The U.S. Internal Revenue Service (IRS) has released a draft tax Form 1099-DA for reporting digital asset proceeds from broker transactions. Brokers, including unhosted wallet providers, are required to report proceeds from digital asset dispositions to the IRS. A crypto tax expert has highlighted that the collection of certain data points, such as wallet addresses, […]
Eigenlayer launched on Ethereum’s mainnet with over $ 12 billion in total value locked, aiming to create a restaking ecosystem which, while promising lucrative prospects, may introduce unforeseen risks including potential centralization and the threat of slashing cascades impacting Ethereum’s security. The launch was executed with certain safeguards, such as the temporary disabling of …
In a recent analysis, economist Peter Schiff draws stark comparisons between the current U.S. economic optimism and the prelude to the 2008 financial crisis. Schiff, leveraging his expertise, warns of impending financial turmoil, emphasizing the critical role of money supply in understanding economic health. Peter Schiff Warns: U.S. Economy on the Brink, Echoes of 2008 […]
Federal Reserve Chairman Jerome Powell engaged with the Senate Banking Committee, signaling that the U.S. is just beginning to contemplate the introduction of a central bank digital currency (CBDC). Powell Assures No Direct Fed Accounts in CBDC Plans, Seeks Congressional Go-Ahead In his conversation with the Senate Banking Committee, Fed Chair Jerome Powell explored the […]
The Chamber of Digital Commerce, a Washington-based blockchain advocacy group, has filed an amicus curiae document on the SEC v Payward, Inc. (Kraken) case. The chamber argues that the actions of the SEC pose “separation of powers and due process” concerns and that digital assets are not inherently investment contracts. Chamber of Digital Commerce Slams […]