Cryptocurrency Update: Week of August 31, 2021

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World Business Report – 04:30 AM GMT

TV eyes – BBC World , U.K. NATIONAL ; News , 759 words
… Polly network in what’s being described as one of the largest cryptocurrency heist in history, getting ready for take-off. Jetblue launches a new …… Let’s talk now what is being called one of the largest crypto-currency highest ever hackers have stolen some 600 million $ worth of …… blow really bring this issue to the fore now that these crypto-currencies are going to struggle to become mainstream. Well, it’s definitely a …… and that will continue to be a contentious point regulation the cryptocurrency space. It is something that’s been talked about for quite a ……

Cryptocurrency platform loses estimated $600 million in cyberheist

August 11, 2021
WebNews – English
* Token-swapping network said it suffered hack attack * Estimated $600mln in tokens affected * Poly asks hacker to return funds (Adds background, analyst quote and message from possible hacker) By Alun John, Tom Westbrook and Tom Wilson HONG KONG/SINGAPORE/LONDON, Aug 11 (Reuters) – A cryptocurrency platform has lost an estimated $600 million in digital tokens after..

EXPLAINER: How cryptocurrency fits into infrastructure bill

Newstex Blogs MarketBeat
A bill the Senate approved Tuesday is by imposing tax-reporting requirements for cryptocurrency brokers, the way stockbrokers report their customers’ sales to the IRS. It could open the way for tighter regulation of cryptocurrency — something the Biden administration is moving toward. Some cryptocurrency brokers already report transactions to the IRS, though most don’t, experts …… say. Brokers place buy and sell orders for users on the cryptocurrency exchanges. The exchanges are required to collect personal identifying information. The debate over cryptocurrency landed in the middle of the Senate’s work on the massive …… revenue raisers, the plan was hatched for stricter tax-reporting requirements for cryptocurrency brokers. The estimated $28 billion it would generate over a decade …

United States: Increased IRS Enforcement Of Tax Information Reporting And Withholding Appears To Be Coming: Are You Ready?

… currently includes a provision relating to the information reporting of certain cryptocurrency transactions. A fact sheet on the Infrastructure Bill published by the …… a heightened interest in “strengthening tax enforcement when it comes to crypto currencies .” Although many of the administration’s plans are currently just proposals, …

The Financial Express
… India. Glimmer of hope The Union Government shelved the much hyped Cryptocurrency Regulation Bill for discussion during the Monsoon Session of Parliament. In …… the Government reiterated its 2018-19 position that it “does not consider crypto-currencies legal tender or coin and will take all measures to eliminate …… community in India is bullish even as the Govt delays regulation Cryptocurrency future in India. .


News Bites US Markets , 9606 words
… price of bitcoin continues its rally as the demand for the cryptocurrency surges. According to CoinDesk, the world’s biggestcryptocurrency surged past $16,000 for the first time on Thursday, just a …… $19,340 during Thursday’s trading session. Coinbase is one of the major cryptocurrency exchanges. Recent developments in the cryptocurrency market help drive the bitcoin price higher. Investors expect that the …… February 27 2018: Cryptocurrency Market Capitalization Rebounds NEW YORK, February 27, 2018 — The cryptocurrency market had witnessed significant growth in 2017. According to CoinMarketCap, Bitcoin, the world’s largest cryptocurrency by market capitalizations, was up about 1,300 percent last year, while …… of over 8,000 percent. Ripple now ranked as the third largest cryptocurrency by market cap and it surged over 32,000 percent last year. …… JPMorgan inevitably expands its bitcoin operations.” According to Coinmarketcap, the total cryptocurrency market was recently valued over $700 billion, with 1398 cryptocurrencies trading. The growth of the cryptocurrency market is propelled by the transparency and immutability of the distributed …… total ownership cost. However, the uncertain regulations and standards pertaining to cryptocurrency restrain the growth of this market.