Bitcoin Price to Rally Higher as President Trump Signs $900 Billion Stimulus Bill

Bitcoin Price to Rally Higher as President Trump Signs $900 Billion Stimulus Bill

United States President Donald Trump signed the $900 billion pandemic relief bill on Sunday night, effectively adding to the mountain of Federal Reserve debt which could be a further catalyst for the Bitcoin (BTC) price to continue its sensational rally. Bitcoin’s weekend price rally saw the cryptocurrency surge to a new all-time high of $28,387 before a slight correction which saw BTC close the week nearly 12 percent higher. As Bitcoin now moves sideways under the $27,000 resistance and begins to show signs of fatigue, the President signing off on the new $900 billion dollar stimulus could reignite its upward momentum. While

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Biden's Administration "Will Ultimately Be Supportive" of Bitcoin

Biden’s Administration “Will Ultimately Be Supportive” of Bitcoin, says Circle CEO

Jeremy Allaire, the Co-Founder, and Chief Executive Officer of Circle, the blockchain firm behind the USDC Stablecoin has given his opinion on his expectations of the Biden administration in relation to providing the right regulations to support Bitcoin. Speaking in an interview on CNBC Squawk Box, Jeremy said that he believes the Biden era will likely be more friendly to digital currencies and their inherent opportunities. When asked by the host of the program whether he thinks the incoming administration will be positively predisposed to cryptocurrencies or if he thinks the entire space will be tightly regulated, Jeremy answered by saying: “They will

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The OCC is Focused on "Not Killing" Bitcoin and Crypto says Acting Comptroller Brian Brooks

The OCC is Focused on “Not Killing” Bitcoin and Crypto says Acting Comptroller Brian Brooks

The newly nominated Comptroller of the United States Office of the Comptroller of the Currency (OCC), Brian Brooks has affirmed that the agency is not planning any ban or to place any stringent regulation on Bitcoin and cryptocurrencies. The OCC Has Good Plans For Bitcoin Asked by Melissa Lee on CNBC Squawk Box, the former Chief Legal Officer at Coinbase cryptocurrency exchange quelled rumors making the rounds about regulation or a ban on Bitcoin and cryptocurrencies. In response Brooks said; “We’re very focused on getting this right. We are very focused on not killing this, and it is equally important that we develop the networks behind

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US Lawmakers Want STABLE Act to Force Stablecoin Issuers to Secure Bank Charters

US Lawmakers Want STABLE Act to Force Stablecoin Issuers to Secure Bank Charters

US lawmakers have introduced a new bill to Congress which seeks to impose federal control over the entire stablecoin industry and would mandate token issuers to secure bank charters. United States Representatives Rashida Tlaib (D-Mich.), Jesús “Chuy” García (D-Ill.) and Stephen Lynch (D-Mass.) introduced the Stablecoin Tethering and Bank Licensing Enforcement (STABLE) Act on Wednesday, Dec. 2. The new US congressional bill would require stablecoin issuers to secure federal approval and secure bank charters in order to circulate their tokens. The official release cites the need to regulate stablecoins and cites Facebook’s Libra project as its main example. Unrelated, the Facebook Libra

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What Would Happen if Ripple's XRP Token Was Classified as a Security Under US Crypto Regulations?

What Would Happen if Ripple’s XRP Token Was Classified as a Security Under US Crypto Regulations?

Amid Ripple (XRP) token’s recent price surge that made headlines everywhere, whether the cryptocurrency and technology firm will stay in the US despite the lack of clear regulations still remains in question.   Ripple’s XRP: ideal for cross-border payments A class-action lawsuit had previously been filed against US-based tech firm Ripple under allegations that its XRP token is considered a security in the country. However, in a podcast with Bitcoin bull Anthony Pompliano, Brad Garlinghouse, the CEO of Ripple, broached the subject once again, clarifying that it is only the US that views XRP as a security. In comparison with other

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Joe Biden Considers Crypto-Friendly Former CFTC Chair Gary Gensler For Deputy Treasury Secretary

Joe Biden Considers Crypto-Friendly Former CFTC Chair Gary Gensler For Deputy Treasury Secretary

President-elect Joe Biden is considering Gary Gensler, the former Commodity Futures Trading Commission chairman, to become Deputy Treasury Secretary. Gensler has a crypto-friendly history and notably defined Bitcoin as a catalyst for change while his colleagues dismissed the cryptocurrency as a Ponzi Scheme. Biden’s transition team is fast being filled with alumni from key federal agencies to prepare policies and staff for the new administration. President-elect Joe Biden is currently considering Gary Gensler, former Commodity Futures Trading Commission Chairman (CFTC) under Obama, to be the Deputy Treasury Secretary.  Gensler’s selection to rein in Wall Street is set to bear fruits because he

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US Treasury Official says IRS is Assessing Models for Crypto Tax Reporting Rules

US Treasury Official says IRS is Assessing Models for Crypto Tax Reporting Rules

The United States Internal Revenue Service (IRS) is developing domestic reporting rules for cryptocurrency taxation—assessing the pros and cons of different crypto tax models, according to a Treasury Department official on Thursday. According to Senior Counsel for the Treasury Department’s Office of Tax Policy, Erika Nijenhaus at a blockchain-focused OECD event on Nov.19—the IRS faces a choice between a risk-focused approach to crypto taxation, similar to the international Common Reporting Standard, and another approach focuses on tax liabilities. As reported by Bloomberg Law, speaking at the OECD’s 2020 Global Blockchain Policy Forum, Nijenhaus said: “None of those are easy questions […] There

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Twitter and Facebook Grilled in Senate Hearing Over Social Media Censorship of US Presidential Election

Twitter and Facebook Grilled in Senate Hearing Over Social Media Censorship of US Presidential Election

Facebook and Twitter are facing heat from US Congress for how they handled political misinformation circulating on social media platforms during the 2020 US presidential elections. In a congressional hearing with the US Judiciary Committee, Facebook Chief Mark Zuckerberg and Twitter’s CEO Jack Dorsey were called to testify virtually for the way political posts were handled on the platforms during the presidential campaign opposing Donald Trump and Joe Biden. Numerous political posts were flagged on both Facebook and Twitter as misinformation and taken down on numerous occasions, much to the fury of political leaders. The US Judiciary Committee vehemently declared

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Thailand SEC Revises its Net Capital Rules In Favor of Crypto Backed Firms

Thailand SEC Revises its Net Capital Rules In Favor of Crypto Backed Firms

Thailand’s Securities and Exchange Commission has made an upward review of its Net Capital requirement for securities firms and derivatives brokers, a move that is set to benefit blockchain and cryptocurrency firms in the country. As reported by The Bangkok Post, the move by the SEC will help to serve the growing volumes on the Stock Exchange of Thailand (SET) and Thailand Futures Exchanges (TFEX), and digital asset (cryptocurrency) brokers in the country. “To support the rising trading volume, the SEC revised its net capital (NC) rules for securities and derivative brokers to increase liquidity management in case of emergencies and adjust the risk

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