Binance restricted P2P operations for Russians and removed Sberbank and Tinkoff

Crypto whales are still amassing holdings.

According to JPMorgan, the crypto market is likely to experience a "limited downturn".

By mistake, the US DEA sent the scammer 55,000 USDT.

Binance has had its partnership with Mastercard and Visa terminated.

Rules for taxation of cryptocurrencies have been put in place by the US Treasury and the Internal Revenue Service (IRS).

Santiment reports that large investors are still accumulating positions, with the number of wallets holding between 10 and 10,000 BTC reaching 156,600. This figure has grown by $308.6 million since August 17.

JPMorgan has warned that, while Bitcoin and other cryptocurrencies may experience a short-term decline, the drop will be relatively minor. The bank has stated that the process of closing long positions is nearing its end, rather than being in its early stages.

The Internal Revenue Service (IRS) and the US Department of the Treasury have jointly announced new cryptocurrency tax regulations, which require brokers and exchanges to report sales.

In a statement, the US Treasury declared that the rules will make tax reporting on digital assets equivalent to that of other assets, thus eliminating any preferential taxation between different types of assets.

The report from Tether on the status of reserves that back the USDT stablecoin has been updated. The total assets of the company are now at $86.1 billion, while liabilities are at $82.8 billion.

Two exchange-traded funds (ETFs) based on Ethereum futures have been applied for by investment companies ARK Invest and cryptocurrency ETP provider 21Shares.

An error by the US Drug Enforcement Administration caused them to mistakenly transfer $55,000 worth of confiscated USDT stablecoins to an attacker who had spoofed a US Marshals Service address.

Both Mastercard and Visa have declined to issue payment cards for Binance due to the regulatory issues the exchange is facing. In March, the Commodity Futures Trading Commission (CFTC) filed a civil lawsuit against Binance, and in June, the Securities and Exchange Commission (SEC) brought forth 13 charges against the exchange.

Binance has prohibited P2P transactions for Russians in all currencies apart from the ruble. Furthermore, Sberbank and Tinkoff cards have been taken out of the P2P service, which were previously referred to as "green" and "yellow" local cards. Recently, the Wall Street Journal accused the exchange of backing Sberbank and Tinkoff cards, which are subject to sanctions.