POKKET: Crypto Market Update (July 31)
Bitcoin is +4.5% to $41700, ETH is +2% to $2450. Movers are POWR +42%, LINK +17%, RLC +16%, YFII +14%, PUNDIX +13%, no standouts on the downside.
It is looking more likely congress is going to pass the $550B infrastructure bill that threatens to kill the crypto industry by including an amendment to crypto tax collection. If the bill is passed as-is, the provision for crypto tax expands the definition of a broker to tax purposes to cover “any person who is responsible for and regularly provides and services effectuating transfers of digital assets”, meaning literally anyone involved in the space, including miners, forcing them all to KYC users.
Gary V has just spent 1600 ETH, about $3.7M, on a CryptoPunk NFT, the fourth highest price paid for one.
Check out today’s interest rates at POKKET and earn interest on your crypto with our crypto savings account.