Tuesday, October 3, 2023
NEVERFOMOAGAIN
en English▼
X
ar Arabicen Englishfr Frenchde Germanpt Portugueseru Russianes Spanish
  • PASSIVE INCOME
    • How to Earn Cryptocurrencies for free ?
    • Play Games & apps to earn
  • Reviews
  • BLOCKCHAIN ACADEMY
  • TOP 10
  • News
No Result
View All Result
NEVERFOMOAGAIN
NEVERFOMOAGAIN
en English▼
X
ar Arabicen Englishfr Frenchde Germanpt Portugueseru Russianes Spanish
Home CryptoCurrency News

This Week in Coins: Leading Coins Rise Again as Florida to ‘Figure Out’ Accepting Bitcoin For Taxes

Tim Hakki by Tim Hakki
March 26, 2022
in CryptoCurrency News
Reading Time: 9 mins read
0
This Week in Coins: Leading Coins Rise Again as Florida to 'Figure Out' Accepting Bitcoin For Taxes
74
SHARES
1.2k
VIEWS
Share on FacebookShare on TwitterShare on Reddit


This week in coins
This week in coins. Illustration by Mitchell Preffer for Decrypt.

This week, leading cryptocurrencies didn’t just hold onto gains recaptured last week, many kept growing. 

The world’s largest, Bitcoin, broke the critical $40,000 threshold in the middle of last week, and as of this writing was trading for $44,283, a gain of well over 5% in the last seven days.

Rival coin Ethereum managed to stay on the optimistic side of its $3,000 threshold, trading at around $3,116, also a seven-day gain of more than 5%.

Cardano easily had the most explosive upward price trajectory among the top 10 currencies by market cap, posting an eye-watering rally of better than 27% over the last seven days to reach $1.12.

Like Ethereum, Cardano is smart-contract enabled, but Cardano has a super energy-efficient proof-of-stake consensus (PoS) mechanism unlike the environmentally unsound proof-of-work (PoW) consensus mechanisms used by Ethereum and Bitcoin miners.

Among the top 30 coins, Cardano’s growth still trailed Ethereum Classic (ETC), which rose 55% over the last week and traded for $47.

Ethereum Classic spun off from Ethereum in 2015 after a large group of users decided to keep the record of Ethereum’s infamous $55 million DAO hack on their public ledger despite majority assent to its removal.

As Ethereum gradually transitions to an energy-efficient proof-of-stake consensus mechanism, Ethereum Classic will remain a proof-of-work blockchain.

Other notable price movements among leading coins this week all were positive: Solana was up 8% to $100.10 as of this writing, while Litecoin added 9.2% to reach $123.26.

Meanwhile, Bitcoin Cash and Near Protocol both grew around 15%, to be valued at $361 and $13, respectively.

The Week’s News

In Malaysia’s parliament on Monday, Deputy Minister of Communications and Multimedia Zahidi Zainul replied to a question from the opposition about crypto legislation, and said that Malaysia should adopt Bitcoin and other crypto as legal tender, before adding, “We hope the government can allow this.”

That same day in the U.S., institutional crypto broker-dealer Galaxy Digital announced that it facilitated Goldman Sachs’s first over-the-counter (OTC) cryptocurrency transaction. Goldman Sachs is the first major U.S. bank to have made such a crypto transaction. The bank purchased a Bitcoin non-deliverable option (NDO)—essentially a contract betting on the future price of Bitcoin—rather than the asset itself.

Wyoming Senator Cynthia Lummis has almost finished drafting a bill to incorporate crypto into the U.S. tax code. The Bitcoin HODLing Senator has been working on the Responsible Financial Innovation Act since last year, and, according to sources familiar with the matter, the bill likely will attract support from one or two Democratic senators from coastal states.

On Wednesday, Thailand’s Security and Exchange Commission announced it was implementing a ban on crypto as a payment method starting April 1. The official announcement cited concerns that cryptocurrencies may destabilize the nation’s economy. 

Also on Wednesday, U.S. Federal Reserve Chair Jerome Powell spoke to a panel organized by the Bank for International Settlements, a global organization of central banks. Powell reiterated his well-known concerns that crypto could destabilize existing financial institutions. Powell called on states to overhaul their existing regulations.

Some of Miami Mayor Francis Saurez’s crypto bullishness must be rubbing off on greater Florida, because on Wednesday Florida’s Republican governor, Ron DeSantis, reportedly “told the state agencies to figure out ways” to accept business tax payments in crypto. DeSantis added: “We will accept Bitcoin, we’re working on doing that, for payments in the state of Florida.”

This week, it was reported that Meta (formerly Facebook) had previously filed eight trademark applications for its logo to cover a wide range of digital purposes, six of which explicitly refer to cryptocurrency and blockchain-based technologies, including tokens, wallets, and exchanges.

On Thursday, the chair of Russia’s State Duma Committee on Energy, Pavel Zavalny, said during a videotaped press conference that Russia will accept Bitcoin payments for its energy exports from countries that have a neutral stance towards its ongoing invasion of Ukraine. China and Turkey were mentioned by name.

Crypto’s utility in helping Russia circumvent sanctions may be limited, but clearly it has its uses. On the other side of the conflict, crypto has helped channel dozens of millions of dollars into Ukraine’s resistance.

