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“# America COMPETES Act passes House without ‘disastrous’ provision on crypto ” A piece of legislation aimed at addressing supply chain issues to keep the U.S. economy and businesses competitive has passed the House of Representatives — without a provision many in the crypto space had criticized for giving the Treasury Secretary authority to shut…
“# Myanmar’s military government considers launching digital currency: Report ” The armed forces of Myanmar, which have been in control of the government since forcibly detaining many elected leaders in 2021, is reportedly planning to release a digital currency to help the local economy. According to a Thursday report from Bloomberg, Major General Zaw Min…
“# US lawmakers issue warnings about digital yuan as Winter Olympics kicks off ” With the opening ceremony of the Beijing 2022 Winter Olympics completed and all competing athletes currently in China, two members of Congress are warning of the potential dangers of using digital yuan at the events. According to a Friday report from…
“# New gold-based stablecoin by trading giant Mitsui reportedly on the way ” Japanese trading house Mitsui is reportedly planning to issue a cryptocurrency pegged to gold, local news agency Nikkei Asia reported Friday. Called ZipangCoin (ZPG), Mitsui’s new digital currency will reportedly be issued as early as February and will be available to retail…
“# US lawmakers reintroduce bill to stop IRS from taxing crypto transactions under $200 ” A bill previously introduced by Washington Representative Suzan DelBene aims to exempt crypto users from paying taxes on transactions under $200. According to a Tuesday draft of the Virtual Currency Tax Fairness Act of 2022, Washington Representative Suzan DelBene is…
“# Russian central bank registers nation’s first digital asset manager ” The Bank of Russia has registered tokenization service Atomyze as the country’s first digital asset management company, the central bank officially announced Thursday. According to the announcement, the Bank of Russia has formally deemed the rules of the company’s information system and the platform’s…
“# Court victory precedent: IRS may not tax staking rewards until sold ” A Nashville couple’s lawsuit over taxes they paid on unclaimed and unsold Tezos staking rewards is coming to an end with the Internal Revenue Service (IRS) agreeing to issue them a refund. The decision may set a precedent for future guidance on…
“# ‘Philly is ready’ for CityCoins says city council ” Philadelphia is on the cusp of following in the footsteps of Miami, Austin and New York City by partnering with CityCoins to develop a crypto for the city of Brotherly Love. Philadelphia Mayor Jim Kenney has endorsed the concept and told government news media site…
“# Aussie billionaire sues Facebook over crypto scams with AG’s consent ” Australian billionaire Andrew “Twiggy” Forrest is taking Facebook to court over scammy cryptocurrency ads that he alleges used his name to defraud victims. The Fortescue Metals chairman is accusing Facebook of breaching Australia’s money-laundering laws, claiming that it “knowingly profits from this cycle…
“# UK tax agency cracks down on rules around DeFi lending and staking ” Her Majesty’s Revenue and Customs (HMRC), the U.K.’s tax agency, on Wednesday, has released a controversial set of guidance that could affect innovation in Decentralized Finance (DeFi). The updated regulation focuses on the treatment of digital assets specifically for DeFi lending…