Stable Coins and the Law: The Dangers of Unbundled Blockchain Banking

Stable Coins and the Law: The Dangers of Unbundled Blockchain Banking

The differences between traditional banking and blockchain banking are immense. The issuance and administration of stable coins impose substantial risks if not regulated properly. In this essay, the inherent risks posed by the uncoupling of formerly inseperable banking functions are explored and the argument is brought forward that the model of current stable coin regulations sounds the death of the ‘trustless’ promise of the blockchain dream.

Introducing: The Cryptocurrency Tax Fairness Act

Introducing: The Cryptocurrency Tax Fairness Act

On September 8th, a bipartisan bill called the Cryptocurrency Tax Fairness Act has been introduced to the United States Congress. The Bill creates a de minimis threshold of $600 for the purpose of capital gains taxation. Moreover, it poses a requirement on the Treasury Department to issue guidelines for informational reporting on digital currency transactions for which capital gains is due.