House Representative Gerald E. Connolly, a Democrat from Michigan, has urged the US Treasury to stop plans for a strategic cryptocurrency reserve. He argues that such a reserve would not benefit the American public but would instead enrich President Donald Trump and his associates. In a letter to Treasury Secretary Scott Bessent, Connolly criticized the ...
Illinois Governor JB Pritzker plans to address concerns about cryptocurrency ATMs in his upcoming State of the State address. His proposed legislation aims to combat scams and money laundering linked to these machines. Key features of the proposal include setting daily transaction limits, capping fees to prevent exploitation, and mandating receipts detailing the dollar value ...
The Nigerian government is moving towards taxing cryptocurrency transactions to boost revenue, with a new tax framework bill expected to be approved soon. The Securities and Exchange Commission (SEC) is working on establishing a formal taxation system for crypto transactions on regulated exchanges while also aiming to issue more licenses to these platforms. This initiative ...
The Nigerian government is moving forward with plans to tax cryptocurrency transactions as part of a broader strategy to boost revenue. A tax framework bill is currently under review and is expected to be passed soon. The Securities and Exchange Commission (SEC) aims to implement a formal tax system on qualified transactions, anticipating substantial tax ...
The cryptocurrency landscape, particularly Bitcoin, has evolved significantly in the last decade, leading to greater scrutiny from governments and regulators due to large transactions, such as converting 10,000 BTC to USD. This kind of transaction, worth hundreds of millions, raises concerns about tax evasion and money laundering, prompting authorities to enforce stricter regulations like Anti-Money ...
Outgoing CFTC Chair Rostin Behnam urged for stronger cryptocurrency regulations during his final speech at the Brookings Institution. He emphasized that as cryptocurrencies increasingly blend with traditional finance, clearer rules are necessary to avoid long-term risks. Behnam noted that the process to pass new crypto legislation could take six to ten months, with additional time ...
