Bitcoin News and Finance: What You Need to Know

Economist Peter Schiff says the only enforcement success of the Joint Chiefs of Global Tax Enforcement (J5) is its “failed” action against his bank, allegedly aimed to “put a stop to the suspected facilitation of offshore tax evasion.” Schiff stressed: “Other than the failed investigation of my bank, which did not result in any charges being filed against anyone, the J5 has not had a single enforcement success in its 5-year plus history of existence.” Peter Schiff Says J5’s Only Success Is a Failure Economist Peter Schiff slammed the Joint Chiefs of Global Tax Enforcement (J5) on Wednesday, claiming its only success is a failed action against his bank, Euro Pacific Bank. J5 was established in 2018 by leaders of tax enforcement authorities from Australia, Canada, the Netherlands, the U.K., and the U.S. to increase collaboration in the fight against international and transnational tax crime and money laundering. Schiff detailed: The only J5 enforcement success the IRS brags about o...

Rich Dad Poor Dad author Robert Kiyosaki has warned that a soft landing for the U.S. economy is a fantasy, emphasizing that a crash landing is more likely. Noting that he already warned of this giant crash in his Rich Dad’s Prophecy book, the famous author stressed: “This next crash may turn into a depression.” Robert Kiyosaki on Giant Crash and a Depression The author of Rich Dad Poor Dad, Robert Kiyosaki, has once again sounded the alarm about the U.S. economy. Rich Dad Poor Dad is a 1997 book co-authored by Kiyosaki and Sharon Lechter. It has been on the New York Times Best Seller List for over six years. More than 32 million copies of the book have been sold in over 51 languages across more than 109 countries. Kiyosaki wrote on social media platform X Wednesday: “Soft landing is a fantasy. Crash landing more likely. I warned of this giant crash in my book Rich Dad’s Prophecy pub 2012.” He continued: This next crash may turn into a depression. The renowned author also share...

JPMorgan Chase CEO Jamie Dimon told U.S. senators in a congressional hearing that he would close down crypto if he were the government. Emphasizing that he has always been “deeply opposed” to crypto and bitcoin, the executive stressed that the true use case of crypto is criminals, drug traffickers, money laundering, and tax avoidance. Jamie Dimon Wants to Shut Down Crypto, Bitcoin The chief executive officer of global investment bank JPMorgan Chase shared his view about crypto and bitcoin on Wednesday during the Senate Banking Committee’s annual Wall Street oversight hearing. Responding to U.S. Senator Elizabeth Warren’s question about why cryptocurrencies are an attractive tool for criminals, Dimon stated: I’ve always been deeply opposed to crypto, bitcoin, etc. You pointed out the true use case for it is criminals, drug traffickers, anti-money laundering, tax avoidance. “That is a use case because it is somewhat anonymous, not fully, and because you can move money instantaneo...

Brazil will address the subject of digital currencies and how they can improve the financial system for the Group of Twenty (G20). Roberto Campos Neto, president of the Central Bank of Brazil, stated he wants the G20 to consider the benefits of using these currencies for making financial transactions and to work towards adapting rules to take advantage of this. Brazil to Discuss Digital Currencies as G20 President The government of Brazil will discuss digital currencies and the possible benefits of implementing them for financial transactions as part of the Group of the Twenty (G20). Having assumed the G20 presidency on December 1, Brazil will leverage its position to advance the digital agenda and assess how the twenty largest economies could adapt their regulatory frameworks to take advantage of digital currencies. At a recent event, Roberto Campos Neto, president of the Central Bank of Brazil, explained Brazil will touch on this subject in the group. According to Valor Economico...