According to News.bitcoin, Republican Senator Ted Cruz of Texas plans to use the Congressional Review Act (CRA) next week to challenge a tax regulation that violates the rights of cryptocurrency brokers. The move is seen not only as a procedural tactic, but also as a principled position against the extension of government power to free enterprise and technological innovation. The regulation has drawn severe criticism from the cryptocurrency industry, who have condemned the law as...
Republican Senator Ted Cruz plans to introduce a Congressional Review Act resolution next week that seeks to overturn a controversial tax rule that requires certain decentralized financial brokers to file total earnings reports. A month ago, the US Internal Revenue Service created a rule that would require "DeFi brokers" to collect user transaction information in the same way as traditional securities brokers. Some "decentralized financial industry players" will have to report to...
According to Bitcoin Magazine, U.S. Senator Ted Cruz recently said that he has invested in bitcoin through weekly dollar-cost averaging and has been investing for several years. He pointed out that during this time, the value of bitcoin has roughly tripled.
U.S. Sen. Ted Cruz, R-Texas, bought up to $100,000 worth of bitcoin in 2023, information he disclosed after visiting bitcoin mining farms and gaining support from blockchain advocacy groups. According to documents filed with the U.S. Senate on Aug. 13, Cruz purchased between $50,001 and $100,000 worth of bitcoin through financial services firm River Financial. The disclosure comes as the Texas Blockchain Commission endorses its 2024 re-election campaign. Cruz also previously reported between $15...