congress

‘Digital Dollar’ Stripped From Latest US Coronavirus Relief Bill

Mentions of a “digital dollar” in a coronavirus-related relief bill before the U.S. House of Representatives have been scrubbed. The lawmakers introduced the bill last week, envisioning a digital payment system organized by the Federal Reserve and its member banks to directly send these funds to U.S. residents to assist them with expenses during the …

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In COVID-19 Stimulus, US Congress Eyes Digital Dollar to Send Aid to the Unbanked

Amid contentious debate over the massive stimulus package in response to the coronavirus pandemic, Democrats in the United States House of Representatives look to implement the digital dollar to streamline payments to U.S. citizens outside of the traditional financial system. A digital dollar for direct payments to families  A draft of the legislation circulating as …

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This Is What a Productive Congressional Blockchain Hearing Looks Like

For once, U.S. lawmakers had an informative conversation about blockchain technology without posturing.  It was a sharp contrast from past Capitol Hill proceedings, when lawmakers took their entire allotted time to compare Libra to terrorist attacks or ask pointed questions about how Silicon Valley is biased toward one partisan slant or another. Rather, the small-business …

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Crypto Taxes a ‘Nightmare’ — Congress Hears the Latest on Blockchain for Small Business

In a United States congressional meeting titled “Building Blocks of Change: The Benefits of Blockchain Technology for Small Businesses,” one of the testifying witnesses called out current cryptocurrency taxation expectations for their overbearing complexity.  “Doing your taxes for crypto is the worst nightmare,” Protocol Labs General Council member Marvin Ammori said, fielding a question from …

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Trump Views Crypto a Threat, Proposes Countermeasures in New Budget

</header> <strong>The White House released the Budget of the U.S. Government on Monday, outlining some proposals to increase cryptocurrency oversight which President Donald Trump views as priorities. The budget proposes giving the Treasury more power over crypto and requests funding for FinCEN to expand its efforts to combat threats including from cryptocurrency.</strong> Also read: Bitcoin, …

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Top 10 Congresspeople Working on Crypto Policy

Following a year that has seen unprecedented interactions between United States legislators and the crypto industry, Cointelegraph has compiled a roster of congresspeople who have established stances and policies for blockchain and cryptocurrency that will shape the future of the industry within the country.  Some of the congresspeople listed are bullish on blockchain, while some …

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Spill Your Sats: US Tax Advisor Tells Crypto Customers to Self-Report on Taxes, Even If Imperfectly

</header> <strong>Tax season for United States residents is fast approaching, and the IRS wants to know about everyone’s involvement in the crypto space. Thanks to a recently updated income tax form including a question about crypto activity, tax preparation companies like H&R Block are advising filers to be sure to disclose their details. The service …

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Meet the Crypto Angel Investor Running for Congress in Nevada

“I would love to sit down with President Trump and have a discussion around bitcoin and cryptocurrency,” Lisa Song Sutton, an entrepreneur and bitcoin ATM investor in Las Vegas, told CoinDesk. Sutton might have a better shot than most at having such a conversation. She’s running for Congress in the Fourth Congressional District of Nevada, …

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John McAfee Plans to Tokenize All 535 Members of US Congress

</header> <strong>On Saturday, the notorious John McAfee revealed a new project he’s launching that aims to tokenize all 535 members of U.S. Congress in order to sell them on the open market. McAfee said that the U.S. representative tokens will be listed on his exchange McAfeedex so people can find out what their “representative is …

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8 Congress Reps Send Letter to IRS Urging Further Crypto Tax Clarity

Eight members of the United States (U.S.) Congress sent a letter to the Internal Revenue Service (IRS) urging the agency to provide additional clarity on cryptocurrency tax laws.  A letter dated Dec. 20, signed by eight U.S. Congress members, stated: “We wrote in April of this year urging the issuance of guidance for taxpayers who …

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