Finance

Crypto crackdown to help finance bipartisan infrastructure bill

Lewis 10 months ago

Sen. Cynthia Lummis, R-Wyo., on the Senate Banking Committee’s hearing on cryptocurrency regulation and risks.

The infrastructure deal agreed upon by lawmakers and President Biden on Wednesday includes a crackdown on cryptocurrencies as one way to raise revenue to support spending.

In order to finance more than $500 billion in new spending on infrastructure initiatives, the group said it intends to strengthen tax enforcement when it comes to cryptocurrencies.

As previously reported by FOX Business, IRS Commissioner Charles Rettig requested broader authority from Congress in June to collect information on cryptocurrency transactions. 

Rettig said that these transactions, by design, are

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CoinZoom Advances Traditional Financial Services Tools Via a Fully Featured Cryptocurrency Platform

Lewis 10 months ago

With several features, including trading, crypto debit cards, and remittances, CoinZoom, a fully regulated platform, facilitates cryptocurrency use in the physical world by supplying digitized alternatives to traditional financial services offerings.

Crypto-Based Services Offerings To Bolster Real-World Uses

With the tailwinds of cryptocurrency’s meteoric climb over the last few years, more and more crypto-based services are joining the momentum. Among the long list of decentralized finance (DeFi) projects, all aimed at accelerating the mainstream adoption of crypto, CoinZoom, the next-generation cryptocurrency exchange, has cemented itself as a significant contributor to the advancing decentralized revolution.

Even though centralized financial systems

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Could ethereum overtake bitcoin?

Lewis 10 months ago
Bitcoin v ethereum: who will be the eventual winner? Photo: Dado Ruvic/Illustration/Reuters

Bitcoin v ethereum: who will be the eventual winner? Photo: Dado Ruvic/Illustration/Reuters

Robert Metcalf, the founder of ethernet technology, formulated a law that the value of a network increases with the square of the number of users on it. Since July ethereum (ETH-USD) has overtaken bitcoin (BTC-USD) to become the largest network for trustless money settlements, a sign that the world’s pre-eminent cryptocurrency is giving ground to its younger competitor. 

This week data from Bitinfocharts shows that ethereum has 770,144 network addresses, 94,207 more than bitcoin which has only 675,937. Another network metric to evaluate a

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Why Ethereum’s ‘London’ Upgrade Matters

Lewis 10 months ago

In T-minus 10 days, the Ethereum blockchain will undergo its 11th backward-incompatible upgrade, also called a “hard fork.” This hard fork, dubbed “London,” contains five Ethereum Improvement Proposals (EIPs), each featuring code changes aimed at optimizing and improving the world’s second-largest cryptocurrency by market capitalization. 

Of these five EIPs, EIP 1559 has been the most controversial among Ethereum stakeholders due to its radical redesign of the network’s fee market. Today’s Briefing features an edited excerpt from CoinDesk Research’s latest report, “The Investment Implications of EIP 1559,” that explains the risks and reward dynamics of this code change for

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Bitcoin and other cryptocurrencies surge on Amazon payments rumours

Lewis 10 months ago
A recruitment ad by Amazon has stoked speculation the company may have a favourable view of cryptocurrencies. Photo: Artur Widak/NurPhoto via Getty Images

A recruitment ad by Amazon has stoked speculation the company may have a favourable view of cryptocurrencies. Photo: Artur Widak/NurPhoto via Getty Images

Bitcoin (BTC-USD) and other cryptocurrencies surged higher on Monday morning, amid speculation that e-commerce giant Amazon (AMZN) could soon accept tokens as payment.

Bitcoin was up 12{411eb973a98e0445d59679b103f9af09be25ea404b3987135139cfb5b0c3a2af} to $38,723 (£28,169) at just after 8am on Monday morning in London. It marked the cryptocurrency’s highest price in over a month.

The rally was linked to well founded speculation that Amazon could be poised to enter the cryptocurrency area.

Bitcoin surged on Monday morning after reports suggested Amazon was close to accepting the token as payment. Photo: Yahoo Finance UK

Bitcoin surged on Monday morning after

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Americans know about cryptocurrency but most aren’t interested in investing

Lewis 10 months ago

Names like bitcoin (BTC-USD), dogecoin (DOGE-USD), ethereum (ETH-USD), and litecoin (LITE-USD) are entrenching themselves in the financial and cultural lexicon. 

But most people are not ready to take the cryptocurrency plunge, a new poll suggests.

A YouGov survey of 1,715 U.S. adults, conducted exclusively for Yahoo, found that 89{411eb973a98e0445d59679b103f9af09be25ea404b3987135139cfb5b0c3a2af} of respondents had heard of bitcoin and a clear majority (57{411eb973a98e0445d59679b103f9af09be25ea404b3987135139cfb5b0c3a2af}) of those who were aware would not invest in any cryptocurrency. (The poll, conducted July 13-15, 2021, had a margin of error of ±2.7{411eb973a98e0445d59679b103f9af09be25ea404b3987135139cfb5b0c3a2af}.)

Of the respondents who had heard of bitcoin, 13{411eb973a98e0445d59679b103f9af09be25ea404b3987135139cfb5b0c3a2af} said they personally owned cryptocurrency and 27{411eb973a98e0445d59679b103f9af09be25ea404b3987135139cfb5b0c3a2af}

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