Global #crypto industry

The US Treasury Department has recently finalized a new set of tax rules for cryptocurrencies, aligning them more closely with existing tax reporting requirements for traditional financial instruments like stocks and bonds.

In a recent report, financial giant JP Morgan has outlined their expectations for Bitcoin (BTC) for the upcoming months of July and August, indicating a potentially turbulent period for the cryptocurrency.

The global cryptocurrency industry is on high alert as governments worldwide prepare their 2024 budgets, with potential implications for the rapidly evolving digital asset landscape.

Coinbase, a leading cryptocurrency exchange platform, has launched a $2 million advertising campaign aimed at Latino voters and consumers across the United States. The company revealed this initiative to Reuters, highlighting the crypto industry's growing efforts to engage with diverse communities and influence political discourse surrounding digital assets.

In a bold move, ConsenSys, a leading blockchain software technology company, has publicly refused to comply with the Internal Revenue Service's (IRS) new cryptocurrency tax regulations and reporting requirements. The company argues that the regulations are overly complex, burdensome, and stifle innovation in the rapidly evolving digital asset space.

In a surprising turn of events, South Korean lawmakers are reportedly considering the abolishment of the country's nascent cryptocurrency tax law. The tax, initially slated to come into effect in 2025, has been a point of contention within the nation's crypto community and political sphere.