Tag: us

Nov 26 2022

Energy is the master resource but it could be Bitcoin that reigns supreme

Nov 26 2022 Published at CryptoSlate under tags  analysis energy eu inflation macro

Nothing shines a light on the importance of energy as much as a fast- approaching winter. When the temperature drops, the scarcity of energy becomes obvious and global efforts to preserve it begin. This year, the fight for energy is more aggressive than it's ever been. The fiscal and monetary policies set in place during the COVID-19 pandemic caused dangerous inflation in almost every...

Nov 23 2022

US Congressman defends decentralization, blames SBF, Gensler, CeFi for FTX collapse

U.S. Congressman Tom Emmer said FTX's collapse was not a crypto failure; instead, it was a failure of centralized finance (CeFi), Sam Bankman-Fried, and SEC's Chairman Gary Gensler in a Nov. 22 Fox Business interview. FTX's collapse is not a crypto failure. It's a failure with CeFi,...

Nov 11 2022

Crypto Exchange FTX Files For Bankruptcy, CEO Resigns

FTX Group, which includes FTX U.S., filed for Chapter 11 bankruptcy following an intense liquidity crisis; CEO Sam Bankman-Fried stepped down.FTX has filed for Chapter 11 bankruptcy.The move includes FTX US, the group's American subsidiary, which up to yesterday was believed to be solvent and able to keep running despite the international arm's issues.The company's official Twitter account...

Oct 26 2022

US and EU lead Bitcoin’s price action

Oct 26 2022 Published at CryptoSlate under tags  bitcoin eu price watch us

After weeks of flatlining, Bitcoin has finally seen some positive price action, breaking through the $20,000 resistance. At press time, BTC stood at $20,745 and showed the potential to inch even closer to $21,000....

Oct 19 2022

US tax watchdog classifies NFT as digital assets for tax purposes

Oct 19 2022 Published at CryptoSlate under tags  irs nft nfts taxes united states

The U.S. Internal Revenue Service (IRS) could begin to tax non-fungible tokens (NFTs) as it has classified them as digital assets alongside virtual currencies in its updated draft instructions for the 2022 tax year. According to the IRS, digital assets are "digital representations of value that are recorded on a cryptographically secured distributed ledger or any similar technology. For...

Oct 18 2022

Fed Vice Chair warns banks about crypto liquidity, urges stablecoin regulation

Oct 18 2022 Published at CryptoSlate under tags  banking cbdc crypto regulations regulation us

Federal Reserve Bank Vice Chair Michael Barr said that banks accepting crypto deposits should be aware of their increased liquidity risks in an Oct. 12 speech published on Oct. 17. Barr stated that there are heightened liquidity risks when traditional banks do business with crypto firms, as such banks could be exposed to liability from money laundering and fraud. According to him, the...

Oct 15 2022

Celsius receives summons from US grand jury

Oct 15 2022 Published at Coinscreed under tags  bankruptcy celsius network #jury news us

Federal regulators and US prosecutors are requesting data from the insolvent cryptocurrency lender Celsius Network. The inquiries, which were made public in court documents this month, give an idea of the difficulties Celsius is having with the law as it tries to restructure. To prevent a user panic run, the company froze customer withdrawals in […] The post...

Sep 28 2022

The Bitcoin Policy Institute Explains Why CBDCs And The US Are Not A Match

The latest report by The Bitcoin Policy Institute goes for the lowest hanging fruit. It tries to convince US politicians that “CBDCs will erode the distinction between America and authoritarianism,” which is true. To accomplish that, The Bitcoin Policy Institute appeals to the cheapest trick in the book: comparing the US to China. The move is so...

Sep 21 2022

U.S. House Bill aims to ban UST-Like Stablecoins for two years

Sep 21 2022 Published at Coinscreed under tags  bill news stablecoins terra us

Although its full impact and consequences are yet to be determined; a recent draft of a U.S. House bill proposes a two-year ban on stablecoins like Terra's UST stablecoin. The Federal Reserve, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corp., and the SEC are just a few of the federal […] The post...

