As cryptocurrencies, stablecoins, and non-fungible tokens (NFTs) grow in popularity, the IRS is trying to keep up by tightening tax regulations on cryptocurrencies. Considering the complexity and ongoing nature of the digital asset space, the IRS recently announced the appointment of two private sector experts, Raj Mukherjee and Wilks, to its Civil Service team. These actions signal the IRS’s commitment to strengthening compliance, enforcement, reporting, and services related to cryptocurrencies. The inclusion of Mukherjee and Wilks on the IRS team is both a simple personnel operation and a strategic improvement in IRS digital asset capabilities. The individual brings knowledge of…
Author: Crypto Flexs
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Innovative DeeStream (DST) has become the latest company to stake a claim in the cryptocurrency space by securing one of Shiba Inu’s (SHIB) majority shareholders. DeeStream (DST) is launching a project with Tron (TRX), which many investors already own because they see growth. But now DeeStream (DST) is introducing something new with its decentralized video streaming platform. We provide the latest information on Shiba Inu (SHIB), Tron (TRX), and DeeStream (DST), detailing what each of them has been able to achieve in the rapidly changing blockchain ecosystem landscape. Shiba Inu (SHIB): Riding the wave of market momentum Shiba Inu (SHIB)…
Binance Earn marks a new milestone in user rewards by confirming support for the upcoming PIXEL airdrop targeting users holding RONIN-locked products. In a significant development for cryptocurrency enthusiasts and investors, Binance Earn has officially announced support for the Pixels (PIXEL) airdrop for eligible users of its RONIN locked product. This move represents Binance’s ongoing efforts to reward its user base and foster the growth of the digital asset ecosystem. Snapshot and deployment details PIXEL airdrops are structured to reward users based on their total RONIN-locked product subscription amount at the time of the snapshot. The snapshot, which is important…
A closely watched trader in the cryptocurrency space says Dogecoin (DOGE) is likely to see significant gains once a proper bull market begins. A pseudonymous trader known as Altcoin Sherpa tells his 209,000 followers on social media platform “It’s not a very creative or fast trade, but DOGE will ultimately outperform tremendously this cycle. Although it doesn’t perform as well as other memes considering its market capitalization (MC), you can make 4x your money by buying and selling it at gigapumps. “Buy now, go into a coma, and then sell when the moon rises.” source: Altcoin Sherpa/X According to a…
The UK is tightening its grip on cryptocurrencies, giving law enforcement new powers to fight cryptocurrency-related crime. This is part of the recently implemented Economic Crimes and Corporate Transparency Act 2023, which provides authorities with unprecedented tools to prevent the misuse of cryptocurrencies in illegal activities. Enhanced Enforcement: Crypto Asset Freezing, Seizure, and Destruction The bill would give law enforcement the power to freeze digital assets associated with suspected criminal activity without a conviction. This marks a significant change in the UK’s approach, allowing the UK to act quickly to prevent further criminal activity and secure potential evidence. Additionally, the…
With Bitcoin reaching record highs amid rising cash exchange-traded fund inflows, analysts at research and brokerage firm Bernstein expect a “big bang” DeFi recovery to come next.While the Bitcoin rally can be attributed to spot ETFs, the broader market recovery following Bitcoin’s all-time high of around $69,000 is expected to be led by the DeFi niche. This accounts for 6 of the 10 most revenue-generating protocols. On the cryptocurrency front, Bernstein analysts Gautam Chhugani and Mahika Sapra wrote a note on Monday.Analysts claimed that the DeFi sector was “completely wiped out” during the last cycle, playing an unsustainable yield game…
Cardano (ADA) founder Charles Hoskinson has stepped forward to address the recent controversy surrounding Nami, a wallet acquired by the protocol. Amid speculation and uncertainty, Hoskinson revealed some surprising facts about Nami’s capabilities. Hoskinson digs deeper, illuminating the complex issues plaguing Nami’s ADAHandles implementation and promising insights into strategic solutions for Cardano. that famous, “I’m quickly learning about Nami. We formed a weekend team to investigate issues related to Nami’s ADAHandles implementation.” fundamental problem To provide clarity, Hoskinson described a scenario where a user enters a handle from $NFT to $NFT and there is a delay in updating the destination…
PLX token price rose 250% through the pre-sale phase. The pre-sale has ended and the tokens are now waiting to be listed on cryptocurrency exchanges. The first exchanges to list PLX are expected to be BitMart and Uniswap thereafter. Pullix, an innovative DeFi protocol, has successfully completed its pre-sale phase, marking a significant milestone in its journey to revolutionize the cryptocurrency trading landscape. This pre-sale, which attracted a lot of attention from investors, now clears the way for Pullix’s native token, PLX, to be listed on the cryptocurrency exchange, which is listed on Uniswap starting today. Pullix: A pioneering hybrid…
Amid privacy concerns, South Korea’s Personal Information Protection Commission has launched an investigation into Worldcoin’s data collection practices. The Personal Information Protection Commission (PIPC) has launched an official investigation into cryptocurrency project World Coin (WLD) due to concerns about its data collection methods, including the collection of iris information. The Commission detailed its course of action on March 4, 2024, after receiving a series of complaints about the privacy implications of Worldcoin’s operations. Worldcoin has been investigated for collecting biometric data at various locations within South Korea. PIPC’s investigation will focus on compliance with the Personal Data Protection Act, particularly…
Floki Inu (FLOKI), a dog-themed cryptocurrency, has caught the attention of investors, traders, and enthusiasts alike with a notable surge in price. The coin’s value has experienced a rapid rise, surging by more than 50% in the last 24 hours alone. FLOKI records an impressive weekly rise of 336% However, it is the weekly period that really surprised market watchers as FLOKI recorded an impressive rally of 336%. This price surge follows a community-backed proposal to burn 2% of the token supply. The token burn proposal received overwhelming support from the community, with nearly 90% of votes cast in favor…