Saturday, September 18 2021

Cryptocurrency Market Cap Cryptocurrencies returned to the lowest $ 2 trillion mark last May, but further gains were blocked by potential new tax reporting requirements in the United States.

The value of the more than 8,800 cryptocurrencies monitored by CoinGecko has risen 55% from its lowest level in July at $ 1.95 trillion in high bitcoin and ether prices.

According to the Crypto Exchange Luno, the rise of Bitcoin was halted by oversight of virtual currencies in an infrastructure bill passed by the Senate.

For his part, Vijay May, head of Luno for Asia-Pacific in Singapore, said that “the rise of Bitcoin has been stopped by the draft budget”, which now provides $ 45,000 to $ 47,000 on “Bloomberg “And” Al “.

The cryptocurrency industry’s failure to change tax reporting rules – which is expected to increase revenue by around $ 28 billion – despite activists’ great motivation.

Esmi Pav, analyst at China Tongai Securities in Hong Kong, said, “Some people see control as too much of a burden. In my opinion, short term pain, long term gain.

The $ 610 million cryptocurrency theft highlights current security risks, even as hackers return half of the funds.

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