Crypto Industry News & Market Trends

Bitcoin self-custody creates a massive cost-basis blind spot on your 2026 crypto tax forms

A Bitcoin investor can withdraw coins from an exchange, return them to the same account, and still fall outside mandatory cost-basis reporting when those coins are sold.　　Related Asset Bitcoin #1 BTC · $76,862.51 24-hour change: down 0.93% Loading price history… 24H Down 0.93% 7D Down 2.04% 30D Up 22.01%　　For the 2026 US reporting year, the broker can still be required to report sale proceeds, while reporting the acquisition cost remains voluntary.　　Cost basis, the acquisition cost used to calculate a gain, only changes the brokers obligation to supply an ordinary transfer between the investors own accounts. That creates a practical divide between a record showing how much a sale brought in and one that supports the gain calculation.　　The IRSs 2026 Form 1099-DA instructions make that divide explicit. Covered digital assets generally must have been acquired after 2025 in the reporting brokers custodial account and held there until disposal. Assets bought before 2026 or transferred into the broker are noncovered, with basis reporting voluntary.　　The distinction runs through the current reporting year as international reporting develops and blockchain analytics providers offer tax authorities a wider view of activity.　　Three routes, the same gain　　Consider a deliberately simplified hypothetical US investment: 0.1 Bitcoin bought for $5,000

09-15Industry

What's Wrong With Stablecoins？ Ripple CTO Emeritus Schwartz Makes Surprising Admission

XRP Ledgers chief architect and Ripple CTO Emeritus David Schwartz has acknowledged that developers made a fundamental mistake at the dawn of the crypto industry. They misjudged how the world would use the digital dollar.　　The result is a hidden interface crisis that still makes stablecoin payments work incorrectly and remain inconvenient for mainstream users.　　What was the miscalculation？　　“Our thinking at the time was (put into modern terms) every USD stablecoin would use ”USD“ as its currency code and there was no real need for the ledger to support ticker symbols. Wallets could map issuers and currencies to ticker symbols,” Schwartz recalled.　　Developers believed the ledger would not need unique ticker symbols for each coin, and that client wallets would independently determine who issued an asset and how to settle payments.　　In reality, decentralized finance has become critically fragmented. Dozens of major players have emerged in the market, each creating its own isolated “dollar.” Instead of simply sending money, users must constantly navigate abbreviations such as USDT, USDC, and RLUSD, completely breaking the familiar user experience.　　Schwartzs idea: letting users decide which dollar is “real”　　Schwartz proposes looking at the payment system from a different angle and reforming settlement mechanics by separating asset-display logic into two

09-15Industry

Upbit-Naver Deal Faces Regulatory Clash Over Ownership Rules

South Korea‘s proposed crypto ownership rules have raised a potential governance conflict for Naver Financial’s planned acquisition of Upbit operator Dunamu if the company later qualifies as a holding company.　　SummarySouth Korean researchers warn ownership caps could conflict with holding-company minimum shareholding requirements for Upbit.Naver Financials Dunamu share swap is scheduled for December 31 after regulators delayed approvals twice.Fair Trade Act requires holding companies to own 50% of shares in unlisted subsidiaries currently.Financial regulators say no major-shareholder cap for cryptocurrency exchanges has yet been finalized in Korea.Naver Financial plans to acquire 100% of Dunamu through a comprehensive share swap pending approvals.　　Yonhap News Agency reported Sept. 15 that the National Assembly Research Service had examined how a proposed cap on major shareholders of virtual asset exchanges could interact with existing subsidiary ownership requirements under the Fair Trade Act.　　The research service said the two systems could create a structure where one rule sets a minimum shareholding level while another limits how much a major shareholder may own. It stressed, however, that the rules should not be treated as automatically conflicting in every case because their legal purposes and subjects differ. A same-day report summarizing the research noted that the issue could become relevant

