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Some countries have already been making huge strides in accommodating crypto by providing havens for facilities, passing laws in favor of crypto, and even accepting it as legal tender. Not to be outdone, the US under the Biden administration have been looking into crypto's benefits and risks to its economy for some time now, to be able to propose laws to suit the majority of concerned crypto enthusiasts and detractors (link). Now two US senators, Republican Senator Cynthia Lummis and Democratic Senator Kirsten Gillibrand, have most recently unveiled their latest bill for crypto. These are the main points of the bill, from what I can glean in the news article: The bill will stipulate rules and regulations for consumer protection There will be clarification and certainty to be provided to crypto markets Oversight of the bill, once passed into law, will be given to the Commodity Futures Trading Commission (CFTC) For consumer protection, the ability to use the law to sue fraudsters and money launderers is pretty much a given. About certainty to crypto markets, public disclosures of stablecoins (whether they are really pegged to certain currencies or not) may become needed, especially after what happened with TerraUSD last month. And CFTC is being seen as the better overseer of the proposed law, as it is believed to be less strict than the Securities and Exchange Commission (SEC). There may be a delay in the deliberations on the bill due to the upcoming midterm elections, but it is expected to be paid close attention shortly after. The news article link is here. source: https://www.reuters.com/article/usa-senate-crypto-currency/u-s-senators-unveil-bill-to-regulate-cryptocurrency-idUSL1N2XU1LD

The situation of regulations and taxes on cryptocurrencies has been a common theme in recent years, where countries such as South Korea, China or Japan have responded in a neutral, positive or negative way, but cryptocurrencies took a back seat during 2020 thanks to the crisis produced by the covid. However, due to the recent bull market, where Bitcoin and other cryptocurrencies have doubled in value in less than a month, the issue of taxes came to light again. This is where companies such as TaxBit come to the fore, TaxBit aims to partially or completely automate the payment of taxes generated from operations in the crypto market. Firms such as Paypal, coinbase and Winklevoss capital have shown they supported TaxBit, investing unknown amounts, suggesting that in the future a regulation for Bitcoin could arrive. 1)What do you think about it? 2)Regulations and Taxes Good for Cryptocurrencies? I am intrigued with what may happen in the future.

Governments depends on tax, without tax a government would be poor and with been pure they have no power I have seen so many unfair contracts made by the government of my country concerning minerals oil etc. This is because the country lacks capital to dig those minerals on their own and yet they need money so they are forced to make those contracts. Here is my concern when crypto goes extreme in a country like this it would be the worse case scenario, it is a good thing in many third world countries crypto has not known and used by many South Africa is not a third world country but see how they panic with so many people been using crypto and thus they government does not get much tax from such user. e With crypto governments can many laws about, yes I agree, but they are laws they can not enforce. Would the third world countries survive?