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09 Mar 23

Biden Budget Plan proposes taxes to reduce crypto wash trades

U.S. President Joe Biden’s proposed budget will be released on March 9, including a stipulation for tax loss loopholes on crypto transactions. The budget blueprint will include a provision to reduce wash sales. Currently, crypto investors can trade any cryptocurrency at a loss, claim the losses on taxes, and buy the same token at the […]

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02 Mar 23

South Dakota proposes bill to define cryptos legally

The state of South Dakota has introduced a new bill to redefine the concept of money, particularly concerning cryptocurrencies. South Dakota’s proposed bill could affect cryptocurrency regulation The new bill titled “An Act to amend provisions of the Uniform Commercial Code” has been introduced. It proposes that digital currencies like bitcoin (BTC) should not be […]

US Regulations 1

22 Dec 22

US Senator proposes bill for better stablecoin legislation

Outgoing Pennsylvania Senator Pat Toomey on Wednesday introduced a bill that he expects would serve as a model for stablecoin legislation in the coming year. The bill seeks to give stablecoin an immunity status from the regulatory powers of the security and exchange commission (SEC) and the Commodities Futures Trading Commission (CFTC) Senator Pat Toomey’s […]

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