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forklog.media Tax Proposals for Digital Assets Spark Debate in Congress

The U.S. House of Representatives' tax committee held hearings on a package of initiatives concerning the taxation of digital assets. Lawmakers discussed six bills, one draft project, and an amendment to two initiatives. The package addresses tax reporting for small transactions, mining and staking, donations in digital assets, voluntary disclosure of violations, and the application of anti-abuse rules to the market. According to The Block, the hearings revealed disagreements over the timeline for advancing the initiatives. Republicans emphasize the need for clear rules, while some Democrats pointed out the risks of abuse, including the deferral of taxation on mining and staking income.

forklog.media Russian Tax Bill on Cryptocurrency Passes First Reading

On June 9, the Russian State Duma approved in the first reading a bill on the taxation of cryptocurrency operations, reports TASS. The document aligns the Tax Code with the forthcoming law "On Digital Currency and Digital Rights." What Will Change The tax base for cryptocurrency transactions is proposed to be determined as the positive difference between income and documented expenses. The latter are planned to be calculated using the FIFO method. The bill also introduces the possibility of offsetting — balancing positive and negative financial results from operations with digital currency and foreign digital rights within a single tax period. Brokers, trust managers, and digital depositories will act as tax agents for PIT in such operations if they are the source of income payment to an individual. The State Duma Committee on Budget and Taxes suggested discussing the extension of these functions to exchanges for the second reading. For companies, income and expenses from operations with digital currency, excluding mining, under foreign trade agreements will be included in the general profit tax base. Foreign digital rights in this part are planned to be equated with cryptocurrencies. It is proposed to exempt the sale of non-deliverable foreign digital rights, which only certify monetary claims, from VAT. The exemption will also apply to the services of depositories and organizations conducting cryptocurrency exchanges. Periodic payments on debt DFA, not related to redemption, are proposed to be included in the profit tax base according to the rules for interest income on loans. For ruble-denominated debt DFA of Russian issuers traded on the organized market, a preferential rate is introduced similar to interest on bonds. Timeline The Russian government submitted the bill to the State Duma on April 29. If the document is finally adopted, it will come into force a month after official publication.  The rules for market valuation of cryptocurrencies for miners are set to take effect on January 1, 2028, and a separate regime for debt DFA on January 1, 2030. Previously, the November 2024 version of the tax law proposed a PIT rate of 13-15%, as well as a 25% profit tax for legal entities. The basic project "On Digital Currency and Digital Rights" was approved in the first reading on April 21, 2026. ForkLog provided an in-depth analysis of its provisions in a podcast.

news.bitcoin.com Defillama Adds Pre-IPO Perps for OpenAI, SpaceX, and Anthropic as Onchain AI Bets Heat Up

Defillama has begun tracking pre-IPO perpetual futures for Anthropic, OpenAI, SpaceX, and Quantinuum, as onchain traders are racing to bet on the year’s biggest private companies before they go public. Onchain Markets for Companies That Aren’t Public Yet Crypto data aggregator Defillama said it has added new pre-IPO perpetual futures markets spanning four closely watched […]

cryptobriefing.com Matt Rife: Being uninformed can lead to happiness, why personal focus enhances well-being, and the ethical concerns of award shows | This Past Weekend

Matt Rife's interest in horror projects hints at a new direction beyond his comedy success. The post Matt Rife: Being uninformed can lead to happiness, why personal focus enhances well-being, and the ethical concerns of award shows | This Past Weekend appeared first on Crypto Briefing.

cryptobriefing.com Manchester United’s summer transfer push puts spotlight on its Tezos partnership and fan token ecosystem

Manchester United's transfer activities highlight the challenges and potential instability in crypto partnerships and fan token ecosystems. The post Manchester United’s summer transfer push puts spotlight on its Tezos partnership and fan token ecosystem appeared first on Crypto Briefing.

blockonomi.com Humanity Protocol Hack: How One Infected Device Handed an Attacker Seven Private Keys

