547:CBDC Alert (Hungary)::Circle Braces for US Debt Default::EU to Share Crypto Tax Data

Save
2 years ago
34

Overnighters,

Episode 547:
CBDC Alert (Hungary)
Circle Braces for US Debt Default
EU to Share Crypto Tax Data
and More

Collect this Cover at: https://awrd.gg/4689

The TL;DL -

EU to Share Crypto Tax Data-The European Union is getting ready to make it harder for people to avoid paying taxes on their cryptocurrency holdings. Under a new law, companies that provide cryptocurrency services will be required to report all transactions to tax authorities. This is part of a global effort to crack down on tax evasion using cryptocurrency.

EU Crypto Regulations For Compliance-The European Union has passed new regulations that will allow tax authorities to share crypto data with each other. This is a significant step in the fight against tax evasion, and it is expected to increase tax compliance among crypto investors. The new regulations will also make it more difficult for criminals to use crypto for money laundering and other illegal activities.

EU's MiCA for US Markets?-The EU's MiCA regulation could serve as a model for crypto rules in the United States. The regulation covers all aspects of the crypto industry, from issuing and trading to custody and lending. It sets clear rules for companies operating in the crypto space and protects consumers against fraud and market manipulation. U.S. Securities and Exchange Commission Commissioner Hester Peirce has said that MiCA is a "good model" for the US because it strikes a balance between protecting consumers and promoting innovation.

Circle Braces for US Debt Default-Circle, the issuer of the USDC stablecoin, has announced that it will not hold Treasurys that mature after early June. This is due to concerns that the U.S. government may fail to raise the debt ceiling, which would lead to a default on its debt. The move by Circle is a sign of the growing uncertainty in the markets over the debt ceiling issue. If the government does default, it could have a significant impact on the economy and the crypto markets.

CBDC Alert(Hungary)-Hungary's central bank is not in a hurry to issue a central bank digital currency (CBDC), but it is exploring the possibility. The bank is conducting pilots to see if a CBDC could help people who don't have bank accounts. CBDCs are still in the early stages of development, and it is unclear when or even if they will be widely adopted. In the meantime, cryptocurrencies like Bitcoin and Ethereum continue to grow in popularity.

New Crypto Wallet Kresus Uses Amazon HSM to Store Keys-Kresus is a new crypto wallet that offers a seedless onboarding process and uses Amazon Web Services Hardware Security Module (HSM) to store private keys, making it more secure than traditional wallets.

(5/11/2023)-Welcome back to the Crypto Overnighter. My name is Nikodemus, I’ll be your host as we take a nightly look at the crypto, NFT, and metaverse space and the industry surrounding it. And keep in mind, nothing in this show should ever be considered financial advice.

Email: [email protected]
Salem Friends of Felines: https://sfof.org/
Twitter: https://twitter.com/CryptoCorvus1
Patreon: https://www.patreon.com/user?u=67416221

Loading comments...