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“# Lead Republican behind infrastructure bill negotiations supports crypto amendment ” Senator Rob Portman, one of the lead Republican voices for negotiations over an infrastructure bill in the U.S. Senate, said he supports an amendment clarifying the intent of a cryptocurrency provision. In a Tweet today, Portman encouraged his colleagues in the Senate to vote…
“# Coinbase CEO Brian Armstrong says proposed crypto tax rule makes no sense ” Coinbase CEO Brian Armstrong is the latest crypto figure to come out against the wording of the proposed changes to cryptocurrency taxation in America. Tweeting on Wednesday, Armstrong stated that the provisions included in the crypto taxation proposal could have a…
“# Some US lawmakers want Bitcoin miners to be exempted from proposed crypto taxes ” Lawmakers in the United States have called for caution regarding implementing a proposed tax policy that could have significant implications for America’s crypto space. As previously reported by Cointelegraph, an expanded crypto taxation regime was a last-minute addition to the…
“# Russian court orders Sber to unblock account used for Bitcoin trading ” The state of cryptocurrency regulation in Russia has taken another twist as a local court has ordered the country’s largest bank to resume account support for a Bitcoin (BTC) trader. Sverdlovsk regional court, a court in Russia’s fourth-largest city of Yekaterinburg, has…
“# BlockCrushr drops lawsuit accusing ConsenSys of stealing its IP ” Canadian blockchain startup BlockCrushr has agreed to drop an intellectual property (IP) lawsuit against early backer, Ethereum-focused software engineering firm, ConsenSys. The two firms filed a joint agreement to dismiss the case on July 27, with the deal’s terms prohibiting BlockCrushr from attempting to…
“# Powers On… Why the fear of ICO enforcement and liability is coming to an end ” Powers On… is a monthly opinion column from Marc Powers, who spent much of his 40-year legal career working with complex securities-related cases in the United States after a stint with the SEC. He is now an adjunct…
“# Inside El Salvador’s Bitcoin experiment: Cointelegraph video report ” Last month, Bitcoin was adopted as legal tender in El Salvador, joining the U.S. dollar. The country’s new Bitcoin Law, which will be enforced starting Sept. 7, will allow Salvadorans to use Bitcoin (BTC) as a currency to purchase goods and services, as well as…
“# Pennsylvania legislature mulls crypto task force bill ” A bill to establish a crypto task force in Pennsylvania has been introduced in the state’s General Assembly. According to the details of HB1724 published by LegiScan, the proposed crypto task force will be mandated to examine the potential impact of widespread crypto and digital currency…
“# IMF issues veiled warning against El Salvador’s Bitcoin law ” The International Monetary Fund is warning that some of the consequences of a country adopting Bitcoin as a national currency “could be dire.” According to IMF marketing department financial counsellor and director Tobias Adrian and legal department general counsel and director Rhoda Weeks-Brown, a…
“# Nonfungible tokens from a legal perspective ” A nonfungible token (NFT) can be both a representation of a physical or digital asset that only exists on the internet — a programmable piece of art. It provides ownership of an underlying asset, like a painting, and it can also represent a digital asset in the…