The nation’s president Nayib Bukele passed a bill in June that stated that from September 7, Bitcoin can be used in any transaction and all businesses must accept the e-currency as payment.
The majority of the crypto currency market saw prices crash once more on the morning of 22 June following China’s clampdown on digital currencies.
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EmmerdaleITV Emmerdale fans in disbelief over character's unrecognisable makeoverMoira Dingle was commented on during the second episode of the week on Tuesday November 9.
Polkadot (DOT) turned down from $53.87 on Nov. 8, indicating that bears are selling at higher levels. The price has dipped back to $49.78, which is likely to act as a strong support.
Recent proposed legislation could make it easier for the IRS to find cases of tax evasion when it comes to crypto, though investors should already keep records of any capital gains or losses on their crypto assets. But the new rules may also make it easier for investors to properly report crypto transactions.
If an investor believes in the technology-backed digital currency, then cryptocurrency should be his cup of tea. Just a decade-old asset class, it has yielded astronomical returns over the years. Some investors look to use these digitally coded tokens to hedge against inflation. Despite high volatility and speculations, there are multiple reasons that they can become mainstream in the coming future.
Additionally, crypto regulation outside the U.S. has changed over time, based on evolving regulatory guidelines. The fifth Anti-Money Laundering Directive from the European Union, for example, entails that crypto buying, selling and other operations must comply with certain guidelines in certain regions.
According to an article in yesterday’s New York Times (NYT), Brian Brooks departed the CEO position at Binance.US when a $100 million venture capital funding fell through. He’d been in the position for just over three months.
(Bloomberg) -- Crypto exchange Binance.US, whose chief executive officer recently resigned, just appointed a new president.
Since crypto is a relatively new industry compared with others, legal clarity does not yet exist in terms of requirements for all areas of the space. Part of such clarity includes asset classification. Bitcoin and Ether are viewed as commodities, although categorization for numerous other assets remains unclear.
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Cryptocurrency(c) 2021 BloombergNick Baker, BloombergUpdated: October 22, 2021 9:31 am IST
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(Views and recommendations given in this section are the analysts' own and do not represent those of ETMarkets.com. Please consult your financial adviser before taking any position in the asset/s mentioned.)
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