On the same day, Bloomberg reported that international oil and gas giant ExxonMobil is running a pilot cryptocurrency mining program powered by excess natural gas from wells in North Dakota.

Finally, in an interview with CNBC, Treasury Secretary Janet Yellen told Andrew Ross Sorkin her thoughts on crypto after news broke of Russia saying it would accept Bitcoin for exported natural gas. Yellen in 2018 famously said she was “not a fan” of Bitcoin, and earlier this month said the U.S. will monitor crypto channels for signs of attempts to evade sanctions.

While telling Sorkin crypto wasn’t a fad, she said she still has “a little bit of skepticism because I think there are valid concerns about it.” She added: “On the other hand, there are benefits from crypto, and we recognize that innovation in the payment system can be a healthy thing.”

The best of Decrypt straight to your inbox.

Get the top stories curated daily, weekly roundups & deep dives straight to your inbox.





Source link

You might also like

Crowdfunding Site BackerKit Bans AI-Generated Imagery from Campaigns

Elon Musk Livestreams Diablo IV on Twitter to Show Off Twitch-Like Feature

Michael Lewis Claims FTX Was a ‘Great Real Business’

Share30Tweet19Share
Tim Hakki

Tim Hakki

Recommended For You

Crowdfunding Site BackerKit Bans AI-Generated Imagery from Campaigns

by Jason Nelson
October 2, 2023
0
Crowdfunding Site BackerKit Bans AI-Generated Imagery from Campaigns

BackerKit has joined the growing list of platforms prohibiting the use of AI-generated content, announcing on Monday that it would ban campaigns that used generative AI to create...

Read more

Elon Musk Livestreams Diablo IV on Twitter to Show Off Twitch-Like Feature

by Kate Irwin
October 2, 2023
0
Elon Musk Warns AI Could ‘Disarm Humanity’ to Achieve World Peace

Could Twitter, also known as X, become Twitch’s next big rival?Twitter owner and former CEO Elon Musk published a livestream of himself playing Blizzard’s role-playing game Diablo IV...

Read more

Michael Lewis Claims FTX Was a ‘Great Real Business’

by André Beganski
October 2, 2023
0
Pseudonymous FTX Creditors Could Be Doxxed Following Kroll Data Breach

Noted author Michael Lewis was buried under a Crypto Twitter pile-on after he highlighted FTX’s ability to generate cash in an interview with CBS’ 60 Minutes.During the broadcast,...

Read more

Adidas and Moncler Collab Features AI ‘Adventurers’ and NFTs

by Stephanie Hirschmiller
October 2, 2023
0
Adidas and Moncler Collab Features AI 'Adventurers' and NFTs

To telegraph the release of its upcoming collaboration with Adidas Originals, luxury outerwear brand Moncler is unveiling a new campaign entitled “The Art of Explorers.” The campaign pairs...

Read more

Final Fantasy VII Rebirth: Everything You Need to Know

by Ryan Gladwin
October 2, 2023
0
Final Fantasy VII Rebirth: Everything You Need to Know

"The world's ending. At least, that's what everyone says."A Final Fantasy VII remake trilogy has been in the works for years, and the second chapter is just around...

Read more
Next Post
African Digital Art Network Launches Nandi NFT Marketplace on Celo

African Digital Art Network Launches Nandi NFT Marketplace on Celo

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

1 − one =

Support Us.

Donate

  • Donate withMetaMask
  • Donate With MetaMask

  • Donate withNano
  • Donate Nano

    Scan to Donate Nano to nano_38oxm7kwnysjeyz1mdcp9d5rrq55wyox3gm9ejeed3uhdieurwe4r3k39ntt

Cloud

#Avoid Crypto Scam #Banano #BAT #Bitcoin #Brave Browser #Coinbase #Coinbase Earn #CoinMarketCap #CoinMarketCap Earn #Counter-Strike: Global Offensive #Crypto App #Cryptocurrency Faucet #Cryptocurrency glossary #Cryptocurrency scam #Crypto redflags #CryptoRoyale #Crypto scam #Cryptos Wallet #Do Your Own Research #DYOR #DYOR Checklist #Earn Cryptocurrencies #Earning while browsing #Earn NFT #Folding@Home #Free cryptocurrencies #Free NFT #Hi Dollar #Just cause 2 #Learn Crypto #LIKE #Low-cap cryptocurrencies #NANO #NFT #PERP #Play to earn #PRE #Princeton University #Redflags #Review #ROY #Top 10 #URUS #xMOON #XMS
NEVERFOMOAGAIN

© 2021 By NEVERFOMOAGAIN - All rights reserved.

Navigate Site

  • Best Play to Earn Crypto games and Apps
  • Contact Us
  • Content licensing
  • Cryptocurrency News
  • Cryptocurrency Rankings
  • Home
  • How to Earn Cryptocurrencies for free ?
  • How to Learn about Crypto and Blockchain ?
  • Legal Information.
  • Privacy policy
  • Reviews
  • Terms & Conditions

Follow Us

No Result
View All Result
  • PASSIVE INCOME
    • How to Earn Cryptocurrencies for free ?
    • Play Games & apps to earn
  • Reviews
  • BLOCKCHAIN ACADEMY
  • TOP 10
  • News

© 2021 By NEVERFOMOAGAIN - All rights reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Go to mobile version