Crypto industry calls on Congress to block new DeFi broker rules
The new IRS rules classifying DeFi protocols as brokers have triggered a swift backlash in the crypto industry, with calls for Congress to overturn the rules.
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EU finalizes Data Act with a kill switch for smart contracts: Law Decoded, June 27–July 3
European Union lawmakers have agreed to move ahead with the controversial European Data Act, which has previously drawn criticism from the crypto community. 618 Total views 1 Total shares European Union (EU) lawmakers have agreed to move ahead with the controversial European Data Act, which has previously drawn criticism from the crypto community. The act,…

Bitcoin whale clusters show $9.8K support is now weaker despite rally
According to data from Whalemap, an on-chain analysis firm that tracks Bitcoin (BTC) whales, the $9,800 support has weakened.The researchers at Whalemap track whale activities by following addresses owned by whales — individual investors that own large sums of BTC. They explained:“Some HODLer activity yesterday. Bubbles show where these HODLer coins were coming from. The…

Bitcoin adoption could reach 90% by 2030, investment firm founder claims
Adoption started slow, but has ramped up with the passage of time. 1125 Total views 14 Total shares With the recent influx of mainstream financial players into the blockchain space, how long will it take for corporate allocation of Bitcoin to become the norm? Brian Estes, founder of investment firm Off The Chain Capital, thinks 10…

Russians transact $5B in crypto each year, Bank of Russia says
Though Russia has become a global leader in the crypto market, the Bank of Russia is still skeptical about Bitcoin. 161 Total views 25 Total shares Russian people are among the world’s most active participants of the cryptocurrency market, according to the country’s central bank.The Bank of Russia published a fresh review on financial stability…

XRP risks losing top-5 crypto status as Polkadot, Cardano market caps hit $21B
A second usurping of XRP by Polkadot leaves it perilously close to exiting the top five cryptocurrencies by market cap. 156 Total views 2 Total shares XRP briefly lost its top-three altcoin position on Feb. 9 after newcomer Polkadot (DOT) overtook its market cap in an ongoing altcoin shake-up.Data from Cointelegraph Markets and CoinMarketCap confirms that…

Don't jump to conclusions about ETH 'pullbacks' — Traders
Bitcoin's price dropped 15% after spot Bitcoin ETFs started trading, but traders aren't so sure that Ether's price will react the same way.

Going feeless is the only way to enable blockchain adoption
Face-to-face transactions are starting to seem quaintly archaic as many countries continue or even expand lockdowns due to the ongoing COVID-19 pandemic. Since the start of the crisis in early 2020, digital transactions have surged, particularly in e-commerce and digital banking. In contrast with face-to-face transactions, such as a direct payment of cash in exchange…

Crypto bankruptcies net law firms $751M in fees
Four law firms collectively earned $484 million from their work on the crypto bankruptcies, representing 64% of all fees requested and received in these cases.