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General counsel to Compound Labs, Jake Chervinsky, has warned that the Treasury Department wants to “capture” the DeFi sector through the crypto provisions added to the infrastructure bill. Go to Source Powered by WPeMatico
Crypto trader and investor Scott Melker, also known as “The Wolf of All Streets,” expects the price of bitcoin to hit new all-time highs by the end of the year. “I would not be surprised at all to see bitcoin trading in six figures within the next six to 12 months, or ethereum even pushing … Read more
Some saw beneficial effects from the week’s legislative face-off. Still, “crypto and blockchain technology is at a significant moment.” Go to Source Powered by WPeMatico
U.S. Representative Anna Eshoo has asked House Speaker Nancy Pelosi to amend the crypto provision in the $1.2 trillion infrastructure bill that the Senate passed this week. She urged the House to adopt the bipartisan amendment supported by the Treasury Department that provides a solution. Rep. Eshoo Asks Pelosi to Amend ‘Harmful Language’ on Crypto … Read more
When Satoshi Nakamoto released the Bitcoin white paper in October 2008, it likely wasn’t with the idea that governments and central banks needed to recognize, adopt, and regulate Bitcoin for everyone’s benefit. To the contrary, if anything can be taken away from that document and the message encoded in the genesis block, it’s that centralized … Read more
The U.S. Senate has passed the $1.2 trillion infrastructure bill with a crypto reporting requirement provision that has been described as “unworkable.” Senator Ted Cruz warned: “This infrastructure bill has in it a portion that is designed to obliterate crypto. That would be a tragic mistake.” Senate Passes Infrastructure Bill With ‘Unworkable’ Crypto Tax Provision … Read more
The Federal Reserve Bank of New York published the Survey of Consumer Expectations report on Monday, which shows U.S. consumers are expecting short-term inflation levels to be higher than usual. Meanwhile, the report also shows American consumers’ expectations of long-term inflation have reached the highest level since 2013. New York Fed’s Survey of Consumer Expectations … Read more
Five U.S. senators have been working with the Treasury Department and have come up with a compromise crypto amendment to the $1.2 trillion infrastructure bill. “We’ve worked with the Treasury Department to clarify the underlying text and ensure that those who are not acting as brokers will not be subject to the bill’s reporting requirements.” … Read more
Senate talks regarding the controversial crypto provisions to the U.S. infrastructure bill have ended without amendment, suggesting the original bill will be voted on come Tuesday. Go to Source Powered by WPeMatico
U.S. Senator Mike Lee has raised concerns that adopting the crypto tax provision in the $1.2 trillion infrastructure bill will stifle innovation and make Americans poorer. He explained that cryptocurrencies are not like securities and cannot be regulated with the same policies, noting that to do so would drive innovation offshore. Senator Mike Lee Warns … Read more
