FameEX Morning Crypto News Recap | March 22, 2024

Bitcoin Miners Near Surpassing February's Earnings Before Facing Two Upcoming Difficulty Changes

As Bitcoin's halving event draws closer, with under 4,300 blocks remaining, miners face a critical period with two impending difficulty adjustments. With the month concluding in just ten days, miners' current earnings are poised to exceed their total February income, marking a significant moment in the lead-up to the network's milestone event.

Initiative by Greens to Remove German Tax Exemption on Cryptocurrency Triggers Debate

The debate over cryptocurrency taxation heats up in Germany, with the Green party's parliamentary group, Alliance90/The Greens, pushing to scrap a favorable tax exemption on crypto investments. They claim the current policy, which allows tax-free crypto holdings after a year, is unfair and are campaigning for its abolition, arguing for more equitable tax regulations.

Estonian Authorities Enact Bill to Regulate Providers of Cryptocurrency Services

The Estonian government has passed legislation to regulate cryptocurrency service providers, ensuring compliance with EU's Crypto Asset Market (MiCA) standards. Under this law, the Financial Supervisory Authority (FSA) will oversee the providers, starting to issue licenses in 2025. Existing holders of FIU licenses will need to obtain an FSA license by the end of 2025 to continue their operations.

Reddit Valued at $6.5 Billion, Closely Linked to Cryptocurrency Sector

Reddit launched its IPO on Thursday, with shares starting at $47, significantly up from the initial $34 pricing on Wednesday. This opening pegged Reddit's market value at approximately $6.5 billion. The platform is deeply entrenched in the cryptocurrency world, evidenced by the prominence of its r/Cryptocurrency and r/Bitcoin forums, which are ranked within the top 100 subforums.

Third Antitrust Lawsuit Filed Against Apple by U.S. Department of Justice

The U.S. Department of Justice has filed its third antitrust lawsuit against Apple in 14 years, alleging the company has engaged in anti-competitive actions. These include hindering 'super' apps and cross-platform messaging, stifling mobile cloud streaming services, and limiting third-party digital wallets and smartwatches, highlighting increased legal oversight of Apple's practices in the marketplace.

Historic Longest Streak of Red Signals in U.S. Bond Market

Since early July 2022, the U.S. bond market has shown its longest-ever recession warning with the inversion of 2-year and 10-year Treasury yield curves, despite no evident signs of economic contraction in the U.S. economy, indicating a historical alert for possible downturns.

Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FameEX's official view.​