Taxation should encourage prosperity, not stifle it. Yet, the current U.S. tax code punishes ordinary cryptocurrency miners and stakers twice for the same income stream—first at the moment they earn crypto rewards, then again when they sell those assets. Senator Cynthia Lummis’ recent proposal to amend the “One Big Beautiful Bill” (OBBB) aims to correct
Regulation
The global regulatory landscape for virtual assets has become a glaring demonstration of stagnation rather than progress. The Financial Action Task Force (FATF), the leading authority in combating illicit financial flows, recently underscored that despite some advancements in crypto oversight, the current framework remains woefully insufficient and dangerously fragmented. This regulatory patchwork is not just
In a rapidly changing landscape, the cryptocurrency sector has long grappled with regulatory uncertainty. Kraken’s recent acquisition of a full Markets in Crypto-Assets (MiCA) license from the Central Bank of Ireland stands as a watershed moment not just for the exchange itself, but for the broader digital asset ecosystem in Europe. By securing this significant
The Federal Housing Finance Agency (FHFA) has embarked on a groundbreaking journey to incorporate cryptocurrency into its mortgage risk assessment framework. Under the directive issued by Director William J. Pulte, Fannie Mae and Freddie Mac can now treat cryptocurrency assets as eligible reserves without the need to convert them into fiat currency. This monumental shift
The recent release of a seven-point framework by the Senate Banking Committee signals a pivotal moment in the rapidly evolving landscape of digital assets. As the debate rages on regarding the proper regulation of cryptocurrencies and blockchain technologies, the framework, spearheaded by high-profile figures like Senators Tim Scott and Cynthia Lummis, aims to forge a
In a political climate where government initiatives often move at a snail’s pace, Texas has thrown down a bold gauntlet by establishing its Bitcoin reserve, a monumental leap towards financial autonomy and a clear rejection of federal inertia. Governor Greg Abbott’s recent signing of Senate Bill 21 not only empowers Texas to invest taxpayer dollars
Recent developments in the cryptocurrency arena have put the United Kingdom at a critical junction, particularly following Ripple’s recent four-point proposal aimed at establishing the UK as a global blockchain hub. This proposal by Ripple signifies a battleground on which nations are vying for crypto supremacy, illustrated by the pressing call for the UK to
On June 18, trading in Circle’s CRCL shares invigorated the financial chat rooms with a staggering 34% surge, closing at an impressive $199.59 after peaking at an unprecedented $200.90. To put this in context, this meteoric rise represents a jaw-dropping 6.5-fold increase from the company’s initial public offering price of $31 just two weeks earlier.
The ongoing legal battle between Ripple Labs and the U.S. Securities and Exchange Commission (SEC) serves as a glaring example of how aggressive regulatory actions can undermine innovation in the burgeoning cryptocurrency sector. Initially sparked by allegations in December 2020 that Ripple sold XRP as an unregistered security, this saga has witnessed a whirlwind of
In a noteworthy shift that ripples through the financial industry, the U.S. Securities and Exchange Commission (SEC) has decided to roll back 14 proposed rules, the majority of which had targeted the crypto sphere with a heavy hand. This strategic withdrawal is not just a reactionary measure but rather a risk-laden acknowledgment that excessive regulatory
