Georgian central bank to launch AML probe into crypto firms

Georgia, a major cryptocurrency-friendly country among Post-Soviet states, is preparing to start monitoring crypto firms to prevent money laundering and comply with sanctions. The National Bank of Georgia plans to launch mandatory supervision of virtual asset service providers (VASP) starting Sept. 1, 2023. NBG’s acting governor Archil Mestvirishvili said that the new regulatory measures will help the country combat money laundering, the local news agency InterPressNews reported on May 31. In line with Anti-Money Laundering considerations, the upcoming VASP probe is expected to increase the country’s compliance with Western sanctions…

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Does the US have a crypto ‘tax loophole’ problem?

The crypto sector appears to have dodged another bullet. At the time of publication, the United States has reached a political agreement to raise its debt ceiling, avoiding a calamitous default on its obligations, and this resolution probably won’t include any new taxes on cryptocurrencies.  But that doesn’t mean the question of U.S. crypto taxation is settled. The debate is likely to continue and may be transformed into something more partisan than previously assumed. To recap: On May 21, at the Group of Seven (G7) Summit in Hiroshima, Japan, U.S.…

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Top Trader Says Ethereum on Cusp of Breakout Against Bitcoin, Predicts One Surging Altcoin Has More Fuel in Tank – The Daily Hodl

A popular crypto trader is expressing bullish sentiment on Ethereum (ETH) when paired against Bitcoin (BTC). Pseudonymous crypto analyst Bluntz tells his 223,100 Twitter followers that the Ethereum/Bitcoin (ETH/BTC) pair could be on the verge of breaking out. According to Bluntz, Ethereum is likely to rally strongly against Bitcoin if and when the breakout occurs. “ETH/BTC potentially on the cusp of a major breakout. Unsure if it does or not just yet but if it does it will be game time for ETH.” Source: Bluntz/Twitter Based on Bluntz’s attached chart,…

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Last BTC price dip before a $30K breakout? Bitcoin wipes weekend gains

Bitcoin (BTC) returned to a key focal point on June 1 as the monthly close delivered disappointment. BTC/USD 1-day candle chart on Bitstamp. Source: TradingView BTC price “fills” latest CME futures gap Data from Cointelegraph Markets Pro and TradingView confirmed a lackluster end to May for BTC/USD, which slid below $27,000. The pair erased its entire uptick seen over the weekend, coming full circle to act in a familiar range on the day. This centered on the area immediately below $27,000, Bitcoin frequently visiting since the middle of April. CME…

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Is XRP About To Rally? Crypto Analytics Firm Santiment Says One Metric Is Flashing a Historically Bullish Signal – The Daily Hodl

Crypto analytics platform Santiment says that a bullish XRP signal, which preceded a huge rally in March, is once again flashing. The market intelligence firm says that daily XRP address activity is spiking to a level that historically preceded a breakout. According to Santiment, XRP saw its largest address activity spike in its history on March 18th and the token went on a 45% price surge within the following 10 days. “XRP Network has now had its second and third largest address activity spikes of all time these past two…

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‘Not just Bitcoin price’ — Dan Tapiero shares tips on navigating the bear market

While many beginners base their trades on the negativity brought about by devastating events happening within the crypto space, experienced traders base their decisions on different factors and are able to come out on top of others, even in a bear market.  Speaking with Cointelegraph, Dan Tapiero, the founder of growth equity funds 10T Holdings and 1RoundTable Partners, shared some of the most important things that he employs as he navigates the market. This includes having a broader perspective in the space and not being influenced by feelings and people’s…

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