The United States Internal Revenue Service continues to propose new tax reforms to regulate the crypto investments in the U.S., with the latest notice sharing tax obligations for the marijuana industry.The notice, signed by IRS Small Business/Self-Employed Division Commissioner De Lon Harris, reflects the priorities of the United States federal agency to ensure cryptocurrency tax compliance among local businesses that…
The year 2020 may well go down as the year when blockchain technology and cryptocurrencies, in particular, gained mainstream recognition. The restrictions on movement, as well as the widespread fear of catching a virus, forced many to look for alternative ways of making payments or sending remittances. This search for an alternative inevitably led many to crypto. Although the use…
Bitcoin (BTC) fell below $42,000 on Sept. 28 as the largest cryptocurrency worsened overnight losses.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewBTC bulls run out of steam at $44,000Data from Cointelegraph Markets Pro and TradingView showed BTC/USD reaching local lows of $41,670 on Bitstamp.The fall followed a $1,000 hourly loss late Monday, which firmly halted any bullish hopes from the weekend’s…
Chinese e-commerce giant Alibaba is the next company to wrap its cryptocurrency-related services in response to the ongoing crypto crackdown in China.Alibaba officially announced Monday that its platform will prohibit sales of cryptocurrency miners and suspend categories for blockchain miners and accessories from its website on Oct. 8.In addition to stopping sales of crypto mining devices, Alibaba will impose a…
Anthony Scaramucci, CEO of Skybridge Capital, a multi-asset class investment firm, says he thinks the institutional investment boom in cryptocurrencies has been greatly exaggerated. In an interview given to Bloomberg last week, Scaramucci stated that most institutions are still not interested in cryptocurrency as an investment and that only 10% are actively investing in crypto. Anthony Scaramucci Thinks Institutions Are…
Blockchain and high performance computing firm Northern Data has announced it will acquire Bitcoin miner Bitfield. According to a Sept. 27 press release, all major shareholders signed a binding purchase agreement for the entire Bitfield enterprise to be sold at a value of roughly $460 million. Northern Data will acquire an equity interest of between 86% and 100% in Bitfield…
Jamie Dimon, the CEO of one of the biggest financial institutions of the world, JPMorgan, has once again let the world know about his stance on bitcoin and cryptocurrencies. Dimon stated that whoever borrowed money to purchase bitcoin was, in his opinion, a “fool.” However, his personal opinion has not clashed with the fact that JPMorgan is now offering access…
press release PRESS RELEASE. AscendEX, a global digital asset trading platform, is thrilled to announce the listing of the Refinable token (FINE) under the pair USDT/FINE on Sept. 28 at 1 p.m. UTC. Refinable is an interactive, multi-chain capable NFT marketplace with a one-stop solution to create, discover, trade, and leverage NFTs for brands and creators. Refinable is the first…
The node count for Bitcoin’s leading layer-two solution, the Lightning Network (LN), has spiked to record levels following a surge of adoption.According to on-chain analytics provider Glassnode’s Sept. 27 Week on-Chain report, the number of Lightning Network nodes increased by 160% during September to tag a record high of 15,600. At the end of August, just 6,000 LN nodes were…
Facebook has announced it will allocate $50 million to a two-year fund tasked with beginning work on realizing the firm’s vision for a virtual metaverse. A Sept. 27 announcement articulates Facebook’s roadmap for building its metaverse, with the funding slated to back “global research and program partners” looking to build out the platform in addition to internal research.The metaverse won’t…
