Ulord(UT)

The two main factors for this are believed to be increased scrutiny, blacklisting, and increased attention from law enforcement.

In a persistently restless market, traders increasingly turn to alternative options to stabilize their portfolios. Greater regulatory scrutiny from the United Kingdom has brought about market unrest as the UK looks to introduce legislation treating crypto like gambling. However, analysts have discovered a unique combination of digital assets that promise potential returns amidst the chaos: […]

From time to time, rumors surface that Grand Theft Auto 6 will integrate cryptocurrency, fueling expectations that the franchise may make its way to Web3.

The trader stands out because all their profits are realized, and they do not hold any bags.

Cryptocurrency trading has soared in popularity throughout the past couple of years as the industry itself is venturing into the mainstream. The field saw an influx of both retail and institutional entities, which prompted a considerable increase in the total market capitalization. And while the past few months have been significantly slower in terms of […]

The legal tussle between Ripple and the Securities and Exchange Commission (SEC) takes a new turn as web3 lawyers and digital asset users scrutinize a new revelation concerning the case.  Pro-XRP lawyer John Deaton has stated that a small footnote that he discovered in Ripple’s brief could play a key role in determining the merits […]

Bitcoin (BTC) now trades above $26,000 after the Feds vote to raise the interest rate to the highest point in 16 years but signals a pause for future hikes.  BTC trades hands at $26,737 at the time of writing after falling on May 2. The slight rally comes after the Federal Reserve hikes interest rates […]

Cryptocurrencies evolve daily, owing to the rapid transformation of the digital space. As Tokens emerge, some do so with exciting features for the modern world. At the heart of these transformations is DigiToads&ndash;a platform that is set to revolutionize how people interact with meme coins. The stake-to-earn feature and play-to-earn are all standouts of DigiToads, which will provide opportunities for investors as the platform takes new steps towards its launch. Step Into the World of TOADS The core of the coin is the new web3 which promises an immersive online experience. Indeed, DigiToads enables interactions in the web-3 using its native coin TOADS. The coin is critical to NFT staking, and the P2E feature is set to become central to DigiToads' growth. Users will collect more NFTs in the metaverse, nature them in interactive gaming, and finally use them to battle other players within the DigiToads ecosystem for more prizes. While in the competitive state of gaming, NFT owners will have the opportunity to maximize their character&rsquo;s strengths by spending more TOADS. In doing so, they increase their chances of winning, and at the same time create a prize pool key in rewarding other potential investors wanting to put their money in DigiToads. Deflationary Economics Memecoins combine a series of ways to sustain their existence for a long time. DigiToads has a thought-out plan that combines interactive gaming and prize pools to keep people invested in TOADS. So far, the strategy has enabled a pre-funding revenue of about $4.25 million. Indeed, as the token price continues to grow, it will need other strategies to keep up with the competition, and that is where deflationary tokenomics comes in. The economy of DigiToads works to limit the supply of TOADS over time to make them scarce, hence more valuable. So far, at the presale price of $0.036, TOADS&rsquo; early adopters are up by over 170%. This strategy means that early participants who went in at a low price point have the potential to reap enormous benefits when the coin becomes a big hit as it gains traction. A noteworthy aspect is the massive discounts that set the entry price even lower. A Financial Sound Model Some scary bits of the crypto world unfolded in 2022. Notable names in the crypto ecosystem experienced turbulent periods that posed a danger to their existence. Such events are likely in the financial markets and are more common due to outside factors beyond the control of crypto platforms. However, the DigiToads ecosystem has been designed to help prevent such catastrophes. The treasury oversees every element of the coin. It works by looking at viable investments to pursue by maintaining a working liquidity pool. The pool benefits from multiple stakes from play to earn and a percentage of the profits derived by the sale of TOADS. While the model seems normal by crypto standards, it takes motivation from the remarkable presale DigiToads has had so far. The quick adoption of TOADS by the public and crypto fanatics is enough confidence that the treasury will step in whenever required. >> Buy DigiToads Now << The Dynamic Crypto Landscape DigiToads launch comes amidst a multitude of contentions trying to take the attention of investors seeking to take positions in the bustling crypto market. However, in 2023, DigiToads is at the top of other newer coins vying for attention. Its multi-use case, that is, existing as a utility coin that will power the future internet&ndash;web3&ndash;and the ability to appeal as a meme-coin is what makes it a strong contender. Pure meme coins depend on FOMO to have credibility in the markets. While this model is impressive, it often loses steam after a while. DigiToads can ride on this too while clinging to its NFT staking features, play-to-earn, and its initiatives towards the environment to have a stronger position to take on future challenges that threaten the crypto market. Bottom Line Meme coins have existed for a while, and their popularity as memes has been a root for their rise. The multi-case for DigiToads makes it ripe for investors, as it provides the best of both. The current pre-sale that is ongoing makes it a must-have because of prizes, heavy discounts, and the potential returns once the coin fully launches and the price surges. For more information on DigiToads visit the website, join the presale or join the community for regular updates. Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.

