Russia’s tax administration is going to be tasked with overseeing the crypto industry in the country, a high-ranking government official has indicated. According to the regulatory concept that’s currently under consideration, the revenue service will also serve as an entry point for market participants. Russians to Report Crypto Holdings and Transactions to Their Tax Service…
Read more
Republican leader at the US Securities and Exchange Commission said Europe’s legislation to regulate cryptocurrency could be a model as the country grapples with how to write rules for the industry. SEC Commissioner Hester Peirce, also nicknamed “Crypto Mom,” spoke at a Financial Times live event this week. “MiCA can serve as a model for…
Read more
Former US lawmakers Patrick Toomey, R-Pa., Tim Ryan, D-Ohio., and Patrick Maloney, D-N.Y will join Coinbase’s newly launched Global Advisory Council to guide its leadership team. “The creation of the Advisory Council is a significant step for Coinbase as we navigate an increasingly complex and evolving landscape in the US and internationally,” the exchange said…
Read more
Lawmakers on both sides of the aisle seem to be reaching some sort of agreement on the need for legislation to regulate cryptocurrency. Rep. French Hill, R-Ark., said his Democratic colleagues have told him they have supported “commonsense legislation for months.”… Read More: US House Lawmakers on Both Sides Seemingly Agree on Need for Crypto…
Read more
The government of Kazakhstan has collected over $7 million in taxes this and last year from enterprises mining cryptocurrency in the country. The news comes amid growing regulatory pressure that is limiting the industry’s access to low-cost energy while increasing its tax burden. Miners Face Higher Expenses, More Challenges Under New Legislation Kazakhstan’s coffers have…
Read more
Democratic Sen. Elizabeth Warren has plans to reintroduce a cryptocurrency bill to crack down on money laundering and terrorist financing. The long-standing crypto critic said she planned to reintroduce that legislation during a Senate Armed Services Committee hearing on Thursday…. Read More: Sen. Warren Plans To Reintroduce Crypto Bill To Crack Down on National Security…
Read more
In the wake of Florida Governor Ron DeSantis’ remarks in Jacksonville on Tuesday, both the Florida House of Representatives and Senate have approved the state’s anti-central bank digital currency (CBDC) legislation, dubbed SB 7054. The bill explicitly states that should the U.S. central bank, a federal agency, or a foreign government issue a CBDC, its…
Read more
Officials have revealed that Ukraine intends to implement the crypto market rules approved by the European Parliament. While the government is already moving in that direction, the tax service has issued a clarification regarding the taxation of income resulting from cryptocurrency transactions. Ukraine Set to Incorporate EU Crypto Regulations Into National Law A regional leader…
Read more
Members of the European Parliament gave their final approval to a package of EU-wide regulations for crypto assets. The legislators also backed the introduction of mechanisms allowing the tracing of cryptocurrency transactions which will also apply to private crypto wallets above a certain threshold. European Lawmakers Endorse Groundbreaking Crypto Assets Legislation Europe’s new common rules…
Read more
While bitcoin’s effect on the environment has been discussed at length over the last two years, the latest trend of artificial intelligence (AI) software is now being criticized for its carbon footprint. According to several headlines and academic papers this year, AI consumes significant electricity and leverages copious amounts of water to cool data centers.…
Read more
