US Treasury Affirms Crypto Miners, Wallets & Others Exempt From IRS Reporting Rules – February 14

πŸ“ˆ 30 Second Cryptocurrency Price Summary

Current Bitcoin Price:Β $42,601

Bitcoin price has started the week in the $42,000 range, only slightly below where it left off Friday.

Top-20 altcoins appear very stable over the last 24 hours, as Ethereum gains 2%, BNB rises 1%, but Coin is the largest mover with a 6% drop.

Top Stories for February 14, 2022 πŸ”₯

πŸ‘‰ US Treasury Affirms Crypto Miners, Wallets & Others Exempt From IRS Reporting Rules

The US Treasury has clarified that cryptocurrency miners, wallet operators and certain other parties are exempt from particular tax reporting rules.

Under the rule of concern, “cryptocurrency brokers” would have to share data on clients’ addresses and transactions with the IRS. The Treasury’s exemption covers “crypto validators” and those offering “services related to hardware or software crypto wallets”.

πŸ‘‰ BlockFi To Register Product With SEC Following $100M Settlement

Crypto financial services platform BlockFi says it will file a registration statement with the SEC for a new cryptocurrency lending product, called BlockFi Yield.

The move comes after a $100 million settlement with the SEC, as a result of allegations that BlockFi Interest Accounts were in fact an unregistered security.

πŸ‘‰ Cryptocurrency Apps Spike In Popularity Following Super Bowl Campaigns

Cryptocurrency mobile apps have spiked in popularity following Super Bowl ad campaigns from multiple crypto-related companies, according to The Block.

Coinbase in particular jumped from 186th place to second place in the App Store following Coinbase’s minute-long Super Bowl ad, which used a QR code and a large giveaway to attract new users.