š Crypto Community Turns to House to Counter āImpossibleā Tax Requirements
Hello Defiers! Hereās what we are covering today,
News
Video
Links
RED ALERT: TELL CONGRESS TO PROTECT HUMAN RIGHTS IN THE CRYPTO-ECONOMY: Fight for the Future
SEC Charges Poloniex for Operating Unregistered Digital Asset Exchange: SEC
āCrypto Momā Hester Peirce slams SEC for $10M Poloniex settlement: CoinTelegraph
Podcast
šListen to the interview in this weekās podcast episode here:
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Kraken, consistently rated the best and most secure cryptocurrency exchange, which can get you from fiat to DeFi
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Washington
š Crypto Community Turns to House to Counter āImpossibleā Tax Requirements
NEWS Following a major setback yesterday, there is still hope that onerous new tax requirements for the cryptocurrency industry can be addressed before they become law.Ā
SO WHAT Thatās the upshot from a day of frustration on the floor of the U.S. Senate when the crypto community got a crash course in the vicissitudes of Washington. Ever since President Bidenās $1 trillion infrastructure spending bill proposed taxing cryptocurrency transactions as an offset, senators on both sides of the aisle have been scrambling to limit the damage. No sooner had a bipartisan compromise been struck with White House support, than Sen. Richard Shelby (R-Ala.) rejected the amendment.Ā
NIGHTMARE Barring an eleventh-hour development, it will be up to lawmakers in the House of Representatives to fix a provision that could force players ranging from protocol developers to miners to stakers to exchanges to collect and report their customersā crypto transactions to the Internal Revenue Service. That would be a costly, administrative nightmare, they say.Ā
šREAD THE FULL STORY IN THE DEFIANT.IOĀ š
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Interview
š„ø An Interview with the Anon Who Bought 88 Punks for $5.5M
FRENZY Last month, one anonymous user spent more than $5M on CryptoPunks in a buy that kicked off a frenzy of NFT sales.Ā
EXCLUSIVE In an exclusive interview, The Defiantās Camila Russo sat down to chat with the buyer 0x650d, whoĀ purchased 88 CryptoPunksĀ for $5.5M in a single block.
HUGE 0x650d gives us the scoop on how he actually planned to purchase 124 CryptoPunks, aiming to buy every single Punk listed for under 30 ETH. He also outlines the process of working with MiningDAO to bundle 88 transactions into a single block and reveals how he managed to make such a huge purchase without spending any gas fees.Ā
šREAD THE FULL STORY IN THE DEFIANT.IOĀ š
Video
šŗ Quick Take: EIP1559 and The New Crypto Regulation Impasse
Links
š RED ALERT: TELL CONGRESS TO PROTECT HUMAN RIGHTS IN THE CRYPTO-ECONOMY: Fight for the Future
The House of Representatives is now the only hope to stop a bill that could kill crypto. Use this form to contact your representatives now.
š SEC Charges Poloniex for Operating Unregistered Digital Asset Exchange: SEC
The Securities and Exchange Commission today announced that Poloniex LLC has agreed to pay more than $10 million to settle charges for operating an unregistered online digital asset exchange in connection with its operation of a trading platform that facilitated buying and selling of digital asset securities.
š āCrypto Momā Hester Peirce slams SEC for $10M Poloniex settlement: CoinTelegraph
United States Securities and Exchange Commission Commissioner Hester Peirce, known colloquially as āCrypto Mom,ā has slammed the SEC for its $10-million settlement with cryptocurrency exchange Poloniex.
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š§āš» āļø Stories in this newsletter were written by Dan Kahan and Owen Fernau, and edited by Bailey Reutzel and Edward Robinson.Ā Videos were produced by Robin Schmidt and Alp Gasimov. Podcast was led by Camila, edited by Alp.
The DefiantĀ is a daily newsletter focusing on decentralized finance, a new financial system thatās being built on top of open blockchains. The space is evolving at breakneck speed and revolutionizing tech and money. Sign up to learn more and keep up on the latest, most interesting developments. Subscribers get full access, while free signups get only part of the content.Ā Click here to pay with DAIĀ (for $100/yr) or sub with fiat by clicking on the button above ($15/mo, $150/yr).