The infrastructure bill cracks down on crypto tax reporting. What investors need to know

Chinnapong | iStock Editorial | Getty Images Cryptocurrency investors may face higher taxes as the infrastructure bill cracks down on future IRS reporting, financial experts say. The $1.2 trillion deal calls for mandatory yearly tax reporting from digital currency brokers starting in January 2023 to help pay for President Joe Biden’s domestic spending agenda.  The measure may bring in … Read more

Bitcoin climbs back above $57,000 as cryptocurrencies rebound from sell-off

The value of Bitcoin (BTC) has exceeded the threshold of 66,895 dollars for the first time in his history. Chesnot | Getty Images Bitcoin and other cryptocurrencies surged Monday after a sharp sell-off at the end of last week. The price of bitcoin climbed nearly 6% in the last 24 hours to $57,373, according to … Read more

Cryptocurrency exchange Coinstore enters India despite pending curbs on trade

MUMBAI: Singapore-based virtual currency exchange Coinstore has begun operations in India at a time when the Indian government is preparing legislation to effectively bar most private cryptocurrencies. Coinstore has launched its web and app platform and plans branches in Bangalore, New Delhi and Mumbai which will act as its base in India for future expansion, … Read more

Bitcoin retreats 20% from record, joining risk-asset sell-off

By Joanna Ossinger and Emily Graffeo Bitcoin tumbled 20 per cent from the record high it notched earlier this month as a potentially worrisome new variant of the coronavirus spurred traders to dump risk assets across the globe. The world’s largest cryptocurrency fell as much as 9 per cent to $53,552 on Friday. Ether, the … Read more

Kevin O’Leary: ‘I have no interest in being a crypto cowboy’

Kevin O’Leary Scott Mlyn | CNBC Celebrity investor Kevin O’Leary is investing in digital currencies, but he hasn’t done so lightly, telling CNBC that he’d prefer to consult with regulators on this space rather than be a “crypto cowboy.” O’Leary told CNBC’s “Capital Connection” on Tuesday that he preferred to consult with regulators before investing … Read more

India might tighten crypto rules instead of imposing an outright ban, crypto exchange boss says

India is set to propose a new cryptocurrency bill in parliament, and investors are trying to make sense of what this might mean for the future of virtual coins in South Asia’s largest economy. Lawmakers may ultimately opt to impose tough regulations on the crypto market instead of an outright ban on private coins, according … Read more

Stripe says it’s open to accepting crypto for payments, three years after ending bitcoin support

John Collison, President and co-founder of Stripe, attends the 2018 Viva Tech conference in Paris. Christophe Morin | IP3 | Getty Images Stripe isn’t ruling out accepting cryptocurrency as a method of payment in the future, according to co-founder John Collison. The online payments company ended support for bitcoin payments in 2018, citing the digital … Read more

Ripple seeing ‘good progress’ in SEC case over XRP, outcome expected next year

In this photo illustration of the ripple cryptocurrency ‘altcoin’ sits arranged for a photograph on April 25, 2018 in London, England.  Jack Taylor | Getty Images News | Getty Images Fintech company Ripple is making great strides in its legal feud with the U.S. Securities and Exchange Commission, CEO Brad Garlinghouse told CNBC on Monday. … Read more

Bank of America’s Hartnett sees credit and crypto as ‘next dominoes to fall’ on tighter Fed policy

A man wearing a face mask walks past the U.S. Federal Reserve in Washington, D.C., the United States, on Dec. 2, 2020. Liu Jie | Xinhua News Agency | Getty Images Tighter Federal Reserve policy than the market expects looks to have immediate ramifications for bonds and cryptocurrencies before spreading to stocks, according to Bank … Read more

India might create obstacles to cryptocurrency trading and holding; ban may be rescinded

India plans to tighten regulation of cryptocurrencies to deter investors from holding them though the government is unlikely to follow through with an earlier plan to ban private digital coins, according to two sources familiar with the discussions. Instead, it could allow only those that have been pre-approved by the government to be listed and … Read more