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Lawmakers Want Answers From IRS, Citing Major Issues With Crypto Tax Guidance


Eight lawmakers have sent a letter to the IRS seeking answers to new questions stemming from the latest crypto tax guidance. They pointed out a number of major issues including unwarranted tax liabilities for crypto users who unwillingly receive forked or airdropped coins. Also read: Regulatory...

New Ukrainian Law Says ‘Virtual Assets’ Can Be Used for Payments


The Verkhovna Rada, Ukraine’s legislature, has approved amendments that introduce legal terms and definitions pertaining to the crypto space. The new legislation, which aims to transpose the FATF standards into national law, also identifies who is to take responsibility for the oversight...

EU Finance Ministers Place Defacto Ban on Libra


Libra’s ongoing organizational snags and run-ins with regulators continue into December, as EU finance ministers agreed Thursday that Libra cannot be launched in the EU until concerns are adequately addressed. The finance ministers issued a joint statement citing regulatory “challenges...

U.S. Warns Visa, Mastercard to ‘Proceed With Caution’ Regarding Libra


In the wake of Paypal’s very public exit from the Libra project, U.S. lawmakers are now pressuring Stripe, Visa and Mastercard to rethink their membership of the Libra Association as well. On October 8, three letters from two U.S. senators urged the tech and finance giants to “carefully...

Lawmakers to Fed: 'The Nature of Money is Changing" + More Crypto News


Crypto Briefs is your daily, bite-sized digest of cryptocurrency and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. Adoption news Two American congressmen have suggested that the United States should create a “digital dollar.” Republican...

Why Did These Two Lawmakers Buy Marijuana with Stablecoin


Source: iStock/Adventure_Photo We’re seeing digital tokens in many places these days, but there are still many firsts to experience, especially when it comes to seeing unexpected people using digital assets to buy unexpected things. Such is the case this time around, with California lawmakers going...

Libra ‘Concerns Remain’ for US Lawmakers after Switzerland Talks


Maxine Waters. Source: a video screenshot, YouTube, NBC News The head of the United States House of Representatives’ Financial Services Committee says that it is still “concerned” by Facebook’s proposed Libra stablecoin despite extensive meetings with politicians and financial regulators...

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