Crypto News
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House Tax Panel Advances Bill Seeking Clearer Crypto Tax Rules
The U.S. House’s tax committee advanced the Digital Asset Tax Certainty Act, a proposal aimed at easing complex tax obligations for everyday crypto use. The measure follows the Clarity Act’s loss and has faced pushback.
CoinDesk
Cato Warns an AI Pause Could Strengthen Dominant Firms
Cato says a broad AI pause could entrench dominant companies instead of improving safety. The think tank favors voluntary safeguards, while Block Chairman Jack Dorsey supports independent testing and narrowly justified restrictions.
Decrypt
H.R. 10357 seeks easier crypto use while raising an additional $500 million in taxes
H.R. 10357 would ease rules for crypto payments, fees and qualifying loans while expanding loss-deferral and trader-accounting provisions. CryptoSlate reported that the proposal is expected to raise an additional $500 million in taxes.
CryptoSlate
House to Review Proposed De Minimis Tax Break for Crypto
A House markup this week will examine a proposal to overhaul federal tax treatment of digital assets, including a long-sought crypto de minimis tax break. The measure still requires congressional approval before becoming law.
Decrypt
Nigel Farage-backed Stack BTC plans $16 million gold dealer acquisition
Stack BTC, backed by Nigel Farage, plans to acquire a gold dealer for $16 million. The proposed deal would use cash flow from precious-metals sales to increase the company’s bitcoin holdings, CoinDesk reports.
CoinDesk
US House Crypto Tax Bill Leaves Mining and Staking Reward Timing Unchanged
The US House’s 114-page crypto tax package would change rules for fees, stablecoins and lending, but excludes deferral for mining and staking rewards, leaving their existing tax timing unchanged.
Cointelegraph
CLARITY Act Draws Opposition From 18 State Attorneys General Before Senate Vote
The CLARITY Act faces resistance from 18 state attorneys general before a key Senate vote. They say the revised bill would weaken state oversight, despite an ethics concession addressing another hurdle.
Cointelegraph
OpenAI Seeks Congressional Clarity on Whether an AI Slowdown Would Be Legal
OpenAI is seeking guidance from Congress on whether an AI development slowdown could comply with antitrust law. The request follows calls for restraint from researchers and warnings that competition may cause companies to overlook risks.
Decrypt
UK Government Defeated as Lords Support Digital Assets Strategy
The House of Lords backed legislation requiring the UK Treasury to consult on a digital assets strategy covering cryptoassets, stablecoins, tokenized securities and digital financial infrastructure, Bitcoin Magazine reported.
Bitcoin Magazine
DeFi Traders Explore Swapping Stocks for BONER Memecoin
Traders on Robinhood Chain are exploring a DeFi concept that pairs healthcare stocks with BONER, a memecoin. Cointelegraph described the activity as a new niche for speculative “degens,” without providing volume, pricing or performance details.
Cointelegraph
Blockstream rejects ransom as Liquid hackers hold nearly 600 BTC
Blockstream will not pay a ransom for nearly 600 BTC held by Liquid hackers, according to Cointelegraph. It said it would work with law enforcement, exchanges and forensic specialists to recover the Bitcoin if it is not returned.
Cointelegraph
UK House of Lords backs mandatory digital-asset strategy
The UK House of Lords backed an amendment requiring the Treasury to develop a digital-asset strategy covering cryptoassets, stablecoins, tokenized securities and digital financial infrastructure, Cointelegraph reported.
Cointelegraph
Bessent Calls for CLARITY Act Passage After Senate Returns
Treasury Secretary Scott Bessent urged passage of the CLARITY Act after the Senate returned, warning that failure to approve it would damage America’s leadership position in the digital asset industry.
Cointelegraph