FridayJan 03, 2025 8:00 am

Factors That Could Shape Crypto’s Trajectory in 2025

The cryptocurrency market experienced a groundbreaking year, with significant developments propelling its growth. In January, the launch of numerous spot Bitcoin ETFs marked the beginning of a rally, simplifying access for Bitcoin trading. By September, central bank rate cuts and other measures further supported the rally, creating favorable conditions for economic expansion. However, one of the most impactful events for the sector was Donald Trump’s victory. During his campaign, Trump voiced strong support for cryptocurrencies and has since appointed several crypto advocates to key roles in his administration, such as Paul Atkins as the new chair of the SEC. These…

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ThursdayJan 02, 2025 8:00 am

Biden Admin Finalizes Regulations Granting IRS Full Oversight Over Crypto Transactions

The IRS and the U.S. Treasury Department have completed a comprehensive set of regulations targeting brokers involved in virtual asset transactions. The new rules, set to appear in the Federal Register on December 30, impose significant reporting obligations on brokers, including some decentralized finance (DeFi) platforms. Brokers are required by the legislation to keep an eye on and report user activity, including transactions involving assets such as stablecoins and non-fungible tokens (NFTs). The alterations were brought to light on X by Bill Hughes, a senior counsel and an influential voice in the cryptocurrency industry. He remarked, “The IRS and Treasury…

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