TLDR: One compromised developer machine exposed seven private keys tied to Humanity Protocol’s infrastructure. The attacker drained 141M H from the ETH bridge and minted 300M H on BSC using stolen Safe owner keys. No smart contract bug was involved — every attacker action used legitimate, compromised private keys. The BSC H token remains unrecoverable [...] The post Humanity Protocol Hack: How One Infected Device Handed an Attacker Seven Private Keys appeared first on Blockonomi.

bitcoinist.com Maelstrom’s Bitcoin Grants Hit 20 Months — 5 Developers, 4 Active, Here’s What They’ve Accomplished

Maelstrom, the family office of BitMEX co-founder Arthur Hayes, has published its first annual report for its Bitcoin Grant Program — revealing that four active developers have collectively advanced Bitcoin’s privacy, security, and codebase resilience across a 20-month program that began in October 2024, with five developers supported in total since inception. Related Reading: Trump’s […]

news.bitcoin.com Hands-on Review by Bitcoin.com: Exploring the CoinRabbit Crypto Ecosystem

Long-term crypto holders rarely want to sell. Whether it is Bitcoin, Ethereum, XRP, or other major digital assets, many investors view their holdings as long-term capital rather than short-term trading inventory. The challenge, however, is that markets move, opportunities emerge, and liquidity is still necessary. That creates a familiar balancing act across crypto: how do […]

cryptobriefing.com Social Security trust fund expected to deplete by Q4 2032, one quarter sooner than last year’s forecast

The accelerated depletion of the Social Security trust fund underscores urgent fiscal challenges, potentially impacting retirement planning and economic stability. The post Social Security trust fund expected to deplete by Q4 2032, one quarter sooner than last year’s forecast appeared first on Crypto Briefing.

forklog.media Botanix Announces Gradual Shutdown of Bitcoin L2 Network

The Botanix team has announced a phased shutdown of its L2 network on Bitcoin, urging users to withdraw assets by July 9, 2026. It is with a heavy heart that we announce we are winding down the Botanix network.This decision is the hardest one we have made in four years, and we want to share the reasoning openly because the people who backed us, built with us, and used what we shipped deserve more than a…— Botanix 🕷️ (@botanix) June 9, 2026 The team explained the decision was due to weak demand for Bitcoin programmability. Developers assessed the market as immature: most DeFi sector users prefer the wrapped version of the first cryptocurrency on the Ethereum network, while on-chain activity is increasingly concentrated on major platforms like Hyperliquid and Robinhood. According to Botanix, users primarily view Bitcoin as a store of value rather than an asset for high-frequency trading. As a result, the network's commission revenues were insufficient to cover infrastructure costs. After July 9, assets remaining on the network will be controlled by the validator group Federation. Other funds not withdrawn by the deadline will be irretrievable. Botanix positioned itself as an EVM-compatible L2 solution for Bitcoin. The project launched its mainnet on July 1, 2025, promising to reduce block addition times from 10 minutes to five seconds and bring DeFi tools to the first cryptocurrency's ecosystem. In May 2024, Botanix Labs raised $8.5 million, bringing total funding to $11.5 million. The round included Polychain Capital, Placeholder Capital, Valor Equity Partners, and ABCDE. Earlier in the same year, analysts at Galaxy Digital suggested that by 2030, more than $47 billion in liquidity could transition to Bitcoin L2 solutions.

forklog.media EU Proposes Sanctions Targeting Crypto Exchanges in New Package

The European Commission unveiled its 21st package of sanctions against Russia, encompassing measures in financial services, crypto assets, trade, and energy. The financial segment includes asset freezes for nearly 90 banks and a ban on transactions for more than 30 credit institutions in Russia and third countries. The package places particular emphasis on the crypto sector. For the first time, it proposes restrictions on 11 crypto platforms that the EU believes are facilitating sanctions evasion. European Commission President Ursula von der Leyen announced plans to create a mechanism for a complete ban on crypto services from third countries if they assist in lifting restrictions. The document also proposes freezing the current price cap on Russian oil at $44.1 per barrel for six months, along with restrictions against shadow fleets, traders, and refineries from third countries.Additionally, import restrictions will, for the first time, affect fish products and high-performance metal alloys critical for the defense and aerospace industries. The proposal is on the agenda for the EU member states' Committee of Permanent Representatives (Coreper II) meeting on June 10. Approval of the sanctions requires unanimous consent from all 27 member states. In January, the US first imposed sanctions on Bitcoin exchanges for links to Iran.

