The cryptoindustry is dissatisfied with the initiative of the US authorities, and the expert noted “some enthusiasm in the market”

Crypto enthusiasts are unhappy with US plans for expanded taxation of digital currencies

Jack Dorsey criticized the plans of the US authorities to introduce an extended taxation regime for digital currencies in the country. The founder of Twitter and Square is confident that the legislative initiative in its current form will hinder the development of innovations.

“Forcing reporting rules on Americans who develop software and hardware, who mine and secure the network, or who run nodes to build resilience and efficiencies, is an impossible ask that will only drive development and operation of this critical technology outside the US, ” the entrepreneur said.

Dorsey believes that the definition of “broker” within the industry should be narrowed down to platforms where cryptocurrencies are exchanged for fiat.

Earlier, the creator of Coinbase Brian Armstrong called the situation related to the plans of the American authorities, “determining our future”, and the amendment — “a disaster.” He was joined by Tesla founder Elon Musk, who pointed out the absence of objective circumstances, because of which it would be worth adopting such hasty bills.

The expert said about “some kind of enthusiasm in the crypto market”

The price of the main cryptocurrency yesterday, August 8, for the first time since mid-May, rose above $45,000. Bitcoin is up 33% over the past month and 15% over the past seven days, according to data from Coinmarketcap.

According to Nikita Soshnikov, head of the Alfacash cryptocurrency exchanger, the prerequisite for the growth of the digital asset market was not only the increased price of BTC, but also the successful London hard fork on the ETH network. The expert is confident that the advancement of Ethereum to protocol 2.0 allowed the altcoin to grow to $ 3'112.

“I see an improvement in the emotional component, some kind of enthusiasm in the crypto market. Its participants are tired of the prolonged stagnation and the decline in quotations and are now showing an appetite for growth,” Soshnikov noted.

Alchemy Pay service to release cryptocurrency virtual card

Alchemy Pay, the solution provider for Binance’s payment app, will release a virtual card with support for over 40 digital currencies. The card will be valid in all places where Visa and Mastercard are accepted.

The company stressed that the owners of the virtual card will be able to link it to the Google Pay and PayPal wallets. Users will also be able to shop on platforms such as Amazon and eBay.

The service has already launched beta testing of the project. At the end of 2021, or at the beginning of 2022, the developers want to present the map to the general public.

--

--

--

www.bestchange.com

Love podcasts or audiobooks? Learn on the go with our new app.

Recommended from Medium

A SYNOPSIS ON ASTROZEN: THE COLLECTION OF ASTROZEN NFTs

How Wallstreet sharks broke the Terra StableCoin (UST) and what to learn from it

NFT market / Cryptocurrencies / Techfaktory

Bitcoin anonymity is just a big myth

A graphic featuring a person giving a robot bitcoin.

Everything you need to know about $COV (Covesting) — The Tokenomics and Theoretical Value Analysis

Why Peter Schiff Might Be Wrong About Bitcoin

What will happen to the cryptocurrency market next? Forecasts

ShibAnthem : The one for all Shiba Inu is a Cryptocurrency on the Ethereum network.

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
BestChange

BestChange

www.bestchange.com

More from Medium

Safest Crypto Exchanges for Traders in 2022

Crypto Exchange Vault

Regulatory Progress

Akon’s Akoin, based on Stellar (XLM), will digitize medical access in Rwanda

Why Is Crypto Crashing Right Now?