Highlights US House Ways and Means Committee introduces seven drafts aimed at simplifying digital asset taxation. Advocates push for reduced tax burdens on crypto transactions, mining, and staking, including a proposed “de minimis” exception. Illinois moves towards a 0.2% tax on crypto transactions as part of its latest state budget....
Category: NFT News
Major Changes Ahead: Binance Exchange to Suspend NFT Services and Transition Management to Binance Wallet!
Highlights Binance ceases NFT support on its exchange, transitioning management to the Binance Wallet. NFT holders must withdraw their assets by July 3, 2025, or risk losing access. The NFT market is experiencing a significant downturn, with major collections dropping below previous high valuations. Transitioning NFT Management In a significant...
Senator Lummis Sounds Alarm: China Could Surpass US in Crypto if CLARITY Bill Delays Continue!
Highlights Wyoming Senator Cynthia Lummis warns that the U.S. risks losing its crypto leadership to countries like China if the Digital Asset Market Clarity Act is not passed. JPMorgan CEO Jamie Dimon has voiced strong opposition to the current version of the CLARITY Act, citing regulatory concerns related to anti-money...
Astounding Move: US Government Takes Control of Nearly $1 Billion in Iranian Cryptocurrency, Confirms Treasury Secretary
Highlights The U.S. government has seized approximately $1 billion in Iranian cryptocurrency assets as part of its financial pressure campaign against Iran. Operation Economic Fury aims to disrupt Iranian finances through targeted asset seizures and international collaboration. Iran is exploring a Bitcoin-based insurance scheme to capitalize on its strategic location...
