Bitcoin’s price surged to $31,000 as a handful of BTC spot ETF applications and Fed Chair Jerome Powell’s views on stablecoins appear to have improved crypto investors’ view of the market. Source link
The United States Federal Reserve Board sees payment stablecoins as a form of money, Chair Jerome Powell said during questioning at the House of Representatives Financial Services Committee’s semi-annual hearing on Fed policy on June 21. Powell’s comments came in response to committee ranking member Maxine Waters, who asked for his reaction to the proposed…
Read more
Democrats with the United States House Financial Services Committee have introduced several bills in what they described as the “first wave” of legislation aimed at addressing failures at major banks. In a June 21 announcement, committee ranking member Maxine Waters said House Democrats had backed 11 bills drafted in response to the collapse of Silicon…
Read more
Bitcoin (BTC) returned to $30,000 after the June 21 Wall Street open in a triumphant continuation of the week’s gains. BTC/USD 1-day chart. Source: TradingView Bitcoin price destroys traces of multi-week downturn Data from Cointelegraph Markets Pro and TradingView confirmed a new multi-month high of $30,340 on Bitstamp. BTC price action continued to heat up…
Read more
Crypto mining firm CleanSpark is moving forward with its aggressive infrastructure expansion in the United States by acquiring two Bitcoin (BTC) mining facilities in a $9.3 million cash deal. According to a June 21 announcement, the two facilities CleanSpark will purchase are turnkey Bitcoin mining campuses in Dalton, Georgia. With turnkey mining, users can buy an…
Read more
As cryptocurrencies and blockchain assets continue to grow in popularity and mainstream adoption, the United States Internal Revenue Service has taken an increasing interest in their taxation. In the U.S., cryptocurrency is subject to crypto tax and is classified as transactions instead of property or assets. Needless to say, failure to accurately track and report…
Read more
Major hardware cryptocurrency wallet provider Ledger is getting closer to launching its planned solution to allow users to back up and recover a Ledger device seed. Ledger chief technology officer Charles Guillemet took to Twitter on June 21 to announce that the hardware wallet company has open-sourced the Ledger Recover white paper. Today, we are…
Read more
The Monetary Authority of Singapore (MAS) released a proposal for a common protocol that would specify the conditions for the use of various types of digital currencies. On June 21 MAS published a whitepaper that covers technical specifications outlining the lifecycle of its new Purpose Bound Money (PBM) concept, along with the names of financial…
Read more
The world’s largest Bitcoin (BTC) conference, Bitcoin 2023, in Miami, Florida, passed without major fanfare this year. Past conferences announced nation-state adoption, massive crypto integrations in the United States, and islands and territories worldwide embracing Bitcoin. Nonetheless, at Bitcoin 2023, one partnership with a potentially significant impact on the world’s 15th-largest economy flew under the radar.…
Read more
Among the more memorable displays at Bitcoin 2023 is a real-life toilet with the logos of various non-Bitcoin cryptocurrencies. It’s an ad for a booth selling “buttwipes” that are “moistened with the tears of no-coiners.” The marketing message is clear: Bitcoin is the real thing — everything else is a shitcoin that belongs in the…
Read more