cryptocurrency
Cryptocurrency
Bitcoin BTCUSD and Ether ETHUSD accounted for a combined $108.9 million worth of liquidations, while Dogecoin DOGEUSD, XRP XRPUSD, and Stellar XLMUSD rounded out the top five with $33.1 https://stipsoculus.com million, $27.6 million, and $21.6 million liquidated.
Our Crypto news provides comprehensive updates on various aspects of the cryptocurrency and blockchain ecosystem. It includes real-time price movements and market analysis for major cryptocurrencies like Bitcoin and Ethereum, detailing their performance trends and trading volumes. Regulatory developments are also highlighted, covering new laws, enforcement actions, and legal issues impacting the industry, both domestically and internationally. Additionally, news often focuses on technological advancements, such as upgrades to blockchain networks, new cryptocurrency launches, and innovations in decentralized finance (DeFi) and non-fungible tokens (NFTs). This coverage helps investors and enthusiasts stay informed about the dynamic and rapidly evolving world of digital assets.
Mainnets like Ethereum’s aren’t suitable for major (AAA) game development. The only real solution is a horizontally scalable blockchain coupled with modularity and a gas-free experience for end-users, says Jack O’Holleran, CEO of SKALE Labs.
Cryptocurrency regulation sec
See, e.g., Ari Levy & MacKenzie Sigalos, Crypto peaked a year ago — investors have lost more than $2 trillion since, CNBC (Nov. 11, 2022), www.cnbc.com/2022/11/11/crypto-peaked-in-nov-2021-investors-lost-more-than-2-trillion-since.html; Crypto’s string of bankruptcies, Reuters (Jan. 20, 2023), www.reuters.com/business/finance/cryptos-string-bankruptcies-2023-01-20/.
With MiCA as a comparative backdrop, the UK government’s legislative plans for the regulation of digital assets continues to expand. At the beginning of 2023, the government announced a consultation period to ‘set out ambitious plans to robustly regulate cryptoasset activities’. The consultation ran from 1 February 2023 to 30 April 2023, and the government’s response and proposals for the future financial service regulator regime for cryptoassets was published in October 2023, confirming its intention for a phased introduction of crypto activities into the current regulatory framework, as much as possible (the HM Treasury (HMT) Proposals).
The ruling in SEC v Coinbase underscores the evolving legal landscape for cryptocurrency regulation. The court’s decision suggests that many crypto-asset transactions may fall within established securities frameworks, requiring compliance with SEC regulations. This has significant implications for Coinbase and other companies operating in the crypto space, as they may need to consider registration and other regulatory requirements.
The core issue here is regulatory oversight. According to an explainer from Coindesk, US law defines ‘securities’, i.e financial instruments like stocks and bonds, as ‘investment contracts’, meaning that a person who invests money in a security “is led to expect profits solely from the efforts of the promoter or a third party.” If cryptocurrencies are considered to be securities, they would be subject to the SEC’s stringent compliance regime. The SEC has argued that the cryptocurrencies should be considered as securities, while the CFTC insists on classifying them as commodities as interchangeable, i.e, a bitcoin is interchangeable with another bitcoin.
See Ernst & Ernst v. Hochfelder, 425 U.S. 185, 194–95 (1976) (explaining that the Securities Act of 1933 was passed in the aftermath of the market crash of 1929 and “was designed to provide investors with full disclosure of material information concerning public offerings of securities in commerce, to protect investors against fraud and, through the imposition of specified civil liabilities, to promote ethical standards of honesty and fair dealing.”).
Cryptocurrency capital gains tax
If you owe tax on your crypto profits, you should get the tax return deadline into your diary. You have to file and pay your tax bill on 31st January, the tax year after you started earning from crypto activity. Never filed a tax return before?
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For example, if you bought 1 BTC at $6,000 and sold it at $8,000 three months later, you’d owe taxes on the $2,000 gain at the short-term capital gains tax rate. Profits on the sale of assets held for less than one year are taxable at your usual tax rate. For the 2024 tax year, that’s between 0% and 37%, depending on your income.
Your cryptocurrencies are part of your “other assets” and contribute to your wealth. The fictitious return on your wealth above € 57,000 will be subject to a wealth tax of 31%. Depending on your activity you may also have to pay income tax over your cryptocurrency income.