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Crypto

Blockchain Association urges U.S. Congress to overhaul crypto tax rules

The Blockchain Association urged U.S. lawmakers to overhaul digital asset tax rules, calling for exemptions for small transactions and for stablecoins to be treated as cash for tax purposes. It also sought taxation of mining and staking rewards when they are sold, and limits on broker reporting duties to intermediaries that custody or control customer assets. The group did not endorse specific legislation and said it would continue discussions as bills move forward.

Industry

Trump weighs Russian diesel imports to cut fuel prices amid legal and political backlash

U.S. President Donald Trump is pursuing imports of Russian diesel to lower domestic fuel prices, but the plan faces controversy over congressional sanctions and the war in Ukraine. Reports said the administration temporarily waived sanctions on Russian diesel, though legal limits may still apply. Republican lawmakers voiced objections on legal and moral grounds, while others urged enforcement of Russia sanctions. Analysts also questioned whether imports would materially ease fuel prices.

Crypto

SEC, CFTC step up crypto rulemaking after Clarity bill stalls in U.S. Senate

After the Clarity bill, a comprehensive U.S. crypto regulatory proposal, stalled in the Senate, federal regulators accelerated efforts to update rules using existing authority, CNBC reported. The SEC issued an order outlining a temporary path to allow some tokenised stock trading, while the CFTC sent a crypto rule proposal for White House review. Industry figures and lawmakers urged clearer rules, as state-federal tensions over regulatory authority intensify.