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As Nigeria grapples with economic challenges, the government is set to introduce a tax on cryptocurrency transactions. This move appears to be an effort to tap into the burgeoning digital economy and the informal sector. In February, Nigeria sued Binance for unpaid taxes and introduced new cryptocurrency taxations in an effort to boost its faltering…
Trump’s US Bitcoin reserve is expected to drive global adoption, boost institutional investment and cement Bitcoin as a strategic asset, analysts say. President Donald Trump’s executive order establishing a US Strategic Bitcoin Reserve and a National Digital Asset Stockpile is expected to be a catalyst for wider Bitcoin adoption, according to investment analysts and crypto…
Donald Trump’s advisers said they would recommend the US President sign a resolution repealing the IRS rule into law if passed by the House and Senate. David Sacks, the AI and crypto czar in the Trump administration, said the White House will support congressional efforts to rescind the Internal Revenue Service (IRS) decentralized finance (DeFi)…
More than 100 current and former federal workers have sued Elon Musk and the Department of Government Efficiency agency he runs for allegedly accessing highly sensitive personnel records without proper vetting or authorization, according to a new federal lawsuit filed Tuesday. The lawsuit was filed in the Southern District of New York by 104 workers…
DeepSeek, the Chinese AI company, is raising the ire of regulators around the world. DeepSeek’s viral AI models and chatbot apps have been banned by a growing number of countries and government bodies, which have expressed concerns over DeepSeek’s ethics, privacy, and security practices. Corporations have banned DeepSeek, too — by the hundreds. The biggest…
Companies spent significantly more lobbying AI issues at the U.S. federal level last year compared to 2023 amid regulatory uncertainty. According to data compiled by OpenSecrets, 648 companies spent on AI lobbying in 2024 versus 458 in 2023, representing a 141% year-over-year increase. Companies like Microsoft supported legislation such as the CREATE AI Act, which…
The Department of Government Efficiency (DOGE), an advisory commission spearheaded by billionaire Elon Musk recommending deep cuts to federal agencies, could soon become more official, should an executive order signed by President Donald Trump pass legal muster. On Monday evening, Trump signed an order that renames the U.S. Digital Service (USDS), which was created in…
Incoming president Donald Trump has confirmed reports that Sriram Krishnan, until recently a general partner at Andreessen Horowitz (a16z), will serve as senior policy advisor for AI at the White House Office of Science and Technology Policy. Trump said in a statement that Krishnan will “help shape and coordinate AI policy across government, working with…
Incoming President Donald Trump has a new crypto and AI “czar”: ex-PayPal COO David Sacks. Trump announced Sacks’ appointment Thursday in a post on Truth Social, Trump’s social networking platform. “[Sacks] will work on a legal framework so the Crypto [sic] industry has the clarity it has been asking for, and can thrive in the…
Presidential candidate Vivek Ramaswamy has slammed Gary Gensler and the SEC at the Republican presidential debate. <p>Presidential hopeful Vivek Ramaswamy came down hard on SEC chair Gary Gensler and other “three letter agencies” during the recent Republican presidential debate, claiming that regulators had failed to keep up with crypto. During the 4th Republican presidential debate…