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The IRS plans to expand reporting expectations for crypto brokers, including exchanges, to meet the needs of President Joe Biden’s budget.

The post The US Treasury wants to expand crypto reporting to fight offshore tax evasion appeared first on The Block.

JPMorgan CEO Jamie Dimon’s views on bitcoin haven’t changed much over the past few years. Dimon still thinks one shouldn’t invest in bitcoin.

The post JPMorgan CEO Jamie Dimon says he would still advise people to stay away from bitcoin appeared first on The Block.

Crypto startup Circle has raised $440 million in a new funding round.

The post After $440 million fundraise, Circle is said to be considering a SPAC deal appeared first on The Block.

The West Midlands Police expected to uncover a cannabis farm, but instead found 100 computers comprising a bitcoin mining rig stealing power.

The post UK police bust illegal bitcoin mine while hunting for cannabis grow operation appeared first on The Block.

Quick Take

• During the period starting from May 12th, many DeFi tokens dropped 70%+ in prices. The Block’s DeFi index dropped from 914% to 416% in 1-year performance.
• Unlike in March 2020, when there was a similar drop in prices, many of the largest DeFi protocols performed better thanks to increased liquidity and scalability.
• DeFi protocols have highly reflexive valuations — i.e. P/S ratios and other metrics can look better when prices are increasing — because the primary use case is speculation on the success of crypto.

The widely circulated news about Dubai’s own cryptocurrency, dubbed DubaiCoin, is a scam, the Dubai government has said.

The post DubaiCoin news is a scam, says the Dubai government appeared first on The Block.

Decentralized exchange BurgerSwap suffered a $7.2 million exploit because it lacked an important line of code.

The post Missing line of code leads to $7.2 million exploit of DEX BurgerSwap appeared first on The Block.

The economic secretary to the Treasury said that many crypto startups have failed to meet anti-money laundering (AML) standards.

The post Treasury official: A “significant number” of crypto firms fall short of AML standards appeared first on The Block.

WisdomTree is the second to file for an ether-based ETF, following VanEck’s submission earlier this month.

The post WisdomTree becomes the second to file for an ETH ETF with the SEC appeared first on The Block.

Bank of Korea Governor Lee Ju-yeol has said that leveraged crypto trading threatens the country’s banking and financial system.

The post Leveraged crypto trading threatens banking system, says Korea central bank governor appeared first on The Block.