On Nov. 1, the United States President’s Working Group on Financial Markets (PWG) released its long-anticipated report and policy recommendations on stablecoins. The document’s main focus is on prudential risks that “payment stablecoins” — or those meant to maintain a stable value against a reference fiat currency — could pose to users and financial stability.The PWG’s key … [Read more...] about SEC won’t lead regulation, Congress urged to act
Act
Biden’s ‘Build Back Better’ Act Would Close Crypto Tax Loophole
A new draft of the Build Back Better Act – U.S. President Joe Biden’s hoped-for spending bill – still contains language meant to close tax loopholes that cryptocurrency investors could exploit.A section of the Rules Committee print of the bill, dated Oct. 28, adds cryptocurrency transactions to the constructive sale rule. The rule addresses transactions that would be subject to … [Read more...] about Biden’s ‘Build Back Better’ Act Would Close Crypto Tax Loophole
NFTs in space, defunct CryptoPunks, Ernst & Young gets in on the act
One small step for NFTs...Two companies teamed up to stream a recording of composer Claude Debussy’s “Clair de Lune” to, and from, the International Space Station on July 28, reportedly marking the first instance in which a nonfungible token (NFT) has orbited the Earth.The orbital NFT expedition is the product of a partnership between Artemis Music Entertainment and space … [Read more...] about NFTs in space, defunct CryptoPunks, Ernst & Young gets in on the act