09-15Industry

Strategic Bitcoin Reserve bill set for House committee vote Wednesday

The U.S. House Financial Services Committee has scheduled a markup of legislation that would put the federal Strategic Bitcoin Reserve into law and require government-held Bitcoin to remain in the reserve for at least 20 years.　　SummaryThe House Financial Services Committee is set to consider H.R. 8957 on Sept. 16, moving the Strategic Bitcoin Reserve bill toward a committee vote.The bill would require Treasury to establish a Strategic Bitcoin Reserve and a separate stockpile for non Bitcoin digital assets held by the federal government.Bitcoin deposited into the reserve would generally have to remain there for at least 20 years, with quarterly proof of reserve reports required from Treasury.Treasury and Commerce would study budget neutral ways to acquire more Bitcoin without new taxes, borrowing or deficit spending.　　The House Financial Services Committee has set its markup of various measures for Sept. 16 at 10:00 a.m. ET in the Rayburn House Office Building, putting H.R. 8957, the American Reserve Modernization Act of 2026, in position for committee consideration.　　Introduced by Republican Rep. Nick Begich of Alaska in May, the bill has Democratic Rep. Jared Golden of Maine among its cosponsors and would establish two separate structures within the Treasury Department for federal crypto holdings. The

09-15Industry

Binance altcoin inflows hit 31,800 before Fed decision

Binance altcoin inflows have climbed to a seven-day average of roughly 31,800 deposit transactions as crypto markets prepare for the CLARITY Act vote and Wednesdays Federal Reserve decision.　　CryptoQuant analyst Darkfost reported the increase in a Sept. 15 market update, saying Binances seven-day average had risen from approximately 8,300 transactions in July. The latest figure is about 3.8 times the July level.　　The same data showed increased activity at other centralized exchanges, although Binance recorded the largest count. Coinbase rose from roughly 2,200 altcoin inflow transactions to 4,700, while Bybit reached around 2,700, according to Darkfost.　　Binance altcoin inflows approach four times July levels　　The data tracks the number of deposits sent to exchange wallets, not their dollar value. CryptoQuants exchange transactions guide defines inflow transaction count as the total number of deposits made to an exchange. CryptoQuant says an increasing count can show rising participation and exchange activity.　　A high transaction count does not establish that the deposited tokens were subsequently sold. CryptoQuant states that spot-market inflows have historically been associated with increased potential selling activity because assets entering exchange wallets become available for trading. Transaction counts alone do not identify trade direction, deposit size or whether an individual depositor intends to sell.　　Against that

09-15Industry

CLARITY Act gets Democratic counteroffer before vote

Senate Democrats have sent Republicans a CLARITY Act counteroffer hours before the Sept. 15 procedural vote, keeping negotiations open over ethics and other contested provisions.　　Politico congressional reporter Jasper Goodman reported late Monday that Democrats had delivered the counterproposal to Republican negotiators, citing three people familiar with the talks. The full Democratic proposal had not been publicly released as of early Tuesday, leaving its precise requested changes unconfirmed.　　Before the counteroffer was delivered, Sen. Mark Warner said Democrats who had participated in the negotiations were preparing another proposal. Ethics restrictions involving federal officials remained one of the issues under discussion after Republicans released their latest bill text.　　News: Democrats have sent their Clarity Act counterproposal over to GOP negotiators, per 3 people with knowledge of the matter　　CLARITY Act counteroffer keeps ethics talks open　　The Democratic proposal followed a revised Republican CLARITY Act draft released ahead of Tuesdays floor test. Reuters reported that Republican negotiators said the new text incorporates 126 substantive changes requested by Democrats during months of talks.　　The latest version contains revised restrictions on government officials crypto interests, changes affecting stablecoin rewards and protections involving blockchain software developers. Republican negotiators have presented the text as their attempt to resolve enough outstanding disputes to

09-15Industry

Bank of Russia flags crypto and stablecoins as financial market risk

The Bank of Russia has identified cryptocurrency use as a financial market risk, warning that stablecoins and other digital assets could increasingly be used by Russians as substitutes for the national currency.　　The central bank outlined the concerns in its review, “Main Directions for the Development of the Financial Market of the Russian Federation for 2027 and the Period of 2028 and 2029,” where it warned about potential losses for investors and risks tied to crypto activity outside national jurisdictions.　　Bank of Russia sees stablecoins as a risk to the ruble　　The regulator said increased use of digital currencies, particularly stablecoins, could lead households to use privately issued assets in place of the ruble. Investments in cryptocurrencies carry the possibility of a complete loss of invested funds, according to the central bank.　　Unlike traditional financial instruments, what the regulator described as “money surrogates” may lack an obligated counterparty or underlying collateral. Investors could therefore have no party against which to make a claim if the value of an asset collapses.　　Some cryptocurrencies create another area of concern because transactions can take place through decentralized networks while providing varying degrees of anonymity, the central bank said. It linked those characteristics to increased risks of digital currencies

