Crypto investors were fooled by a fake letter claiming to be from Senator Elizabeth Warren, suggesting a 1% tax on cryptocurrency assets worth over $500,000. It has been brought to light that a supposed recent letter from Warren proposing a 1% tax and mandatory reporting is apparently false. Upon closer inspection, the name at the … Read more
A proposed bill in the US Senate, called the Lummis-Gillibrand Payment Stablecoin Act, could positively impact stablecoin issuers according to TD Cowen’s analysis. Senators Kirsten Gillibrand and Cynthia Lummis introduced this legislation, which includes clear guidelines. Issuers must keep reserves equal in value to the stablecoins they issue (1:1 ratio), and algorithmic stablecoins are banned. … Read more
The Hong Kong Securities & Futures Professionals Association (HKSFPA) has proposed setting up a self-regulatory body for the crypto industry in Hong Kong. In their latest recommendation letter, they emphasized the importance of having an independent organization to manage industry growth, as they believe there is currently too much regulatory attention on one area. The … Read more
Two attorneys, Michael Welsh and Joseph Watkins, from the Securities and Exchange Commission (SEC), have stepped down following allegations of significant misrepresentations in a cryptocurrency investigation from the previous year. The report states that the two individuals were given an ultimatum: they had to leave their positions at the securities regulatory body or face termination, … Read more
After a Bitcoin halving event, three cryptocurrency projects referred to as Layer 2 protocols for Bitcoin have surpassed Bitcoin’s performance. Currently, Bitcoin (BTC) is being bought and sold for more than $65,000 based on the latest information from CoinGecko. Over the past day, its value has risen by 2.9%. This short-term price trend following Bitcoin’s … Read more