U.S. congressman says crypto mining tax scrapped in debt ceiling deal

A proposed tax on electricity used by cryptocurrency miners in the U.S. has been scrapped in the deal to raise the country’s debt ceiling, according to Republican congressman Warren Davidson.

• 2023-05-30
• debt ceiling Joe Biden Bitcoin mining cryptocurrency miners U.S. Treasury Department Warren Davidson excise tax proposed tax crypto miners Biden administration

Biden's 30% Tax on Bitcoin Miners 'Isn't Going to Happen,' Says Cynthia Lummis

Crypto legislation has been hard to work on due to "fear that Bitcoin and cryptocurrencies are being used for criminal activities,” Lummis said.

• 2023-05-20
• Cynthia Lummis Bitcoin miners Perianne Boring Joe Biden excise tax Bitcoin 2023 conference Wyoming Senator

Crypto champion Coinbase plots UK move as Biden ‘punishes’ tech

Multi-billion dollar crypto exchange Coinbase is considering a move to the UK as Joe Biden “punishes” fintech firms in the US.

• 2023-04-18
• Brian Armstrong Coinbase Joe Biden chief executive officer chancellor George Osborne crypto regulation UK regulatory framework

Crypto Bank Anchorage Digital Lays Off 20% of Staff

Citing economic, market and regulatory "headwinds" the federally chartered U.S. crypto bank laid off 75 employees.

• 2023-03-15
• Anchorage Digital Silicon Valley Bank Department of Financial Services Apple Podcasts Michael Hsu Joe Biden

Biden Budget Plan Would Close Crypto Tax Loss Harvesting Loophole

U.S. President Joe Biden's proposed budget will include a provision to close tax loss harvesting on crypto transactions.

• 2023-03-09
• White House tax provision Joe Biden tax loss harvesting Wall Street Journal transactions

Creation of U.S. digital dollar would ‘crowd out’ crypto: ex-Biden advisor

A U.S. central bank digital currency would “crowd out” the cryptocurrency ecosystem and protect national security, according to an ex-top presidential adviser.

• 2023-03-01
• digital currency Daleep Singh CBDC Joe Biden central bank presidential adviser Biden administration