Artificial intelligence (AI) start-ups emerge as the catalysts of change in the fast-growing world of technology. Where innovation is leading the global economy, artificial intelligence (AI) startups emerge as the catalysts of change. However, the path to success for these budding enterprises is often challenging, particularly when securing the necessary funding to fuel their growth. Recognizing this critical need, a groundbreaking initiative called InQubeta (QUBE) has arrived on the scene, poised to revolutionize investment for AI start-ups and redefine the landscape of technological advancement. As a DeFi crypto, InQubeta proposes unique value with a cutting-edge investment strategy to bridge the gap between visionary AI start-ups and eager investors seeking the next big breakthrough. While experts have estimated the global Al market size to hit $1,6 billion by 2030, many savvy investors are already joining the QUBE presale as they consider the coin the best crypto to invest in. Let's discover how InQubeta seeks to revolutionize investment for Al startups. InQubeta (QUBE) Can Become The Major Catalyst For The Emerging AI Start-ups Growth InQubeta is a new crypto project with much attention from investors and AI startups. While built on the ERC20 Ethereum blockchain, the InQubeta platform allows investors to gain unprecedented access to diverse AI startups, each presenting an opportunity to be at the forefront of technological disruption. QUBE is the world's first cryptocurrency that seeks to revolutionize investment for Al start-ups. As such, the platform uses the concept of Non-Fungible Tokens (NFTs) to link investors and Al startups through the NFT marketplace. While investors search through the NFT marketplace for the best NFTs to buy, startups can create and list NFTs representing various rewards and or equity in their company. The NFTs create mutual benefits to help startups raise funds and offer a unique and lucrative opportunity for investors simultaneously. With its fractional investment opportunity, InQubeta could be the best crypto to invest in 2023 as it allows investors to own a share of any AI startup within the ecosystem. Investors can purchase the NFTs they choose with the ERC20 QUBE token, the in-house currency. This is to ensure seamless, secure, and transparent transactions in the InQubeta ecosystem. With the opportunities and growth trajectory of AI technology, InQubeta could be the best crypto for beginners and experts who want to invest in the future of AI start-ups. Visit InQubeta Presale InQubeta (QUBE) Thrilled Investors With Exceptional Opportunities Aside from its innovative investment strategy, InQubeta also allows investors to earn residual income. By joining the InQubeta staking pool, investors can leverage DeFi crypto to generate a sustainable income flow. 5% of the buy and sell tax generated from transactions is sent to the reward pool to form a reward for investors in the staking pool. With the adoption of deflationary traits, QUBE is seen among investors as a promising crypto investment. This is tied to the reason that the platform pushes 2% of the buy and sell tax to the burn wallet to create a scarcity of QUBE tokens with the hope of increasing its value over time. With the ERC20 QUBE token, InQubeta allows for an inclusive governance system that supports an efficient, transparent, decentralized authority in the InQubeta ecosystem. With this, QUBE can be seen as the best crypto for beginners and experienced investors alike, as every token holder can contribute their voice to the platform's growth. Final Thoughts As the world witnesses the rapid advancement of AI technology, InQubeta stands poised to make a profound impact. By revolutionizing the investment landscape for AI start-ups, QUBE offers a gateway to a future where disruptive ideas become transformative realities. Of course, with the estimation of a $1.6 billion AI market size, QUBE stands as a crypto that can generate massive revenue for investors. While currently on its presale, investors can purchase QUBE tokens at an affordable rate and gain access to the NFT marketplace to browse for the best NTFS to buy. While InQubeta catalyzes AI start-ups' growth, join investors now to make the change. Join InQubeta Communities Keywords: InQubeta, QUBE, DeFi crypto, best crypto to invest in, ERC20, best NFTs, credible crypto, best crypto for beginners Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.

