INVESTING.COM | Published on 2022-06-29 | 13 minutes ago
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FINANCEMAGNETS | Published on 2022-06-29 | 22 minutes ago

The financial market supervisor of Italy, Consob, has continued its crackdown on unauthorized financial services platforms and blacklisted six new such names, according to an announcement on Tuesday. The names of the blacklisted platforms are Lilac Group LLC, MB Invest, BTCoin Group, Levelprofit, and Alphafxprime. These platforms are offering trading services with counterparty contracts. The instruments include forex, cryptocurrencies, and also other asset classes. None of these trading platforms are authorized by the Italian regulator, and there are high chances of them being scams. Moreover, at least one of the recently blacklisted platforms is falsely claiming to be authorized by CONSOB. Access to all these platforms will also be blocked by the internet service providers within Italy. This will prevent anyone in the country from accessing these likely fraudulent financial services platforms, at least with the usual means. The Growing List of Illegal Platforms Consob is one of the most vigilant European financial market watchdogs. It received additional powers in July 2019 to take strict action actions against the fraudulent financial services platforms. To date, the Italian regulator blacklisted a total of 731 such financial services platforms that were providing services illegally in the country. However, the Italian supervisor is not the only watchdog to issue warnings and take action against unauthorized platforms. Two French regulators, the AMF and ACPR, recently added 20 more illegal forex trading services providers to their blacklist. The regulator of Cyprus, which is oversee a jurisdiction favored by financial services firms, is also vigilant toward illegal platforms and is actively flagging unauthorized platforms. This article was written by Arnab Shome at www.financemagnates.com.
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LIVE BITCOIN NEWS | Published on 2022-06-29 | 25 minutes ago

Bitcoin price started a fresh decline below the $22,000 zone against the US Dollar. The price is now trading below $21,000 and the 55 simple moving average (4-hours). There is a major bearish trend line forming with resistance near $21,000 on the 4-hours chart of the BTC/USD pair (data feed from Coinbase). The pair could continue to move down if it stays below the $22,000 pivot zone. Bitcoin price is struggling below $22,000 against the US Dollar. BTC might extend losses if it stays below the $21,000 and $22,000 resistance levels. Bitcoin Price Analysis Bitcoin price started a major decline below the $23,000 support zone. There was a sharp bearish wave and the price even declined below the $21,000 support zone. The bears pushed the price below the $19,500 level and the 55 simple moving average (4-hours). It even broke the $18,000 support. A low was formed near $17,568 and the price started an upside correction. There was a move above the $20,000 resistance zone. The price cleared the 23.6% Fib retracement level of the main decline from the $31,550 swing high to $17,568 low. However, the bears were active near the $22,000 zone. An immediate resistance on the upside is near the $21,000 level and the 55 simple moving average (4-hours). There is also a major bearish trend line forming with resistance near $21,000 on the 4-hours chart of the BTC/USD pair. The first major resistance is near the $21,700 level. The next major resistance on the upside is near the $22,000 level, above which the price could rise towards the 50% Fib retracement level of the main decline from the $31,550 swing high to $17,568 low. If there is no upside break, the price might start a fresh decline below $20,000. The next key support is near the $18,500 level. Any more losses might call for a move towards the $17,500 support zone. Bitcoin Price Looking at the chart, bitcoin price is clearly trading below $21,000 and the 55 simple moving average (4-hours). Overall, the price could continue to move down if it stays below the $22,000 pivot zone. Technical Indicators 4 hours MACD – The MACD is now gaining momentum in the bearish zone. 4 hours RSI (Relative Strength Index) – The RSI is now below the 50 level. Key Support Levels – $20,000 and $18,500. Key Resistance Levels – $21,000, $22,000 and $23,000. The post Bitcoin Price Analysis: BTC Faces Uphill Task Near $21K appeared first on Live Bitcoin News.
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COINNOUNCE | Published on 2022-06-29 | 25 minutes ago

The popular play-to-earn (P2E) NFT game Axie Infinity’s makers, Sky Mavis, have revealed that the Ronin bridge is now operational again, three months after it was compromised for more than $600 million. Users can move assets between the sidechain and the Ethereum mainnet using the Ronin bridge, an Ethereum sidechain created for Axie Infinity. The […]
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NEWS BTC | Published on 2022-06-29 | 26 minutes ago

Ethereum declined below the $1,150 zone against the US Dollar. ETH is now at a risk of more losses if it stays below the key $1,200 pivot zone. Ethereum started a fresh decline below the $1,220 and $1,200 levels. The price is now trading below $1,200 and the 100 hourly simple moving average. There is a connecting trend line in place with support at $1,130 on the hourly chart of ETH/USD (data feed via Kraken). The pair could decline further is a clear move below the $1,120 support zone. Ethereum Price Remains At Risk Ethereum remained in a bearish zone below the $1,280 and $1,250 resistance levels. ETH started a fresh decline and traded below the key $1,200 support zone. The decline gained pace below the $1,180 level and the 100 hourly simple moving average. As a result, the bears were able to push the price below the $1,150 support. A low is formed near $1,132 and the price is now consolidating losses. Ether is now trading well below $1,200 and the 100 hourly simple moving average. There is also a connecting trend line in place with support at $1,130 on the hourly chart of ETH/USD. An immediate resistance on the upside is near the $1,155 level. It is near the 23.6% Fib retracement level of the recent decline from the $1,235 swing high to $1,132 low. The next major resistance is near the $1,175 zone. The first major hurdle is near the $1,180 level and the 100 hourly simple moving average. The 50% Fib retracement level of the recent decline from the $1,235 swing high to $1,132 low is also near $1,180. A close above the $1,180 resistance zone could start a steady increase. In the stated case, the price could clear the $1,200 resistance. Source: ETHUSD on TradingView.com The next major resistance is near the $1,235 level, above which the price could even rise towards the $1,280 resistance level in the near term. More Losses in ETH? If ethereum fails to rise above the $1,180 resistance, it could continue to move down. An initial support on the downside is near the $1,120 zone. The next major support is near the $1,080 zone. A close below the $1,080 level might spark a sharp decline. In the stated case, ether price may perhaps decline towards the $1,000 level. Technical Indicators Hourly MACD – The MACD for ETH/USD is now gaining momentum in the bearish zone. Hourly RSI – The RSI for ETH/USD is now well below the 50 level. Major Support Level – $1,120 Major Resistance Level – $1,180
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COINTELEGRAPH | Published on 2022-06-29 | 27 minutes ago

