Money Market Funds Attract $397 Billion as Bank Deposits Decline
In 2023, $397 billion shifted from US bank deposits to higher-yielding money market funds, posing potential tax implications for investors.

In 2023, $397 billion shifted from US bank deposits to higher-yielding money market funds, posing potential tax implications for investors.
The Japanese National Tax Agency (NTA) reveals an increase in crypto tax violations, with 548 cases identified out of 615 inquiries in the fiscal year 2022. Although the average undeclared income per case dropped to $206,000, the cumulative value rose to $126.5 million, prompting calls for tax system reforms in Japan amid criticisms of the current structure's impact on firms holding coins.
The collapse of Silicon Valley Bank (SVB) in February 2023 sent shockwaves through the crypto industry. This article delves into the aftermath, exploring the amount SVB had in deposits, the key depositors affected, and the implications for the broader crypto ecosystem. Discover the figures, major claimants like Coinbase, MicroStrategy, Grayscale Investments, and Square, as well as the legal actions underway. As the Federal Deposit Insurance Corporation (FDIC) oversees the liquidation process, questions arise about the safety, regulation, and future of crypto banking in the US.
While the global crypto market is beginning to become saturated, some have started to sneak their way out of reporting ...
The cryptocurrency space has been on the grayer side of the financial space since its conception.
Hostile App Store rules won’t let crypto developers build
This article will analyze the taxability of merged ETH and what it means for you.
Here are the NFT-related rules of thumb to consider when filing your 2022 taxes.
Lawmakers in a European country have drafted a 2023 budget that revealed a 28% tax on crypto assets held for under a year.
DeFi Pulse, a leading authority on the DeFi space, calculates that the combined value of all deposits within DeFi protocols ...