Crypto Biz: Crypto fever hits wealth managers

Stablecoins with a clear governance framework may be hampered by the uncertainty of the lack of regulation, according to the European Central Bank (ECB).Four major types of stablecoins outlinedOn Aug. 29, the ECB released a new paper devoted to stablecoins, which it describes as digital units of value that are not a form of any…

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Purchasing crypto with fiat or any “unrealized appreciation” are not taxable events according to Thomas Shea, an EY crypto tax executive. 249 Total views 26 Total shares While many refer to crypto as the “Wild West,” some believe that this may only continue for a little longer.Thomas Shea, crypto tax leader at EY Financial Services,…

It's been another bullish week for Bitcoin (BTC) as the price surged past the critical $7,200 resistance, as mentioned in last week's analysis, all the way to $7,300.However, the price has corrected slightly and is now sitting just below $7,200. So was this the local top? Or has the leading digital asset got some steam…

Thomas Jordan, head of the Swiss National Bank, announced the project at a conference in Zurich; bank still feels “prudent” about a retail CBDC, though. 247 Total views 1 Total shares The head of the Swiss National Bank (SNB) has announced that the bank will launch a wholesale central bank digital currency (wCBDC) pilot project,…

The Ministry of Finance (MoF) of the United Arab Emirates (UAE) will discuss the development of blockchain and digital assets in the country’s economy at the 7th World Government Summit. The news was reported by business news outlet the Gulf Today on Feb. 7.The MoF will hold two closed sessions devoted to global financial trends,…

Wednesday, July 31 — After falling below the $10K barrier on July 27 and splashing around in the mid-$9,000s for the intervening days, Bitcoin (BTC) is back in the five figures as of 3:15 PM UTC.Infographic courtesy of CoinMarketCapAfter starting the day around the $9,500 price point, BTC has seen steady increases on the day…

Kraken is required to provide details of users who engaged in transactions exceeding $20,000 within a calendar year. 224 Total views 1 Total shares A federal court ordered crypto exchange Kraken to turn over account and transaction information to the Internal Revenue Service (IRS), which said it needed that information to see if any of…