Bitcoin was trading nearly 5% lower on Friday morning.
The price was around $36,800 per coin, while rivals Ethereum and Dogecoin were trading around $2,556 and 32 cents per coin, respectively, according to Coindesk.
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Another high profile name is talking about cryptocurrencies.
Tampa Bay Buccaneers superstar Tom Brady revealed Thursday that he is a “big believer” in the long-term prospects of cryptocurrencies.
TOM BRADY TOUTS CRYPTOCURRENCY INVESTMENTS, SAYS HE’S A ‘BIG BELIEVER’
The seven-time Super Bowl champion told a panel that he has “definitely” made investments in crypto over the last year amid a surge in value for Bitcoin and other tokens.
Brady admitted he was “not an expert” on the marketplace but has tried to learn more about it.
Brady made the comments during a keynote event at CoinDesk’s Consensus 2021 forum.
The Australian Taxation Office (ATO) was on the lookout for cryptocurrency tax dodgers, according to a report in news.com.au on Friday.
BITCOIN OVER BONDS: RAY DALIO REVEALS HE OWNS CRYPTO
The governmental agency that oversees the country’s federal tax collection will inform around 100,000 taxpayers holding cryptocurrency to review their previous returns to make sure their reporting is correct.
Another 300,000 people filing their 2021 tax returns are asked to report their cryptocurrency capital gains or losses, according to the report.
Earlier this month, the Biden administration unveiled a detailed plan laying out a new “tax compliance agenda” designed to beef up IRS enforcement and crack down on wealthy tax cheats.
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The plan calls for banks and cryptocurrency exchanges to report transactions to the IRS, helping bolster funding and technology for the agency.
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