The daily crypto news reporting is a jungle and can lead to many headlines being missed because of the clutter. These are some that may have slipped you by.
The Cryptocurrency Market Received a Boost
For the first time since the month of May, the value of the full cryptocurrency market rose above $2 trillion. Spikes in the price of Ethereum, Dogecoin and Cardano had a positive effect but the biggest boost came from the fact that BTC reached $48,000.
No Amendment to Crypto Tax Provision
The U.S. Senate passed a new $1 trillion infrastructure bill. However, due to a disagreement regarding the language in cryptocurrency tax reporting, the bill was passed without any amendment.
One of the issues crypto advocates are having comes down to the vague definition of a “broker”. At the moment, the definition says “ any person who (for consideration) is responsible for regularly providing any service effectuating transfers of digital assets on behalf of another person”.
The House needs to be in agreement with the Senate for the bill to pass but if they vote for an amendment, the bill will go around once more for another vote.
There is a chance that the U.S. Treasury Department may be able to clarify the definition without having to make an amendment.
Hacker Stole $600 Million for Fun and Returned It
Poly Network was the victim of a major hacker attack last week which resulted in $600 million being stolen. Luckily, this particular hacker was one of the nicer ones and actually returned the money, claiming he did it for fun looking to teach them a lesson.
Considering hackers don’t normally return their loot, this one even explained why by leaving a comment.
“That’s always the plan! I am _not_ very interested in money! I know it hurts when people are attacked, but shouldn’t they learn something from those hacks?”
Whether or not a lesson learned remains to be seen.
Walmart Makes Moves Towards Becoming Crypto Friendly
Someone who can own and drive the company’s digital currency strategy is now a high priority for retail giant Walmart. So, if you feel you have a grip on it and want to be the one taking Walmart into the future, there is a job just for you.