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Seeds of Wisdom
NORTH CAROLINA BILL PROPOSES ALLOWING TAX PAYMENTS USING CRYPTO
▪️ North Carolina lawmakers filed a bill that seeks to authorize the use of crypto for economic transactions, such as tax payments.
▪️ The state has previously proposed bills to allow state investments in crypto.
North Carolina lawmakers have introduced a bill that seeks to allow the use of digital assets in tax payments and other economic transactions, marking the latest crypto-related legislative effort in the state.
Representative Neal Jackson filed H.B. 920, the Digital Asset Freedom Act, last Thursday with two co-sponsors.
“Digital assets are recognized as a valid medium of exchange in North Carolina,” the bill said. “A transaction shall not be denied legal effect or enforceability solely because it uses a digital asset.”
The Digital Asset Freedom Act outlines the criteria that digital assets must meet to be considered eligible. It requires a digital asset to have at least $750 billion in market capitalization and a daily trading volume of at least $10 billion to ensure liquidity and market depth.
The bill added that an eligible digital asset should have at least a 10-year track record of operating in an open market, with proven security and resistance to censorship.
@ Newshounds News™
Source: The Block
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BINANCE EXECUTIVES MET WITH US GOVERNMENT OFFICIALS TO DISCUSS EASING OF REGULATORY SUPERVISION: REPORT
Executives at Binance reportedly sat down with Treasury Department officials in March to discuss the possibility of relaxing the US government’s regulatory scrutiny of the world’s largest crypto exchange.
Citing people familiar with the matter, the Wall Street Journal reports that Binance wants the Treasury Department to remove one of the two monitors that oversee the exchange.
The US government is keeping a close eye on Binance after it pleaded guilty to having engaged in anti-money laundering (AML), unlicensed money transmitting and sanctions violations.
The Treasury Department appointed a monitor to ensure that Binance complies with anti-money laundering laws, but a spokesperson for the exchange says that monitors led to “inefficient and costly burdens.”
The report says that during last month’s meeting, Binance chief executive Richard Teng and Chief Legal Officer Eleanor Hughes asked Treasury officials to remove the monitorship, or reduce its duration and scope.
Binance’s executives are said to be optimistic that the T------------------n will greenlight the request.
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According to WSJ, the meeting took place after Binance and representatives from the Trump family-backed crypto venture World Liberty Financial held discussions to list the project’s dollar-pegged stablecoin, USD1, on the crypto trading platform.
A spokesperson for World Liberty Financial says that the company is aiming for USD1 to be “accessible for millions globally.”
@ Newshounds News™
Source: The Daily Hodl
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Source: Dinar Recaps
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