Cryptocurrency Analysis and News Portal
The collapse of Silicon Valley Bank (SVB), which suffered a bank run after revealing a hole in its finances over the sale of part of its inflation-hit bond portfolio, led to a depegging event for major stablecoins in the crypto sector, leaving many to wonder whether it was a simple
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Gains accrued by staking cryptocurrency should not be treated as a taxable event. It only makes sense to tax such gains upon their conversion to legal tender currency. To do otherwise undermines a marquee environmental policy from the administration of United States President Joe Biden.The Internal Revenue Service appears strongly
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The proposed Biden budget plan would close the current harvesting loophole on crypto tax losses, reducing wash sales trading. According to reports, US President Joe Biden’s new budget plan could close tax loss harvesting on crypto transactions. A White House official confirmed that the budget, set to be revealed today, will include a tax
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Former FTX CEO Sam Bankman-Fried met with government officials at the White House on at least four separate occasions in 2022, one of which reportedly occurred just two months before the fall of his crypto empire.Most of the meetings were disclosed in visitor logs which are posted by the White
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However, “I think the executive order really pointed to the fact that … there's not a clear picture of exactly all of the different things that need to be put in place to fill some of the existing gaps. But there's also an acknowledgement of the already long-existing framework that
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You thought we’d talk more about FTX huh, didn’t you? We will, but not this week. CoinDesk published its annual Most Influential series on Monday, highlighting a number of regulators, lawmakers and similarly impactful individuals. I spoke to Carole House, one of the authors of the White House executive order
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The White House released its first comprehensive framework this month for the Responsible Development of Digital Assets following President Joe Biden’s March 9 executive order. The order called for regulators to assess the industry and develop recommendations to safeguard investors while simultaneously promoting innovation. While more work is needed, the
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The long-awaited cryptocurrency regulation framework released by President Joe Biden’s Treasury Department this month attempted to outline a plan for managing the burgeoning crypto industry. Unfortunately, the department’s assessment failed to embody more substance than a mere mission statement.While Biden’s administration appears to be taking a “whole-of-government approach” toward overseeing
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“Nonbanks are increasingly providing payment services, including issuing money (or money-like) liabilities and processing payments. On the one hand, participation by nonbank payments companies may contribute to higher levels of competition, inclusion, and innovation. On the other, if these firms are not adequately regulated and supervised, there may be risks
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While the latest Bureau of Labor Statistics Consumer Price Index (CPI) report indicates U.S. inflation has continued to print perpetual new highs, U.S. president Joe Biden is losing ground on his climate bill. The Biden administration’s recent budget negotiations and tactics toward dealing with inflation have been criticized by West
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