News of the week. Friday, August 6

Friday, August 6. The week is coming to an end, so we can talk about the most interesting news in the crypto industry for this week.

US Senators propose to introduce new amendments for expanded taxation of crypts

United States Senators Ron Wyden, Cynthia Lummis and Pat Toomey put forward a proposal that says that it is necessary to remove miners, software developers and a number of other non-custodial industry residents from the party plan.

This plan carries a new investment as a tax on operations with digital assets, its amount is $28 billion.

During the time when the bill was considered, there were disagreements. This is due to the fact that it gave the definition of “broker”.

Senator Pat Toomey believes that it is too extensive and will be able to touch miners, which, in his opinion, should not be subject to the new rules. 

The organization for the promotion and protection of interests in the crypto industry also made comments about this.

Senators Ron Wyden and Cynthia Lummis put forward an amendment stating that only trading platforms and similar services should be considered a” broker ” in this bill.

«The cryptocurrency is not going anywhere. These amendments are necessary in order for digital assets to become closer to full integration in the financial sector of the United States. There is still a lot of work ahead,» Lammis concluded.

Robinhood securities rose by 80%

The stock of Robinhood Markets reached the $85 mark.

Due to the strong volatility, trading in Robinhood shares on the Nasdaq stock exchange stopped three times.

Retail investors purchased Robinhood securities for $19 million. Because of this, the company ranked sixth in the number of securities purchased, and the shares ranked eleventh among the best in the investment application.

At the end of July, the company held the first placement of its securities. The day before, Robinhood set the price for the start of trading under the HOOD ticker at $38, and the market estimated at $32 billion.

On the first day, trading was closed at $34.82. At the same time, the capitalization dropped to $29 billion.

More than half of US investors want to pay with digital assets

The BitPay payment system together with the news aggregator PYMNTS conducted a study. In the course of this study, it turned out that among the owners of cryptocurrency there are adherents of the opinion (their number is 60%) that it is possible to make daily purchases with the help of digital assets, even with existing barriers.

The study involved 8008 US citizens, with experience and without the acquisition and storage of digital assets.

The study involved 8008 US citizens, with experience and without the acquisition and storage of digital assets.

The main advantage of this kind of payments using cryptocurrencies is the security and confidentiality of purchases. About 60% of investors and 22% of residents who are not residents reacted positively to this question.

The function of getting a loan for making purchases of goods and services was interesting to half of the participants who are not crypto investors.

59% of owners of digital assets would be interested in the option of receiving discounts of loyalty points.

Among the disadvantages of this payment method, residents who are not investors called-poor knowledge in the field of digital assets, how and where they can be purchased and what taxation will be for this.

Other named disadvantages:

  • Poor distribution of digital assets (33.3%)
  • High volatility (25%)
  • Unsuccessful investment (22%)
  • No Understanding of what Cryptocurrencies are (8.1%)

As part of the proceedings with the SEC, Ripple is requesting documents from Binance

Ripple’s lawyers report that they are filing a petition with the New York state court, where it is said that they want to receive documents from a company associated with the Binance exchange. This was written on Twitter by lawyer James Phelan.

The petition is being filed as part of a long-term proceeding with the US Securities and Exchange Commission. Lawyers are requesting documents that are relevant to the case from the Binance cryptocurrency exchange, which is registered in the Cayman Islands.

The additional letter attached to the application says:

«Mr. Brad Garlinghouse wants to disclose that the Binance exchange has a number of documents and data that relate to this case, in particular, the process.»

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