Crypto News Digest by U.Today

Valeria Blokhina

Check out the latest crypto events with U.Today’s news feed!

Here are the top four news stories from the past day that U.Today presented to you.

Bitcoin’s long bearish streak has a silver lining

Bitcoin bulls are hoping for an impressive rebound in the world’s largest crypto as some market observers see a break in the clouds in BTC’s anemic performance. According to Jake Gordon, the Bespoke Investment Group analyst, who goes by how Bitcoin has remained below its 200-day moving average (MA), it may be nearing its low. After staying below the aforementioned MA for an extended period of time, BTC usually generates significant returns. Bitcoin has now been below 200 MA for 70 days, one of the longest streaks in its history.

Thailand Relaxes Cryptocurrency Tax Rules

As reported by Reuters, Thailand has decided to adopt relaxed cryptocurrency tax rules to help promote and develop the industry in Southeast Asia’s second largest economy. Arkhom Termpittayapaisith, finance minister, says this will allow traders to offset annual losses with profits and exempt a 7% tax on crypto trading on authorized exchanges. The tax exemption will last from April 2022 to December 2023 and will also apply to trade in CBDC, which the central bank has yet to issue.

Binance is giving away Shiba Inu tokens to new users

Cryptocurrency exchange Binance has announced that as part of its new promotional offer, each new user can get up to 308,000 SHIB tokens. The majority of the $100,000 ($80,000) prize pool will be distributed to those who use a referral link to register on the website. The remaining $20,000 will be distributed to Binance users who have traded more than 1,000 USDT tokens across all trading pairs that support the Shiba Inu cryptocurrency. The offer is valid until March 21.

Cryptolaw Founder Provides Timeline for Settlement in Ripple SEC Case

Despite some people hinting at an imminent settlement in the Ripple SEC case (as the Ripple lawsuit is reportedly missing from the regulator’s website), Cryptolaw founder John Deaton does not expect a settlement to take place within a month.

It may not be clear whether Ripple is going to win the legal battle, but it seems that sentiment is in favor of the company over the SEC. According to a recent tweet from Fox journalist Eleanor Terrett, SEC employees are losing faith in its ability to win the case. A source close to the SEC told Terrett that Commissioner Hester Peirce believes the SEC may not be getting the result they are looking for.

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