Cryptocurrency Analysis and News Portal
Amid contentious debate over the massive stimulus package in response to the coronavirus pandemic, Democrats in the United States House of Representatives look to implement the digital dollar to streamline payments to U.S. citizens outside of the traditional financial system.A digital dollar for direct payments to families A draft of
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Democrat congresswoman Maxine Waters has proposed giving $2000 a month to every adult, and $1000 a month to every child in America, to help see them through the COVID-19 financial crisis.Waters — the Chair of the U.S. House Financial Services Committee — made a series of other extraordinary legislative
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In a United States congressional meeting titled “Building Blocks of Change: The Benefits of Blockchain Technology for Small Businesses,” one of the testifying witnesses called out current cryptocurrency taxation expectations for their overbearing complexity. “Doing your taxes for crypto is the worst nightmare,” Protocol Labs General Council member Marvin Ammori
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A new working group, spearheaded by senior employees of Ripple and Coinbase, is going to advise United States regulators on crypto-friendly policies. But congresspeople are too busy preparing for the upcoming elections, which means that U.S. crypto firms will have to continue hula-hooping through state-by-state regulations in the near
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The former chief executive of bitcoin derivatives exchanges Bakkt is to join the committee that oversees the Commodity Futures Trading Commission (CFTC), raising concerns of a possible conflict of interest. The newly appointed senator, Kelly Loeffler (R., Ga.), will serve on the Senate Agricultural Committee, which is responsible for defining
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U.S. Congress has been looking at regulatory measures for cryptocurrencies since the inception of Facebook’s Libra project, and has no created a draft of a proposed bill called ‘Crypto-Currency Act of 2020’.The bill will be used to categorize Federal agencies and what specific digital assets they regulate in order to
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Eight members of the United States (U.S.) Congress sent a letter to the Internal Revenue Service (IRS) urging the agency to provide additional clarity on cryptocurrency tax laws. A letter dated Dec. 20, signed by eight U.S. Congress members, stated:“We wrote in April of this year urging the issuance of
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Paul Gosar, an Arizona Congressman, has introduced a draft bill, aimed at finally bringing regulatory clarity to the cryptocurrency industry in the United States, according to a Forbes article published on Dec. 19. The Crypto-Currency Act of 2020 sets out which Federal agencies should regulate each type of crypto
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After a record-breaking October, the XRP Ledger continues to grow in real-world usage and utility ending November with $100 million in ODL transactions. Although XRP price remains unaffected by the growing spike in utility growth, it shows the financial world it works, it is fast, secure and far, far cheaper. These transactions
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On Thursday, US congress has introduced a bill that would classify Facebook’s cryptocurrency Libra as a security. The new proposed law is likely to bring up larger issues of regulation and inspection to Facebook’s crypto project that the company introduced as an electronic payment system.Representatives Sylvia Garcia and Lance Gooden
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