Sep 16 2022

Reuters reports major US banks pausing crypto lending plans amid challenging SEC guidelines

Sep 16 2022 Published at CryptoSlate under tags  banking banks crypto legal regulation

The US Securities and Exchange Commission (SEC) guidance on crypto custody might impede banks from the industry because of the cost of implementation, Reuters reported on Sept. 16. According to the report, the SEC accounting...

Sep 13 2022

Bitcoin Drops Below $22,000 As U.S. CPI Declines Less Than Expected To 8.3%

Bitcoin failed to hold $22,000 as declines in energy prices drove down U.S. CPI less than expected to 8.3% in August; all other sectors rose MoM.Inflation fell to 8.3%, marking the second consecutive month of falling CPI reports. Every sector witnessed increased MoM inflation, except the energy sector which tilted the report.Bitcoin plunged below the $22,000 support level following the...

Aug 25 2022

Advocate of bitcoin proposes BTC as fix to US student loan crisis

Aug 25 2022 Published at Coinscreed under tags  btc news student loans us

According to Dennis Porter, the government should give debtors $10,000 worth of Bitcoin and lock it away for ten years. Following the announcement by US President Joe Biden of a plan to forgive millions of Americans' college debts of up to $20,000, a proponent of Bitcoin (BTC) suggested an alternate way to settle the debt. […] The post...

Jul 29 2022

Bitcoin ASIC Maker Canaan To Launch U.S. Mining Operations

A Canaan executive detailed the success of its pilot mining operations in Kazakhstan and shared plans to expand its operations to the U.S. in an interview.ASIC manufacturer Canaan is set to launch bitcoin mining operations in the U.S. The company recently started self-mining in Kazakhstan where it has deployed over 10,000 miners.Ending Q1 2022, the company earned $213 million in...

Jul 21 2022

US lawmakers propose bank-like regulation for stablecoin issuers

Jul 21 2022 Published at CryptoSlate under tags  regulation stablecoins us

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...

Jul 15 2022

Bitcoin Purchasing App Now Functional On 175,000 ATMs Across United States

Jul 15 2022 Published at Bitcoinist.com under tags  bitcoin btc atms canada us

Recent news cited that about 175,000 Hyosung's ATMs will incorporate the Bitcoin purchasing app in their operations. The idea is to facilitate Bitcoin transactions among ATM operators and retailers using Hyosung's machines. The US crypto retailers and ATM operators now have the leverage to purchase BTC through Hyosung's ATMs. The event occurred after...

Jul 08 2022

Why The U.S. Treasury Published A Framework For International Crypto Regulation

Jul 08 2022 Published at Bitcoinist.com under tags  bitcoin btc btcusd crypto crypto news

Per a press release from the U.S. Treasury, crypto and digital assets should have equal international regulations. The government agency published a “Framework for International Engagement on Digital Assets” following an executive order (EO) from U.S. President Joe Biden. Related Reading |...

Jun 09 2022

CFTC may become main regulator for crypto industry

Jun 09 2022 Published at CryptoSlate under tags  bitcoin cftc crypto regulation defi legal

The Commodity Futures Trading Commission (CFTC) is garnering support to be the primary regulator for the crypto industry amongst stakeholders in the crypto industry and US lawmakers, Commissioner Summer Mersinger said during the...

Recent Deloitte Survey Shows The Majority Of American Merchants Prioritize Crypto As Payment Method

Deloitte in collaboration with PayPal has carried out a survey called "Merchant Attitude to Digital Currency" involving 2000 senior executives at retail organizations...

Jun 08 2022

US DOJ wants more international collaboration to fight crypto crime

Jun 08 2022 Published at CryptoSlate under tags  crime crypto crypto regulation doj legal

The US Department of Justice (DOJ) has called for more international collaboration and sharing of information about crypto crimes to protect investors, businesses, and consumers using digital assets in its latest report...

Jun 07 2022

New US bill looks to incorporate crypto into the traditional financial system

Senators Cynthia Lummis and Kirsten Gillibrand are ready to present a draft bill on crypto regulations to the U.S. senate. According to a report from Politico, this is a...

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