Bitcoin for America Act: US Lawmaker Seeks BTC Tax Option With 20-Year Treasury Rules

Federal prosecutors have secured a conviction against the founder of a cryptocurrency mining operation for his involvement in a multimillion-dollar fraud scheme. The U.S. Attorney’s Office in Texas announced the verdict, highlighting the case's significance in combating financial crimes within the cryptocurrency sector.

VanEck reports that the recent downturn in Bitcoin prices is primarily driven by mid-cycle wallets, while long-term holders, known as whales, continue to accumulate. The analysis indicates that the market is experiencing washed-out conditions, with futures data reflecting this trend.

Ripio, a cryptocurrency exchange, has announced the establishment of a $100 million crypto treasury, making it the second largest in Latin America. The treasury includes holdings in bitcoin and ether, which have been managed through trading and hedging strategies since 2017.

Spot SOL exchange-traded funds (ETFs) have continued their inflow streak since launching on October 28, marking the second-largest inflows for November. In contrast, Bitcoin and Ether ETFs have faced significant outflows, totaling hundreds of millions of dollars during the same period.

The SEC is advancing Bitwise's cryptocurrency ETF proposal, which includes XRP and Solana as key components. This move reflects a growing acceptance of cryptocurrencies in traditional finance, as the SEC's approval could pave the way for more institutional investment in these digital assets. The positive sentiment surrounding XRP and Solana indicates their resilience in a fluctuating market.

The New Hampshire Business Finance Authority has initiated steps towards a potential $100 million private-sector bitcoin bond. This marks the state's first effort to integrate cryptocurrency into municipal financing, potentially reshaping funding strategies.