Americans | Crypto

The fight over CLARITY has always been sold as a battle for rules, a way to finally give the U.S. crypto market a clean lane to run in. That story still matters. The past week made something else clearer: the legislation is becoming a proxy war over who gets to pay Americans for holding digital […] The post CLARITY Act is turning into a proxy war over who pays Americans for holding “digital dollars” appeared first on CryptoSlate.

Younger, wealthier Americans seem to be rewriting the house rules of wealth management. They like broad equity indices. They park cash in T-bills. They still buy real estate and private deals. But they also expect to see Bitcoin, Ethereum, and a handful of other digital assets on the same dashboard as everything else. For them, crypto is a normal […] The post Financial advisors who ignore Bitcoin ditched by young wealthy Americans appeared first on CryptoSlate.

Tax revenue denominated in Bitcoin would be funneled into the US strategic BTC reserve and would not trigger a taxable event for the payer. A US lawmaker introduced a bill in the House of Representatives on Thursday that would allow Americans to pay their federal taxes in Bitcoin, which would then be funneled into the US strategic Bitcoin reserve. Under the Bitcoin for America Act proposed by Representative Warren Davidson, a Republican from Ohio, BTC (BTC) transferred to the US government for tax payments would not be subject to capital gains taxes and not be recorded as a loss or gain for the taxpayer. In a press release, Davidson said: Read more

A growing number of Americans believe the US government should convert part of its gold reserves into Bitcoin. According to a recent poll by The Nakamoto Project, four out of five respondents support converting a portion of the country’s gold holdings into Bitcoin. The polling results showed that more than 1,000 respondents recommended converting between […] The post Eighty percent of Americans favor converting US gold reserves to Bitcoin, poll reveals appeared first on CryptoSlate.