Senator Cynthia Lummis of Wyoming has recently spoken out against the Biden administration’s plan to impose a 30% tax on Bitcoin miners. She believes that this tax would be detrimental to the industry, stifling innovation and potentially forcing mining operations to move overseas. In a social media post on July 23, Senator Lummis stated that
Regulation
The world of cryptocurrency and digital assets regulation is constantly evolving, with new challenges and opportunities emerging at every turn. In a recent interview, Joey Garcia, Director and Head of Regulatory Affairs and Public Relations at Xapo Bank, shared his journey and insights into the evolution of digital assets regulation. Let’s take a closer look
Senator Cynthia Lummis of Wyoming made headlines with her groundbreaking proposal to use Bitcoin to supercharge the US dollar and pay off the national debt. The proposal, known as the “Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act,” aims to establish a Strategic Bitcoin Reserve to manage the Federal Government’s Bitcoin holdings
The Bahamas Securities Commission recently passed the Digital Assets and Registered Exchanges Act, 2024 (DARE 2024), marking a significant milestone in the country’s digital assets industry. This move comes nearly two years after the collapse of FTX, a major exchange headquartered in the Bahamas in 2022. Christina Rolle, the executive director of the Securities Commission,
Jonathan Mann, known for his daily songwriting streak of over sixteen years, has teamed up with conceptual artist Brian L. Frye to file a lawsuit against the US Securities and Exchange Commission (SEC). The crux of the matter lies in the classification of NFTs representing digital art, such as those created by Mann and Frye,
Recently, the US Securities and Exchange Commission (SEC) has taken legal action against Nader Al-Naji, the mastermind behind the BitClout blockchain protocol. The SEC accused Al-Naji of engaging in a fraudulent scheme that involved the unauthorized sale of crypto asset securities, duping investors out of more than $257 million through deceptive practices. Additionally, the US
Goldman Sachs CEO David Solomon recently shared his perspective on Bitcoin, stating that while it could “very well” serve as a store of value similar to gold, he remains cautious about the flagship cryptocurrency. Solomon emphasized that he has never been a critic of Bitcoin, but he still sees it primarily as a speculative investment
The recent surge in support for digital assets, particularly Bitcoin, has brought about a shift in global attitudes towards cryptocurrency. Former President Donald Trump’s vow to make the US a leading force in the crypto industry has raised eyebrows worldwide. This comes at a time when China, once a powerhouse in Bitcoin mining and trading,
President Donald J. Trump has declared his intention to transform the United States into a dominant force in the world of Bitcoin. He emphasized the significance of maintaining the US’s superiority over competitors such as China and ensuring that the government does not sell the 200,000 Bitcoin it currently holds. One of Trump’s key promises
A recent letter penned by a group of Democratic politicians addressed to the Democratic National Committee (DNC) has urged the party to shift its stance on cryptocurrency. The letter advocates for a more forward-looking approach to digital assets and blockchain technology, emphasizing the potential these innovations hold for American innovation, economic growth, and financial inclusion.