Shiba Inu (SHIB), the significant meme token, has been making waves in the market since its launch, with its market cap going from $1M to $1B in only 279 days. However, as this rapid growth subsequently fell, one project currently in Stage 2 of its presale - Tradecurve (TCRV) could replicate this movement as it brings innovation, long-term growth potential and solves many problems the current online trading industry faces. Today, we will look at both of these projects and see how they compare. >>BUY TCRV TOKENS NOW<< Shiba Inu (SHIB) - incredible $1B market cap journey Shiba Inu (SHIB) was first released in August 2020. Within a year of its introduction, Shiba Inu had a market valuation of $1B. Amazingly, Shiba Inu grew from a market valuation of $1B in just 279 days. Shiba Inu became a well-known topic of conversation during this time as many notable celebrities, such as Ice-T and Antonio Brown, started backing this project. Notably, Shiba Inu outperformed Dogecoin (DOGE) in popularity and received wide acclaim in the second half of 2021. As a result, the Shiba Inu community is still strong to this day. Currently, Shiba Inu has a value of $0.000008442 with a market cap of $4.9B, which is a decrease of 2.18% in the last day alone. Shiba Inu looks to have a bright future as many experts predict that its community will soon be the key to Shiba Inu jumping to $0.00001. Tradecurve (TCRV) - what&rsquo;s in store for its market cap growth? Tradecurve has become a crypto sensation in the last few weeks as its presale has attracted countless individuals in hopes of long-term gains. This project could transform into a fan-favorite trading platform for millions of traders worldwide. It will introduce the first-ever private trading environment offering all derivatives on a single account with no KYC checks or FIAT payments. Not only that, Tradecurve will stand out as one of the few trading platforms that allows cryptocurrency to be used as collateral and for deposits. Users can create an account using their email, connect a crypto wallet to the account, and make one deposit. Tradecurve will also offer high leverage starting at 500:1, automated trading & artificial intelligence (AI) bots, the possibility to enroll in a metaverse trading academy, and more. At the core of this platform and its expansive ecosystem will lie its utility token, TCRV, which will give holders access to various VIP statuses, discounts on subscription fees, passive income via staking, and governance voting rights. In Stage 2 of its presale, one TCRV currently has a value of only $0.012. According to an IMARC impactful insights report, the value of the world foreign currency market was $753.2B in 2022. If Tradecurve taps into just 1% of this rising market, it could generate millions causing its market cap to grow. Currently, the Tradecurve market cap sits at $21.6M as there is a 1.8B TCRV token supply. This market cap could reach $1B fast as experts are bullish about this project, with some claiming it could see a value rise of 50x during its presale and 100x after its launch and subsequent Tier-1 CEX listing. Since the market cap is so low, Tradecurve has all the potential to skyrocket after its launch and replicate the movement of Shiba Inu, with its market cap growing to $1B within one year or even sooner. For more information about the Tradecurve presale: Click Here For Website Click Here To Buy TCRV Presale Tokens Follow Us Twitter Join Our Community on Telegram Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.

