- US House draft considers tax relief for stablecoin transactions.
- Bill aims to align crypto with securities taxation.
- Proposed capital gains exemption for regulated stablecoins.
Shanghai silver futures surpassed 16,000 yuan/kg, reaching a record peak, while the U.S. House explores tax frameworks for crypto, aiming for secure transactions and clarified taxation.
The developments signal potential market shifts, as investors await the U.S. legislative outcomes, which could reshape digital asset dealings similar to traditional securities.
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Ohio’s Max Miller and Nevada’s Steven Horsford are drafting a US House bill to establish a safe harbor for stablecoin and crypto transactions.
The bill seeks to clarify crypto tax regulations, exempting certain stablecoins from capital gains tax.
A dual focus on fostering innovative blockchain initiatives while regulating responsibly can secure both economic advantages and consumer protection in the rapidly evolving crypto sphere, noted a blockchain advocate.
Reactions within the crypto community have been attentive, with stakeholders noting the potential impact on staking and mining activities. Although broader digital asset legislation is under development, bipartisan engagement indicates responsive progress in addressing industry concerns.
Ohio and Nevada Drive Legislative Change in Crypto Regulation
Did you know? Ohio and Nevada are leading US states for blockchain initiatives, highlighting proactive legislative participation in emerging technologies and finance.
Ethereum (ETH) currently trades at $3,004.45 with a market cap of $362.62 billion, accounting for 12.11% market dominance. Trading volume dramatically shifted by 72.30% in the last 24 hours, according to CoinMarketCap. Prices changed by 1.36% in 24 hours, –3.72% over 7 days, and 9.51% in 30 days.
The Coincu research team notes potential financial shifts due to the proposed regulatory framework, suggesting it might bolster crypto adoption by offering tax advantages similar to securities. The engagement of bipartisan leaders underscores potential technological and economic evolutions in the blockchain sector.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
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