Krypto Tribe

Key points: As Congress considers stablecoin legislation, one longtime cryptocurrency supporter points out an anomaly. Tether is an outlier among large dollar-pegged stablecoin providers, with limited disclosures and an executive board that is nowhere to be found. One member of Congress has identified a significant anomaly among stablecoins, which is a hot topic on Capitol Hill right now. "Tether, for example, is a time bomb," Warren Davidson (R-OH) remarked of the financial hazards posed by stablecoins in an interview with The Block. "There isn’t transparency or disclosure there. They acknowledge that they have commercial paper, but they don’t disclose what exactly that is. That’s where I think that a framework that compels disclosure does provide investor protection.” "Regulators ought to get their arms around Tether," Davidson added, referring to a contentious Securities and Exchange Commission enforcement action. To be honest, there's a lot more justifi

  On Saturday, the price of Solana (SOL) appears to be exhausted near the higher levels. As accumulation increases near the demand zone, buyers stayed committed to the coin for about $88.0. The price pushed near $115.0 due to the unwavering strong sentiment. After testing two-week highs, the price of Solana (SOL) halted. If SOL breaks through $120 in the near term, expect more gains. At $145.0, the price is still trading below the 200 DMA. The price of SOL is still under pressure around two-week highs. On the daily chart, the formation of "Doji" candlesticks on Thursday following the bulls' rejection near the higher levels indicates that investors are not ready to give up on the coin easily. In a retaliatory action, the price tested the same level once more. This is a critical trading level, and acceptance above $120 is required for traders to maintain upside momentum. Source: Trading View The momentum oscillator Daily Relative Strength Index (RS

 Crypto staking and mining enthusiasts can finally exhale a sigh of relief, as the IRS has decided not to tax unrealized gains from crypto staking or mining digital assets. This is a huge relief because many crypto supporters have been speaking out against these proposed taxes over the last few months. Blockworks' Casey Wagner was the first to report on this storey. She claims that a Nashville couple will receive a tax refund for unsold Tezos tokens staked on the blockchain network. This clarifies how cryptocurrencies that have been staked are taxed. According to people familiar with the situation, the IRS has offered the couple a refund for earned but unredeemed rewards. According to a legal complaint filed on May 26, 2021, Joshua and Jessica Jerrett requested a refund of $3,293 in income tax paid in 2019 for the receipt of 8,876 Tezos tokens in May 2021 with the US District Court for the Middle District of Tennessee. In addition, the couple requested a $500 increase in tax credit

 Following an unprecedented market boom in 2021, when more cryptos were created than ever before, the number of cryptocurrencies continues to grow in 2022. Notably, when using a web archive tool in January 2022, over 1,000 new cryptocurrencies emerged in the crypto market; Finbold was able to determine that the number of crypto assets was 16,238 on January 1, 2022, based on the data obtained. On January 31, there were 17,240 cryptocurrencies in circulation, implying that 1,002 new cryptocurrencies were launched in just one month. As of February 2, there are already 17,275 cryptos available on the market, but this figure is expected to rise. According to CoinMarketCap statistics, the new cryptocurrencies represent a 6.17 percent increase from the beginning to the end of the month; this equates to 33 assets being added every day for the next 31 days. It's worth noting that the number of cryptocurrencies increased in tandem with the cryptocurrency market's growth in 2021. On Janua

  Live Updates on Crypto Taxation in Budget 2022, Cryptocurrency Taxation in the Union Budget 2022: Live News: The budget is expected to provide clarity on the crypto tax. Live Updates on Cryptocurrency Taxes in the Union Budget 2022 The crypto tax regime in India has finally arrived! The government has taken a conservative stance on crypto asset taxation, announcing a flat 30% tax on such income. Finance Minister Nirmala Sitharaman stated in her Budget Speech 2022 that income from the transfer of virtual digital assets would be taxed at 30%. She also stated that no set off will be permitted in the event of a loss. Gifts of virtual digital assets would also be taxed in the recipient's hands. The announcement of heavy tax on crypto income comes as a big disappointment for crypto investors. The Finance Minister also said that by 2023, a Blockchain-based and RBI-backed Central Bank Digital Currency (CBDC) will be introduced. "The clarity on taxation of digital assets is long over

A large amount of Bitcoin is on the move, which was previously linked to the 2016 Bitfinex exchange hack. Recently, the popular Twitter handle Whale Alert reported two such incidents in which Bitcoins worth more than $750 million were transferred to an unknown wallet. According to a recent report, more than 20,000 Bitcoins were moved in two separate transactions of 10,000 BTC each. This is the second time in the last year that hackers have moved funds stolen from the Bitfinex hack in 2016. At the time, 119,756 BTC were stolen from the exchange, causing the market to crash. Last year when Bitcoin was trading at its all-time high in mid-April 2021, the hackers had moved the first batch of Bitcoins worth $750 million. Will This Affect the Price of Bitcoin? It will be interesting to see if this move adds to the volatility of the Bitcoin price. Nearly 20% of the total Bitcoin stolen has been moved by hackers. While most exchanges have made it impossible to cash out stolen exchanges, hackers