The US state of New York may tax the sales and transfers of crypto and non-fungible tokens (NFTs), under a bill submitted in the state’s Assembly. Assembly Bill 8966, introduced on Wednesday by Democratic Assemblymember Phil Steck, would add a 0.2% excise tax on “digital asset transactions, including the sale or transfer of digital assets.”…
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Cryptocurrency exchange Garantex Europe, which was sanctioned on Thursday, may already have a contingency plan allowing it to skirt the impact of the US actions, blockchain intelligence firm TRM Labs said. On Thursday, the US Treasury’s Office of Foreign Assets Control (OFAC) sanctioned Garantex a second time, along with its successor, Grinex. However, TRM Labs…
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David Bailey’s Bitcoin firm, Nakamoto, has completed its merger with healthcare company KindlyMD, forming a publicly-traded Bitcoin treasury vehicle with a plan to accumulate 1 million Bitcoin. The merged entity will retain the KindlyMD name and continue trading on the Nasdaq under the ticker NAKA, with Nakamoto operating as a wholly-owned subsidiary. Nakamoto is among…
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Bitcoin’s price chart is starting to mimic the same pattern it did when it reached the previous cycle’s all-time high of $69,000 in November 2021, according to a crypto trader. However, other traders argue that charts don’t tell the full story anymore with mounting demand for Bitcoin (BTC) from crypto treasury companies. Bitcoin charts look…
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A group of crypto and fintech executives has urged US President Donald Trump to block banks from charging fees for access to their customer data, arguing it stifles consumer choice. The letter sent to Trump on Wednesday accused large banks of looking to “preserve their market position by imposing exorbitant new ‘account access’ fees that…
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US Treasury Secretary Scott Bessent has clarified that his department is still exploring budget-neutral ways to buy Bitcoin for the Strategic Bitcoin Reserve — contrasting with his recent comments suggesting the plan was off the table, which triggered a Bitcoin sell-off. “Treasury is committed to exploring budget-neutral pathways to acquire more Bitcoin to expand the…
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American Bitcoin, a Bitcoin (BTC) mining company backed by members of US President Donald Trump’s family, exercised an option to purchase up to 17,280 application-specific integrated circuits (ASICs), hardware for crypto mining, from Bitmain earlier this month. The mining company purchased a fleet of 16,299 Antminer U3S21EXPH units from Bitmain, capable of 14.02 exahashes per…
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The US Federal Bureau of Investigation (FBI) has issued a public service announcement for victims of crypto scams looking for legal advice to recover their funds. In a Wednesday notice, the FBI said that fictitious law firms were targeting individuals who had previously been scammed out of some or all of their crypto holdings, putting…
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Key takeaways: BTC futures premium remains neutral, indicating traders were unfazed by the recent $6,630 price drop. The Bitcoin options skew and macroeconomic concerns suggest limited appetite for a breakout above $120,000. Bitcoin (BTC) faced a sharp rejection after reaching a $124,089 all-time high on Thursday. The drop below $117,500 triggered $227 million in leveraged…
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The US Treasury’s Office of Foreign Assets Control (OFAC) has redesignated cryptocurrency exchange Garantex Europe to its list of sanctioned entities. In a Thursday notice, OFAC said it had redesignated Garantex as well as sanctioned its “successor,” Grinex, three Garantex executives and six Russia- and Kyrgyz Republic-based companies for allegedly facilitating illicit transactions. According to…
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