Top crypto tweets of the day – May 22nd

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  TL;DR Breakdown Binance Tax supports up to 100,000 transactions on the Binance platform. In the future, you will be able to import transactions from other wallets and blockchains into Binance Tax. Note that Binance Tax currently does not support transactions related to certain Binance products, such as Futures and NFTs. You can add these transactions manually or take them up elsewhere on your tax return. Currently, each user can generate a Capital Gain Report, Income Gain Report, or a report of all their transactions in the 2022 tax year. For many crypto users, filing taxes can be a confusing, cumbersome, and time-consuming procedure, and Binance Tax aims to eliminate this financial obstacle. If you’re struggling to remain on top of your crypto taxes or simply want to expedite the process, be sure to check out Binance Tax, our recently released crypto tax calculator.  Globally, crypto taxation regulations are constantly evolving. Binance recognizes that, as a result, many of the users, including seasoned traders, find submitting their taxes to be difficult and time-consuming. The Binance Tax tool aids you in keeping…

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• Randal Quarles and Vivek Tyagi challenge USD Hegemony with new bank

  Description Under the bold leadership of Randal Quarles, the well-respected banking regulator of the Trump era, and Vivek Tyagi, a former risk officer at the ill-fated Silicon Valley Bank, a unique financial institution christened ‘Currency Reserve’ is set to launch. This innovative venture is striving to address the acute global shortage of tangible dollars, a situation … Read more Under the bold leadership of Randal Quarles, the well-respected banking regulator of the Trump era, and Vivek Tyagi, a former risk officer at the ill-fated Silicon Valley Bank, a unique financial institution christened ‘Currency Reserve’ is set to launch. This innovative venture is striving to address the acute global shortage of tangible dollars, a situation they perceive to be detrimental to global financial markets. Unraveling the fabric of traditional banking In a radical departure from the norm, the bank will not follow traditional banking activities like extending loans or taking deposits. Instead, its primary aim will be to vend and deliver US dollars to local banks situated outside the US. It’s a pioneering endeavor that is poised to reshape the fabric…

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• John Deaton accuses SEC’s Bill Hinman of lying under oath

  TL;DR Breakdown John Deaton accuses the SEC of straying from its primary mission, particularly in digital asset regulation. Deaton criticizes the SEC’s framework, approved by Hinman, for ignoring the common enterprise factor of the Howey test. Hinman allegedly benefited financially from his law firm’s involvement with Bitcoin and Ethereum mining company Canaan. Description John Deaton, a well-known pro-crypto lawyer, has accused the U.S. Securities and Exchange Commission (SEC) of losing sight of its primary mission. He specifically questioned the testimony of Bill Hinman, the former Director of Corporation Finance at the SEC. Hinman had stated under oath that the SEC could only satisfy some aspects of the Howey … Read more John Deaton, a well-known pro-crypto lawyer, has accused the U.S. Securities and Exchange Commission (SEC) of losing sight of its primary mission. He specifically questioned the testimony of Bill Hinman, the former Director of Corporation Finance at the SEC. Hinman had stated under oath that the SEC could only satisfy some aspects of the Howey test to establish an offer or sale as an investment contract. Deaton raised concerns…

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• Brazilian lawmakers consider adding crypto to asset protection bill

  TL;DR Breakdown Brazilian lawmakers are seeking to include cryptocurrency holdings within the scope of this protective legislation. The recognition of cryptocurrencies as a form of real money within the regulatory framework paves the way for extending asset protection to crypto holdings. Description As discussions continue among Brazilian lawmakers regarding a bill aimed at offering robust protection to a significant portion of debtors’ savings assets, a separate initiative is seeking to include cryptocurrency holdings within the scope of this protective legislation. Expanding asset protection bill to include cryptocurrency The proposed bill, numbered 4.420/2021 and authored by Deputy Carlos … Read more As discussions continue among Brazilian lawmakers regarding a bill aimed at offering robust protection to a significant portion of debtors’ savings assets, a separate initiative is seeking to include cryptocurrency holdings within the scope of this protective legislation. Expanding asset protection bill to include cryptocurrency The proposed bill, numbered 4.420/2021 and authored by Deputy Carlos Bezerra, is currently undergoing consideration by the Constitution, Justice, and Citizenship Committee of the lower chamber of the Brazilian Parliament. This bill seeks to amend…

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• Valkyrie resubmits spot Bitcoin ETF application with Coinbase surveillance-sharing agreement

  TL;DR Breakdown Valkyrie Investments has resubmitted its spot Bitcoin ETF application, now including a surveillance-sharing agreement with Coinbase, in response to the SEC’s request for more clarity and comprehensiveness. The partnership with Coinbase aims to address the SEC’s surveillance requirements and signifies a potential shift in sentiment regarding spot Bitcoin ETFs. Description Valkyrie Investments has resubmitted its application for a spot Bitcoin exchange-traded fund (ETF) in the United States, making a significant update by including a surveillance-sharing agreement with Coinbase. It is important to note that the sudden move comes as a response to the U.S. Securities and Exchange Commission’s (SEC) request for more clarity and comprehensiveness … Read more Valkyrie Investments has resubmitted its application for a spot Bitcoin exchange-traded fund (ETF) in the United States, making a significant update by including a surveillance-sharing agreement with Coinbase. It is important to note that the sudden move comes as a response to the U.S. Securities and Exchange Commission’s (SEC) request for more clarity and comprehensiveness in the applications. Partnership with Coinbase to meet SEC’s surveillance requirements Nasdaq and Cboe Global…

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