Both traditional and digital payment forms have strong and weak points. But statistics insists that cash remains more popular with population.
Coinbase Legal Chief Grewal has explained Tornado Cash’s recent filing against the Treasury Department’s case in support of privacy.
The US Treasury is seeking expansion of its powers to stop any kind of illicit crypto funding as well as monitoring the crypto exchanges.
While supporting efforts to combat criminal misuse, Coinbase argued that the proposed regulations, as they stand, do not strike the right balance.
Amid the uptick in the bond yields, the Fed is less likely to continue with future rate hikes. This might lead to loosening of liquidity in the market thereby driving S&P 500 higher.
Amid sticky inflation, Fed Chair Jerome Powell said that they would approach the monetary policy very cautiously. Analysts expect only two rate cuts instead of four, in 2024.
The United States Government Accountability Office (GAO) warns that “limits on third party information reporting to the IRS is an important factor contributing to the tax gap, which is the difference between taxes legally owed and taxes actually paid”.
The inflation and jobs data will play a crucial role in further market movements.
The initiative will be funded through the Inflation Reduction Act, which approved $80 billion over ten years for the IRS.
Before releasing the latest ratings, Fitch had initially warned about a possible downgrade during US debt ceiling negotiations a few months ago.
Circle’s reserve fund opted to rotate all its holdings into tri-party repos involving systemically important banks like Goldman Sachs, BNP Paribas, Bank of America, and Royal Bank of Canada.