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“This legislation imposes a badly flawed, and in some cases unworkable, cryptocurrency tax reporting mandate that threatens future technological innovation,” said Senator Toomey. Go to Source Powered by WPeMatico
Uganda’s blockchain community welcomes the recent call on authorities to create a cryptocurrency regulatory framework, a board member of the Blockchain Association of Uganda (BAU) has said. The member, Suleiman Murunga, explains that such a framework “will create investor confidence and boost participation by innovators.” Uganda’s FIA Calls for Crypto Framework The remarks by BAU’s … Read more
Japan’s newly appointed Financial Services Agency Commissioner Junichi Nakajima believes Bitcoin is a quick way to transfer cash, but people use BTC for speculation and investment. Go to Source Powered by WPeMatico
“Who knows how much innovation we’re going to stifle, who knows what kind of new apps never emerge,” said Senator Pat Toomey. Go to Source Powered by WPeMatico
Derivatives data show the market is dominated by longs and that top traders added leverage as BTC price rallied to $46,300. Go to Source Powered by WPeMatico
Five U.S. senators have been working with the Treasury Department and have come up with a compromise crypto amendment to the $1.2 trillion infrastructure bill. “We’ve worked with the Treasury Department to clarify the underlying text and ensure that those who are not acting as brokers will not be subject to the bill’s reporting requirements.” … Read more
The new compromise amendment could still be added to HR 3684 through a unanimous consent request — provided not even one senator objects. Go to Source Powered by WPeMatico
The U.S. Securities and Exchange Commission (SEC) has charged Poloniex with operating an unregistered cryptocurrency exchange. Poloniex has agreed to a cease-and-desist order and to pay $10.34 million. SEC Hits Poloniex With Cease-and-Desist Order, Penalties The SEC announced Monday that “Poloniex LLC has agreed to pay more than $10 million to settle charges for operating … Read more
The deputy governor of India’s central bank, the Reserve Bank of India (RBI), says the bank should be able to come up with a central bank digital currency (CBDC) model by the end of this year. India May Unveil a CBDC Model by Year End The Reserve Bank of India (RBI) may unveil a model … Read more
U.S. Senator Elizabeth Warren, a longtime bitcoin skeptic, has shared her view of the benefits of cryptocurrencies. While noting that “The biggest upside to cryptocurrency could be expansion or democratization of access to the financial system,” she warned that the crypto industry may need federal bailout if something goes wrong, such as “a run on … Read more
