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Cryptocurrency Articles

NFT Regulations For US Owners

Non-Fungible Tokens (NFTs) have been attracting owners from all areas of life since the crypto boom in 2021. Having started as digital art, now their uses expand across industries such as music, sports, fashion, events,...

Investing in Cryptocurrencies: Advantages and Disadvantages

In the United States alone, approximately 145 million people (56% of the adult population) own or have ever owned crypto. Approximately 107 million of these people have purchased it for the first time in the...

Tornado Cash, Privacy and Safety

Tornado Cash has been a trending subject in crypto news and social media for the past month, but what does it mean? Here, we will discuss this smart contract service, as well as its national...

Crypto Wallets: Hot Vs. Cold

It might seem hard to invest in cryptocurrencies at first. After all, it is a new technologycompared to fiat money and traditional stock investments. However, once you know how itworks, not only is it easy...

The Crypto Winter Completely Froze the Celsius Network

Celsius Network said last month that withdrawals, swaps, and transfers between accounts on its networkwill be halted, owing to “extreme market circumstances.” Then last week, Celsius had a coldwave of layoffs, spawning a liquidity crisis....

Is Stablecoin Actually Stable?

In simple terms, stablecoin is a digital cryptocurrency that was designed to have solidity instead of volatility like traditional cryptocurrencies, such as bitcoin or dogecoin. Stablecoin maintains its value by being tied to another real-world...

Will Web3 Change the Accounting Industry?

No matter what industry you work in, there is some level of accounting required to keep track of your income, expenses, and other financial matters. Emerging technologies like web3 and cryptocurrency, and financial transactions outside...

U.S. Officials Seize $3.6 Billion in Bitcoin from Bitfinex Hack

In early February 2022, the Justice Department announced that it had seized more than $3.6 billion worth of Bitcoin allegedly stolen by a New York couple six years ago. The couple, Ilya Lichtenstein and Heather...

Tax Implications of Cryptocurrency Mining

Question Presented Is cryptocurrency mining similar to mineral mining where recognition of income does not occur until the miner disposes of the mineral in an exchange? Statement of Facts In mineral mining, recognition of income...

Is SEC Proposal Really a ‘Trojan Horse’ for Regulating Crypto Sector?

While major cryptocurrencies rebounded after a volatile week, Securities Exchange Commission (SEC) watchdogs continue to push for regulating the crypto sector. Last week, the SEC unveiled a 654-page plan aimed at regulating “treasury markets platforms”....

White House Planning Executive Action to Regulate Cryptocurrencies

The Biden Administration is planning an executive action to allow federal agencies to regulate the crypto sector. Should the government regulate a decentralized market?

A Deep Dive into the Federal Reserve Report “Money and Payments: The U.S. Dollar in the Age of Digital Transformation”

Technological advances in recent years have led to a growing number of payment options and digital currencies. As consumers embrace innovative technologies, policymakers must consider their role, and the possibility of more broad changes. One...