Tag: Pat Toomey
U.S Treasury Says Crypto Miners Exempt From IRS Reporting Rules
The U.S. Treasury has clarified that the crypto miners and wallet operators are exempt from the Internal Revenue Service’s reporting rules. In a letter sent to a group of senators on Friday and first seen by Bloomberg, the Treasury addressed concerns that the recently passed infrastructure bill would capture virtually all entities in the crypto […]
The post U.S Treasury Says Crypto Miners Exempt From IRS Reporting Rules appeared first on Coin Bureau.
With Sarah Bloom Raskin Up For Big Fed Role, Will Regulation Turn Against Bitcoin?
US Treasury reiterates that the IRS won’t consider crypto miners, stakers or coders to be brokers
"Persons who are just validating transactions through a consensus mechanism are not likely to know whether a transaction is part of a sale," according to the Treasury.
The post US Treasury reiterates that the IRS won’t consider crypto miners, stakers or coders to be brokers appeared first on The Block.
Digital Yuan Transactions Overtakes Visa during Beijing Winter Olympics
According to a Wall Street Journal, at the opening ceremony of the 2022 Winter Olympics in Beijing, the number of transactions using the digital yuan greatly exceeded that of Visa. (Read More)
China Debuts Digital Yuan At Olympics
China is testing out a central bank digital currency (CBDC) during the 2022 winter Olympics while the rest of the world still remains in a research and development phase. The digital yuan (eCNY) is currently being offered to athletes and foreign visitors to Olympic Village in Beijing, as well as cash or Visa cards. The […]
The post China Debuts Digital Yuan At Olympics appeared first on Coin Bureau.
U.S. Should Examine Chinese Digital Yuan Rollout during Winter Olympics: Senator Toomey
Senator Pat Toomey, a senior member of the U.S. Senate Banking Committee, urges the Treasury and State Departments closely examine Beijing’s CBDC rollout during the Olympic Games. (Read More)
US Senator Ted Cruz Bought the Bitcoin Dip, Discloses BTC Purchase Worth up to $50K
Senator sounds the alarm on international rollout of digital yuan during Beijing Olympics
In light of media crackdowns, social scoring and human rights abuses within China, a digital yuan strikes this Senator as a tool of control.
The post Senator sounds the alarm on international rollout of digital yuan during Beijing Olympics appeared first on The Block.