Cryptocurrency Analysis and News Portal
A bill previously introduced by Washington Representative Suzan DelBene aims to exempt crypto users from paying taxes on transactions under $200.According to a Tuesday draft of the Virtual Currency Tax Fairness Act of 2022, Washington Representative Suzan DelBene is seeking to amend the Internal Revenue Code of 1986 to exclude
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According to blockchain data from Nansen Analytics on Tuesday, over $1.096 billion worth of Ethereum (ETH) has been burned in the past month. With the introduction of the EIP-1559 last August, a portion of fees is taken out of circulation for every transaction that occurs on the Ethereum blockchain. While
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The Indian government has proposed taxing income from cryptocurrencies and other digital assets at 30%. India’s finance minister, Nirmala Sitharaman, said: “There’s been a phenomenal increase in transaction in virtual digital assets … The magnitude and frequency of these transactions have made it imperative to provide for a specific tax
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Under existing law, the Treasury secretary, in consultation with the Federal Reserve chairman, secretary of state, federal regulators and other agencies, has the power to impose such restrictions on transactions. However, a public rulemaking notice must be issued with the restriction, and the restriction lifts after 120 days unless the
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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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Analysts say newer products and high yield rewards are fuelling growth on the Fantom network. “Many projects like Radial, veDAO, and 0xDAO came up with liquidity mining launches that vampire attacked other protocols to gain TVL. These projects share a lot of resemblance to defi summer projects in 2020,” wrote
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Cardano’s first decentralized app (DApp) SundaeSwap has launched but is causing a frustration among users due to congestion, platform errors and failed transactions.Is it just a case of expected teething troubles under an influx of excited users or is there more to it?SundaeSwap is a decentralized exchange (DEX) and token
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A major bank in Pakistan has reportedly asked its customers to avoid conducting cryptocurrency transactions. Bank Alfalah’s action came shortly after the State Bank of Pakistan, the country’s central bank, submitted a report to the Sindh High Court recommending a complete ban on cryptocurrency. Bank Alfalah Asks Customers to Avoid Conducting
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The Swiss National Bank has successfully employed a wholesale CBDC to settle transactions with five commercial banks, the monetary authority announced. The tests are part of an experiment carried out together with the Bank for International Settlements and Switzerland’s financial services provider SIX. Swiss Central Bank Tests Integration of Wholesale CBDC
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