Bittime - In a post on social media platform X last Thursday, Scott Melker, also known as the "Wolf of All Streets", expressed his concerns about the US government's plans to target Bitcoin. The post was made after the United States government's attack on cryptocurrencies.
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Melker Voice Concerns About the PlanUS Government
Melker is an investor, author, and host of the popular podcast Wolf of All Streets. He won the Binance Influence Award for North America in 2020. Many Bitcoin enthusiasts applauded the US government's attack on crypto, but little did they realize that the attack would ultimately target Bitcoin as a commodity.
Melker also stressed “that the Internal Revenue Service (IRS), Federal Bureau of Investigation (FBI), Department of Justice (DOJ), and Securities and Exchange Commission (SEC) have all attacked their own controls in recent weeks,” as reported by news.bitcoin .
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FBI Warns Use of Crypto Asset Delivery Services
The FBI issued a warning last week about the use of unregistered crypto asset delivery services, which violates US anti-money laundering laws. This warning comes one day after the Department of Justice charged the operators of Samourai Wallet. Charges of running more than $2 billion in unauthorized transactions and laundering more than $100 million in criminal proceeds.
The Department of Justice accused Roger Ver, a Bitcoin investor, of committing tax evasion mail fraud, and filing false tax returns. Meanwhile, Gary Gensler, Chairman of the Securities and Exchange Commission (SEC), has attacked a number of cryptocurrencies including Ethereum. Gensler also thinks that most crypto tokens, except Bitcoin, are securities.
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IRS Issues Draft Tax Form 1099-DA
The draft tax form 1099-DA issued by the IRS requires brokers, including those providing unhosted wallets, to report the results of digital asset transactions. A crypto tax specialist opined that collecting sensitive information such as wallet addresses can cause significant security and privacy issues.
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The US Government Wants Citizens to Invest in Regulated Offerings
Melker stated that the US government wants citizens to invest in regulated offerings. After the Securities and Exchange Commission approved eleven Bitcoin exchange-traded funds (ETFs), including one of the world's largest asset managers, Blackrock.
In early January, US spot Bitcoin ETF funds initially saw a significant influx of funds. However, for the first time, they reported consecutive outflows recently.
How To Buy Bitcoin (BTC) With Bittime
You can buy and sell Bitcoin (BTC) in an easy and safe way via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
Bitcoin (BTC) is available on Bittime with BTC IDR pairing.
To be able to buy BTC tokens on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet . For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn How to Buy Bitcoin (BTC) on Bittime.
Monitor price chart movements of Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
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DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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