Hello everyone, Incrypted with you and this is traditional, already 100 – th digest of the most interesting news from the world of cryptocurrencies.
This is a weekly crypto news digest with results for last week. If speed is important to you, you can read the news in Live mode on our Telegram channel .
Countries and Regulators
Biden Signs Trillion Investment Act to the US infrastructure
President Joe Biden signed the Infrastructure Bill that imposes strong rules on businesses and brokers using digital currencies.
Initiative will increase transparency of their activities for the IRS, but also creates the risk of making claims against too wide a range of people, for example, node operators.
Under the new law, they may be required to collect and share user identification information that they themselves do not have access to.
Details of the bill:
– Any digital asset is equal to cash.
– Brokers must file tax reports on all transactions over $ 14 10.
– It will be necessary to indicate information on the sender in the reporting digital assets.
– Businesses and individuals that do not disclose such information are considered criminals.
– The law comes into force with 2024 of the year.
Circle begins active expansion into the Asian market and plans to launch to the Japanese yen stablecoin
Circle payment service enters thriving Asian crypto markets. Such plans were announced by the CEO of the company Jeremy Aller. The first point in this expansion will be Singapore, where the brand will open a regional headquarters. And also, as part of the newly formed venture arm, Circle Ventures is going to invest in stablecoins in the Japanese yen.
Aller admitted that the company sees huge potential in the Asian markets. It is expected that in the face of inflation and the search for profitability, participants will massively switch to stablecoins, especially in the field of loans and lending. Commenting on Circle Yield’s latest project, Aller said:
“Many are focusing on people who hedge by buying bitcoin directly. But we think that for managers of capital within corporations, corporate treasurers and so on, it would be more attractive to distribute returns in stablecoins. ”
Binance has published a manifest from 11 fundamental rights of crypto users
Cryptocurrency giant Binance has published a document titled “14 fundamental rights for cryptocurrency users. ” This is a set of rules that calls for the protection of personal data, universal access to financial instruments, etc.
Binance calls its document the global regulatory framework for crypto markets and refers to all exchanges. The rules state that platforms are required to protect users from fraudsters and provide sufficient liquidity for free trading.
Binance’s priority has always been ordinary users – everything, from their safety to the experience of interacting in a large community. This is the essence of the cryptosphere, and it is important that we at the level of the entire industry do not lose sight of this. By offering a list of the rights of users of the cryptocurrency market, we hope to give a voice to those who are usually drowned out by the highest financial circles, ”said Binance CEO Changpeng Zhao (CZ).