Congressman Reintroduces Cryptocurrency Tax Bill

Congressman Ted Budd has introduced a bill to the U.S. House of Representatives to reform the national tax code around cryptocurrency. According to the text of this bill, first filed on July 25, 2019, the goal is “to allow exclusion of gain or loss on like-kind exchanges of virtual currency.” While the proposed changes to…

Malaysian Authorities Bust Illegal Bitcoin Mining Operations

Authorities in Malaysia have raided several Bitcoin mining facilities after discovering that they were siphoning electricity for free, local media company Malay Mail reports. Tenaga Nasional Berhad (TNB), a major electricity and utility company in the country, reportedly lost around $760,736 (3.2 million Malaysian ringgit) in unpaid power fees to the miners. After the malpractice…

Alex Gladstein and the Moral Case for Lightning

We’ve all seen it: Our social media feeds suddenly inundated with ads related to products or services we had just been browsing for. In an increasingly cashless society, our everyday payments are being tracked and monitored by third parties in an attempt to learn our habits so they can advertise to us more effectively. Tracking…

Galaxy Digital Makes Its Next Move in Crypto Lending Markets

DrawBridge Lending (DBL), a digital asset loaning, borrowing and investing company, is partnering with merchant bank Galaxy Digital to greatly expand DBL’s institutional investment and lending capacity. According to a statement, the two companies “will initially develop a co-branded special purpose loan funding vehicle (‘SPV’) with a mandate to provide structured financing against institutionally held…