blockonomi.com Bitcoin Whale Capitulation and Rising Exchange Inflows Point to Final Bear Market Flush

TLDR: Binance BTC inflows from 100–10,000 BTC wallets spiked sharply as Bitcoin’s price declined in June. Short- and long-term whales collectively locked in over $2.5 billion in realized losses recently. Short-term whales hold roughly $16 billion in unrealized losses after a brief May recovery reversed. CryptoQuant’s MorenoDV links capitulating whales and exchange inflows to late-stage [...] The post Bitcoin Whale Capitulation and Rising Exchange Inflows Point to Final Bear Market Flush appeared first on Blockonomi.

cryptopotato.com Ethereum Price Prediction: How Close Is ETH to a Sub-$1.5K Breakdown?

Ethereum remains under significant selling pressure after losing a major support area and extending its decline toward the lower boundary of its broader trading range. While buyers have managed to defend the range lows for now, the market structure continues to favor the bears unless ETH can reclaim several key resistance levels overhead. Ethereum Price […]

bitcoinist.com Analyst Reveals Why They Dumped Their XRP, But It’s Not The End

Over the last year, the XRP value has declined by almost 50%, erasing the majority of the gains that were realized from the 2024 rally. As time has gone on, the sentiment surrounding the altcoin has continued to decline, with many investors lamenting this poor performance. Recently, one XRP investor revealed that they had dumped […]

news.bitcoin.com ‘De-Worsified, Not Diversified’: Robert Kiyosaki Warns Investors on a Hidden Risk

Robert Kiyosaki says most people who think they are diversified are actually “de-worsified,” holding a pile of assets that all sink together when markets turn. Word Play With a Warning Robert Kiyosaki, the author of the best-selling personal finance book “Rich Dad Poor Dad,” is recasting a familiar piece of investing advice. In a post […]

blockonomi.com Kalshi Opens XRP Perpetual Futures to Regulated U.S. Market

TLDR: XRP perpetual futures are now live on Kalshi for regulated U.S. traders. XRPPERP gives traders leveraged XRP exposure without directly holding the token. Kalshi uses CF Benchmarks pricing to support XRP funding and settlement. The launch expands Kalshi’s crypto derivatives market beyond Bitcoin and Ethereum. XRP perpetual futures have started trading on Kalshi, giving [...] The post Kalshi Opens XRP Perpetual Futures to Regulated U.S. Market appeared first on Blockonomi.

forklog.media Tax Proposals for Digital Assets Spark Debate in Congress

The U.S. House of Representatives' tax committee held hearings on a package of initiatives concerning the taxation of digital assets. Lawmakers discussed six bills, one draft project, and an amendment to two initiatives. The package addresses tax reporting for small transactions, mining and staking, donations in digital assets, voluntary disclosure of violations, and the application of anti-abuse rules to the market. According to The Block, the hearings revealed disagreements over the timeline for advancing the initiatives. Republicans emphasize the need for clear rules, while some Democrats pointed out the risks of abuse, including the deferral of taxation on mining and staking income.

news.bitcoin.com XRP Slips Toward $1.10 as Ripple Taps RLUSD to Fund Safe Water for Millions

XRP is trading on shaky ground near $1.11 as a fresh selloff threatens to drag it under $1.10, even as Ripple puts its RLUSD stablecoin to work funding clean-water access for millions of people. A Price on Shaky Ground XRP has slipped into a precarious technical setup, breaking below a bullish trendline support at $1.1620 […]