U.S. Senator Pat Toomey has called on Congress to stop the Treasury Department from maximizing its ability to regulate and tax crypto by picking winners and losers. “Congress should not allow that to happen,” he said. US Senator Urges Lawmakers Not to Crush Crypto Innovation Following the endorsement of a crypto tax amendment by the…
U.S. Treasury Secretary Janet Yellen has reportedly raised objections to lawmakers about the cryptocurrency tax amendment to the $1 trillion infrastructure bill that is supported by the crypto community. The White House subsequently announced its support for a competing amendment. Yellen Exerting Influence on Lawmakers Regarding Crypto Taxation The new crypto tax proposal in the…
As more investors want to profit from the developing business, crypto usage is increasing by the day. According to research by Crypto.com, virtual currency adoption has nearly doubled since Bitcoin’s stunning surge to $65,000. However, considering the plethora of digital assets accessible, how can you decide which top cryptocurrency to invest in for long-term gains?…
Truefi, an uncollateralized loan platform, has raised $12.5 million from three important investors. The token sale was led by Blocktower, a New York-based cryptocurrency investment firm. Other important investors were Alameda Research — owned by Sam Bankman-Fried, founder of FTX — and A16z. Truefi is one of the few uncollateralized defi-based lending protocols in the…
Recent developments in the cryptocurrency world, like Bitcoin’s freefall from $ 65,000 in April to under $40,000, have refocused attention on the rules that regulate India’s cryptocurrencies. Over $1 billion in cryptos has been pumped by approximately 7 million Indians. The Future of Cryptocurrency In India, the government faces a difficult task in enabling the…
Genesis Digital, a leading cryptocurrency trading, lending, and custody desk, released its Q2 reports, where it confirms what it calls the “emerging role” that Ethereum and defi have in the industry. The report also confirms that institutional interest in crypto is still rising despite the crash in prices the market experienced in Q2 2021. Genesis…
