The Federal Reserve and the Financial Crimes Enforcement Network (FinCEN) have proposed lowering the threshold for registering remittances outside the United States, including for cryptocurrency transactions. According to the document, the US Federal Reserve and FinCEN are proposing to change the thresholds at which banks must collect and store information about remittances. Regulators are proposing to decrease this value from $ 3,000 to $ 250 for any transfers outside the United States. The proposal will

The Internal Revenue Service (IRS) has made changes to the taxpayer reporting form. Coins received during hard forks are taxed, and transfers between wallets do not need to be disclosed. In the latest version of the Personal Income Tax Form 1040, the IRS has clarified which cryptoassets and transactions need to be disclosed. According to the new principles, if a user only owned a cryptocurrency, but did not trade it during 2020, then he can

According to the latest report, the MESS system launched by ETC Labs to protect Ethereum Classic against “51%” attacks may not be as effective or secure as other alternative solutions. This summer, the ETC blockchain fell victim to three 51% attacks in a month. In mid-October, ETC Labs implemented MESS (Modified Exponential Estimation of Subjectivity) to reduce the likelihood of future attacks by 51%. However, according to a report by IOHK and ETC Cooperative, “The

The NAC Foundation denies that AML BitCoin is a security and accuses the US Securities and Exchange Commission (SEC) of fraudulent conduct in a legal proceeding. Earlier, the SEC accused the NAC Foundation, its CEO Marcus Andrade and political lobbyist Jack Abramoff of organizing an unregistered sale of AML BitCoin cryptoassets in the amount of $ 5.6 million, fraud and misleading investors. Abramoff agreed to pay a $ 50,000 fine, as well as $ 5,501

Bitcoin has surpassed $ 12,800, hitting a high since July 2019 amid growing support from institutional investors and large companies. Today’s leap in the rate was mainly due to the announcement of the PayPal payment system to add support for bitcoin and other cryptocurrencies. Quantum Economics analyst Jason Deane believes that reaching this mark is important for Bitcoin, after which it can renew highs and continue to grow. https://bits.media/upload/medialibrary/682/211020_Bitcoin_price.png Institutional investors are helping the development

US PayPal users will be able to buy, sell and store cryptocurrencies. It is planned to add these features for international customers in 2021. US citizens will be able to conduct cryptocurrency transactions via PayPal in the next few weeks, and the company’s Venmo mobile payment service will add this capability in the first half of 2021. On this news, bitcoin rushed up and is preparing to overcome $ 12,500, updating the maximum since last

US Federal Reserve Chairman Jerome Powell said the regulator will not issue a digital dollar until all associated risks have been eliminated. Powell announced this during a speech at the International Monetary Fund conference on cross-border payments. According to him, the United States is not seeking to be the first to issue its own digital currency. Issuing a government stablecoin is a serious task requiring extensive research. It is necessary to take into account not

The user mistakenly sent AAVE tokens worth $ 1.1 million to the token’s smart contract address. Now these tokens are locked on the blockchain and cannot be returned. Cryptocurrency enthusiasts discovered an erroneous transaction for 28,050 AAVE decentralized finance (DeFi) tokens worth approximately $ 1.1 million, which led to their irrecoverable loss due to an error in the recipient’s address. According to Etherscan, the transaction took place back on October 3, but went unnoticed until

The Associated Press (AP) news agency has partnered with Everipedia and Chainlink, a decentralized oracle network, to track down fake news. The collaboration will allow AP to authenticate race-related news using blockchain, according to a statement from Everipedia. The Associated Press works with a large number of freelance journalists to get information on local campaign developments. The news agency will use the power of the blockchain to cryptographically sign the data it receives from these

The developers of the privacy-focused cryptocurrency Monero have rolled out another update to the Oxygen Orion network. According to a Monero blog post, the latest node software update is the work of about 30 developers. The Oxygen Orion update will bring new features to improve network efficiency. For example, the update includes the CLSAG feature, which reduces the size of network transactions by about 25% and the time to confirm transactions by about 10%. At