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” Biden budget proposes 30% tax on crypto mining electricity usage “ A phased-in 30% tax on cryptocurrency mining electricity costs has been proposed by United States president Joe Biden in his administration’s 2024 fiscal year budget. A Department of the Treasury supplementary budget explainer paper released Mar. 9 said any firm using resources —…
” Investors might have avoided FTX if the SEC had addressed Bitcoin ETFs, says BitGo CEO “ The collapse of crypto exchange FTX and other bearish events in the space were at the center of discussions among lawmakers and witnesses at the inaugural hearing of the United States House Committee on Financial Services’ Subcommittee on…
” Crypto industry braces for impact with Silvergate exit “ Silvergate is not a systematic risk for the United States banking system, but it could have a significant impact on the crypto markets, multiple sources told Cointelegraph. These may include increasing banking concentration in a few partners and challenges for venture capital firms seeking to…
” House Republicans directly criticize Biden administration for digital asset policies “ Statements from Republican lawmakers ahead of the inaugural hearing of the United States House of Representatives subcommittee focused on digital assets, financial technology and inclusion suggest partisan divides on crypto regulation. In a March 6 memo, House Financial Services Committee Republicans said the…
” SWIFT moves to next phase of CBDC testing after positive results “ According to a statement on Mar. 9, bank messaging platform Society for Worldwide Interbank Financial Telecommunications, or SWIFT, disclosed that the financial institution witnessed positive results related to its pilot test of linking different central bank digital currencies (CBDCs). During a 12-week…
” 5 countries leading the blockchain adoption “ Countries lead blockchain adoption for various reasons, including recognizing its potential to transform multiple sectors of the economy, promoting innovation and economic growth, and creating a favorable regulatory environment to attract blockchain businesses. Types of blockchain communities that lead blockchain adoption Blockchain communities refer to groups of…
” CoinTracker integrates with H&R Block to offer crypto tax preparation “ Crypto tax software provider CoinTracker is integrating its software with H&R Block, a company that helps millions of customers prepare their income taxes across Canada, the United States and Australia. In an announcement seen by Cointelegraph, CoinTracker noted the partnership will allow American…
” Ukraine’s central bank sees both promises and threats in Bitcoin “ The National Bank of Ukraine (NBU) has expressed a mixed stance on cryptocurrencies such as Bitcoin (BTC) after a year of war in the country. The central bank of Ukraine sees both good and bad in digital assets, taking a more skeptical approach…
” German regulator BaFin suggests a ‘case-by-case’ approach for NFTs “ Federal Financial Supervisory Authority of Germany (BaFin) is not ready to classify nonfungible tokens (NFTs) as securities yet. The Agency suggests classifying the NFTs on a case-by-case basis. On March 8, the BaFin journal published an explanatory note considering NFTs and their legal classification….
” Judge refuses to consolidate class-action lawsuits against FTX “ A federal judge has refused to consolidate several proposed class-action lawsuits against the FTX exchange by investors. According to the judge, the exchange and its defendants have not yet been heard. Excerpt from the order denying the motion to consolidate. Source: Law360 On March 8,…