CRYPTO

Authored by Nik Hoffman via Bitcoin Magazine.com,

Congressman Matt Gaetz (R-FL) has introduced legislation to allow federal income tax payments to be made in Bitcoin.

Exclusively reported first by the Daily Wire, this bill aims to amend the Internal Revenue Code of 1986, instructing the Treasury Secretary to develop a plan for accepting Bitcoin.

According to Gaetz, his proposal aims to modernize the tax payment process by allowing federal income tax to be paid with BTC. (more…)

By Marcel Kasumovich, Deputy CIO, Coinbase Asset Management

Passive investing seems to be dominating the crypto markets, evidenced by significant inflows into exchange-traded products (ETPs). But is it? Institutional engagement has skyrocketed, signaling that crypto is entering the US regulatory mainstream. This has led to a thriving landscape for active management, poised for rapid growth. But the signs are subtle. Exploring volumes and market dispersion reveals a thirst for higher (more…)

Bitcoin prices plunged overnight after now-defunct Bitcoin exchange Mt. Gox said it would begin distributing assets stolen from clients in a 2014 hack starting in July, after years of postponed deadlines.

The statement sent BTC down to a $60,000 handle as market participants fear the release – after ten years – of the proceeds will lead to an imminent sell-off in BTC and BCH…

Source: Bloomberg

…its lowest in six weeks…

(more…)