A popular analyst is diving into the price charts for half a dozen crypto assets as the markets rebound from a challenging last few months. The pseudonymous trader Altcoin Sherpa tells his 180,400 Twitter followers that while he foresees smart contract platform Solana (SOL) rising to around $60 as long as Bitcoin (BTC) holds up, …
Monthly archives: July 2022
US Congressman Says SEC Is Overstepping Bounds When It Comes to Regulating Crypto Assets
A US Representative says the U.S. Securities and Exchange Commission (SEC) has become power hungry when it comes to regulating crypto assets. In a recent Congressional meeting, Representative Tom Emmer of Minnesota says the SEC is unfairly cracking down on crypto firms that are not within its jurisdiction. “Chair [Gary] Gensler’s political regime, carried out …
SEC listing 9 tokens as securities in insider trading case ‘could have broad implications’ — CFTC
Caroline Pham, one of five commissioners with the United States Commodity Futures Trading Commission, or CFTC, has expressed concerns about the possible implications of a case the U.S. Securities and Exchange Commission, or SEC, brought against a former product manager at Coinbase. In a Thursday statement, Pham said the SEC complaint against former Coinbase product …
SBF: Crypto winter winding down, FTX to turn a profit as it serves as lender of last resort
The economic crisis in crypto is waning, FTX co-founder and CEO Sam Bankman-Fried thinks. He noted, in an interview on Axios Pro on Thursday, that he is no longer getting “a ton of calls” from distressed businesses, as he was in the first weeks of the so-called crypto winter. Given a positive economic macro-environment, recovery …
Mercado Bitcoin plans to expand to Mexico
Brazilian crypto exchange Mercado Bitcoin could begin operating in Mexico sometime in 2022, pending regulatory approval. Speaking to Cointelegraph on Thursday, Mercado Bitcoin CEO Reinaldo Rabelo said the company was awaiting regulatory approval to start operations in Mexico. The details of the expansion are unclear, but Rabelo said in an April interview that acquiring a crypto …
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India’s finance minister says punitive crypto taxes will remain in force
Local media outlet Financial Express reported that the Indian government has no plans to reduce taxation on crypto transactions. On April 1, India implemented a 30% tax on income gained from cryptocurrency activity. More recently, lawmakers imposed an additional 1% Tax Deducted at Source (TDS) rate. Exchange trading volumes have taken a significant hit as …
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Global Bitcoin mining ‘one of the most sustainable industries globally,’ BTC Mining Council claims
The use of sustainable energy in Bitcoin (BTC) mining reached 59.5% globally in Q2 2022, a 6% year-on-year increase from Q2 of last year, the Bitcoin Mining Council (BMC) estimates. This makes Bitcoin mining “one of the most sustainable industries globally,” according to a July 19 press release by BMC. BMC is a voluntary global …
Ex-Coinbase manager arrested in insider trading case for leaking asset listing details
The U.S. Department of Justice on July 21 arrested former Coinbase product manager Ishan Wahi, and his brother Nikhil Wahi, and charged Sameer Ramani with alleged wire fraud. The charges were brought in connection with what the DOJ described as the “first-ever cryptocurrency insider trading” scheme. Ramani is on the run from the authorities. Damian …
US lawmakers propose bank-like regulation for stablecoin issuers
Two US lawmakers, Maxine Waters and Patrick McHenry are collaborating on a bill that would impose strict bank-like regulations for stablecoins, The Wall Street Journal reported July 20. Stablecoin issuers would reportedly be forced to have their reserves backed in conservative assets like cash and US Treasury bonds that would not be vulnerable to market …
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South Korea defers 20% crypto tax implementation to 2025
The South Korean government on July 21 reportedly postponed the implementation of its 20% crypto tax to 2025, according to South Korean news outlet hankyung. Crypto tax delayed According to the report, the government cited the lack of a proper investor protection system alongside the current unfavorable market condition as why it decided to defer …
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Another 3 BTC Jackpot Won at Bitcoin.com Games, Over 15 Players 10x Their Deposits Just This Month
A lucky player wins a 3 bitcoin jackpot on a newly released live casino game at Bitcoin.com’s crypto casino. Over 15 Players Make More on Casino Games Than They Would on The Market A Rewarding Month for Casino Players The month of July has turned out to be extremely lucky for those 15 players who …
Report: Blockchain.com Cuts Staff by 25%, Executive Salaries Reduced
Jamie Redman Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,700 articles for Bitcoin.com News …
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Spanish Crypto Exchange Bit2me Won’t Absorb 2gether Customers Due to Internal Discrepancies
Bit2me, a Spanish cryptocurrency exchange, announced that the deal it aimed to complete with 2gether, another Spanish exchange, fell through due to internal discrepancies. The company hoped to absorb the customers of 2gether after it blocked operations, forcing users to pay €20 to keep using the platform after having declared it could no longer provide …
US Lawmaker Slams SEC for Not Regulating in Good Faith — ‘Under Chair Gensler, SEC Has Become Power-Hungry’
A U.S. congressman has slammed the Securities and Exchange Commission (SEC) and Chair Gary Gensler for cracking down on companies outside the SEC’s jurisdiction. The SEC “is not regulating in good faith,” he said, adding that “Under Chair Gensler, the SEC has become a power-hungry regulator.” Rep. Emmer Slams SEC and Chair Gensler The director …
Biggest Whale in Bitcoin Suddenly Dumps Over $1,400,000,000 in Crypto As BTC Cracks $23,000
One of the biggest Bitcoin (BTC) whales in the world is rapidly selling off BTC amid the crypto market upswing. The whale, which was the richest non-exchange address in the world until earlier this week, has sold off a whopping 78,484 BTC since Monday, according to BitInfoCharts. With Bitcoin trading for $23,258 at time of …