Digital Financial News

NFT holders are on edge following an announcement by the IRS that they're reaching final rules surrounding the taxation of NFT assets.

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Texas Senator Ted Cruz introduced legislation to block the Fed’s attempt to develop a Central Bank Digital Currency [CBDC]. The Republican senator argued that a retail CBDC could be used as a financial surveillance tool by the government. He has previously introduced this bill in 2022 as well.

Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com.

Eurex is the latest exchange to offer bitcoin index futures as a crisis of confidence in the banking sector sparks renewed interest in digital assets.

The United States Internal Revenue Service (IRS) has announced plans to release guidance on the taxation of Non-Fungible Tokens [NFTs] as collectibles under the U.S. tax code. In a notice released on 21 March, the IRS, along with the United States Treasury Department, called for feedback from the U.S. public on how NFTs should be taxed as collectibles.

LONDON — The CEO of cryptocurrency exchange Luno is stepping aside and handing the reins to its head of operations, the company announced Wednesday.

The recent surge in Bitcoin and Ethereum prices has caught the attention of many investors and traders, with both cryptocurrencies experiencing significant gains in value over the past few months. 

Trading volumes on centralized crypto exchanges (CEX) have seen a significant surge over the past few weeks. Trade volumes of the top 18 exchanges have reached a four-month high of $51 billion, the highest level since the collapse of the Bahamas based crypto exchange FTX. 

CNBC and independent research firm Statista are working together to identify the world's top fintech companies, to be named in a published CNBC report in August.

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According to a new report by CoinShares digital asset investment products recorded six consecutive weeks of outflows totaling $95 million. Over the last five weeks, there has been $406 million in outflows from investment products, with a notable portion of those outflows being related to Bitcoin [BTC].

Charles Hoskinson refuted the idea that cryptocurrency caused the banking crisis, calling digital assets the “escape valve.”

Central bank digital currencies (CBDCs) will not be coming to Florida any time soon, if Governor Ron DeSantis gets his way.

Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com.

Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com.

While the money in SVB and the dollar peg were recovered, USDC's market cap took a hit and Circle is now reiterating its call for regulation that would make it a full reserve federally supervised institution.At a conference held at Warwick Business School, Circle’s Tarleton Watkins said that one long term option for retail stablecoins could involve a wholesale CBDC at the Fed as a backing instrument, but in the meantime holding dollar reserves with the Fed rather than various financial partners would be a logical step in light of SVB’s failure.Watkins told his audience: "In some ways, the events surrounding SVB act as a vindication of what we have been advocating for and that is a full Fed reserve model, where we could have access to risk-free cash."Although it is rare to have cascading bank failures, like in the financial crisis of 2008, this event with SVB put Circle through a very serious stress test, and we have come through it."Meanwhile, Circle has filed applications in France to become both a licensed Electronic Money Institution and a registered Digital Asset Service Provider. The move comes as Circle looks to expand its operations in Europe and push its EUROC stablecoin.Autorité des Marchés Financiers (AMF).

The Dogecoin price has dropped by 2.5% in the past 24 hours, falling to $0.072580 as the wider cryptocurrency market suffers a 1% decline.

Sydney-based Stables was founded in 2021 by Erez Rachamim, Bernardo Bilotta and Daniel Li who previously worked at Equitise, Zip and Readiitel. The company currently employs 15 staff.On the tie-up with Mastercard, Rachamim says: “Customers spend as they usually would using stablecoins, with transactions then settled by Stables’ payment gateway enabling real-time transactions using USDC.

Florida Governor Ron DeSantis, a potential presidential candidate in 2024, has called for a state-wide ban on central bank digital currency (CBDC). He opined that the Biden administration’s CBDC push is about surveillance and control.

Despite the inherent volatility of the cryptocurrency market, Bitcoin (BTC), the renowned digital currency, has managed to maintain its upward trajectory and continues to trade at above $28k. This is a notable accomplishment for Bitcoin, which has faced significant challenges in recent months due to an extended bearish trend.