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A bipartisan group of U.S. senators have called on Treasury Secretary Janet Yellen to clarify the language in the infrastructure bill signed into law by President Joe Biden around the tax reporting requirements on crypto.In a Tuesday letter, Senators Rob Portman, Mike Crapo, Pat Toomey, Mark Warner, Kyrsten Sinema, and Cynthia
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The United States Treasury Department is reportedly seeking to clarify the definition of brokers in the bipartisan infrastructure bill passed by the Senate last week, offering cautious reassurance that the new legislation won’t impact innovation and growth in the blockchain industry. As reported by Bloomberg, the Treasury Department is preparing guidance
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Nine U.S. lawmakers asked the Securities and Exchange Commission (SEC) and Financial Industry Regulatory Authority (FINRA) to clarify how crypto firms can become registered broker-dealers and provide custody services for crypto assets.In a joint letter sent to SEC Chairman Jay Clayton Wednesday, the bipartisan group of representatives wrote they want
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The Internal Revenue Service (IRS) should – but won't – clarify how taxes are levied on cryptocurrencies and cryptocurrency transactions in the U.S., the government’s top auditing institution said Wednesday.The Government Accountability Office (GAO), a U.S. Congress watchdog, published a report in response to a request from Rep. Kevin Brady
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Telegram will not integrate a crypto wallet into its messaging app, at least until it gets the green light from U.S. regulators, the company said Monday on its official website. The announcement comes ahead of Telegram’s CEO deposition in Dubai on Tuesday. The post, which appears to be the first official
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The U.S. taxman's most recent crypto guidance is sowing confusion, according to a letter from eight congressmen published Friday.According to a letter penned by Representatives Tom Emmer (R-Minn.), Bill Foster (D-Ill.), David Schweikert (r-Ariz.), Darren Soto (D-Fla.), Lance Gooden (R-Texas), French Hill (R-Ark.), Matt Gaetz (R-Fla.) and Warren Davidson (R-Ohio),
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Blockchain developers organization Ethereum Classic (ETC) Labs Core (ETC Labs Core) has rebranded to ETC Core.In a Dec. 15 blog post, ETC Core technology coordinator Stevan Lohja announced that ETC Labs Core had been rebranded to ETC Core. Lohja stipulated that this rebranding will assist the company to differentiate
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At the core of any democratic country there are rules and regulations. If the past few years have taught us anything, it is that these rules are bound to change in order to accommodate emerging technologies.This is clearly proven in the ongoing struggle to regulate cryptocurrencies. However, financial regulators constantly
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