Search results for PARITY
Crypto
U.S. moves to ease tax rules for stablecoin payments, PARITY bill amendment unveiled
The U.S. Congress is moving to cut tax burdens when payment stablecoins are used in everyday transactions, seeking to refine a framework that would allow digital assets to be used much like cash. A revised PARITY bill amendment would limit gain and loss recognition for certain stablecoin sales when a taxpayer’s cost basis is at least 99 percent of the token’s redemption value. It also proposes changes to taxation of staking rewards and includes wash-sale rules for digital assets.
Industry
U.S. Radify targets rare earths with plasma refining, challenging China dominance
U.S. startup Radify Metals is developing plasma-based metal refining technology to challenge China-centred rare earth supply chains. The company aims to remove oxygen from rare earth oxides to produce pure metals using superheated hydrogen plasma, leaving water vapour as the only byproduct. Radify is developing reactors for neodymium and dysprosium and plans to scale from kilogram-per-day output to a 100 kg-per-day pilot. It has raised close to $3 million.
Crypto
U.S. unveils crypto tax overhaul proposal, sparking controversy over Bitcoin exclusion
The United States is moving to overhaul its cryptocurrency tax rules, with two members of the U.S. House of Representatives releasing a draft Digital Asset PARITY Act. The proposal would clarify tax treatment by amending the Internal Revenue Code. It would exempt capital gains on dollar-pegged stablecoins when price moves stay within 1 percent and waive tax and reporting duties for stablecoin transactions of $200 or less, though an annual cap is undecided. Bitcoin would not qualify for the exemption.
