Solanas Plan to Lower Inflation by 80% Fails Despite Community Support

Solana proposed SIMD-0228 in a bid to change the network’s inflation rate based on staking activity. Despite receiving strong backing from many community members, the proposal did not stand. SIMD-228 proposed switching the Solana inflation model from a fixed schedule to one that adjusts with staking activity. So instead of following a set of reduction […]

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230 Economists Warn the US Government’s Proposed Inflation Reduction Act Will Fuel Inflation

Last week, Democrats unveiled climate and health care legislation called the “Inflation Reduction Act,” and there’s a lot of debate over the name of the proposed public policy measures. After the legislation was revealed, 230 economists sent a letter to the country’s House and Senate leaders warning that the proposed policies will actually fuel inflation. More

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Utah Leads the Way with Proposed Bitcoin Reserve Legislation

Utah Leads in Potentially Passing Bitcoin Reserve Legislation A bill circulating in Utah could pave the way for state agencies to start holding Bitcoin as part of their reserves. This move is significant as Utah would be one of the first states in the US to take this step in embracing the digital currency. The [...]

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Legislation Introduced to Remove SEC Chair Gensler from His Role

United States Representative Warren Davidson has announced plans to introduce legislation that would remove SEC Chair Gary Gensler from his role and replace it with an Executive Director that reports to the Board. The move follows the SEC's proposed rule amendments that could bring certain brokers under additional regulatory scrutiny and redefine an "exchange." While Gensler has said the proposed changes could benefit investors and markets, SEC Commissioner Hester Peirce has criticized the move, accusing the regulator of stifling new technology and entrepreneurship. The SEC has faced criticism for using enforcement actions to develop the law on a case-by-case basis, rather than creating clear regulations. (Read More)

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UK Treasury Budget Discusses Separate Reporting of Crypto Assets in Tax Documents

Taxpayers in the United Kingdom will have to report cryptocurrency assets separately in their tax documents for the tax year 2024-25, according to the Exchequer’s recently published spring 2023 budget. New Criminal Offenses Planned by U.K. Government to Combat Tax Avoidance Amid the chaos in the banking sector following the collapse of Silicon Valley Bank’s [...]

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