Move over, XRP rumors. Bitcoin and ether are taking center stage as they begin the week with impressive gains, signaling a potential market rally in the coming weeks.

Bitcoin has broken through the $30,000 resistance level, and if it can maintain this momentum, it may continue to ascend. Ether, on the other hand, has surpassed the $2,000 mark, propelled by the rising popularity of decentralized finance (DeFi) applications.

Meanwhile, Ripple’s CTO David Schwartz has denied knowledge of rumors that the company was planning to buy back 10 billion XRP tokens, citing a lack of official sources. Ripple has a history of buybacks and over-the-counter sales to its RippleNet’s ODL customers, but this latest report has been met with skepticism from XRP-friendly lawyer John Deaton and the larger XRP community. Rumors aside, XRP has shown improved price performance since the release of controversial documents tied to its former official, Bill Hinman.

On the regulatory front, Japan has amended its tax laws to exclude unrealized gains of self-issued cryptocurrency from taxation, a welcomed move for crypto startups and stakeholders. This regulatory adaptability is a sharp contrast to the policy of taxing unrealized gains in other countries, hindering the development of thriving tech entrepreneurial environments.

However, in Australia, a new draft bill has been proposed that would require tech and social media companies to remove misinformation from their platforms or face hefty fines. While the bill aims to combat misinformation and disinformation, critics argue that its open-ended definition of “misinformation” may impact freedom of speech. The public consultation for the bill ends on August 6th.

As the crypto and tech landscapes continue to evolve, it’s important to stay informed and analyze developments from multiple perspectives. Whether it’s the potential market rally of Bitcoin and ether, the impact of regulations on startups, or the ongoing debates on misinformation, the blockchain community remains at the forefront of these discussions.