The DAO intends to generate yield with its native DAI stablecoin via traditional investments in US treasuries and possibly even corporate bonds.
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INVESTING.COM | Published on 2022-06-29 | 33 minutes ago
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INVESTING.COM | Published on 2022-06-29 | 53 minutes ago
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BITCOIN.COM | Published on 2022-06-29 | 54 minutes ago

PRESS RELEASE. With crypto markets down around 50% in the past month and over 70% from their highs in late 2021, many crypto investors are searching for answers after their profits from the last few years have evaporated into the ether. Following the incredible bull market, crypto investors enjoyed over 2020 and 2021; you may now find yourself nursing losses rather than gains ahead of the upcoming tax season. Crypto tax platform Koinly shares 5 little-known tax hacks you need to know after the crypto crash. 1. Pay less tax by holding Want to avoid paying tax on crypto? While you can’t dodge your tax obligations entirely – there are quite a few ways you can optimize your tax position. But here’s the catch, you’ll need to do it before the end of the financial year to pay less tax overall. You’ve probably heard it before, but the easiest way to pay less crypto tax is to simply HODL. In many jurisdictions, holding your crypto investment (or other assets like shares) for longer than one year qualifies any gains as long-term capital gains. Depending on where you live, any crypto sold 12 months after purchasing is: Tax-free in Germany Discounts capital gains tax by 50% in Australia Taxed at lower tax rates of 0%, 15% or 20% in the US, depending on individual income over the year 2. Tax-free gains Tax-free thresholds on your capital gains can help you automatically owe less tax. In the UK, individuals have a CGT allowance of up to £12,300 before paying tax. Germany has a relatively low threshold of €600, while Australians have no such allowance. If you’re in the US, the IRS states any individual’s income under $40,400 pays no Capital Gains Tax. Knowing the tax-free maximum for capital assets in your country is a great way to help determine your crypto disposal strategy, so make sure you understand how crypto is taxed wherever you are. Offset your gains with losses via tax-loss harvesting Tax-loss harvesting allows you to claim capital losses by recognising and selling your assets at a capital loss. These capital losses may be carried forward against future capital gains and even over multiple financial years. For example, if you made $10,000 after buying and selling Bitcoin but lost $10,000 after selling your Ether, you won’t owe any tax since you broke even. This also works if you’ve had a good year in share trading, you can offset those gains with crypto losses. However, if you have an unrealized loss and do not crystallize it by selling before the end of the current financial year, you won’t be able to take advantage of this capital loss until next year’s tax return. Be careful of wash sales rules which prohibit selling assets at a loss to create an artificial loss this financial year, then immediately repurchasing them. To avoid this, you can swap one crypto for another cryptocurrency or sell and buy a different cryptocurrency (sell ETH for USDC and then buy BTC). Track your crypto to spot opportunities Tax offices, including the IRS, HMRC and ATO, demand investors keep detailed records over at least 3-5 years. With shares, this may be easy, but in crypto, with dozens of different wallets, hundreds of blockchains, multiple exchanges, DeFi protocols and NFT platforms, it can be a headache come tax time. Using crypto tax software like Koinly not only helps you file your crypto taxes in half the time, but it can also help you track your unrealised gains and losses for each asset throughout the financial year. 5. Pick the best cost basis method When calculating your crypto taxes – the cost basis method you use matters. It dictates which of your assets you’ve sold and how much your subsequent capital gain or loss is. First in, first-out (FIFO) tends to produce the highest gains but may lower your tax bill if a long-term CGT discount applies in your country. Alternatively, last in, last out (LIFO) usually produces the lowest gains but may increase the tax rate you pay due to paying short-term CGT. Koinly supports both of the above cost basis methods (and more) – so check out your settings to see which accounting method could produce the lowest tax liability. Talking to an accountant about your crypto taxes can be helpful for you to navigate any confusion and ensure you’re doing the right thing while still optimizing your taxes. About Koinly: Koinly calculates your crypto taxes for you, catering to investors and traders at all levels. Whether it’s Crypto, DeFi or NFTs, the platform helps you save valuable time by reconciling your holdings to generate a compliant tax report in under 20 minutes. Sign up today and see how much you owe!   This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.
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COINNOUNCE | Published on 2022-06-29 | 1 hour ago

Elon Musk is a passionate advocate of Dogecoin. Using his platform and reputation, Musk has greatly contributed to DOGE’s rise to $0.70 in early 2021 before starting to drop. Still, Elon Musk did not hesitate to support Dogecoin and was extremely open about it. The “Dogefather” recently explained why he invested in the meme coin […]
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