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TREASURY DEPARTMENT

US IRS finalizes controversial tax rule requiring 'DeFi brokers' to collect user trading information

The IRS has finalized rules for DeFi brokers to report on digital asset sales, aligning crypto tax reporting with traditional assets, effective January 1, 2027.

theblock.co • 27/12/2024 - 17:29 PM

2024 ELECTIONS TREASURY DEPARTMENT

MicroStrategy founder Michael Saylor advocates for Trump-backed 'strategic bitcoin reserve' in proposal to set crypto industry standards

In his “Digital Asset Framework” published on Friday, MicroStrategy founder Michael Saylor supports the idea of creating a strategic bitcoin reserve to help eliminate the national debt. The document also argues for creating a universal taxonomy and set of industry standards for the wider crypto industry.

theblock.co • 20/12/2024 - 21:39 PM

2024 ELECTIONS FEDERAL RESERVE TREASURY DEPARTMENT

'We're not allowed to own bitcoin,' Fed Chair Powell says in light of Trump's strategic bitcoin reserve promise

Fed Chair Jerome Powell stated the U.S. cannot hold bitcoin and isn't seeking legal changes despite political support; bitcoin investments are being considered in other states.

theblock.co • 18/12/2024 - 21:24 PM

AIRDROP BITCOIN COURT HEARINGS CRYPTO ETHEREUM EUROZONE REGULATION LAWSUITS MEV SANCTIONS TREASURY DEPARTMENT

The Daily: US appeals court rules OFAC exceeded its authority in Tornado Cash sanctions, WalletConnect launches its first airdrop season and more

The Fifth Circuit Court of Appeals ruled on Tuesday that the Treasury Department’s Office of Foreign Assets Control (OFAC) ”overstepped its authority” by sanctioning crypto mixer Tornado Cash, reversing a lower district court decision. WalletConnect has launched its first airdrop season and eligibility checker, allocating 50 million of the total supply of 1 billion WCT tokens to over 160,000 users, including builders and contributors. A Brazilian lawmaker has introduced a bill to create the Strategic Sovereign Bitcoin Reserve, allocating up to 5% of the nation’s $372 billion financial assets to the cryptocurrency via a phased acquisition strategy. The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.

theblock.co • 27/11/2024 - 18:43 PM

2024 ELECTIONS TREASURY DEPARTMENT

Trump nominates hedge fund manager Scott Bessent as Treasury secretary

President-elect Donald Trump tapped Bessent on Friday amid a flurry of administrative nominations. “Crypto is about freedom, and the crypto economy is here to stay,” the former hedge manager has stated.

theblock.co • 23/11/2024 - 16:52 PM

BITCOIN BLACKROCK COINBASE CRIME DONALD TRUMP MINING COMPANIES TETHER TOKENIZATION TREASURY DEPARTMENT

The Daily: Trump nominates pro-bitcoin Lutnick for Commerce Secretary, Metaplanet shares jump 15% after latest BTC acquisition and more

President-elect Donald Trump has nominated the crypto-friendly Howard Lutnick to lead the U.S. Department of Commerce. Shares in the Japanese investment firm Metaplanet gained more than 15% on Tuesday after the company announced its latest bitcoin acquisition. Tokenization firm Securitize has introduced the “sToken,” a new way to gain liquidity from real-world assets while still earning a yield, using the ERC-4626 token standard. The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.

theblock.co • 19/11/2024 - 20:31 PM

COINBASE SEC TREASURY DEPARTMENT

Coinbase CEO to meet Trump to discuss 'personnel appointments': Wall Street Journal

Coinbase CEO Brian Armstrong to meet Donald Trump for personnel discussions amidst cabinet appointments involving crypto-friendly figures, impacting the cryptocurrency industry significantly.

theblock.co • 18/11/2024 - 21:23 PM

SEC TREASURY DEPARTMENT

Lawmakers urge Treasury crack down on crypto mixers amid Tornado Cash sanctions

U.S. lawmakers urge the Treasury to investigate crypto mixing services like Tornado Cash due to concerns over illicit finance and national security, seeking answers by December 2.

theblock.co • 18/11/2024 - 16:43 PM

TREASURY DEPARTMENT USDC

USDC issuer Circle unveils new compliance tool for programmable wallets

Circle has launched the Compliance Engine, a new tool for programmable wallets that focuses on regulatory compliance and risk detection for decentralized applications.

theblock.co • 24/09/2024 - 17:11 PM

CENSORSHIP COURT HEARINGS CRIME LAWSUITS MIXERS SANCTIONS TREASURY DEPARTMENT

Privacy concerns loom in Samourai Wallet court case

Keonne Rodriguez, founder of Samourai Wallet, denied bail modifications amid serious money laundering charges, with implications for crypto software developers and ongoing legal challenges for related cases.

theblock.co • 19/09/2024 - 19:37 PM

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