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"In recent months, the Committee on Finance initiated a bipartisan effort to identify key questions that lie at the intersection of digital assets and tax law," the letter said. "The Internal Revenue Code of 1986, as amended (IRC), draws distinctions between types of property, with no straightforward classification for digital
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The number two at the Indian central bank said that stablecoins are beneficial to economies such as the U.S. and Europe, to whose currencies the stablecoins may be linked. But in a country like India, they could potentially replace the use of the rupee in the local economy, Sankar said,
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied A policy paper has recently proposed the creation of a government-backed stablecoin, the HKDG, in Hong Kong to potentially compete with well-established digital counterparts, such as USDT and USDC. A policy paper suggesting the Hong Kong government
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Google has made updates to its privacy policy which now allows it to take any publicly available data and use it for artificial intelligence (AI) training purposes. The update to the company’s privacy policy came on July 1 and can be compared to previous versions of the policy via a
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Blockchain Australia's commitment came after hosting a "Stopping Scams Roundtable" involving 28 representatives, as well as observers from the Australian Securities and Investments Commission (ASIC) and Treasury. Earlier this month, the body had denounced the de-banking of cryptocurrency platforms and said it would host a roundtable meeting to discuss the
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“In any other space, if you’re working incrementally, you’d see increased compliance,” Grewal observed. “[In crypto], we haven’t seen that, so we’ve had to change strategy.” In other words, in Grewal’s view, the SEC lawsuit came down against Coinbase because the exchange didn’t respond to earlier warnings. Original Source
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Ether, the second largest crypto in market value, was similarly sluggish to recently change hands at about $1,655, also about flat from Wednesday, same time. Similar to BTC, ETH hit a three-month low on Wednesday. Meanwhile, Tether’s USDT stablecoin deviated from its $1 dollar peg early Thursday (ET) amid a
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The digital asset sector can be volatile, and the safety and soundness of digital asset players rests on their ability to manage a range of risks. Some of these risks are common across businesses, such as the exposure to asset price shocks, redemption surges and counter-party failure. Others are unique
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Looking to tame inflation, which then was running at an annual pace of more than 8%, the Fed began tightening monetary policy in March 2022, eventually hiking rates for 10 consecutive meetings and bringing the fed funds rate from 0-0.25% to the current 5.0-5.25%. Inflation has been gradually slowing over
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied At Money20/20 in Amsterdam, a panel titled “CBDC’s: The Next Steps” discussed the potential of central bank digital currencies (CBDCs), decentralized finance (defi), and decentralized autonomous organizations (DAOs). These concepts carry significant implications for the global
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