The European Union's new crypto tax reporting directive, effective January, enhances tax data sharing and imposes a compliance deadline of July 1 for exchanges throughout the bloc. This initiative operates alongside the Markets in Crypto-Assets (MiCA) regulation and includes the potential for asset seizure for non-compliance.
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Coinbase CEO Brian Armstrong stated that major banks now perceive cryptocurrency as an "existential" threat to their traditional business models. He emphasized that the rise of digital currencies could disrupt the financial services industry, prompting banks to adapt or risk obsolescence. Armstrong noted that this shift in perspective
BitGo's stock fell below its initial public offering (IPO) price on its second day of trading, reflecting a decline of approximately 10%. The company went public via a merger with a special purpose acquisition company (SPAC), which valued it at around $1.2 billion. Analysts attribute the drop
Bitcoin is struggling to fulfill its role as a 'safe haven' asset compared to gold, primarily due to its high volatility and correlation with stock market movements. Recent market trends show that during economic uncertainty, investors are still favoring gold over Bitcoin for stability. Additionally, Bitcoin's
The article explores the potential for stablecoins to operate independently of the US dollar, examining various factors that could influence this shift. It highlights the growing interest in decentralized finance (DeFi) and the development of alternative stablecoins pegged to other assets or currencies. Regulatory challenges and market volatility are discussed