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“# Israeli gov’t seeks to track crypto holdings above $61K ” The Israeli government is ratcheting up its efforts to deter tax evasion and close loopholes for would-be money launderers as part of a “war against black capital.” Among the measures outlined in a new draft bill published by the Ministry of Finance this week,…
“# Bitcoin Strategy ProFund aims to tackle regulatory barriers for investors ” The United States-based investment management firm ProFunds announced the launch of Bitcoin Strategy ProFund (BTCFX), one of the first publicly available mutual funds or ETFs that performs in parallel with Bitcoin (BTC). ProFunds provides an alternative to the traditional methods of holding cryptocurrencies…
“# Nano seeks $700K in costs from plaintiff who dropped class action with ‘absurd’ claims ” An ongoing lawsuit involving crypto project Nano has taken another turn this week when the developers sought a sanction after the plaintiff dropped the case. The Nano team is after $701,000 in attorney fees and costs as a sanction…
“# Senators add crypto taxes to infrastructure deal to raise $28B in extra revenue ” Last-minute additions to the bipartisan infrastructure deal in the United States Senate saw lawmakers propose expanded cryptocurrency taxation to raise an additional $28 billion in revenue. The proposal will implement tighter rules on businesses handling crypto, expand reporting requirements for…
“# Massive government spending accelerating crypto adoption: Sen. Cynthia Lummis ” Republican Senator and Bitcoin proponent Cynthia Lummis said that massive government spending is accelerating crypto adoption. Lummis made the comments while sharing an interview she did with “Varney & Co” on the Fox Business cable network on July 29, in which she called for…
“# Ghana’s vice president declares Africa should embrace digital currencies ” Ghana’s vice president Dr. Mahamudu Bawumia believes that African governments need to embrace digital currencies to facilitate trade throughout the continent. As reported by Ghanaweb Bawumia outlined his argument during the Fifth Ghana International Trade and Finance Conference, which boasted the theme of “Facilitating…
“# Anchorage Digital will custody crypto seized by US Marshals ” Crypto custody bank Anchorage Digital will be providing digital asset services for the United States Marshals Service for seized funds related to federal crimes. In a Wednesday announcement from Anchorage, the digital asset platform said the U.S. Marshals Service, or USMS, “seized some amount of…
“# Digital currency may be an answer to help the unbanked, Sen. Warren says ” Senator and former United States presidential candidate Elizabeth Warren believes that the digital asset industry may be a tool to tackle some challenges in the traditional financial system. A known skeptic of cryptocurrencies like Bitcoin (BTC), Warren appeared to have…
“# Law professor calls for crypto mining regulation during US Senate hearing ” Tuesday’s crypto hearing before the United States Senate Committee on Banking, Housing and Urban Affairs also included a call for stricter regulations on cryptocurrency miners. Addressing the committee, professor Angela Walch claimed that miners held “meaningful power” over the way blockchain networks…
“# Buterin’s $1B SHIB donation tricky to cash out, says fund manager ” Just $20 million of the $1 billion in cryptocurrency that Ethereum (ETH) co-founder Vitalik Buterin donated to a Covid-19 relief fund in India has so far been cashed out and distributed to aid recipients. Figuring out why the process is not as…