In a move that could redefine the contours of Syria’s economy, the Syrian Center for Economic Research (SCER) has unveiled a proposal that advocates for the legalization of Bitcoin and the digital transformation of the Syrian pound. This initiative is not merely a financial maneuver; it symbolizes a broader vision for a country grappling with
As the world of cryptocurrency continues to expand rapidly, regulatory bodies are tasked with creating frameworks that ensure compliance and transparency in this innovative sector. The Internal Revenue Service (IRS) of the United States recently introduced a temporary relief measure to alleviate potential tax burdens for cryptocurrency holders utilizing centralized finance (CeFi) brokers. This move
The IRS has recently introduced a temporary reprieve concerning the cost-basis reporting regulations for cryptocurrencies, a decision that has significant implications for investors in the digital asset space. This move underlines the agency’s recognition of the intricate challenges surrounding crypto taxation, especially in light of rapid market changes and the diversity of investor strategies. By
Bitcoin has once again captured the attention of the financial world, oscillating between $93,000 and $96,000 this week. Despite the apparent volatility and fluctuating market sentiment, at least one prominent figure is tentatively optimistic about Bitcoin’s future price trajectory. Ted Boydston, a respected commentator and engineer in the cryptocurrency sphere, is making waves with predictions
Cardano (ADA) has made headlines recently with a significant price increase of over 10.75% in just 24 hours, bringing its value to approximately $1.0481. Surpassing the psychological barrier of $1 is significant; it reflects a renewed investor confidence that has been dormant for months amidst fluctuating market conditions. What’s of interest is the concurrent rise
On December 31, Switzerland witnessed a noteworthy proposal when the Swiss Federal Chancellery registered an initiative for the Swiss National Bank (SNB) to hold Bitcoin as part of its monetary reserves. This ambitious endeavor is driven by a coalition of ten Bitcoin advocates, prominently featuring Giw Zanganeh, Tether’s vice president, and Yves Bennaïm, founder of
The ongoing legal saga between Celsius Network and the defunct crypto exchange FTX has taken another intriguing turn as Celsius filed a notice of appeal on December 31, 2023. This appeal contests U.S. Bankruptcy Judge John Dorsey’s recent ruling that rejected Celsius’ monumental $2 billion disparagement claim against FTX. This legal battle underscores the turbulence
Binance, recognized as the largest cryptocurrency exchange globally by trading volume, recently achieved a significant milestone in Brazil by securing regulatory approval from the Central Bank to acquire Sim;paul, a licensed broker-dealer. This development, announced on January 2, positions Binance as the first crypto exchange in the country to obtain such a license, enabling it
The cryptocurrency space is filled with stories of meteoric rises and drastic falls, and Shiba Inu (SHIB) is a notable example of oscillating fortunes. A critical component in the recent increase of its value, roughly 115% over the past year, can be attributed to its innovative token burn mechanism. This strategy was officially launched by
The advent of the Market in Crypto-Assets (MiCA) regulation marks a groundbreaking transition in the European Union’s approach to digital assets. Following years of deliberations and negotiations, the MiCA framework has evolved into a comprehensive set of regulations that addresses crucial gaps in oversight, significantly influencing how cryptocurrencies and digital tokens are managed within the