Bitcoin and the entire market have been in a sideways trend since the slump last week. The $ 10,000 mark was tested several times but could not be held so far. It remains exciting in which direction Bitcoin will break. The current market cap of crypto-assets remained constant which shows that Altcoins are strongly dependent on Bitcoin.
Here is the last week’s overview
1. “However long it takes” — Zuckerberg will fight for Libra
According to Facebook CEO Mark Zuckerberg, the company will work to get regulators and others on board before the Libra cryptocurrency project is launched.
The US authorities are concerned and call the planned launch of the cryptocurrency in the first half of 2020 into question — but Facebook is determined to work with policymakers to achieve its intended goal.
2. Controversy surrounding TRON founder Just Sun continues
After Justin Sun suddenly postponed the planned meeting with investor legend Warren Buffet last Wednesday, contradictory reasons have been published by the Tron Foundation and various Chinese sources. According to the Tron Foundation, the meeting was postponed for health reasons, with other sources reporting a ban on leaving the country with related investigations against Justin Sun.
One day before the scheduled lunch, Sun publicly apologized to the regulators for the “over-commercialization” of the buffet lunch and the short-term adjournment for health reasons.
The appearance of Tron CEO Justin Sun at a Tron-organized party in San Francisco on Thursday evening sparked controversy because on the same day Buffet’s initial meeting was scheduled.
3. IRS sends cautionary letters to more than 10,000 cryptocurrency holders
U.S. Internal Revenue Service (IRS) announced on Friday that it has begun sending letters to taxpayers who have cryptocurrencies, advising them to pay back all subsequent taxes or to submit amended tax returns regarding their holdings. On Reddit, there are already first reports from users who have received such a letter.
According to IRS Commissioner Chuck Rettig, the agency will now step up its cryptocurrency efforts to better enforce existing law and educate taxpayers on their obligations.