Tag Archives: United States

With new regulation and taxation on the cryptocurrency industry coming from the U.S., the situation just took another turn as President Joe Biden openly supported the highly unfavorable amendment proposed earlier by Senators Mark Warner and Rob Portman. Biden’s backing seems to target proof-of-stake assets, while mining appears untouched. Sitrep: Taxation and Regulation on Crypto in the U.S. The growth of the cryptocurrency sector pushed global watchdogs to strengthen their...

During an interview with Bloomberg, Gensler admitted that he is intrigued by the cryptocurrency space, but that wouldn’t deter him from protecting US investors via enhanced regulations on the market. Being deeply familiar with the blockchain space, as he taught DLT classes at the Massachusetts Institute of Technology (MIT), Gensler was expected to have a straightforward approach when it comes down to regulating the industry when he took charge at the SEC earlier this year. So...

Though the Justice Department declined to comment for the article, Bloomberg was able to report last week that the DOJ is investigating U.S. banks and the backers of popular stablecoin USDT. There is some ongoing speculation about how this might affect bitcoin’s price. What’s Supposedly Going on With Tether and the DOJ? The Justice Department is reportedly seeking to determine the extent of U.S. banks’ knowledge of Tether Limited’s business and the prolific use of its...

After weeks of prolonged consolidation and choppy sideways action in a very squeezed and narrow range, Bitcoin finally broke out. Fortunately, it was to the upside. Over the past week, BTC is up by a considerable 20%. At the time of this writing, it’s trading at around $39K, having pulled back slightly from the psychological and technical resistance at the coveted $40K level. It’s also worth noting that we saw an increased trading volume over the past week, and even though...

In an effort to drive crypto adoption in the United States, Dash, an open source cryptocurrency forked from the Bitcoin protocol, has recently launched a retail savings app dubbed DashDirect. Dash Launches DashDirect Savings App In its official announcement today, Dash revealed that the new app will allow DASH holders to spend their coins at thousands of retail stores in the U.S. Users of the app can pay with DASH for exclusive discounts on their everyday purchases at...

Tether executives are reportedly facing a probe from the US Department of Justice (DOJ), as prosecutors are looking into the company’s past activities with its banking partners. According to Bloomberg on Monday (July 26, 2021), the information came from three anonymous sources familiar with the matter. The DOJ is investigating whether banks were aware of the crypto-based transactions carried out by Tether. USDT is the largest stablecoin by market capitalization. The total...

Amazon seems determined to maintain its reputation as an innovative company and is looking to experiment with cryptocurrencies through a digital currency payment and blockchain unit. According to an announcement posted on Thursday, Amazon is looking for a blockchain specialist to lead its Digital Currency and Blockchain strategy. The Payments Acceptance & Experience team is seeking an experienced product leader to develop Amazon’s Digital Currency and Blockchain strategy...

Despite its recently rocky relationship with global regulators, leading cryptocurrency exchange Binance has revealed that its U.S.-based division, Binance US, is considering going public. Binance US Considers IPO Changpeng Zhao (CZ), founder and CEO of Binance, made this known at the ReDeFiNE Tomorrow 2021 blockchain virtual conference. Speaking on the future plans and the regulatory issues that his exchange has been facing, CZ hinted that Binance US is looking to go public...

Although the US Securities and Exchange Commission has failed to approve even a single BTC ETF application, the Grayscale CEO believes it’s a matter of “when, not a matter of if.” In a recent interview, Michael Sonnenshein also outlined that the current price correction has allowed long-term investors to accumulate more portions. BTC ETF: A Matter of When not if The topic of Bitcoin ETF has surged in popularity lately as Brazil and Canada already have multiple such products...

The Chairman of the Federal Reserve of the United States, Jerome Powell, said today that the country is working on a publisher’s report on digital currencies. The Fed Chair said that the incoming report would focus on digital payments “broadly.” Per his words, this also includes stablecoins, crypto-assets, and central bank digital currencies (CBDCs). We’re going to address digital payments broadly. It means stablecoins, it means crypto-assets, it means a CBDC. That whole...