded version of its application. Named...