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U.S. Senator Pat Toomey has called on Congress to stop the Treasury Department from maximizing its ability to regulate and tax crypto by picking winners and losers. “Congress should not allow that to happen,” he said. US Senator Urges Lawmakers Not to Crush Crypto Innovation Following the endorsement of a crypto tax amendment by the … Read more
U.S. Treasury Secretary Janet Yellen has reportedly raised objections to lawmakers about the cryptocurrency tax amendment to the $1 trillion infrastructure bill that is supported by the crypto community. The White House subsequently announced its support for a competing amendment. Yellen Exerting Influence on Lawmakers Regarding Crypto Taxation The new crypto tax proposal in the … Read more
From indictments against figures behind BitMEX to banks blocking transactions, and then Binance, some CEXs are under pressure. Is this an industry-wide phenomenon? Go to Source Powered by WPeMatico
Former acting Comptroller of the Currency Brian Brooks has resigned as the CEO of Binance U.S. after just over three months. He cited “differences over strategic direction.” Meanwhile, Binance is facing regulatory scrutiny worldwide, including in the U.K., Malaysia, Japan, Cayman Islands, Hong Kong, Thailand, Germany, and Lithuania. CEO of Binance US Resigns The CEO … Read more
Some are urging U.S.-based crypto users to contact their representatives in support of the amendment from Wyden, Lummis and Toomey. Go to Source Powered by WPeMatico
Fresh off the heels of Binance’s last announcement to discontinue crypto derivatives offerings in Germany, Italy, and the Netherlands, the company revealed on Friday crypto derivatives products in Hong Kong will cease as well. Effective immediately, users won’t be able to open new derivatives positions and customers with existing derivatives positions have 90 days to … Read more
“The labeling of the offering as decentralized and the securities as governance tokens did not hinder us from ensuring that DeFi Money Market was immediately shut down and that investors were paid back,” said the SEC. Go to Source Powered by WPeMatico
Janet Yellen’s position on a “compromise” amendment proposed yesterday is unclear, but she reportedly raised objections to the language on crypto put forth by Senators Wyden, Lummis, and Toomey. Go to Source Powered by WPeMatico
The White House has endorsed an amendment to the $1 trillion Infrastructure bill that supports proof-of-work over all other consensus mechanisms. However, the crypto community is supporting a different amendment. White House Takes Stance on Infrastructure Bill’s Crypto Tax Amendment The White House has endorsed an amendment to the Infrastructure bill sponsored by Senators Mark … Read more
The senator’s stance is somewhat surprising, given that he previously called the section on brokers in the proposed bill a “common-sense provision.” Go to Source Powered by WPeMatico