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Crypto
U.S. Senate introduces crypto tax bill, proposes tax exemption for stablecoin payments
U.S. Republican Senator Steve Daines introduced a crypto tax overhaul bill on Sept. 30 that would exempt taxes on stablecoin payments and small network fees. The proposal seeks to reduce tax burdens for everyday crypto use while extending anti-avoidance rules used for stocks to cryptocurrencies. It would exclude certain U.S. dollar stablecoin purchases from capital gains and reporting requirements and set limits for network-fee transactions, with exclusions for traders, dealers and others.
Crypto
Illinois delays 0.2 percent digital asset tax by six months
Illinois will delay implementation of its 0.2 percent digital asset tax by six months. The start date moves from Jan. 1, 2027 to July 1, 2027, Cointelegraph reported. The change comes amid industry opposition and litigation. The Digital Chamber said state officials agreed to the delay in a court filing. The tax was enacted after Governor JB Pritzker signed a budget measure in June.
Crypto
Bitcoin ETFs see biggest outflow since June after Clarity bill fails
U.S. spot bitcoin exchange-traded funds saw $450.4 million flow out in a single day, the biggest net outflow since June 24, Decrypt reported. Ethereum ETFs also posted a $142.3 million net outflow, while XRP funds were flat. The move coincided with the U.S. Senate failing to advance the Clarity bill on digital asset market structure, after a 49-50 vote fell short of the 60 votes needed.
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Crypto
U.S. crypto industry goes to court to block Illinois 0.2 percent tax on coin trades
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Crypto
White House crypto adviser to take months-long leave for military training, new variable for CLARITY Act
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Crypto
U.S. Senate cools to crypto pitch on cost of living relief
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Crypto
U.S. crypto industry seeks tax exemption for mining, staking rewards; passage unclear this year
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Crypto
U.S. CLARITY bill faces last-minute tug of war ahead of July 4 recess over three key hurdles
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Crypto
U.S. community banks launch campaign against Clarity bill over stablecoin rewards
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Crypto
Pressure builds for Clarity Act Senate vote, but prediction markets see August deadline unlikely
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Crypto
Crypto industry urges U.S. Senate to vote on CLARITY Act as Coinbase, Ripple join
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Crypto
U.S. Senate to resume review of CLARITY Act as crypto industry welcomes move
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Crypto
CLARITY Act may pick up pace in U.S. Senate as stablecoin reward dispute eases
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Crypto
U.S. senator urges delay of CLARITY Act until May as bank-crypto split persists
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Crypto
U.S. unveils crypto tax overhaul proposal, sparking controversy over Bitcoin exclusion
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Crypto
Why Ripple supports U.S. CLARITY Act while Coinbase opposes it