Uniwap (UNI) and Aave (AAVE) have experienced an exponential increase since their launch. However, there has been a recent change in the crypto market so these coins are declining gradually. As a result, Uniswap (UNI) and Aave (AAVE) investors are seeking Uwerx (WERX) tokens; crypto analysts have predicted Uwerx (WERX) to increase above 8,000% by the end of 2022. Why are Uniswap (UNI) and Aave (AAVE) investors shifting to Uwerx tokens? and What makes Uwerx so promising? Uniswap (UNI) investors are seeking for alternative investments Uniswap (UNI) has gained ground since its inception and has generated money for its investors. However, Uniswap (UNI) has been experiencing a sudden drop since June 2022, crashing more than $25,000 billion. This steep decline has caused investors to lose interest in Uniswap (UNI) and seek alternatives in stable crypto investments like Uwerx (WERX). A Uniswap (UNI) token costs about $5.00, which is 80% lower than its peak price. Unfortunately, it may be difficult for Uniswap (UNI) to experience any notable increase for the rest of 2022 as a result of its continuous decrease. Aave (AAVE) investors aren&rsquo;t making an optimal profit Aave (AAVE) runs on the Ethereum blockchain and is used to lend or borrow digital assets directly without any intermediary. Aave (AAVE) has had a good run since its creation. The Aave (AAVE) token is the 44th largest cryptocurrency, with a market value of over $1.09 billion. However, although early Aave (AAVE) investors made a major profit initially, Aave (AAVE) is currently down more than 84% from $666, preventing investors from generating maximal profit. Uwerx (WERX): A risk worth taking? Uwerx is the first of its kind, blockchain based freelance platform that promises to revolutionise the freelance industry. It promises to provide lower fees and focuses on protecting intellectual property rights and transparency. It offers a fair and equal marketplace in comparison to Fiverr and Upwork. Uwerx will secure liquidity for 25 years after presale and has already received approval for its audit from the reputed InterFi Network. The WERX token is billed to see exponential growth in the coming years with predictions peaking at an astronomical $2 a in 2025. Investors have been presented with a unique opportunity and with the presale currently ongoing, it is a chance to get in on the ground floor of a project with a bright and prosperous future ahead. Currently, WERX is being sold for $0.0315 and the purchase bonus is at 20%, however this is likely to fall with the upcoming price increases. Presale: invest.uwerx.network Telegram: https://t.me/uwerx_network Twitter: https://twitter.com/uwerx_network Website: https://www.uwerx.network Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.

Amid the evolving cryptocurrency landscape, Sparklo stands out as a promising market entrant with its innovative concept and strong use case. Unlike Neo(NEO) and Conflux (CFX)), which have faced recent challenges, Sparklo is gaining recognition as an exciting contender ready to make significant strides in the dynamic cryptocurrency market. Sparklo (SPRK): Revolutionizing blockchain investments through premium metals Sparklo sets itself apart as an innovative investment platform on a mission to reshape the way traders interact with esteemed metals like gold, silver and platinum. Opening up exciting investment opportunities. By utilizing advanced blockchain technology, Sparklo creates a user-friendly and efficient trading environment specifically designed for precious metals. With an incredibly low presale price of just $0.026, Sparklo presents a promising investment opportunity. Investors can engage in fractionalized NFT trading, where each token is intrinsically backed by valuable metals. Investors are drawn to Sparklo's transparent network as its smart contract undergoes audits conducted by InterFi. With projected growth potential estimated to be a remarkable 4,000 times, Sparklo has the potential to become one of the top 100 cryptocurrencies. This prospect magnetizes both crypto enthusiasts and investors, generating significant interest in the platform. >>>> BUY TOKENS <<< Conflux (CFX) recent partnerships push its price up slightly New strategic alliances with TaskOn and Port3 Network have increased Conflux's (CFX) network's potential. Furthermore, Conflux (CFX) is enhancing its DeFi functionality through upcoming projects such as vSwap, Rime Finance, Mold Finance and Flux Fire. These developments have garnered positive feedback from the Conflux community and have had a favorable impact on the Conflux (CFX) price. Currently trading at $0.29, the token has experienced a 1.91% increase in the last 24 hours, accompanied by a 22.31% rise in trading volume since yesterday. Conflux (CFX) is currently at a support level of $0.25; if it breaks this level, it could result in a price decline to $0.14. Neo (NEO) price pushed up as the network recently announced its support for AI Neo (NEO) price experienced an upward drift on Monday, rising to $9.72, surpassing the weekend low of $8.67. The reason behind this increase in a low-volume environment remains unclear. However, Neo's (NEO) involvement in the rapidly growing field of artificial intelligence (AI) may have contributed to the price rise. Neo (NEO) recently announced the winners of its NeoChat ChatGPT launch competition, highlighting its investments in AI. According to CoinMarketCap, Neo (NEO) trading volume in the past 24 hours exceeded $87 million, slightly above the 7-day moving average. Despite this jump, Neo (NEO) price remains significantly lower than its year-to-date high of $15.68. Holders of Neo (NEO) are now recognizing the promising opportunities Sparklo presents. Find out about the Sparklo presale using the links below Buy Presale: https://invest.sparklo.finance Website: https://sparklo.finance Twitter: https://twitter.com/sparklo_finance Telegram: https://t.me/sparklofinance Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.

