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XRPTurbo recently has emerged as a standout star within the XRP ecosystem. With its recent rapid growth and impressive roadmap execution, XRPTurbo continues attracting new investors and building unmatched excitement across the XRPLedger community. A Phenomenal Post Presale Success Story Since concluding its oversubscribed presale two months ago, XRPTurbo’s growth has been nothing short of
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The post Senator Lummis Pushes Crypto Tax Crackdown in GOP Bill appeared first on Coinpedia Fintech News
Senator Cynthia Lummis (R-Wyo.) is making a strong move to reshape how the U.S. taxes crypto by pushing to include key digital asset provisions in the Senate Republicans’ 2025 tax-and-spending bill.
A longtime Bitcoin supporter, Lummis is working with Senate Finance Chair Mike Crapo (R-Idaho) to fold in parts of her bipartisan crypto regulation bill, co-authored with Sen. Kirsten Gillibrand (D-N.Y.). Her proposals aim to close tax loopholes and support the crypto industry – though not everyone is on the same page.
One of Lummis’s main proposals is to apply the wash-sale rule to crypto. This would stop investors from selling their digital assets at a loss and quickly buying them back to reduce their tax bills – a common tactic that isn’t currently restricted for crypto.
Lummis told Semafor, “This bill is the right place to fix crypto taxation,” but skeptics, including Gillibrand, call it “premature,” citing risks of rushed policy.
Another part of Lummis’s plan would exempt Bitcoin miners from reporting capital gains and losses. This would ease the reporting burden on miners, who often face confusing tax requirements despite playing a major role in the crypto ecosystem.
This proposal reflects Lummis’s ongoing support for the industry, but it’s expected to face resistance in a divided Senate.
On Wednesday, members of the Senate Finance Committee, including Sen. Bill Cassidy (R-La.), met with President Donald Trump at the White House to discuss the bill.
According to Cassidy, Trump is focused on including “working account benefits,” adding more complexity to ongoing negotiations.
With the 2025 tax cuts set to expire soon, Lummis’s proposals could help set the direction for how digital assets are taxed and regulated going forward. If adopted, they could provide clarity to the crypto market while also boosting federal revenue.
But with mixed support – even among allies – the road ahead for these reforms remains uncertain.
The post Senator Lummis Pushes Crypto Tax Crackdown in GOP Bill appeared first on Coinpedia Fintech News
Senator Cynthia Lummis (R-Wyo.) is making a strong move to reshape how the U.S. taxes crypto by pushing to include key digital asset provisions in the Senate Republicans’ 2025 tax-and-spending bill. A longtime Bitcoin supporter, Lummis is working with Senate Finance Chair Mike Crapo (R-Idaho) to fold in parts of her bipartisan crypto regulation bill, …
Mantra (OM) is down 20% over the last 30 days and 5% today. Despite this recent correction, it remains the second-largest RWA (real-world asset) token in the market.
The technical outlook shows growing signs of weakness, with indicators suggesting the current consolidation could shift into a downtrend. At the same time, key support levels are being tested, and a potential death cross is forming on the EMA chart.
Mantra’s ADX is currently at 22.96, a drop from 26.5 just a day ago, signaling a weakening trend. The ADX, or Average Directional Index, measures the strength of a trend without indicating its direction.
Readings below 20 generally suggest a weak or non-trending market, while values above 25 indicate a strong trend is forming or in progress.
With OM’s ADX now slipping below the key 25 threshold, it suggests that the previous trend—a consolidation—may be losing strength.
The drop also aligns with early signs of a potential shift toward a downtrend, especially if selling pressure builds. If the ADX continues to fall while bearish momentum rises, it could confirm that Mantra is transitioning out of consolidation and into a downward phase.
Mantra’s Ichimoku Cloud chart currently shows a market in hesitation, with the price moving along the edge of the cloud. This positioning reflects a state of consolidation, where neither buyers nor sellers have full control, as Mantra keeps its position as the second biggest RWA coin in the market.
The Tenkan-sen (blue) and Kijun-sen (red) lines are flat and close together, a typical sign of weak momentum and sideways movement in the short term. This setup often precedes a breakout, but the direction remains uncertain until a clear move occurs.
The future cloud is thin and has turned slightly bearish (red). It indicates that support ahead is weak and could be easily broken if selling pressure increases.
Additionally, the Chikou Span (lagging line) is entangled with recent price action, another indicator that OM lacks strong directional conviction.
While the price hasn’t decisively broken below the cloud yet, any further downside could shift the bias toward a confirmed downtrend. For now, OM remains in a vulnerable position. Traders will be watching closely to see if the cloud acts as support—or gives way.
MANTRA’s EMA lines are signaling potential weakness, with a possible death cross forming soon—a bearish pattern in which short-term moving averages cross below long-term ones.
If this pattern is confirmed and downward pressure increases, OM could fall to test the support at $6.15. A break below that level may lead to a further drop toward $5.85, signaling a deeper correction phase in the absence of renewed bullish momentum.
However, if sentiment around RWA coins picks up again, Mantra could see a trend reversal. In that case, OM might rally toward the $7.10 resistance level and, if broken, target $7.39 next.
Should the uptrend mirror the strength seen in previous months, OM could even climb above $8 to test $8.16 for the first time since late February.
The post Mantra (OM) Slides 5% as Potential Death Cross Looms appeared first on BeInCrypto.
KCS, the native token of cryptocurrency exchange KuCoin, is holding strong amidst a market-wide downturn. The altcoin has defied the broader market downturn with a 1% price increase in the past 24 hours.
This modest uptick may signal the beginning of a larger bullish trend, as technical indicators show strengthening upward momentum. This analysis holds the details.
Readings from KCS’ daily chart suggest that bullish pressure is building. Notably, its Relative Strength Index (RSI) is currently at 58.32 and is on an upward trend, confirming the strengthening demand for the altcoin.
The RSI indicator measures an asset’s overbought and oversold market conditions. It ranges between 0 and 100, with values above 70 suggesting that the asset is overbought and due for a price decline. Converesly, values under 30 indicate that the asset is oversold and may witness a rebound.
At 58.32 and climbing, KCS RSI signals that bullish momentum is gaining traction and buying pressure is intensifying.
Moreover, the token’s Moving Average Convergence Divergence (MACD) confirms this positive trend. As of this writing, KCS’ MACD line (blue) rests above its signal line (orange).
An asset’s MACD indicator identifies trends and momentum in its price movement. It helps traders spot potential buy or sell signals through crossovers between the MACD and signal lines.
As in KCS’ case, when the MACD line is above the signal line, it indicates bullish momentum in the market. Also, traders often view this setup as a buy signal; hence, they might be prompted to buy more KCS tokens, further driving up its short-term value.
KCS currently trades at $10.71, resting just below the resistance formed at $10.90. If the demand for the altcoin grows and it successfully flips this price barrier into a support floor, it could propel KCS to $11.77, a high last reached on March 3.
However, if KCS holders resume profit-taking, it could lose its recent gains and fall to $10.027.
If the bulls fail to defend this support level, KCS could extend its decline, break below $10 to trade at $8.94.
The post KuCoin (KCS) Shrugs Off Market Weakness, Eyes 58-Day Price High appeared first on BeInCrypto.