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North Carolina Representative Ted Budd submitted an amendment to the omnibus America COMPETES Act of 2022, specifically targeting the provision that would allow the Treasury Department to impose “special measures,” including surveillance and outright prohibitions, against “certain transmittals of funds.”As Cryptox reported, executives of crypto advocacy group Coin Center had
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The Treasury Secretary already has this power in limited quantities. Under existing law, the regulator, in consultation with the Federal Reserve Chair, Secretary of State, federal regulators and other agencies can impose these restrictions on transactions. However, a public rulemaking notice must be issued alongside the restriction, and the restriction
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A new bill introduced in the U.S. has a provision that “would essentially give the Treasury Secretary unchecked and unilateral power” to ban cryptocurrency transactions, warned crypto advocacy organization Coin Center. Treasury Secretary Janet Yellen will be able to prohibit any crypto transactions “without any process, rulemaking, or limitation on
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Jerry Brito, the executive director of non-profit crypto policy advocate group Coin Center, suggested U.S. residents call their elected officials over possible privacy and due process concerns in a new bill proposed by House leaders.According to a Wednesday Twitter thread from Brito, the America COMPETES Act recently released by House
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NFL Star Odell Beckham Jr's (OBJ) decision to take his $750,000 salary in Bitcoin appears to have cost him dearly due to the market crash after he signed the deal. Owing to the vagaries of cryptocurrency tax laws and current prices, OBJ is estimated by some to have made 61%
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Before U.S. President Joe Biden signed the Infrastructure Investment and Jobs Act into law in November, many groups spoke out against a provision that broadens the tax code’s definition of “broker.” But there is another hidden cryptocurrency provision in this new law that amends part of the tax code in
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The Botswana government is set to present a “Virtual Asset Bill” to the country’s parliament, a move that could see it become one of the first countries in Africa to have laws regulating cryptocurrencies. Preventing the Proliferation of Risks Associated With Cryptos A Botswana government draft document that proposes to regulate
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Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cryptox in one link.Top Stories This WeekBinance CEO CZ is the richest crypto
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He bought some more bitcoin over time, but then didn’t buy it for years, until last year when the price hit new highs and then started to fall sharply, and he thought it was a good time to buy the dip. Miller started buying again at $30,000, down from its
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Minnesota Representative Tom Emmer has announced he will be introducing a bill intended to prevent the Federal Reserve from acting as a retail bank in the potential issuance of a digital dollar.In a Wednesday announcement, Emmer said the bill would prohibit the Fed from issuing a central bank digital currency, or
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