Author: Kryptonews

US Senator Cynthia Lummis said the confirmation of Michelle “Miki” Bowman as Vice Chair for Supervision at the Federal Reserve marks a critical shift in the regulatory approach toward digital assets.According to Lummis, the appointment is a “turning point” for crypto policy, and she expects a “brighter future” for the industry ahead.The Senate confirmed Bowman on June 5 in a narrow 48-46 vote, filling the vacancy left by Michael Barr’s departure in February.Bowman, who has served as a Fed Governor since 2018, will now oversee the central bank’s supervisory framework for major financial institutions and emerging technologies.Lummis said in a…

Non-fungible token (NFT) artist Jonathan Mann, the musician behind the “Song A Day” project, has turned his crypto tax ordeal into a cautionary musical tale. In a new track shared on X, Mann recounted how he made $3 million selling his entire back catalog as NFTs, only to see it vanish as the market crashed during the Terra ecosystem collapse. “This is the story of how I made three million dollars and lost it,” Mann sings. “And how I owed the IRS more money than I made in 10 previous years.” Source: Jonathan MannMusician owed $1.1 million in taxes on NFT salesMann…

Bitcoin, the pioneering cryptocurrency, offers a compelling alternative to traditional payment methods thanks to its intrinsic properties of enhanced privacy and robust security. While not inherently anonymous, Bitcoin transactions can be leveraged to significantly improve user privacy. Combined with advanced security protocols, Bitcoin payments are increasingly attractive for consumers seeking greater control over their financial information and protection against fraud. Understanding Bitcoin Payment Privacy Contrary to popular belief, Bitcoin transactions are not entirely anonymous. They operate on a public, distributed ledger known as the blockchain. Every transaction is recorded and permanently linked to a Bitcoin address. However, this doesn’t automatically…

Kraken and Binance are among the world’s most established cryptocurrency exchanges, offering various products and services for cryptocurrency traders. To determine which platform provides a better overall choice that will benefit you, this head-to-head Kraken vs. Binance comparison guide will help you decide which exchange will serve your crypto trading and investment needs most. This in-depth Binance vs. Kraken review will break down security, trading fees, user experience, and trading options of each platform to help guide your decision. Kraken vs. Binance: OverviewFeatureKrakenBinanceYear Established  20212017HeadquartersSan FranciscoUnknownSupported CryptocurrenciesOver 300Over 500Trading fees0.25% Maker / 0.4% Taker0.1% for maker and taker fees.Payment MethodsCrypto and bank transfers,…

Is Bitcoin Poised to Become a Global Reserve Asset? The concept of Bitcoin (BTC) as a global reserve asset, once relegated to the fringes of financial discourse, is increasingly gaining traction. While hurdles remain, the decentralized nature, limited supply, and growing adoption of Bitcoin are fueling this debate. Currently, central banks primarily hold reserve currencies like the US dollar, Euro, and Japanese Yen. Could Bitcoin eventually join this exclusive club, or even displace some of these traditional giants? Let’s explore the possibilities and challenges. The Appeal of Bitcoin as a Reserve Asset Several factors contribute to the burgeoning interest in…

The Disruptive Power of Blockchain Middlemen have long played a crucial role in various industries—from finance and supply chain management to real estate and entertainment—acting as intermediaries between producers and consumers. However, blockchain technology is disrupting these traditional roles, and many middlemen are growing anxious about their relevance in a decentralized economy. But should consumers and businesses share this fear? The answer is no—here’s why. Why Middlemen Fear Blockchain Blockchain technology operates on a decentralized, peer-to-peer network, allowing transactions to occur directly without intermediaries. This transparency and efficiency threaten the business models of middlemen, who thrive on fees, commissions, and…

Today’s episode is sponsored by Kraken Pro.Today’s featured story is an opinion piece from Dmitry Gooshchin, titled: “Crypto’s Path Forward Could Follow the Financial World’s Departure From LIBOR.”From our sponsors:Meet the all-new Kraken Pro. The powerful, customizable, beautiful way to trade crypto.It’s Kraken’s most powerful trading platform ever – packed with trading features like advanced order management and analytics tools — all in a redesigned, modular trading interface.Head to pro.kraken.com and trade like a pro.Not investment advice. Some crypto products and markets are unregulated. The unpredictable nature of the cryptoasset markets can lead to loss of funds and profits may be subject to capital…

Spot Ethereum (ETH) exchange-traded funds (ETFs) notched a 14-session streak of net inflows as of June 5, fueled by investment advisors and hedge fund managers.According to Bloomberg data shared by ETF Store CEO Nate Geraci, Ethereum ETFs since May 20 added roughly $812 million. This movement resulted in total net inflows of over $3 billion for the first time, according to Farside Investors’ data, on May 30.Accelerating demandThe uninterrupted inflows began with the session on May 16, when ETH’s price got stuck between $2,650 and $2,500. Meanwhile, May 22 marked the inflow record during the period, with $110.5 million added to…

Singapore’s latest order for unlicensed crypto firms to stop serving overseas customers marks the beginning of the end for regulatory loopholes in the blockchain industry.The May 30 directive from the Monetary Authority of Singapore (MAS) tells crypto firms and individuals offering services abroad to get licensed or get out.To some in the industry, it may look like Singapore is suddenly turning away from its crypto-friendly stance. But in reality, the city-state has remained consistent in its push for compliance. The move aligns with a global crackdown aimed at money laundering and terrorism financing.“For exchanges still playing regulatory pinball — constantly…

This article provides practical advice on securing your Bitcoin held within wallet applications. Losing access to your Bitcoin due to security breaches can be devastating, so understanding and implementing these tips is crucial for responsible ownership. Choosing the Right Wallet App The very first step towards securing your Bitcoin is selecting a reputable and secure wallet. Consider the following factors: Security Features: Look for wallets that offer features like two-factor authentication (2FA), multi-signature capabilities (multi-sig), and biometric access. Reputation and Reviews: Research the app’s reputation. Read reviews from other users and see what security audits, if any, have been performed.…