Latest news with #cryptocommunity
Crypto Insight
04-07-2025
- Business
- Crypto Insight
US Senator Cynthia Lummis drafts standalone crypto tax bill
US Senator Cynthia Lummis submitted a draft bill on Thursday, outlining several provisions to overhaul the tax code and exempt certain digital asset transactions from taxation after crypto amendments failed to appear in the budget package. The bill proposes a de minimis exemption for digital asset transactions and capital gains of $300 or less, with a $5,000 annual exemption cap. The Wyoming Senator also outlined provisions to exempt crypto lending agreements and digital assets used in charitable contributions from taxation. Additionally, the bill proposed deferring taxes on mining and staking rewards until the underlying assets are sold. Lummis said: 'This groundbreaking legislation is fully paid for, cuts through the bureaucratic red tape, and establishes common-sense rules that reflect how digital technologies function in the real world. We cannot allow our archaic tax policies to stifle American innovation. My legislation ensures Americans can participate in the digital economy without inadvertent tax violations,' she continued. The standalone draft bill is now the Wyoming Senator's best chance of passing the pro-crypto legislation promised to the crypto community after Senators passed the spending bill without addressing digital assets. Double taxation, unclear policies frustrate US crypto investors Digital asset taxation has become a hot-button issue in the crypto industry, with executives, investors, traders, and users frustrated by the lack of clarity and tax efficiency in the United States. One major topic of contention is the tax treatment of completely decentralized finance (DeFi) protocols and non-custodial platforms where the developers do not have control over funds or consensus rules. In June, US lawmakers on the House Financial Services Committee introduced an amendment to the Digital Asset Market Clarity Act of 2025, the crypto market structure bill, exempting developers of decentralized protocols from being classified as money-transmitting services. This would also exempt these DeFi protocols from the same tax reporting requirements as centralized exchanges and other crypto businesses employing a traditional business structure. US lawmakers are scrambling to include crypto provisions in the final version of the spending bill before it hits US President Donald Trump's desk. Source:
Globe and Mail
21-06-2025
- Business
- Globe and Mail
Can't Wait for XRP to Hit $10? PFMCrypto Launches 1-Day Cloud Mining Contract With $10 Free Bonus
Farington, England, June 21, 2025 (GLOBE NEWSWIRE) -- Despite growing enthusiasm in the XRP community, the long-awaited $10 milestone remains out of reach. XRP continues to fluctuate between $2.05 and $2.33, showing signs of consolidation rather than breakout. In response, PFMCrypto has introduced a new 1-day XRP cloud mining contract, providing holders with a smart and simple way to generate daily income—even as they wait for the next major price surge. New users receive a $10 signup bonus, enabling them to start mining XRP with no upfront investment. One-Day Contract, Same-Day Rewards Unlike traditional mining that relies on expensive hardware and technical know-how, PFMCrypto's XRP cloud mining model is fully remote and designed to simulate yield through proprietary infrastructure and AI-driven optimization. The newly launched 1-day mining contract is the most accessible option yet, letting users activate a plan using their $10 welcome bonus and receive $0.66 in daily XRP rewards—with no cost, no setup, and no risk. This short-term mining model allows XRP holders to earn predictable returns while staying engaged during sideways markets. Key Features of PFMCrypto's XRP Cloud Mining Contracts - No Hardware Required: Accessible to all users without the need for mining equipment or technical setup - Daily Payouts: Earn mining rewards daily based on your contract participation - Secure Custody: Assets are protected under PFMCrypto's industry-grade security standards - Flexible Contract Durations: Choose from short-, mid-, or long-term options to match your investment strategy Flexible Plans for All Investors PFMCrypto offers over 10 unique mining contracts to suit every investor profile—from curious beginners to seasoned holders seeking high-yield options: $10 Contract – 1 Day – Earn $0.66 (free with signup bonus) $100 Contract – 2 Days – Earn $3.00 daily + $2 bonus payout $1,000 Contract – 9 Days – Earn $13.10 daily $5,000 Contract – 30 Days – Earn $78.50 daily For long-term XRP holders, these plans offer a practical way to remain active in the ecosystem and generate steady returns while the token builds momentum toward higher price targets. Click here to explore the $10 XRP mining contract. What Sets PFMCrypto's XRP Mining Contracts Apart? - 100% Remote Access: No equipment, no tech skills—just log in and activate your plan - Capital Protection: Contracts guarantee full principal return upon maturity - AI-Powered Profitability: Yield optimization ensures profitability even during price stagnation - Daily Rewards: Predictable XRP payouts improve cash flow and reduce volatility risk How to Start Mining on PFMCrypto Register an Account: Get a $10 bonus plus $0.66 daily login rewards Select a Mining Contract: Activate a plan using your bonus or choose your own Start Mining: Sit back and earn—rewards are credited daily, automatically A Smarter Way to Wait: Income While XRP Consolidates Founded in 2018, PFMCrypto has been at the forefront of cloud-based crypto mining, democratizing access to passive income through secure, AI-powered, and environmentally conscious infrastructure. The platform is built to help users mine leading cryptocurrencies—like XRP, BTC, SOL, and DOGE—without the need for expensive rigs or in-depth technical knowledge. 'The path to $10 may take time, but XRP holders shouldn't have to wait empty-handed, ' said a PFMCrypto spokesperson. ' Our 1-day mining contracts are designed to give users a simple, low-risk opportunity to generate daily XRP returns—while staying engaged with the ecosystem.' Don't wait for the next rally to start earning—activate your XRP mining contract today at Disclaimer: The information provided in this press release does not constitute an investment solicitation, nor does it constitute investment advice, financial advice, or trading recommendations. Cryptocurrency mining and staking involve risks and the possibility of losing funds. It is strongly recommended that you perform due diligence before investing or trading in cryptocurrencies and securities, including consulting a professional financial advisor.
