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Slovenia Launches Public Consultations on Crypto Taxation Law
28.10.2021
Authorities in Slovenia have prepared new legislation tailored to determine how crypto holdings and transactions are taxed in the country. The proposal, aimed at clarifying the matter, has been submitted for public consultations this week, local media reports revealed. Slovenia to Amend Tax Rules...
‘An Act of War Against the Middle-Class’ — Americans Criticize Janet Yellen’s Idea to Tax ‘Unrealized Capital Gains’
25.10.2021
The 78th United States secretary of the treasury Janet Yellen told CNN’s “State of the Union” on Sunday that U.S. lawmakers are considering taxing unrealized capital gains. According to Yellen, the funds collected would help finance things related to climate and social change....
Pakistan Government Not Against Crypto Investments, High Court Calls for Regulations
23.10.2021
The executive power will not oppose cryptocurrency investments, a high-ranking government official has told lawmakers in Pakistan. The statement comes as a regional high court has urged the federal government to regulate cryptocurrencies and formed a committee to look into the matter in the coming...
Australia Needs Regulations to Facilitate Crypto Business, Senate Committee Reports
21.10.2021
A Senate committee in Australia has made a number of proposals to address the lack of proper regulations for the cryptocurrency space. The lawmakers believe the country needs new rules for its fintech and digital asset industries to be able to compete with jurisdictions that are already attracting...
US Senators Urge Facebook to Discontinue Crypto Wallet Pilot Citing ‘Insufficient’ Ability to Keep Consumers Safe
21.10.2021
A group of U.S. senators has asked Facebook CEO Mark Zuckerberg to discontinue his company’s crypto wallet pilot and commit to not bringing the cryptocurrency Diem to market. “Facebook cannot be trusted to manage a payment system or digital currency when its existing ability to manage...
Iran to Pilot ‘National Cryptocurrency,’ Amend Central Bank Law
19.10.2021
The central bank of Iran is gearing up to begin the pilot phase of its digital currency project in the near future, its new head announced to representatives of local media. The monetary authority is also preparing to move forward with a plan to reform the legislation that governs its...
The ‘Holding Billionaires Accountable’ Lie — Media, Big Tech Fact Checkers Mischaracterize Angst Toward Biden’s Tax Proposal
17.10.2021
U.S. citizens and financial institutions are concerned about the Biden administration’s goals to get banks to report to the Internal Revenue Service (IRS) aggregate inflows from a customer’s bank account annually that exceed $600. Mainstream media is reporting and Big Tech’s...
Russian Parliament to Consider Restrictions for Non-Qualified Crypto Investors
8.10.2021
Cryptocurrency can be quite complicated for some and lawmakers in Russia think they need to contemplate restrictions for private investors. According to a high-ranking representative of the legislature, the Russian parliament needs to provide them with “maximum protection” against...
Lawmakers in Kazakhstan Propose Registration for Crypto Farms, Higher Electricity Rate for Miners
7.10.2021
Members of the parliament in Kazakhstan have proposed the establishment of a state register for cryptocurrency farms operating in the country. Alarmed by the growing consumption of energy in the sector, the lawmakers also want to charge miners a higher price for the electricity they use. Mazhilis...
Janet Yellen Defends Tax Compliance Agenda — 3 State Treasurers Promise Not to Comply
6.10.2021
The 78th United States secretary of the treasury, Janet Yellen, is very concerned about tax evasion, according to statements she made during an interview with CNBC’s “Squawk Box” that aired on October 5. Yellen claims there’s an “enormous tax gap” and...
US Lawmakers Float the Idea of Minting a Trillion-Dollar Platinum Coin to Avoid Sovereign Debt Crisis
6.10.2021
American politicians have been clamoring about the U.S. facing a significant debt crisis and the debt ceiling putting the country at risk of default. Joe Biden spoke about the debt ceiling and told Republicans to “just get out of the way” when it comes to the decision. Meanwhile,...
Coinbase Meeting With US Lawmakers to Discuss Crypto Regulatory Proposal
4.10.2021
The Nasdaq-listed crypto exchange Coinbase has been meeting with members of Congress to discuss the cryptocurrency regulation it plans to propose, according to CEO Brian Armstrong. In addition, the company has met with more than 30 crypto firms, four major law firms, and three trade groups about...
US Lawmakers Urge Fed Chair Jerome Powell to Support Crypto Innovation
3.10.2021
Several U.S. lawmakers have called on Federal Reserve Chairman Jerome Powell to support cryptocurrency innovation. “The Federal Reserve must work to support domestic innovation … Our government should never be in the business of thwarting innovation.” Members of Congress Urge...
US Senators Introduce Bill Requiring Treasury to Report on Cryptocurrencies and Their Use Globally
29.9.2021
Two U.S. senators have introduced a bipartisan bill aimed at improving the oversight of cryptocurrency. The bill requires the Treasury Secretary to submit a report to Congress on cryptocurrencies and their competitiveness globally, including how other countries are using and mining them as well...
US Lawmakers See China’s Authoritarian Crackdown on Crypto as Big Opportunity
25.9.2021
Several U.S. lawmakers see China’s authoritarian crackdown on cryptocurrency, including bitcoin, as “a perfect opportunity for American leadership on cryptocurrency.” One senator noted that it is “a reminder of our huge structural advantage over China.”...
Iranian Lawmakers Oppose Crypto Restrictions, Call for Supportive Regulations
22.9.2021
Members of the Iranian parliament, the Majlis, have voiced concerns over Tehran’s restrictive policies towards innovations such as cryptocurrencies. Following the release of a study recommending a new approach towards the crypto industry, the lawmakers have called for the adoption...
US Lawmakers Propose to Subject Cryptocurrencies to Wash Sale Rule
17.9.2021
A committee of the U.S. House of Representatives has proposed to subject cryptocurrencies to the “wash sale” rule. Since cryptocurrencies are treated as property by the Internal Revenue Service (IRS), they are currently not subject to the wash sale rule. This proposal attempts...
IRS, Janet Yellen Press Lawmakers to Push ‘Tax Compliance Agenda’ — Banks to Report Deposits, Withdrawals of $600
16.9.2021
On Wednesday, U.S. Internal Revenue Service (IRS) commissioner Charles Rettig and Janet Yellen, the Treasury secretary, urged lawmakers to give the IRS permission to report annual inflows and outflows from American bank accounts. Regardless of tax liability, financial institutions across...
US lawmakers propose adding digital assets to 'wash sale' rule and raising capital gains tax
13.9.2021
If passed, the plan would raise the capital gains tax rate for "certain high income individuals" to 28.8%, while eliminating the "wash sale" loophole for crypto users
US lawmakers urge CFTC and SEC to form joint working group on digital assets
17.8.2021
The letter seems to be applying political pressure for the two government agencies to act on their own rather than waiting for a bill requiring the creation of such a group to become law