A bipartisan group of U.S. senators have called on Treasury Secretary Janet Yellen to clarify the language in the infrastructure bill signed into law by President Joe Biden around the tax reporting requirements on crypto. In a Tuesday letter, Senators Rob Portman, Mike Crapo, Pat Toomey, Mark Warner, Kyrsten Sinema, and Cynthia Lummis urged Yellen to “provide information or informal guidance”…
In brief MetaBirkins has sold 230 ETH worth of NFTs on OpenSea. Birkin handbag creator Hermès says the NFTs are “fake Hermès products in the metaverse.” Hermès, the company behind the famous Birkin line of handbags, has spoken out against a collection of non-fungible tokens (NFTs), MetaBirkins, calling them an infringement on Hermès’ trademark. “Hermès did not authorise nor consent…
There was much more said in Federal Reserve Chair Jerome Powell’s recent testimony, given before the U.S. Congress on November 30, than met the eye, but you have to know about the Fed’s actual influence in order to read between the lines. Headlines of Powell retiring the term “transitory” will lead many casual observers to believe Powell admitted that he…
Bitcoin’s (BTC) price has been in a down-trend since the $69,000 all-time high on Nov. 10, when the the Labor report showed inflation pushing above 6.2% in the United States. While this news could be beneficial for non-inflationary assets, the VanEck physical Bitcoin exchange-traded fund (ETF) denial by the U.S. Securities and Exchange Commission (SEC) on Nov. 12 threw some…
In brief Sound lets musicians sell NFTs tied to their songs. The NFTs let fans leave comments on a new song. A growing number of up-and-coming musicians are being discovered on TikTok and SoundCloud—platforms that can help them go viral, but that offer little in the way of money to support their career. That’s why a startup called Sound believes…
On the surface, Bitcoin seems poised to take over as the world reserve currency based on the game theory of people converging on the adoption of a single hard and sound currency. The original cryptocurrency has officially entered into its teenage years following the publication of the white paper on October 31, 2008. Plebs have been stacking bitcoin since the…
Cryptocurrency prices and investor sentiment reversed course on Dec. 15 after Federal Reserve chairman Jerome Powell confirmed the bank’s plan to hike interest rates in 2022 and slow down the bond purchasing program that had been in play since the emergence of the coronavirus in March 2020. Following the announcement, Bitcoin (BTC) price tacked on a 1.65% gain, bringing the price…
The era of easy money may soon be coming to an end in the U.S. And markets are excited. The Federal Reserve indicated today it would start phasing out its pandemic stimulus program—in which it bought bonds to increase the monetary supply—quicker than it had planned. The Fed also said it plans to raise interest rates, which now hover near…
As both fractional and traditional non-fungible tokens (NFTs) have seen exponential growth this year, the firm Otis has announced the launch of a marketplace called Otis House. The platform is a new NFT project that turns physical items into NFTs, and the tokens can be traded at any time for the physical items stored in a vault. The platform has…
The Giving Block, an online platform which allows nonprofit organizations and charities to accept digital asset donations, has launched a service tailored to donors wishing to send large amounts of crypto. In a Wednesday announcement, the Giving Block said it partnered with crypto tax startup Taxbit, New York-based accounting firm Friedman LLP, and Ren to start a service aimed at…
