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SEC ‘backed into a corner,’ IRS tracks crypto trades, and Mickey Mouse NFTs: Hodler’s Digest, Dec 31 – Jan 6

Press Releases Crypto News Cointelegraph SEC ‘backed into a corner,’ IRS tracks crypto trades, and Mickey Mouse NFTs: Hodler’s Digest, Dec 31 – Jan 6

SEC has been ‘backed into a corner’ on BTC ETF approval — Bloomberg analyst

The United States Securities and Exchange Commission “has been backed into a corner” in approving a spot Bitcoin exchange-traded fund (ETF), according to Bloomberg analyst James Seyffart. The analyst said the investment vehicle has a 90% chance of receiving the green light between Jan. 8 and 10. A go-ahead in the coming days could bring $10 billion in inflows to Bitcoin ETFs in the first year. However, widespread adoption could take weeks or even months, as institutional investors will likely carry out due diligence before adding the cryptocurrency to their portfolios, noted Seyffart.

IRS rules require reporting data from $10k crypto transactions in 2024

Crypto brokers are now required to report personal information on digital assets transactions worth more than $10,000 to the Internal Revenue Service (IRS). The requirement is part of the infrastructure bill signed into law in 2021 by President Joe Biden, and seeks to reduce the size of the tax gap in the United States. Upon completion of a transaction, brokers must provide the tax agency with the sender’s name, address and social security number within 15 days. Following the bill’s passage, many lawmakers suggested additional legislation to “fix” the reporting requirement, claiming that the information required from brokers would be difficult or impossible to collect.

Early Mickey Mouse version becomes top NFT on OpenSea after copyright expires

Walt Disney Company’s original incarnation of the Mickey Mouse mascot recently entered the public domain and quickly Go to Source to See Full Article
Author: Editorial Staff

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