Bitcoin and Ethereum Rebound After BlackRock Files for Ethereum-Based ETF
Bitcoin (BTC) and Ethereum (ETH) prices have rebounded after BlackRock, the world's largest asset manager, filed for an Ethereum-based ETF with the U.S. Securities and Exchange Commission (SEC). The news has sparked renewed optimism among crypto investors, who believe that it could signal a broader institutional adoption of cryptocurrencies.
Crypto Winter Thaws: The dawn of Bitcoin ETFs led by BlackRock
The approval of the first Bitcoin exchange-traded fund (ETF) in the United States has been hailed as a watershed moment for the cryptocurrency industry. The ProShares Bitcoin Strategy ETF, which began trading on the New York Stock Exchange (NYSE) on October 21, has been met with strong demand from investors, suggesting that there is a growing appetite for exposure to Bitcoin among institutional investors.
MicroStrategy Bought $600M of BTC in November, Increased Holdings by 10%
MicroStrategy, the business intelligence company that has been a vocal proponent of Bitcoin, has purchased an additional 600 million worth of BTC in November, increasing its total holdings by 10%. The company now holds over 130,000 BTC, worth over $6 billion.
Brazil to Impose 15% Tax on Crypto Earnings Held on Offshore Exchanges: Report
The Brazilian government is reportedly planning to impose a 15% tax on crypto earnings held on offshore exchanges. The move comes as the government steps up its efforts to regulate the crypto industry.
UK Won't Excuse Ignorance in the Hunt for Unpaid Crypto Taxes, Experts Say
The UK's tax authority, Her Majesty's Revenue and Customs (HMRC), is taking a tough stance on crypto tax compliance. The agency has warned that it will not excuse ignorance as it ramps up its efforts to collect unpaid crypto taxes.
In addition to these headlines, here are some other notable news items from the crypto world:
Celo Developer Proposes Mid-January Timeline for Evaluating Closely Watched Layer-2 Move. The Celo blockchain network is set to undergo a major upgrade in mid-January that will introduce a new layer-2 scaling solution called "Optimistic Rollups."
Terraform Labs, Do Kwon Fail to Have Singapore Class-Action Suit Rejected: Report. Terraform Labs, the company behind the Terra blockchain, and its CEO, Do Kwon, have failed to have a class-action lawsuit filed against them in Singapore rejected. The lawsuit alleges that the company engaged in misleading and deceptive marketing practices.
Republicans' Leadership Squabbles Delayed U.S. Crypto Bills Until 2024, Key Lawmakers Say. The U.S. Senate Banking Committee is unlikely to consider any crypto legislation until 2024, according to key lawmakers. The delay is due to leadership squabbles within the Republican Party.