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IRS Issues Crypto Broker Regulations

The US Internal Revenue Service (IRS) has issued its final draft of rules for crypto brokers to report income, offering clarifications on the scope of industry participants required to follow the regulations. Decentralized protocols and self-managed crypto wallets are not included. However, stablecoins and real-world assets (RWAs) will fall under the reporting standards. IRS commissioner Danny Werfel stated, “We reviewed thousands of public comments and believe this new guidance addresses...

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Court Dismisses SEC’s Charges Against BNB Token’s Secondary Market Dealings but Allows Multiple Others to Proceed

A US court has permitted several charges brought by the SEC against Binance to proceed, barring BNB’s selling on secondary markets, Binance’s sale of its BUSD stablecoin, and the exchange’s ‘Simple Earn’ program. Judge Amy Berman Jackson dismissed charges against entities selling BNB on secondary markets based on Judge Analisa Torres dismissing the SEC’s case against Ripple. Eleanor Terret, Fox Business reporter, mentioned on X, “You can fully expect @coinbase, @krakenfx and @Consensys...

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Crypto Investors Shift Focus To Spot Ethereum ETFs: Ondo Finance (ONDO), Render (RNDR) And ETFSwap (ETFS) Will Benefit The Most 

Ondo Finance (ONDO), Render (RNDR) and ETFSwap (ETFS) are three DeFi altcoins projected by top analysts to profit the most from a Spot Ethereum ETFs mega rally as crypto investors shift focus to spot ETH ETFs forecasted to launch into the markets on July 2nd 2024. ETFSwap (ETFS) Set To Lead 2000x Gains Following Launch Of Spot Ethereum ETFs Crypto investors are shifting their investment focus to the ETFSwap (ETFS) viral presale, having identified its robust token utilities and...

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