Senate Finance Committee Chairman Ron Wyden (OR-D) and Senator Cynthia Lummis (WY-R) have plans to introduce a new bill today that would reverse some of the cryptocurrency provisions in the recently-passed bipartisan infrastructure package.
The Australian Securities And Investments Commission (ASIC) has given early approval to fund managers seeking to launch Bitcoin spot exchange traded funds (ETFs)
, according to Business Insider
Wall Street leaders turned up their noses when Bitcoin exploded onto the scene more than a decade ago. Now they’re paying sweet premiums to crypto recruits, amassing an army of enthusiasts within the traditionally staid realm.
Banks and financial firms added 1,000 crypto roles since 2018
Pay bumps are on offer as firms warm up to digital assets
Commonwealth Bank will allow its customers to hold and use bitcoin and other cryptocurrencies via its 6.5 million-user banking app in a bid to appeal to young customers and keep pace with rivals such as Square and PayPal, which already allow users to trade and spend bitcoin.
The move will make CBA the first Australian bank – and one of just a handful of banks worldwide – to offer customers access to cryptocurrencies, which are created digitally with no physical form and are challenging traditional banking systems and fiat money.
Mayor-elect Eric Adams says he wants to make New York City “crypto-friendly,” and he’s taking note of the recent success of Miami’s CityCoins project.
Crypto exchange Coinbase said Tuesday it’s working with PNC Bank, the fifth-largest commercial bank in the U.S. by assets, on a crypto project.
“In recent months, we have formed partnerships with industry leaders including [Tesla CEO] Elon Musk, PNC Bank, SpaceX, Tesla, Third Point LLC and WisdomTree Investments,” a letter from Coinbase
to its shareholders read.
PNC is the latest mainstream megabank to dip its toe into digital assets, and perhaps the largest to do so with Coinbase.
Cryptocurrency gains will be subject to 27.5% tax from March
Austria says tax may help build legitimacy in crypto investing
“We’re going to be the first city in America to give a bitcoin yield as a dividend directly to its residents,” Suarez said.
The yield comes from the staking of the city’s own cryptocurrency, MiamiCoin
, which was introduced early this year and has already earned over $21 million in the past three months for Miami. Suarez noted that if you were to annualize that revenue, it would equal roughly one-fifth of Miami’s total annual tax revenue of $400 million.
WHAT DOES THIS MEAN FOR BITCOIN AND THE INTERNET ECONOMY?
It means that Bitcoin and crypto regulation and adoption is moving at its fastest pace since creation!
Lawmakers are forced to talk about, politicians are forced to take a position on it, and economists are forced to try to explain it.
Please buckle your seatbelts and prepare for a volatile launch! 2022 is going to be a huge year for crypto adoption and valuation.
Position your wealth properly in money to enjoy the ride!