Mail & Guardian
17-06-2025
- Business
- Mail & Guardian
Regulatory clarity on the horizon: The CLARITY Act and its impact on crypto lending
The crypto industry long existed in a gray area, with officials unable to clearly define what was allowed in digital asset activity. The CLARITY Act, a short version of 'Clarifying Law Around the Regulation and Implications of Tokens and Yield,' looks to provide important direction on how digital assets should be regulated, focusing on services such as lending, staking and custody. Even as Congress discusses the law, people across the cryptocurrency community are talking about it. They claim that removing unnecessary rules will enable businesses to develop and innovate for many years. People opposed to this argue that it allows the federal government to overstep its bounds, becoming too overbearing. Regardless of one's opinion, it's evident that the result of the CLARITY Act will impact crypto lending in the US and potentially influence the policy course globally. In particular, we are seeing In crypto-backed loans, people can take out loans using virtual currencies such as Ethereum, Solana, or stablecoins and receive fiat or crypto assets as repayment. One thing that has fueled decentralized finance is these loans and they are now growing mainstream as they join efforts with banks and fintech companies. Impact on Centralized and Decentralized Platforms The CLARITY Act aims to define precisely what constitutes a crypto loan under U.S. financial legislation. Is it a transaction in securities, a banking application, or a completely different kind of service? Right now, the The CLARITY Act wants to clarify the separation of tasks among federal agencies by assigning tasks according to the specific digital asset involved. It also provides suggestions for the disclosure of risks, checking users' identity and safekeeping of funds. Among other features, the act defines what is meant by a 'qualified digital loan agreement,' which forms the basis for classifying a product as a security. Such knowledge may prompt platforms to make changes in their lending terms, rates and what is required as collateral. It could also determine whether lending services need to obtain permission from regulators or meet specific requirements. With the help of these rules, the CLARITY Act aims to enhance security and reliability for both lenders and borrowers. Consumer Trust and Institutional Confidence How a platform has been built—whether centralized or decentralized—has a significant impact on how the CLARITY Act relates to it. The proposed law would mean that crypto exchanges and lending platforms with central control could be subjected to more scrutiny. It is possible for them to need to follow Still, decentralized lending platforms that are run through smart contracts and DAOs should be managed differently. The bill acknowledges that DeFi has unique technical aspects and proposes specific criteria for those configured without central control. However, people involved in developing or participating in DAOs can still be responsible if they encourage or profit from lending. It is significant for many reasons, one of which is that the most popular crypto-based loans are offered through decentralized platforms. Most of these services give lower fees, higher interest rates and open access around the clock, though they have not usually provided formal consumer protections in the past. The CLARITY Act may strike a balance: supporting innovation in DeFi while adding assurance where needed. Belief in Businesses and Confidence in Official Institutions One of the reasons for the CLARITY Act is to rebuild trust in crypto lending after many major crypto industry collapses in 2022 and 2023. Due to risks and insufficient cash, Celsius, Voyager, and BlockFi all declared bankruptcy, which alarmed many individuals who had used digital assets for borrowing and lending purposes. Closer regulations give people more confidence to use these services since their rights and financial data are protected. They could also become clearer about their models for loan-to-value ratios and the handling of collateral in case of liquidation. People working for institutions may also get support from the government. Many banks and hedge funds are hesitant to engage in crypto lending due to regulatory issues. The CLARITY Act may lead to bigger deals involving standard banks and crypto-focused platforms, as there is an interest in Bitcoin loans because they are considered low-risk ways for banks to start in the digital asset area. An Improved Advantage for American Businesses The CLARITY Act may enable the United States to stand out among nations in terms of cryptocurrency advancements. Setting clear rules for lending and staking in the U.S. would provide customers with a different choice from places where regulations are stricter or less organized. This positive approach may draw the attention of international experts, capital and new companies who want to develop within a balanced framework of creating and checking new ideas. Experts in Europe and Asia are monitoring this issue as well and they think the success of this legislation could influence laws elsewhere. As a result, there could be uniformity in crypto lending across the globe and countries would become more connected. The CLARITY Act marks a significant event for the future of crypto lending. To ensure transparency and accountability, the legislation has defined the scope of each entity's activities in the digital finance sector. Such clear regulations might result in lower risks, higher reliability and allow more users of Bitcoin and crypto-backed loans to join. While the debate in Congress continues, the industry remains eagerly watching. If the CLARITY Act is approved, crypto lending could begin to play a significant role in the digital economy, subject to strict regulations.