The third quarter of this year holds great promise for the crypto market as several tokens are poised to make a significant impact. Among them, Polkadot, Cosmos, and Caged Beasts (BEASTS) stand out with their unique advantages and potential for explosive growth. Let's delve into the advantages of these tokens and why they deserve your attention. Polkadot: Unleashing Interoperability and Scalability Polkadot (DOT) stands out in the crypto market by offering unparalleled interoperability and scalability. Its core technology, known as the Polkadot Relay Chain, enables different blockchains to communicate and share information securely. This revolutionary feature allows for seamless interaction between chains, fostering collaboration and enabling the transfer of assets and data across various networks. With Polkadot's interoperability, developers can build decentralized applications that leverage the strengths of multiple blockchains, leading to enhanced functionality and efficiency. Additionally, Polkadot's scalable architecture ensures that as the network grows, it can handle increased transaction volumes without compromising performance. Cosmos: Empowering A Connected Blockchain Ecosystem Cosmos (ATOM) takes a unique approach to blockchain by creating an interconnected ecosystem. It achieves this through the Cosmos Hub, a central hub that connects multiple independent blockchains, known as zones, through the Inter-Blockchain Communication (IBC) protocol. This innovative solution allows for seamless communication and interoperability between different blockchains, enabling the transfer of assets and data across the network. Cosmos' modular architecture and developer-friendly tools make it easy for developers to create and customize their own blockchains within the ecosystem. By empowering a connected blockchain ecosystem, Cosmos opens up new possibilities for cross-chain applications, decentralized finance (DeFi), and decentralized exchanges (DEXs), driving innovation and fostering collaboration among blockchain projects. Caged Beasts: Embracing Community, Transparency, And Growth Caged Beasts (BEASTS) stands out in the meme coin realm with its strong focus on community, transparency, and growth. This token prioritizes engaging its community members through various programs and initiatives. Competitions, bonuses, events, and voting opportunities are just some of the avenues that Caged Beasts provides for its community to participate and earn rewards. By fostering an immersive experience, Caged Beasts aims to create an active and vibrant community that shares a common interest in the token's success. Transparency is another key aspect of Caged Beasts, as the project team provides access to observe locked-up funds, ensuring trust and confidence among investors. Furthermore, Caged Beasts has a clear growth strategy in place, allocating a significant portion of its funds to a marketing wallet. This allocation is aimed at expanding the coin's reach, driving adoption, and establishing a strong presence in the market. With its community-centric approach, transparency, and growth-oriented mindset, Caged Beasts seeks to differentiate itself and offer a compelling investment opportunity in the meme coin space. Conclusion As we enter the third quarter of the year, the crypto market is primed for explosive growth, and tokens like Polkadot, Cosmos, and Caged Beasts are leading the charge. Polkadot's interoperability, Cosmos' connected blockchain ecosystem, and Caged Beasts' community-centric approach make them compelling choices for investors and developers alike. By leveraging their unique advantages, these tokens are set to redefine the crypto landscape and open up new possibilities for innovation and financial opportunities. Keep a close eye on these tokens as they aim to make waves and shape the future of the crypto world in the coming months. For More On Caged BeastsWebsite: https://cagedbeasts.com Twitter: https://twitter.com/CAGED_BEASTS Telegram: https://t.me/CAGEDBEASTS Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.

