The crypto community has voiced its dissatisfaction with the proposed crypto tax reporting regulations put forth by the Biden administration. These rules, designed to detect tax evasion and simplify filing processes, may adversely affect the digital asset industry within the United States. On August 25th, the Internal Revenue Service (IRS) released a proposal outlining requirements […]
crypto industry
Chinese Monsoon Season Floods Threatening Bitcoin Miners, Three Gorges Dam on “Verge of Crashing?”
The massive floods in China during this year’s monsoon season have caught the attention of the cryptocurrency industry. Crypto enthusiasts are now worried about the impact of the acute flooding on the large number of Bitcoin miners situated in Sichuan province. Notably, the floods have ousted millions of Chinese hence the growing concerns by the […]
Indian Banks Hesitating to Embrace Crypto Industry Albeit RBI Consent
The Reserve Bank of India (RBI) reversal of the outright crypto-currency ban in March was a gift to the flourishing Indian crypto-industry. The country’s emergence of new exchange platforms has been the incentive to the industry ‘s steady and healthy growth. While India is one of the most affected nations by the coronavirus pandemic, this […]