Crypto news
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Cryptocurrency
IRS Declares Crypto Staking Rewards Subject to Tax in Active Lawsuit
IRS Declares Crypto Staking Rewards as Taxable Income In a groundbreaking announcement detailed in the latest Bloomberg report, the Internal Revenue Service (IRS) has officially declared that cryptocurrency staking rewards are subject to taxation. This decision clarifies that tax liabilities emerge as soon as the staking rewards are received. This pivotal ruling is unveiled amid an ongoing legal dispute initiated by Joshua and Jessica Jarrett from Tennessee. The couple, who…
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Cryptocurrency
Nokia Submits Patent Application for Encrypting Digital Assets
Introduction to Nokia’s Latest Patent Endeavor In a remarkable step forward for both the technology and blockchain sectors, Finnish telecommunications leader Nokia has initiated a patent filing for a groundbreaking encryption technology targeting digital assets. This development was unveiled on December 23 by the China National Intellectual Property Administration (CNIPA), which disclosed a patent application detailing a device, method, and computer program dedicated to the encryption of digital assets. Details…
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Cryptocurrency
Nokia Submits Patent Application for Encrypting Digital Assets
In a groundbreaking move for the technology and blockchain industries, Finnish telecom behemoth Nokia has taken a significant step by filing a patent application focused on the encryption of digital assets. The China National Intellectual Property Administration (CNIPA) publicly disclosed this patent application on December 23. The application elaborates on a device, method, and computer program meticulously designed to encrypt digital assets, marking a forward-thinking approach in safeguarding digital transactions.…
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Cryptocurrency
Expert Discloses Whether Atkins Will Drop the Case
The ongoing legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC) continues to draw attention, with important court deadlines approaching. The U.S. Court of Appeals has outlined a timeline for the case, requiring Ripple to submit a mediation questionnaire by December 23, 2024, followed by an opening brief due on March 6, 2025. Ripple’s response to the brief is expected by April 7, 2025. However, these proceedings…
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Cryptocurrency
Expert Discusses Possibility of Case Dismissal by Atkins
The legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC) over XRP is entering a crucial phase with significant court dates on the horizon. The U.S. Court of Appeals has scheduled important deadlines for the case, marking a pivotal point in this lengthy litigation process. Important Court Deadlines Ripple is required to submit a mediation questionnaire by December 23, 2024. Following this, an opening brief must be…
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Cryptocurrency
Bloomberg’s Mike McGlone Discusses BTC Turnaround, Analysts Foresee Possible Decline
The cryptocurrency market is known for its volatility, and recent fluctuations in Bitcoin’s price have caught the attention of investors worldwide. Mike McGlone, Bloomberg’s Chief Commodity Strategist, has provided insights into the recent price reversal of Bitcoin, which saw it dip significantly from its all-time high of $108,268 to its current level of $93,000. Has Bitcoin/Gold Peaked? According to McGlone, the current downturn in Bitcoin prices extends beyond the cryptocurrency…
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Cryptocurrency
Bloomberg’s Mike McGlone Discusses BTC Turnaround, Experts Anticipate Possible Downturn
Bitcoin’s dynamic price movements have once again caught the attention of investors and analysts. In recent updates, Bloomberg’s chief commodity strategist Mike McGlone has provided insights into why Bitcoin’s price has experienced a significant reversal, plummeting from its recent all-time high of $108,268 to a current value of approximately $93,000. Has Bitcoin/Gold Peaked? The ongoing debate about whether Bitcoin and gold have reached their peak continues to stir discussions in…
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Cryptocurrency
Considering Solana? Expert Highlights SOL’s Potential Buy Signal
Solana (SOL), currently recognized as the world’s fifth-largest cryptocurrency by market capitalization, has been under the spotlight due to a significant price decline observed over recent days. This decline has piqued the interest of investors and analysts alike as they seek to understand the underlying factors and potential future movements of this digital asset. Solana (SOL) Flashing Buy Signal, Expert Insights In the midst of this ongoing price dip, a…
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Cryptocurrency
Is Now the Moment to Invest in Solana? Analyst Highlights SOL Showing a Buying Opportunity
Solana (SOL), ranked as the world’s fifth-largest cryptocurrency by market capitalization, has recently faced a significant downturn in its price trajectory. This development has sparked considerable interest among cryptocurrency enthusiasts and traders who are closely monitoring the market for potential opportunities. Solana (SOL) Flashing a Prominent Buy Signal, According to Experts In the midst of this ongoing price decline, a leading crypto analyst took to X (formerly known as Twitter)…
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Cryptocurrency
Leading 5 Blockchains by Total Value Locked in 2024: Ethereum Reigns in Decentralized Finance
In the dynamic world of Decentralized Finance (DeFi), the term “Total Value Locked” (TVL) serves as a crucial metric. It quantifies the total value secured within the smart contracts of a blockchain, acting as a barometer for the blockchain’s adoption and activity in the DeFi sphere. A higher TVL often indicates greater trust and usage within the DeFi ecosystem. Among numerous blockchains, five stand out by TVL, effectively ruling the…
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