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“# Dubai to benefit from expanding crypto market, Bittrex Global CEO says ” The United Arab Emirates (UAE) and Dubai are among the friendliest jurisdictions for the cryptocurrency industry, according to Stephen Stonberg, CEO of Bittrex Global crypto exchange. Dubai is likely to benefit from the expanding crypto market in the Middle East as local regulators…
“# ‘Don’t kill crypto’ billboard goes up in Alabama in advance of House tackling infrastructure ” Digital rights advocacy group Fight for the Future has publicly called out Alabama lawmaker Richard Shelby for preventing an amendment clarifying the role of crypto in the infrastructure bill to be addressed in the United States Senate. Fight for…
“# Philippine regulator tells Axie Infinity players they must pay tax on income from game ” Amid the enormous success of crypto-powered game Axie Infinity in the Philippines, the local Department of Finance has made clear that it wants a cut of profits generated by playing Axie and other play-to-earn games. An August 23 report…
“# Coinbase warns infrastructure bill’s crypto provisions could impact 20% of US population ” Coinbase’s Global VP of tax, Lawrence Zlatkin, has taken aim at the rushed cryptocurrency provisions added to Congress’ bipartisan infrastructure bill “at the last minute,” slamming lawmakers for hastily inserting amendments that could impact “60 million Americans.” In an Aug. 21…
“# Crypto language in the infrastructure bill is a political shell game, says Cointelegraph GC ” Zachary Kelman, the general counsel for Cointelegraph, said that the political fight over the tax implications for crypto in the infrastructure bill is nothing new, as it’s likely about how lawmakers plan to pay for everything. In an interview…
“#A Big Apple to-do list for our new gov” Kathy Hochul, unelected governor, has no mandate from voters. Nor does she have any experience in managing a large government, negotiating with a state legislature, crafting a budget or setting public-works policies. And she still may be the best thing that’s happened to New York state…
“# Inching closer to global agreement on taxing the sustainable digital economy ” In her monthly Expert Take column, Selva Ozelli, an international tax attorney and CPA, covers the intersection between emerging technologies and sustainability, and provides the latest developments around taxes, AML/CFT regulations and legal issues affecting crypto and blockchain. Since 2013, the Organization…
“#Another child tax credit payment went out today” The second payment of the 2021 advance child tax credit hit bank accounts Friday. The Department of the Treasury and the Internal Revenue Service said that more than $15.4 billion was paid out in this round. It’s the second of six payments to go out every month…
“# Biden’s infrastructure bill doesn’t undermine crypto’s bridge to the future ” It was a topsy turvy week — “staggering,” a crypto veteran called it. One that saw United States Senator Ted Cruz and Senator Ron Wyden collaborate on behalf of the cryptocurrency and blockchain industry — albeit, in a lost cause. These events could…
“# Members of Congress lobby Nancy Pelosi and others to amend crypto tax definition ” Representative Anna Eshoo has written to Speaker of the United States House of Representatives Nancy Pelosi on Thursday, expressing concerns about the controversial new mandate for crypto tax reporting. In it, she urged Pelosi to amend the cryptocurrency broker definition…