09-15Industry

Coinbase to Drop Eight Crypto Trading Pairs

Coinbase is removing eight cryptocurrency trading pairs as the exchange continues to consolidate liquidity into its more active markets.　　Coinbase Markets announced that trading in ANKR-EUR, BAT-BTC, BAT-ETH, COMP-BTC, FIL-BTC, GRT-BTC, JASMY-USDT and YFI-BTC will be suspended on Sept. 15.　　The exchange said the decision followed its regular review of markets and was intended to “improve overall market health and consolidate liquidity.”　　Ahead of the suspension, all eight order books have already been switched to limit-only mode on Coinbase Exchange and Coinbase Advanced. Traders can still place and cancel limit orders, while market orders are no longer accepted.　　Importantly, Coinbase is not delisting the eight underlying cryptocurrencies.　　ANKR, BAT, COMP, FIL, GRT, JASMY and YFI will remain available through their USD order books for Coinbase Advanced Trade users in eligible regions. The change instead removes individual markets denominated in Bitcoin, Ethereum, Tether and euros.　　BAT is particularly affected by the latest cleanup, with Coinbase dropping both its BAT-BTC and BAT-ETH markets.　　Consolidating liquidity　　The latest move is part of a broader pattern that has emerged on Coinbase this year.　　On Aug. 6, the exchange suspended another six non-USD markets: LSETH-ETH, MINA-EUR, GRT-GBP, MASK-GBP, CHZ-USDT and CRO-USDT.　　Coinbase used essentially the same explanation at the time.　　The Graph is therefore undergoing its

09-15Industry

Chip Stocks Sink on AI Slowdown Calls, But Analysts Doubt a Crash Is Near

Chip stocks extended a rout on Monday, triggered by an AI slowdown call from Anthropic CEO Dario Amodei that sent the Philadelphia Semiconductor Index down as much as 5.9%.　　Nvidia fell 3.4%, Broadcom slid nearly 5%, and Micron and AMD each dropped more than 4%, dragging the Nasdaq 100 down as much as 1.3% and reviving debate over whether AI-linked valuations face a sharper correction.　　AI Slowdown Selloff Reaches Asia　　South Koreas SK Hynix slid roughly 7.6% in sympathy with its US peers, tied to the same AI infrastructure buildout, Seoul Economic Daily reported.　　Sponsored　　Sponsored　　Like its US counterparts, SK Hynix also felt the sting of the AI Safety fears. Image Source: Trading View　　Amodei‘s essay argued the most advanced AI systems risk slipping beyond human control without deliberate restraint. OpenAI’s Sam Altman and xAIs Elon Musk both endorsed the call.　　Is a Crash Actually Coming　　Not every analyst reads this as the start of something bigger. Bank of America semiconductor analyst Vivek Arya called the reaction background noise.　　“We view these events as noise relative to a secular market where AI-capex could surge 3x to $3tn+ by decade-end.”　　Arya noted the chip index still trades near 19 times forward earnings, roughly matching the S&P 500, despite earnings growth running

09-15Industry

CLARITY Act odds fall to 16% as key Democrats resist GOP‘s ’final offer

Odds of the CLARITY Act becoming law this year on Polymarket fell sharply again on Monday after spiking the day before, as key Senate Democrats reportedly said they had not been swayed by Republicans “final” crypto bill proposal.　　Polymarket traders initially saw a newly revised Republican proposal with expanded ethics provisions as a positive sign, sending the odds to 35%. However, their confidence was dashed as reservations about the revised text began mounting, with the odds falling back as low as 16% on Monday.　　US Senator Mark Warner, one of the Democrats involved in negotiations, reportedly said the revised ethics provision was not “near enough,” while Democrats involved in negotiations began preparing a counterproposal on Monday.　　Republicans need 60 votes to advance the bill, and failure on Tuesday could stall legislation that would determine how the US Securities and Exchange Commission and Commodity Futures Trading Commission divide oversight of the US crypto market.　　Key Democrats remain unconvinced by ethics offer　　Punchbowl News Brendan Pedersen reported that Senator Raphael Warnock said Democrats should not advance legislation that fails to address opportunities for corruption that are occurring “in real time.”　　Pedersen reported that Senator Ruben Gallego said the latest ethics offer left “much to be desired” and that

09-15Industry

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