The US Treasury Department has requested that any cryptocurrency transfer worth $10,000 or more will be reported to the IRS to eliminate tax evasion risk. The new standards on tax reporting will come into effect from 2023 in order to avoid compliance problems for financial institutions.
Ripple and the SEC Will Meet on a Phone Conference
In the phone conference, which will be held today at 2:00 PM US time, the disputes between Ripple and the SEC over bilateral documents will be discussed.
FED Works on CBDC
FED has announced that it will release a research paper on central bank digital currency this summer.
New SEC Chairman Comments on Cryptocurrencies
New SEC Chairman Gary Gensler has emphasized that “We need to do whatever we can to ensure that bad actors aren’t playing with working families’ savings. Gensler has also stated that the decisions to be taken are still under discussion.
Letter to OCC from Sherrod Brown
US Senate Committee on Banking Chairman Sherrod Brown has sent a letter to the Office of the Comptroller of the Currency (OCC). In his letter, Brown has warned against granting federal charters to companies trying to expand access to “risky and unproven” digital assets and technologies and asked Comptroller Michael Hsu to reconsider recent decisions to let three crypto firms become national trust banks.
The Central Bank of Netherlands Comments on Cryptocurrency Exchanges
The Central Bank of Netherlands announced in a statement that cryptocurrency exchanges no longer have to verify users' wallet addresses. It was stated that they will remove the wallet verification measures as soon as possible and all other issues that facilitate transactions will be investigated.
4Chan Insider Claims BTC Drop Was a Coordinated Attack
In an article written in 4Chan on May 18, prior to the market drop on May 19, it was stated that the decrease in the BTC price was planned and it was aimed to liquidate all the assets of an unnamed stakeholder. Afterwards, with the news of China, which we have heard many times before, a decline was created in the market, and then panic sales came.
Indian Government Will Review the Previous Crypto Bill
Indian government will set up a panel of experts to study the possibility of regulating cryptocurrencies. Earlier, the government has made statements regarding banning all kinds of decentralized cryptocurrencies in the country.
Notes on Bitcoin and Institutional Investors from JPMorgan
In a research note published by JPMorgan, referring to the high volatility experienced in Bitcoin and the prices that have declined to the level of $ 30,000, this situation may have led institutional investors to gold in search of trust.
Cryptocurrencies Has Become the Most Searched Words
According to Google Trends data, searches on topics related to cryptocurrencies reached the highest level worldwide on a weekly basis.
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