Infrastructure bill’s crypto tax provisions to be signed into law—and 5 other crypto updates you should know

November 16, 2021 Blockchain

Last week, the cryptocurrency market briefly surpassed $3 trillion as the top digital coins rallied.

Bitcoin and ether both hit all-time highs on Wednesday, but have since cooled off.

Now, on Monday afternoon, bitcoin is trading at around $64,143, according to Coin Metrics, and ether at around $4,611, as of 12:56 p.m. EST.

As President Joe Biden signs the $1.2 trillion bipartisan infrastructure bill into law — which includes tax reporting provisions that apply to cryptocurrency — here are six important things that happened this past week in the space.

1. Robinhood’s data breach involved about 7 million customers
Online brokerage Robinhood announced on Monday that a Nov. 3 data breach involved exposure of personal information for about 7 million customers, CNBC reported.

For 5 million of them, email address were accessed. Another 2 million had their full names revealed. For about 310 users, name, date of birth and ZIP code were exposed. About 10 customers had more extensive account details revealed.

Robinhood said it is alerting affected individuals, and noted that based on its investigation, no Social Security numbers, bank account or debit card numbers were exposed.