bill

A new Senate bill would bill exempt small crypto from capital gains taxes

A new Senate bill would bill exempt small crypto from capital gains taxes

A new bill that would exempt small crypto transactions from capital gains taxes has entered the Senate. According to an announcement shared with The Block, Senators Pat Toomey and Kyrsten Sinema have introduced the Virtual Currency Tax Fairness Act, which establishes a de minimis exemption from reporting taxes on purchases made in crypto.  …

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Sen. Lummis to propose new US crypto market overseer next year: report

Senators Gillibrand and Lummis release long-awaited cryptocurrency bill

IRA Financial Trust, a provider of crypto IRA services, said Monday that it is suing crypto exchange Gemini for its alleged role in the breach of customer retirement accounts. IRA Financial, which has offered clients exposure to crypto via integration with Gemini, said in a press release that the New York-based Gemini’s systems were responsible …

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New York State Assembly Passes Bill Blocking New Cryto Mines That Use Non-Renewable Power

New York State Assembly Passes Bill Blocking New Cryto Mines That Use Non-Renewable Power

However, advocates of the bill noted that existing facilities would remain unaffected by the bill, as well as any facilities that tap renewable resources. The bill itself specifies that the New York Department of Energy “shall not approve a new application for or issue a new permit … for an electric generating facility that uses …

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US Senate to Consider Bill Examining El Salvador's Bitcoin Experiment

US Senate to Consider Bill Examining El Salvador’s Bitcoin Experiment

“As El Salvador has adopted Bitcoin as legal tender, it’s important we understand and mitigate potential risks to the U.S. financial system,” Risch said in a statement on Wednesday, adding that the legislation would require the State and Treasury Departments, among other federal agencias, to mitigate risks such as potential empowerment of China and organized …

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Report: Woes under the Infrastructure Bill to be answered by the Treasury

Report: Woes under the Infrastructure Bill to be answered by the Treasury

The U.S Treasury Department might exclude crypto miners and stakers from a crucial rule going forward, reported Bloomberg. It has to do with the rule where brokers of virtual assets are required to provide information on their clients’ transactions to the Internal Revenue Service (IRS) under last year’s infrastructure bill. Congress had made way for …

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US Lawmakers Reintroduce Bill to Provide Tax Relief for Small Crypto Transactions

US Lawmakers Reintroduce Bill to Provide Tax Relief for Small Crypto Transactions

Jerry Brito, executive director of the crypto think tank Coin Center, which has lobbied for the bill, said the legislation would “relieve users from having to keep track of small personal transactions.” “Not only will this create a level playing field for digital currencies, it will also help unleash innovation on applications like micropayments, which …

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India: New poll shows what most crypto-investors really think about the bill

India: New poll shows what most crypto-investors really think about the bill

2021 triggered a whole lot of hype regarding the possibility of a crypto-regulatory bill in India. However, 31 December came and went without the long-awaited bill seeing the light of the Parliament.  While many might expect Indian crypto-investors to be bullish on crypto-legislation, data shows that opposition towards the proposed bill comes from an unexpected …

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Wyoming Sen. Lummis to Propose New Crypto Regulator, Clear Guidance in 2022 Bill

Wyoming Sen. Lummis to Propose New Crypto Regulator, Clear Guidance in 2022 Bill

Lummis, who sits on the Senate Banking committee, wants nothing short of full normalization for digital assets in the U.S., the aide said. Her upcoming bill will propose doing just that with federal rules for stablecoins, consumer protection provisions and updated taxation guidance, as well as a new watchdog: a self-regulatory organization administered by the …

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