Tag Archives: crypto

Lawmakers and regulators’ increasing scrutiny of crypto markets, including the debate over the U.S. infrastructure bill’s crypto tax reporting provision, may be spooking retail investors but not institutional ones, recent blockchain data from Glassnode indicates.   These larger investors, as represented by large-value dollar transactions, fueled Bitcoin’s nearly 20% price gains since last week, the Berlin-based blockchain data firm found. A number of analysts say the trend shows that… Source link

The cryptocurrency space continues to be characterized by conversations surrounding its adoption and investment by large institutional investors. Landmark events like Coinbase’s (COIN) direct listing in April may suggest that digital currencies are beginning to break into the mainstream. According to Fidelity Digital Assets President Tom Jessop, however, there are two emerging themes that are becoming apparent about cryptocurrency. “What’s apparent are two things — this is seen as its… Source link

A bipartisan trio of senators is trying to change a cryptocurrency provision in the infrastructure bill that the industry warns will have a “devastating” impact on the space. As it stands, the infrastructure bill aims to raise revenue by cracking down on cryptocurrency tax reporting.   The industry argues the current measure included in the bill is too broad — and would force miners, developers and other “non-financial intermediaries” to face the new reporting requirements, though they… Source link

The latest congressional infrastructure bill, which includes provisions on the regulation of crypto assets, could help legitimize cryptocurrencies within the mainstream financial community, says MoffettNathanson Partner Lisa Ellis. “What’s been holding up the crypto ETFs is that the SEC has very stringent requirements for things like liquidity, transparency, price stability,” Ellis said. “[There are] very well-established rules when it comes to stock investing,” she said. “Those same… Source link

Capitol Hill negotiators released their 2,702 page bipartisan infrastructure bill on Sunday night after a flurry of revisions over the weekend. One of the more significant last-minute edits concerns cryptocurrencies. The late addition aims to use the infrastructure bill to bring clarity to the way Americans report their digital assets – like bitcoin (BTC) or ethereum (ETH) – for tax purposes.  The measure could bring in billions in revenue, but “this is not a new tax on… Source link

The first half of 2021 brought a crypto boom and bust as bitcoin hit a new all-time high in April and then completely erased all its annual gains (and then some) by July.  Now, as bitcoin (BTC-USD) finds its footing, bulls are reloading for what they say will bring an exciting conclusion in the back half of the year.  Whether or not the world of crypto delivers on the high hopes investors have for what’s left of 2021, Yahoo Finance can at least guarantee that the action is likely to involve… Source link

Bitcoin, BTC to USD, fell by 1.79% on Saturday. Partially reversing a 5.43% rally from Friday, Bitcoin ended the day at $41,439.0. A mixed start to the day saw Bitcoin rise to an early morning intraday high $42,398.0 before hitting reverse. Falling well short of the first major resistance level at $43,562, Bitcoin fell to a late afternoon intraday low $41,051.0. While steering clear of the first majors support level at $39,605, Bitcoin fell through the 38.2% FIB of $41,592. Steering clear of… Source link

Western regulators and the crypto industry have had a sometimes-adversarial relationship, with Senator Elizabeth Warren this week calling on Treasury Secretary Janet Yellen to impose new rules for the sector.  That perspective could risk the U.S. and other nations falling behind China, which has taken a more “holistic” approach, says Mohamed El-Erian, president of Queens’ College at Cambridge University and Allianz Chief Economic Adviser. “China is not waiting,” El-Erian told Yahoo Finance… Source link

One early bitcoin (BTC-USD) investor has crunched the numbers on the crypto, and thinks it’s looking mighty undervalued at the moment.  “We did a study showing the number of people using bitcoin over the years and price of bitcoin. Both of those data series went up by an order of magnitude every two years. If that kept going, that would put bitcoin at $700,000 when everybody with a smartphone uses it. Ten years time is a reasonable forecast,” Pantera Capital founder Dan Morehead said on Source link

(Bloomberg) — A continuing recovery in Bitcoin has put the largest cryptocurrency on course for its longest winning streak this year. The virtual coin rose as much as 6.1% to top $40,000 and was trading at about $39,700 as of 8:15 a.m. in London on Wednesday. It’s advanced for eight straight days. Other coins including second-ranked Ether climbed, boosting the Bloomberg Galaxy Crypto Index. “The current momentum is strong” and $45,000 is in sight but a conclusive break above $50,000… Source link