84.7 F
Tuesday, August 16, 2022

EXCLUSIVE: Democrats Are Trying To ‘Pry Away Financial Privacy’ In Tax Reporting Rules, Rep....

A cryptocurrency tax reporting requirement tucked inside the $1 trillion infrastructure bill threatens Americans’ financial privacy and constitutional rights, Rep. Warren Davidson warned.An amendment to Section 6050I of the U.S. tax code, buried deep inside the Infrastructure Investment and Jobs Act currently pending in the House, would impose new surveillance and reporting requirements on individuals trading…

Key Cryptocurrency Developments And Updates In The Last Week

As noted previously, now that Jamie Dimon has relented and will not fire any JPM employee caught trading bitcoin but instead is encouraging them to cover (and trade) the digital currency sector in response to growing client demand for more exposure, the bank recently launched a weekly cryptocurrency report which covers the main developments and…

House Lawmakers Set To Square Off With White House, Treasury Department Over ‘Stifling’ Crypto...

House lawmakers are set to consider a controversial and last-minute cryptocurrency tax provision that has been criticized as vague, expansive, and potentially unworkable, with many fearing it could stifle the industry and force companies to collect personal information on their customers. The provision has the backing of the Biden administration. Treasury Secretary Janet Yellen personally…

Pat Toomey: Cryptocurrency Tax in Democrat Infrastructure Bill ‘Unworkable’

Sen. Pat Toomey (R-PA), the ranking member of the Senate Banking Committee, released a statement that slammed the so-called “infrastructure” bill’s provision to tax cryptocurrency as “unworkable.” “Congress should not rush forward with this hastily-designed tax reporting regime for cryptocurrency, especially without a full understanding of the consequences,” Toomey wrote the day after the Senate released the text of the…

Exclusive – Rep. Ted Budd: Infrastructure Bill Cryptocurrency Tax ‘Devastating’ for American Jobs

JACK GUEZ/AFP/Getty Images Rep. Ted Budd (R-NC) told Breitbart News in an exclusive interview Monday that the cryptocurrency regulations in the so-called bipartisan infrastructure bill are “devastating” for American jobs and the country’s competitiveness in the financial technology industry. Budd spoke to Breitbart News as Senate Republicans and Democrats unveiled their $1.2 trillion bipartisan “infrastructure”…

Cryptocurrency Exchange Binance Banned In The UK

Binance, one of the world's largest cryptocurrency exchanges, was banned on Sunday from any regulated activities in the UK when Britain's financial watchdog the Financial Conduct Authority imposed stringent requirements against Binance, a sprawling digital asset firm with subsidiaries around the world. The exchange has until Wednesday evening to confirm it has complied with the…

$STOPELON Coin Launches to Fight Elon Musk ‘Irresponsibly Manipulating’ the Cryptocurrency Market

An anti-Elon Musk cryptocurrency coin called $STOPELON has reportedly joined the digital currency market following Musk’s negative comments about Bitcoin. Interesting Engineering reports that a new cryptocurrency called $STOPELON has joined the digital market in a direct shot towards Tesla CEO Elon Musk who’s social media posts have had a major effect on crypto markets in…

Anonymous Donor Uses $1K in Dogecoin to Pay Adoption Fees at Animal Shelter

Screenshot via Facebook An anonymous donor has generously paid adoption fees for 21 pups living at a shelter in Daytona Beach, Florida. According to People, “The donor, dubbed Doge Community, won big using cryptocurrency Dogecoin and put $1000 of those funds toward the adoption fees of dogs that were currently ready to be adopted from…

Banks Are Now Openly Shutting Down Accounts Of Cryptocurrency Players

When right-wing figures like our own Laura Loomer, Proud Boys chairman Enrique Tarrio, and others were banned from PayPal and other payment processors, we sounded the alarm on the potential un-personing from the financial system based on arbitrary factors like political beliefs. Such decisions are nearly always made by executives who hide within their faceless…

North Korea Building Cryptocurrency to Combat U.S. Sanctions

According to a Thursday VICE story, the North Korean regime is building its very own cryptocurrency in order to circumvent U.S. sanctions which have leveled its economy. “Pyongyang has long shown an interest in cryptocurrencies, with the country recently bringing together homegrown experts with foreign companies at its first-ever blockchain and cryptocurrency conference in April,”…

Recent Posts

USD - United States Dollar