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There is an ongoing “scrum between the big banks… and the incumbent stablecoin issuers, and then there’s Tether,” which is not based in the US, Long said.
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Tischhauser estimates altcoin ETFs to see cumulative inflows of several hundred million to $1 billion, far lower than the more than $100 billion in net assets held by US Bitcoin ETFs.
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Retail crypto investor sentiment was hit by another multi-billion memecoin meltdown, previously endorsed by Argentine President Javier Milei, who faces political pressure from his opposition after his endorsement led to a rug pull that erased over $4 billion from the token’s market capitalization within hours.
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https://warpcast.com/bonnies6ja/0x0f9959cf
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Chinese gaming firm Boyaa Interactive announced that it expects its net profit for 2024 to surge by as much as 640% to 680% compared to 2023, primarily due to gains from its Bitcoin holdings, according to a filing on Feb. 16.
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On Feb. 12, the firm announced that World ID verification had become available in the Indonesian capital, Jakarta.
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World ID Orb verifications are initially available in select cities in the province of Bulacan, just outside Manila, in preparation for nationwide availability.
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The Republican Party’s 2024 platform described Biden’s order as a hindrance to AI innovation, saying, “In its place, Republicans support AI Development rooted in Free Speech and Human Flourishing.”
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Trump had criticized Biden’s AI regulations as heavy-handed and hindering tech innovation, arguing that overregulation stifles creativity and economic growth.
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In a Jan. 20 list of presidential actions, Trump revoked Biden’s 2023 executive order that created standards for AI safety and security, including requiring AI makers to share safety test information with the government.
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US President Donald Trump quickly axed a raft of former President Joe Biden’s executive orders on his first day back in the White House — including a sweeping artificial intelligence executive order.
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The decision to extradite the former crypto executive to the US follows a legal battle that took several turns, with extradition being reversed more than once. US and South Korean prosecutors have requested Kwon’s extradition to stand trial for offenses in their jurisdictions.
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After the country’s constitutional court dismissed Kwon’s appeal, the Montenegrin Minister of Justice Bojan Božović approved Terraform Labs co-founder Do Kwon’s extradition to the United States.
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While bigger transactions are affected, the Turkish government said the new rule will not apply to crypto users transacting with amounts below the $425 threshold. The new rule is set to take effect on Feb. 25, 2025.
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Turkey also introduced new crypto reporting rules to combat money laundering. Under the new regime, users transacting with more than 15,000 Turkish lira (about $425) must share their information with the country’s service providers.
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The organization argued that the rule violates the Administrative Procedure Act and risks crippling the digital asset space in the country.
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Kristin Smith, the CEO of the Blockchain Association, said that they are taking action and are standing with the nation’s innovators to “ensure the future” of crypto and DeFi in the US.
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In response to the new IRS rules, the Blockchain Association and the Texas Blockchain Council filed a lawsuit against the IRS, arguing that the rules are unconstitutional.
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With the new rules, DEXs could be treated as brokers if the decentralized finance (DeFi) platform facilitates the exchange or sale of digital assets and exercises sufficient control or influence on the transaction process.
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Once the rules take effect in 2027, brokers will be required to disclose information about taxpayers involved in digital asset transactions. The brokers will also be required to report their gross proceeds from crypto and other digital asset sales.
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