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Bitcoin News Roundup for Aug. 31, 2020

With bitcoin still lagging behind U.S stocks and additional tax guidance in the U.S., CoinDesk's Markets Daily is back for your latest crypto news roundup!

Aug 31, 2020 at 4:00 p.m. UTC
Updated Sep 14, 2021 at 9:50 a.m. UTC

With bitcoin still lagging behind U.S stocks and additional tax guidance in the U.S., CoinDesk's Markets Daily is back for your latest crypto news roundup!

For early access before our regular noon Eastern time releases , subscribe with Apple PodcastsSpotifyPocketcastsGoogle PodcastsCastboxStitcherRadioPublica or RSS.

This episode is sponsored by Crypto.comBitstamp and Nexo.io.

Today's stories:

While bitcoin is eyeing an August gain for the first time in three years, the cryptocurrency is still lagging U.S. stocks over the month. 

China Construction Bank had quietly opened up the wallet service of China's digital yuan to public users – but has now disabled it shortly after the feature gained wide attention.

Chairman Powell’s speech on Thursday highlighted how much the Federal Reserve’s role is changing, and that's an opportunity for the crypto industry.

The U.S. tax department has provided guidance around crypto revenue earned from microtasks via crowdsourcing platforms and, yes, such income is taxable.

DISCLOSURE

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

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