Crypto

President Trump Signs EOs for Crypto and Digital Finance

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Working Group on Digital Asset Markets created following President Trump's Executive Order

The Trump Administration had a busy first week in office, as they began signing various Executive Orders (EO). One of the most anticipated EOs President Trump has signed off on was the one relating to cryptocurrency. The EO, titled “Strengthening American Leadership in Digital Financial Technology,” establishes the Presidential Working Group on Digital Asset Markets, … President Trump Signs EOs for Crypto and Digital Finance

Texas Senator Ted Cruz Challenges IRS Tax Rule on Crypto

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Texas Senator Ted Cruz

Texas Senator Ted Cruz is preparing to challenge the IRS and their recent tax rules on crypto income reporting by utilizing the Congressional Review Act (CRA). The IRS’ reporting rule requires full reporting of income generated from cryptos and expands the “broker’ definition, which, according to critics, doesn’t reflect the true nature of decentralization. Cryptocurrency … Texas Senator Ted Cruz Challenges IRS Tax Rule on Crypto