As the popularity of cryptocurrencies continues to soar, the world of online gaming has embraced the trend, giving rise to an exciting genre known as crypto casinos. These platforms offer a unique blend of gambling and blockchain technology, allowing users to play and earn digital assets. In this comparative analysis, we delve into some of the top-rated play-to-earn crypto projects: Big Eyes Coin&rsquo;s (BIG) upcoming casino, Decentraland, and The Sandbox. Join us as we explore the safety measures implemented by these platforms, ensuring a secure and enjoyable gaming experience for meme coin lovers and investors seeking meme coins with added utility. Big Eyes Coin's Casino &mdash; Unleashing its Power as a Top-Rated P2E Crypto Project Big Eyes Coin, inspired by popular meme coins like Dogecoin and Shiba Inu, has set its sights on revolutionizing the crypto gaming landscape. The forthcoming casino promises an immersive play-to-earn (P2E) experience, allowing users to both enjoy games and earn valuable tokens. Through decentralized governance and smart contract technology, Big Eyes Coin ensures transparency and fairness in its gaming ecosystem. Players will have access to over 4,000 P2E games when buying Big Eyes Coin. By prioritizing security and user empowerment, Big Eyes Coin's casino aims to become a leading player in the crypto gaming industry. Decentraland - Building a Virtual Metaverse Decentraland, one of the pioneers in the crypto gaming space, has captured the imagination of users worldwide with its virtual metaverse. Powered by blockchain technology, Decentraland offers a user-owned, decentralized virtual world where players can explore, interact, and monetize their creations. In terms of security, Decentraland implements robust cryptographic protocols to protect user identities and assets. Additionally, smart contracts govern the platform, ensuring the integrity of in-game transactions and preventing fraud. With a strong emphasis on decentralization and security, Decentraland has established itself as a prominent player in the crypto-gaming realm. The Sandbox - Empowering Creators in a Virtual Universe The Sandbox introduces a unique blend of gaming and creativity, allowing users to build, own, and monetize their virtual experiences within its blockchain-based metaverse. To ensure the security of user assets, The Sandbox employs non-fungible tokens (NFTs) and blockchain technology, providing users with verifiable ownership and protection against unauthorized modifications. The platform also features a robust marketplace for trading virtual assets, where security measures are in place to prevent fraudulent transactions. By empowering creators and prioritizing security, The Sandbox has carved a niche for itself in the crypto gaming landscape. In Conclusion&hellip; In this comparative analysis of crypto gaming platforms, we have explored the security features of some of the top-rated play-to-earn crypto projects. Each platform exhibits a solid commitment to user safety and data protection, employing cutting-edge technologies such as blockchain, smart contracts, and encryption protocols. As meme coin lovers and investors seeking meme coins with utility, it is essential to choose a platform that prioritizes security while offering an engaging play-to-earn experience. Whether you prefer the P2E approach of Big Eyes Coin's casino, the immersive metaverse of Decentraland, or the creative freedom of The Sandbox, it is evident that the crypto gaming industry is evolving rapidly, providing users with exciting opportunities to participate in the digital revolution. To learn more about Big Eyes Coin's presale and immerse yourself in the world of crypto gaming, visit our presale website and join the community today. Big Eyes Coin (BIG) Presale: https://buy.bigeyes.space/ Website: https://bigeyes.space/ Telegram: https://t.me/BIGEYESOFFICIAL Instagram: https://www.instagram.com/BigEyesCoin/ Twitter: https://twitter.com/BigEyesCoin Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.

[PRESS RELEASE – Singapore, Singapore, May 26th, 2023] Huobi announced the launch of Huobi HK and stated that they will provide cryptocurrency trading services to users in HK. Huobi HK will play a significant role in driving Hong Kong towards becoming the global hub for Web3. In the future, users will be able to buy, […]

