Bitcoin BTC , ethereum and other major cryptocurrencies have been struggling under the weight of regulatory uncertainty—with the Federal Reserve warning it's "deeply concerned." Subscribe now to Forbes' CryptoAsset & Blockchain Advisor and successfully navigate the bitcoin and crypto market rollercoasterThe bitcoin price, after rocketing to almost $70,000 per bitcoin in late 2021, has crashed back, dragging down the wider $1 trillion crypto market—including ethereum, BNB BNB and XRP XRP (even as payments giant Visa dropped a crypto bombshell). Now, as the bitcoin and crypto market braces for a $15 trillion earthquake, U.S. president Joe Biden and leaders of other G20 member nations have endorsed the radical, game-changing crypto regulation recommendations of the global Financial Stability Board (FSB). The new rules would require bitcoin and crypto exchanges and companies to share information on crypto transactions between countries beginning in 2027. Forbes Digital AssetsThe G20 declaration went on to call for the "swift implementation of the crypto-asset reporting framework" that would give tax authorities greater visibility into bitcoin, ethereum, BNB, XRP and crypto transactions and the people behind them.

Source: Forbes September 11, 2023 07:34 UTC