Bitcoin avoids European ban as lawmakers decline to outlaw ‘proof of work’
Top blockchain and crypto news: PoW spared as Europe revamps MiCA rules. Yuga Labs acquires CryptoPunks rights. China’s Mango TV makes NFT debut.
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India PM Twitter account hacked, fake tweet claims Bitcoin is legal tender
India prime minister Narendra Modi’s Twitter account was hacked on Sunday morning, with the attacker posting a false tweet about India officially adopting Bitcoin as legal tender. Fast facts The tweet also said the government has bought 500 Bitcoin which will be distributed among citizens. This was the second instance of Modi’s Twitter account getting…
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New York Fed and BIS join hands to launch fintech hub
The Federal Reserve Bank of New York has joined hands with the Bank for International Settlements (BIS) to launch an innovation hub in New York— dubbed the New York Innovation Center (NYIC) — to explore and build financial technology products for the central bank community. Fast facts The NYIC will focus on five areas —…
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What would Jerome Powell’s second term mean for crypto?
Top blockchain and crypto news: Fed nominations suggest no sudden moves. El Salvador’s Bitcoin lava affair. Dodgy dealings in China’s digital yuan.
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How to survive an IRS crypto tax audit
The US Internal Revenue Service is taking a hard look at cryptocurrency transactions to crack down on tax dodgers. How can crypto holders protect themselves?
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IRS seized $3.5B in crypto in 2021, expects that number to grow in 2022
The U.S. Internal Revenue Service — the department responsible for collecting tax revenue — seized US$3.5 billion worth of cryptocurrencies during fiscal year 2021, accounting for 93% all assets seized by tax enforcement that year, according to the agency’s 2021 Criminal Investigation Report released Thursday. Fast facts An agency official said on a call with…
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Ethereum drives crypto comeback as US tax fears leave market unfazed
Top blockchain and crypto news: Ethereum rises and rivals follow. Taxing times for US investors. New life for reborn crypto miner.
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U.S. crypto enforcement team to target cybercrime
Making the most of cybersecurity awareness month, which marks its 18th year this October, the U.S. Department of Justice has announced it is launching a national cryptocurrency enforcement team targeting cybercrime. Fast facts During a virtual speech at the Aspen Cyber Summit on Wednesday, Deputy Attorney General Lisa Monaco said: “Cryptocurrency exchanges want to be…