Under India’s G20 presidency, active discussions around establishing a global framework for cryptocurrencies are underway, India’s minister of finance Nirmala Sitharaman has said. On Aug. 28, Indian Prime Minister Narendra Modi pushed for global collaboration on formulating crypto regulations among G20 (Group of 20) member states, which include 19 countries and the European Union. Modi…
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United States-based crypto mining operator Marathon Digital Holdings produced 1,072 Bitcoin in August — 9% less than in July but five times more than in August 2022. On Sept. 5, Marathon shared the unaudited BTC production and miner installation updates for August. According to the press release, last month the company increased its U.S. operational…
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Currently, no accounting standards are dedicated to crypto assets, so broader guidelines per the International Financial Reporting Standards (IFRS) and Generally Accepted Accounting Practice (GAAP) are applied to cryptocurrency accounting. Balance sheets are among the three primary financial statements that businesses need, alongside income and cash flow statements. Whereas income and cash flow statements show…
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Grayscale has told the Securities and Exchange Commission it has no legal reasoning left to block the conversion of the asset manager’s flagship Bitcoin (BTC) fund to a spot exchange-traded fund (ETF). On Sept. 5, Grayscale’s lawyers sent a letter to the SEC requesting the pair meet to discuss the next steps following the regulator’s…
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José Luis Garcia is a coffee-lover and entrepreneur trying to make his mark in the city of Medellín — the birthplace of Colombia’s modern coffee industry. Since the October launch of his start-up Lightning Koffee, Garcia has two goals in mind: Make a decent cup of joe and spread the word about Bitcoin (BTC). His coffee…
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The potential of a spot Bitcoin (BTC) exchange-traded fund (ETF) approval to drive prices up is dramatically underestimated by the crypto market, claim analysts from crypto research firm K33 — formerly Arcane Research. In a Sept. 5 market report, K33 senior analyst Vetle Lunde and vice president Anders Helseth said the last three months had…
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A report released by London-based investment migration consultancy firm Henley & Partners suggests there were more than 40,000 crypto millionaires in the world holding Bitcoin (BTC). According to the ‘Crypto Wealth Report’ published on Sept. 5, Henley & Partners said there were roughly 88,200 millionaires worldwide with crypto holdings, with 40,500 holding BTC. The report…
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Bitcoin (BTC) tried to break out of its range last week, but the bulls could not sustain the higher levels. Bitcoin is back inside the range and is trading near the $26,000 level. The price action of the past few days has formed two successive Doji candlestick patterns on the weekly chart, indicating uncertainty about…
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A plurality of experts believe the United States should create a new federal agency dedicated to artificial intelligence governance, according to a survey conducted by Axios, Generation Lab, and Syracuse University. The survey polled 215 computer science professors across 65 of the most prestigious universities in the U.S. on topics related to AI. we polled…
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Bitcoin (BTC) could have dropped much more last week after one on-chain metric repeated its move from the FTX crash. As noted on Sep. 5 by James Straten, research and data analyst at crypto insights firm CryptoSlate, the SLRV Ratio has “flipped” for the first time since November 2022. Bitcoin SLRV Ratio channels FTX warning…
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