Bitcoin’s value slid below the $30,000 mark as the Securities and Exchange Commission (SEC) signals an impending block on spot Bitcoin exchange-traded funds (ETFs), according to a report by the Wall Street Journal. This development comes amidst a flurry of spot ETF applications by numerous asset managers seeking broader market access to the cryptocurrency. Quick The post Bitcoin breaks below $30k as WSJ reports SEC will block spot Bitcoin ETFs again appeared first on CryptoSlate.

Accounting service leaders in the UK have disputed HMRC’s proposed taxation framework for decentralized finance (DeFi) transactions, labeling it as “not fit for purpose.” In a letter sent to HMRC, the UK’s tax authority, written by experts, including tax calculation software provider Recap and chartered accountants, Wright Vigar highlights the need for a more nuanced The post Tax experts challenge HMRC’s proposed tax framework as ‘Not fit for purpose’ appeared first on CryptoSlate.

OpenAI‘s ChatGPT now offers plugins that can help users identify potential crypto honeypots, providing an additional layer of security in the volatile crypto market. As highlighted by Dynamo DeFi, the Smarter Contracts plugin allows users to analyze smart contracts through the ChatGPT interface. OpenAI states that this tool analyzes smart contracts and tokens on the The post Using ChatGPT to spot crypto honeypots, scam contracts, and other red flags appeared first on CryptoSlate.

According to data from Glassnode, Bitcoin‘s Over-The-Counter (OTC) holdings, an often-overlooked aspect of cryptocurrency trading, have surged to their highest level in the past year, with inflows consistently outpacing outflows since May 2023. Over-The-Counter (OTC) trading denotes the direct exchange of assets like Bitcoin between two parties, bypassing the traditional exchange. This off-exchange trading happens The post Bitcoin OTC desks see highest holdings in a year as inflows rise appeared first on CryptoSlate.

This article is the final part of a three-part series. We suggest reading parts one and two for context. As The Wall Street Journal highlighted in a recent article, Coinbase’s argument around their successful IPO presents a “novel” defense in court. As most of us are aware, when Coinbase went public, it had already listed several The post Op-ed: Why the SEC should stay away from crypto (Part III) appeared first on CryptoSlate.