Following major sell-offs in cryptocurrency markets amid reports of United States President Joe Biden’s capital gains tax rise proposal last week, the Biden administration defended nearly doubling tax levies for only the “very, very richest.” A senior Biden administration official claimed that only 0.3% of taxpayers in the U.S. would be affected by higher levies
Regulation
For most of the last decade, India’s stance on cryptocurrencies has been uncertain, to say the least. The current soft ban is hurting the country’s potential every day, but recent reports suggest the country is having second thoughts. In March this year, a notification published by the Ministry of Corporate Affairs stated that companies dealing
Seems like we now all have stories starting with, “What I did during the pandemic…” Most begin with cleaning out the closet and, hey, guess what? That’s where my story starts, but I bet you can’t guess where it ends! Let’s start with what I found in that closet: family photos before the days of
As central bank digital currencies, or CBDCs, continue to garner mainstream traction across the global financial landscape in recent years, almost all central banks are actively researching the benefits and risks of offering a digital currency to the public. In its most basic sense, a CBDC is a digital form of fiat money, backed by
It has been four months since the Brexit trade deal came into effect between the United Kingdom and the European Union. The deal, in common with other free trade agreements, does very little to support the export of financial services from the U.K. into the single market. As a result, spring has seen financial services
As a countrywide cryptocurrency ban looms, multiple Turkish exchanges have now come under investigation with four employees of the recently-shuttered Vebitcoin exchange arrested this morning for allegations of fraud. Last night, Vebitcoin announced it would be ceasing operations in a short statement posted on its website, claiming that unspecified financial strain led to the decision
Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link. Top Stories This Week Bitcoin tumbles 10% in 12 hours and falls below $50,000
Legislators in the United Kingdom have asked for greater regulatory powers to combat the rise of financial “greenwashing” — a deceptive practice where a company overstates or fabricates the extent of its green energy usage. A report by the House of Commons cross-party Treasury Committee urges the U.K. government to sharpen its definition of environmentally
The city government of South Korea’s capital Seoul has announced the seizure of cryptocurrencies worth 25 billion won ($22 million) from individuals and company heads. According to a report by The Korea Times, the confiscated crypto came from people identified as tax delinquents by the city’s tax collection agency. As part of the investigation, the
Bitcoin has gained increasing levels of adoption over the past several months amid its rise past $60,000. Louisiana’s state government recently released a resolution in which it noted some of Bitcoin’s (BTC) accomplishments. “THEREFORE, BE IT RESOLVED that the House of Representatives of the Legislature of Louisiana does hereby commend Satoshi Nakamoto for his contribution
Growing up in poverty in Suriname, Etiënne vantKruys was told by his teacher he’d never succeed — but it only made him more determined to not follow in the footsteps of his parents. Thanks, in part, to crypto, he’s now living the dream. Despite his high-flying crypto VC lifestyle today, vantKruys keeps at least one
The big news this week happened on April 16th, when a major power outage in Xinjiang wreaked havoc on the BTC hash rate. According to local sources, the hash rates on Ant Mine Pool fell by 21.93%, BTC.com by 18.5%, Binance Mine Pool by 22%, and Huobi Mine Pool by 25.5%. Reports from Cointelegraph linked
Jackson, Tennessee is the latest city in the United States moving to adopt Bitcoin (BTC) payments and mining, following recent crypto developments in Florida. Jackson Mayor Scott Conger announced Wednesday that the city is actively exploring the option to pay its employees in cryptocurrency in addition to mining Bitcoin and adding it on the city’s
A British government-sanctioned task force has proposed a dispute resolution framework that would keep cryptocurrency and smart contract disagreements out of the courts. A 14-page report published by LawTechUK’s “U.K. Jurisdiction Taskforce” puts forward new Digital Dispute Resolution Rules that aim to provide a standardized means of dealing with smart contract disputes. Under the remit
The U.S. House of Representatives on Tuesday passed H.R. 1602 — the Eliminate Barriers to Innovation Act — introduced by Congressman Patrick McHenry (R-NC). H.R. 1602 was among six bipartisan financial services-related bills passed by Congress on Tuesday with the McHenry-sponsored legislation focusing on regulatory clarity for cryptocurrencies. Introduced back in March, the bill seeks
The Norwegian Tax Administration has issued a warning to crypto traders in advance of Norway’s April 30 deadline to file tax returns. According to a notice from the Norwegian Tax Administration on Wednesday, the government agency advises all taxpayers who owned or sold crypto in 2020 to enter it on their returns or “risk paying