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Celestia (TIA) Price Rising by 50% Triggers Historical Shorting
Celestia’s (TIA) price rise in the last few days made it one of the best-performing assets this week and in the last 24 hours. But instead of imbuing confidence and optimism, the rally inspired investors to take a different, more bearish path to churn profits. Celestia Investors Want a Crash Celestia’s price had a good run this week as the altcoin recovered most of its recent losses. But as this happened, TIA holders got the idea to take a more destructive idea of shorting the altcoin heavily. Signs of the same are visible in the Open Interest and Funding Rate....
IRS Eases Crypto Tax Form Requirements with Latest 1099-DA Draft
You are here: Home / News / IRS Eases Crypto Tax Form Requirements with Latest 1099-DA Draft The United States Internal Revenue Service (IRS) has made significant updates to its crypto taxation form, 1099-DA, which is designed specifically for crypto brokerage accounts. This move is an important step in the overall strategy to organize and explain the procedure of reporting transactions relevant to a digital asset. On August 9, Ji Kim, Head of Global Policy, Digital Assets, and General Counsel at the Crypto Council for Innovation, shared the news via X. Kim emphasized that the latest draft of the 1099-DA...
U.S. Senator Backs Out of Controversial Cryptocurrency Legislation
TLDR Senator Roger Marshall has withdrawn his support for the Digital Asset Anti-Money Laundering Act (DAAMLA). The DAAMLA bill aims to bring the crypto industry under existing anti-money laundering frameworks. The bill has faced criticism from crypto advocates and former government officials. Senator Elizabeth Warren, who co-sponsored the bill, is running for reelection in 2024. The bill classifies various crypto service providers as financial institutions subject to Bank Secrecy Act compliance. In a surprising turn of events, Republican Senator Roger Marshall has withdrawn his support for the Digital Asset Anti-Money Laundering Act (DAAMLA), a bill he co-sponsored with Democratic Senator...
