Senator Cynthia Lummis of Wyoming recently voiced her concerns over the Biden administration’s proposal to implement a 30% tax on Bitcoin miners. She claimed that such a high tax rate could hinder innovation and drive mining operations overseas, impacting both economic and national security interests. In response, Lummis released an “orange paper” outlining her objections
Regulation
During a meeting on July 17, Russian President Vladimir Putin expressed his concerns regarding the potential power shortages that could arise due to the uncontrolled electricity consumption of Bitcoin and other crypto mining facilities in various regions of the country. He highlighted areas such as the Irkutsk region, Buryatia, and Trans-Baikal Territory as already experiencing
Joey Garcia, the Director and Head of Regulatory Affairs at Xapo Bank, has been at the forefront of shaping regulatory frameworks for digital assets. His journey with Xapo Bank began in 2014 when he was approached by Wences Casares to establish a regulatory framework for cryptocurrencies in Gibraltar. Despite facing initial skepticism and resistance from
US Senator Cynthia Lummis (R-WY) recently made headlines with her proposal to use Bitcoin to supercharge the US dollar and address the national debt crisis. This led to the introduction of the “Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act” in the Senate on July 31. The legislation aims to establish a
The Bahamas Securities Commission recently introduced the Digital Assets and Registered Exchanges Act, 2024 (DARE 2024) to provide much-needed regulatory clarity in the digital assets industry. With the aim of re-establishing the country as a leading pro-crypto hub, this new legislation sets a higher standard in digital asset regulation. According to Christina Rolle, the executive
Jonathan Mann, a well-known songwriter who has been creating a song daily for over sixteen years, and conceptual artist Brian L. Frye, have taken a bold step by filing a lawsuit against the US Securities and Exchange Commission (SEC). The crux of the matter lies in the classification of Non-Fungible Tokens (NFTs) representing digital art,
Recently, the US Securities and Exchange Commission (SEC) has taken legal action against Nader Al-Naji, the founder of the BitClout blockchain protocol, which is now known as Decentralized Social (DeSo). The charges filed against Al-Naji involve allegations of orchestrating a fraudulent scheme related to the unregistered offering and sale of crypto asset securities, resulting in
Goldman Sachs CEO David Solomon recently shared his views on Bitcoin in a CNBC interview, stating that he believes Bitcoin could serve as a store of value similar to gold. Despite this acknowledgment, Solomon remains cautious about the cryptocurrency, viewing it primarily as a speculative investment lacking a clear use case. While he finds the
The recent comments made by Tron founder Justin Sun urging China to reconsider its stance on Bitcoin policies in response to former President Donald Trump’s support for digital assets have sparked a debate on the global stage. Trump’s declaration at the Bitcoin2024 conference in Nashville, promising to solidify the US as a powerhouse in the
The recent letter penned by a group of Democrat politicians urging the Democratic National Committee (DNC) to shift towards a more crypto-friendly stance has sparked a debate within the party. While it is commendable that these politicians recognize the potential of blockchain technology and digital assets for American innovation and economic growth, it is essential