Cryptocurrency

In an Oct. 10 letter to Treasury Secretary Janet Yellen and IRS Commissioner Daniel Werfel, a group of U.S. senators including Elizabeth Warren and Bernie Sanders criticized a two-year delay in implementing crypto tax reporting requirements, which are scheduled to go into effect in 2026 for transactions in 2025. The lawmakers claimed delaying implementation of the rules could cause the IRS to lose roughly $50 billion in annual tax revenue, and continue policies allowing bad actors to avoid paying taxes.Continue Reading on Coin Telegraph More

The FAB pilot wound up weeks after a similar test in Bahrain, where Bank ABC had been testing the Onyx system and proceeded to a limited launch of services. FAB said it was continuing to explore the opportunities the system offers.Continue Reading on Coin Telegraph More

The two main reasons he cites are the potential for an escalation of the conflict between Israel and Hamas, and subpar fiscal conditions in the United States. While an inverted yield curve wasn’t included in Tudor’s comments, it’s yet another important factor for investors to consider.Continue Reading on Coin Telegraph More

In her second day of testimony at the Sam Bankman-Fried trial on Oct. 11, Caroline Ellison provided more information regarding the months leading up to the anticipated FTX debacle in November 2022. Lenders required Alameda Research to repay millions in loans in mid-June following the market downturn in May, according to Ellison. “I was very stressed out,” she said.Continue Reading on Coin Telegraph More

In September, LINK’s price surged by an impressive 35.5%, but in the month-to-date performance for October, LINK has faced a 10% correction. Investors are concerned that breaking the $7.20 support level may lead to further downward pressure, potentially erasing all the gains from the previous month.Continue Reading on Coin Telegraph More

On Tuesday, Ripple Labs moved 30.7 million XRP ($15.3 million) to Bitstamp. This transfer followed a similar one made just a day earlier on Monday, when the company sent 30.3 million XRP to the same exchange.These transactions have raised speculation about Ripple’s intentions amidst the dropping prices of XRP. One possible explanation could be that Ripple is considering selling its holdings at a loss due to the falling market.However, another potential reason for these transfers could be related to “Ripple Payments”, formerly known as the On-Demand Liquidity (ODL) service. This service uses XRP for fund transfers and could be the destination for these large transactions.It’s important to note that while these transfers are substantial, they do not definitively indicate Ripple’s future actions or motivations. As of now, Ripple Labs has not made any official comment regarding these transactions or their intended use of the transferred funds.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More

Hata will become the fifth regulated digital asset exchange in Malaysia and the first legal entity to receiveapproval as a digital broker, allowing it to display trade orders from other regulated exchanges. Hata also received a money broker license from the Labuan Financial Services Authority in June, allowing it to exchange USD. The Labuan International Business and Financial Centre is a special economic zone.Continue Reading on Coin Telegraph More

In einer Mitteilung vom 10. Oktober erklärte die FCA, dass Rebuildingsociety nicht befugt sei, “den Inhalt einer Finanzwerbung für ein qualifiziertes Kryptoasset für die Kommunikation durch eine unbefugte Person zu genehmigen” und dass sie alle bestehenden Genehmigungen zurückziehen müsse. Die Mitteilung deutet darauf hin, dass Binance nach den Marketinganforderungen der FCA, die am 8. Oktober in Kraft getreten sind, möglicherweise keinen britischen Partner mehr hat.Die Aufsichtsbehörde warnte Rebuildingsociety, alle Kunden, vermutlich auch Binance, darüber zu informieren, dass es “nicht erlaubt ist, den Inhalt einer Finanzwerbung für ein qualifiziertes Kryptoasset zu genehmigen”, alle Werbeanzeigen zurückzuziehen, in denen angeboten wird, Finanzwerbung zu genehmigen, und der FCA die Einhaltung der Vorschriften schriftlich zu bestätigen. Binance wollte über Rebuildingsociety seinen Nutzern in Großbritannien die Möglichkeit geben, die Produkte und Dienstleistungen der Börse über eine lokalisierte Domain einzusehen, da die Börse nicht bei der FCA registriert ist.Lesen Sie weiter auf Cointelegraph More