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White House backs senators pushing for stricter crypto reporting rules Via CNBC.com: The White House weighed in – somewhat out of the blue – on a contentious battle over competing crypto amendments to the $1 trillion infrastructure bill. It’s chosen to back the side that isn’t as friendly to the world of bitcoin and ethereum. The fight is over a provision in the bipartisan bill, which raises money through stricter […]

Ether falls 1% ahead of major upgrade to ethereum network Via Reuters.com: Ether fell about 1% on Wednesday ahead of a technical adjustment to its underlying ethereum blockchain that would alter the way transactions are processed. The revamp is currently anticipated to go live on Thursday in most time zones, according to market players, a little later than previously expected. Technically, the upgrade will occur when the 12,965,000th block on […]

How language in the infrastructure bill could roil the crypto markets Via CNBC.com: The cryptocurrency industry is lobbying hard this week against language in the Senate’s bipartisan infrastructure bill proposal that could choke a vast amount of the crypto ecosystem. Language in the bill would require crypto brokers to report customer information to the Internal Revenue Service. More importantly, over the weekend it broadened the definition of what’s considered a […]

Bitcoin tops $39,000 for the first time in nearly 6 weeks, adding $114 billion to the crypto market Via CNBC.com: Bitcoin surged Sunday evening topping $39,000 for the first time since mid-June as sentiment turned bullish following a recent sell-off. The cryptocurrency was trading at around $38,059.84 at 11:05 p.m. ET, according to CoinDesk data, up nearly 11% from the same time 24-hours prior. Bitcoin had previously hit a 24-hour […]

Nearly $100 billion wiped off crypto market as bitcoin drops below $30,000 Via CNBC.com: Bitcoin fell below $30,000 for the first time since Jun. 22 dragging other digital coins lower. About $98 billion was wiped off the entire cryptocurrency market in 24 hours as of 12:29 a.m. ET on Tuesday, according to CoinMarketCap data. Bitcoin was down more than 6% while ether fell nearly 9% and XRP tanked almost 10%, […]

Cryptocurrency trading volume plunges as interest wanes following bitcoin price drop Via CNBC.com: Cryptocurrencies are in a summer slump as they navigate a two-month correction period following a string of negative stories. Trading volumes at the largest exchanges, including Coinbase, Kraken, Binance and Bitstamp, fell more than 40% in June, according to data from crypto market data provider CryptoCompare, which cited lower prices and lower volatility as the reason for […]

China’s war on bitcoin just hit a new level with its latest crypto crackdown Via CNBC.com: China’s central bank said Tuesday it had called for the shutdown of a company that “was suspected of providing software services for virtual currency transactions.” The statement, issued by the Beijing office of the People’s Bank of China, also warned institutions not to provide other services related to virtual currency, including providing business premises […]

Binance, the world’s largest cryptocurrency exchange, gets banned by UK regulator Via CNBC.com: Cryptocurrency exchange Binance has been banned from operating in the U.K. by the country’s markets regulator, in the latest sign of a growing crackdown on the crypto market around the world. Britain’s Financial Conduct Authority said Saturday that Binance Markets Limited, the U.K. division of Binance, “is not permitted to undertake any regulated activity in the U.K.” […]