US Senator Cynthia Lummis has pushed back against the Biden Administration&rsquo;s proposal to tax cryptocurrency miners, stating that the administration is picking &ldquo;winners and losers.&rdquo; Bitcoin mining is a very polarizing subject in the United States of America and has drawn considerable ire from the Biden administration. A Harsh Tax Regime Bitcoin mining has often drawn harsh criticism from governments thanks to its high energy consumption. In the latest example, the Joe Biden administration has outlined plans to impose harsh taxes on Bitcoin mining. According to reports, the tax in question is called the Digital Asset Mining Energy Excise Tax (DAME). It was proposed by the administration in its budget for the fiscal year 2024. Under the proposal, cryptocurrency mining firms would have to pay a tax equal to 30% of the cost of electricity consumed. The tax would come into effect next year and be gradually phased in over a period of three years at a fixed rate of 10% per year until it reaches the targeted 30% by the end of 2026. Significant Pushback The proposal has been subject to furious pushback from prominent members of the cryptocurrency community, who have argued that the administration&rsquo;s priorities are misplaced. However, prominent faces from the crypto community are not the only ones critical of the proposal. Robert F. Kennedy Jr, United States presidential candidate, has also roundly criticized the bill, calling it a &ldquo;bad idea.&rdquo; According to recent statements, Kennedy has chosen to publicly align himself with the Bitcoin community. Another prominent voice against the proposal is that of Senator Cynthia Lummis, who has been vocal in her criticism of the bill. Lummis first spoke against the bill at the Bitcoin 2023 conference, telling the audience in attendance that the tax would not happen. She later tweeted about the conference and reiterated her opposition to the proposal, arguing that she would not let the government kill the crypto industry with taxes and oppose the proposal in Congress. &ldquo;America must welcome innovation, and digital assets are the future of financial innovation. A 30% tax hike on any specific industry is a blatant attempt by the administration to pick winners and losers. I will not let President Biden tax the digital asset industry out of existence.&rdquo; Cryptocurrency regulation and taxation has become a significant talking point in the US budget. Apart from the proposed 30% tax on crypto mining activities, the Biden government has also stated that it wants to eliminate tax loopholes for wealthy crypto traders. President Biden&rsquo;s comments have understandably sparked confusion within crypto circles. However, experts believe that he referred to a dearth of wash trading rules, allowing traders to engage in tax-loss harvesting. If the proposal is passed, it could lead to miners moving to other jurisdictions and putting significant uncertainty over the crypto industry in the United States in the face of growing regulatory pressure. Responsible Innovation Act To Be Reintroduced Senator Lumis, along with Democratic Senator Gillibrand of New York, has stated that there are plans to reintroduce the Responsible Innovations Act with some amendments, such as adding in greater customer protections. The bill was originally introduced last year and takes a comprehensive approach to regulating the crypto industry in the United States of America. Lummis and Gillibrand are working with the House Financial Services Committee Chair Patrick T. McHenry, R-N.C., and Maxine Waters, D-Calif, with the group working to break the bill into different committees and get it passed. Lummis stated at the Bitcoin 2023 conference, &ldquo;What we&rsquo;re apt to see is for the House to move a stablecoin bill first, then you&rsquo;ll probably see the introduction of Lummis Gillibrand in the Senate, which will remain comprehensive.&rdquo; Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

As the cryptocurrency arena grows increasingly volatile, previous high performers Aave (AAVE) and XRP (XRP) find themselves stuck in a rut, their former prowess diminishing in the face of barnstormers like TMS Network (TMSN), a new DEX beguiling investors with its rock-solid foundations. Aave (AAVE): Losing Its Footing in the DeFi Marathon? Aave (AAVE), once […]

The executive appears to have now recovered his account.

Diluted net loss per American depositary share in Q1 2023 stood at $0.51 from $0.55 in the previous quarter.

In a May 18, 2023 press release, the New York Fed and the Monetary Authority of Singapore (MAS) published the results of a research study, known as Project Cedar Phase II x Ubin+. Project Cedar is a Federal Reserve Bank of New York’s New York Innovation Center initiative that seeks to develop a technical framework […]

According to a May 23, 2023 media release, the International Organization of Securities Commissions (IOSCO) issued global recommendations to jurisdictions on the regulation of crypto and digital asset markets. IOSCO has requested comments on its recommendations through public consultation by July 31, 2023. ‘Retail access, suitability, and distribution’ of crypto assets is one of the […]

Prominent blockchain-based payment solutions company, Ripple, is contemplating making strategic acquisitions in crypto-friendly countries in a bid to expand its business model.

DeFi saw another multimillion-dollar rug pull this past week, and the Multichain saga continues to spiral out of control.

The world of crypto is ever-changing, with the emergence of ChatGPT transforming the way traders conduct research and analysis. The analytical prowess of ChatGPT has allowed traders to gain insights into the future price trajectories of cryptos like Bitcoin and Ethereum – adding a valuable tool to their trading toolkit. But it’s not just about […]