Yahoo
24-05-2025
- Business
- Yahoo
3 Reasons Why XRP Is Worth Buying Right Now and Holding For At Least 3 Years
XRP's regulatory risks are set to decline a lot. Its ledger is getting a significant new source of traffic, thanks to an acquisition. Another major holder will soon begin holding the coin. 10 stocks we like better than XRP › XRP (CRYPTO: XRP) seems to keep having doors opened for it lately. Each time there's a new positive catalyst, it paves the way for the coin to continue to rise over the coming years. There are three fairly recent developments that make XRP worth buying and holding for at least three years. Let's take a look at each and put them into context. The Securities and Exchange Commission (SEC) has been in a legal battle with Ripple, the company that develops XRP, since late 2020. The issue in contention was whether Ripple broke securities laws by offering XRP without filing the relevant paperwork with regulators. That battle is now winding down, and by the looks of it, XRP has won decisively. The SEC and Ripple jointly filed a motion on May 8, seeking to settle the SEC's lawsuit for a total of $50 million, down from a prior agreed-upon sum of $125 million. The motion is now being considered by a judge. If the judge assents, Ripple will get its $75 million back from the previously planned settlement. More importantly, it'll be free to continue issuing and developing XRP without the fear of regulators shutting down its operations and rendering the coin worthless. As such, perhaps the single biggest risk that the coin was exposed to is now -- nearly -- in the rearview mirror, which is another reason to buy it. On April 8, Ripple paid around $1.2 billion to acquire a company called Hidden Road, which is a type of business called a prime broker. Prime brokers offer services to other financial companies, enabling them to borrow funds and execute their trades, among other things. Now, because Ripple owns Hidden Road, certain stablecoins on XRP's ledger can be used as collateral for institutional investors like hedge funds that use Hidden Road's platform. Critically, those stablecoins can now be used as collateral for borrowing in both the cryptocurrency sector and the traditional financial sector, meaning that they're almost like a financial bridge between the two. Another benefit is that all the post-trade activities that Hidden Road offers to its clients will be moved to XRP's ledger, generating significant volume for the chain, as well as a larger supply of on-chain capital. The sum of these benefits is that XRP will now be undeniably involved in the financial plumbing of a system that institutional investors actually use to accomplish their objectives. That's extra marketing for them to adopt XRP to save on their costs, and the new capital stored on the chain will likely increase its value as well. Over time, the price effect could be substantial. As you've probably heard, there was recently an executive order in the U.S. that mandated the creation of a Digital Asset Stockpile (DAS). While that stockpile has not yet been implemented, if it is, XRP is slated for inclusion in it. That means that the U.S. government will be a long-term holder of the coin, if not necessarily a purchaser at the market. Under the proposed DAS, the U.S. government will hold onto seized digital assets, including XRP, instead of selling them. Thus, there won't be as much floating supply of XRP, as the retained assets will likely be held in the DAS semi-permanently, or at least until another administration changes the policy. With less circulating supply, buyers will need to compete over the remaining slices of the pie, potentially sending prices grinding higher over the course of years at a slightly faster pace than they would otherwise. Another bullish dimension of XRP's inclusion in the DAS is that it signals that the government thinks it's valuable enough to hold on to. When paired with the other regulatory catalysts and the coin's usage by players in the traditional financial industry, it's gaining a lot of credibility as an asset, and that could also help it to reprice upwards. Before you buy stock in XRP, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and XRP wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $640,662!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $814,127!* Now, it's worth noting Stock Advisor's total average return is 963% — a market-crushing outperformance compared to 168% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of May 19, 2025 Alex Carchidi has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends XRP. The Motley Fool has a disclosure policy. 3 Reasons Why XRP Is Worth Buying Right Now and Holding For At Least 3 Years was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
