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VOICE ARCHIVE

Jerry Brito

@jerrybrito
28 posts
2024-01-17
Also interesting to note that this claim that the law “requires the Treasury Department to issue regulations before it goes into effect” is in the press release accompanying the official Announcement. The official Announcement doesn't make any such claim. Instead it just says...
2024-01-17 View on X
Decrypt

The US Treasury and the IRS say they are not currently enforcing a rule requiring businesses to report getting $10K+ in digital assets within 15 days of receipt

The tax law would require business-related crypto transactions over $10,000 to be reported like cash, but it's not quite ready yet.

Glad to see the IRS has belatedly listened to us and recognized the impossibility of complying with 6050I using crypto, but its statement on the matter is baffling. They state that the new crypto reporting obligations in the Infrastructure Investment and Jobs Act “requires the...
2024-01-17 View on X
Decrypt

The US Treasury and the IRS say they are not currently enforcing a rule requiring businesses to report getting $10K+ in digital assets within 15 days of receipt

The tax law would require business-related crypto transactions over $10,000 to be reported like cash, but it's not quite ready yet.

2023-08-27
It's almost 300 pages long and complicated. Doesn't seem to be completely bad or completely good. We at Coin Center are digesting it and will have more to say in the coming days.
2023-08-27 View on X
Wall Street Journal

The US Treasury proposes new rules that would treat crypto exchanges more like stockbrokers, requiring them to report gross proceeds to the IRS starting in 2026

including DAOs and certain wallet providers—or to create them... Richard Rubin / @richardrubindc : One could be cynical/clever and note the incentive for Congress to purport to rai...

2023-08-26
It's almost 300 pages long and complicated. Doesn't seem to be completely bad or completely good. We at Coin Center are digesting it and will have more to say in the coming days.
2023-08-26 View on X
Wall Street Journal

The US Treasury proposes new rules that would treat crypto exchanges more like stockbrokers, requiring them to report gross proceeds to the IRS starting in 2026

including DAOs and certain wallet providers—or to create them... Emily Wilkins / @emrwilkins : US Treasury and IRS out with a new proposed rule today on taxing crypto and digital a...

2022-12-15
The bipartisan Digital Asset Anti-Money Laundering Act, introduced today by Sens. Warren and Marshall, is the most direct attack on the personal freedom and privacy of cryptocurrency users and developers we've yet seen. We explain here: https://www.coincenter.org/...
2022-12-15 View on X
CoinDesk

US Senators Elizabeth Warren (D) and Roger Marshall (R) introduce the Digital Asset Anti-Money Laundering Act, including KYC requirements for wallets and miners

2022-10-13
2/ Not only are we fighting for privacy rights, but if this precedent is allowed to stand, OFAC could add entire protocols like Bitcoin or Ethereum to the sanctions list in future, thus immediately banning them without any public process whatsoever. This can't go unchallenged.
2022-10-13 View on X
The Block

DC-based policy nonprofit Coin Center sues the US Treasury Department, saying the treasury overstepped its authority by sanctioning Tornado Cash in August 2022

Lawsuit Says Government's Action ‘Was Unlawful’ Aditya Anand / Ethereum World News : U.S Treasury Hit With Second Lawsuit For Tornado Cash Sanctions Reynaldo Marquez / Bitcoinist.c...

1/ Today Coin Center filed suit in federal district court against OFAC challenging its authority to sanction Tornado Cash immutable smart contracts.
2022-10-13 View on X
The Block

DC-based policy nonprofit Coin Center sues the US Treasury Department, saying the treasury overstepped its authority by sanctioning Tornado Cash in August 2022

Lawsuit Says Government's Action ‘Was Unlawful’ Aditya Anand / Ethereum World News : U.S Treasury Hit With Second Lawsuit For Tornado Cash Sanctions Reynaldo Marquez / Bitcoinist.c...

2022-09-09
I'm glad to see folks taking to court the arguments re Tornado Cash that Coin Center has been developing. The complaint filed today in the Western District of Texas is very well done. We continue to work on our own effort. https://twitter.com/...
2022-09-09 View on X
Fortune

Six people, including Coinbase employees and prominent crypto developers, sue the US Treasury, Janet Yellen, and officials in Texas over Tornado Cash sanctions

Plaintiffs Joseph Van Loon, Tyler Almeida, Alexander Fisher, Preston Van Loon … David Yaffe-Bellany / New York Times : Investors Sue Treasury Department for Blacklisting Crypto Pla...

2022-05-19
No matter what else is going on, this has always been why crypto matters for me https://www.ft.com/...
2022-05-19 View on X
Financial Times

Chinese citizens angered by Shanghai's ongoing lockdowns are evading censorship of a viral post and video criticizing the government by minting them into NFTs

Growing popularity of decentralised ledger technology presents fresh challenge for country's censors Tweets: @caseynewton , @tim , @katebevan , @jerrybrito , @alisonkilling , and @...

2022-03-30
I'm not sure the government should issue a digital dollar, but if it did, the ECASH Act has the best conception of what digital dollar should be. https://lynch.house.gov/... https://twitter.com/...
2022-03-30 View on X
Wired

A look at the ECASH Act, which would direct the US Treasury to pilot digital dollars that would be stored on hardware and not on a distributed blockchain ledger

If you want the privacy of paper money, you need something that leaves no paper trail.  —  When you hear the phrase “digital cash,” what comes to mind?

2022-03-10
Well, the EO is just further affirmation that when serious officials take a sober look at crypto, the reaction is not to light their hair on fire, but instead to recognize it as a innovation that the U.S. will want to foster and lead while mitigating obvious risks.
2022-03-10 View on X
Wall Street Journal

Biden signed an executive order directing federal agencies to study the risks posed by digital assets, such as evading sanctions, and consider a digital dollar

OK, I read it. Here's my quick take on the executive order.
2022-03-10 View on X
Wall Street Journal

Biden signed an executive order directing federal agencies to study the risks posed by digital assets, such as evading sanctions, and consider a digital dollar

2022-01-07
I'm glad this fact is penetrating mainstream consciousness, but the word “actually” in this headline tells us how much work there's left to be done. https://www.axios.com/... https://twitter.com/...
2022-01-07 View on X
Chainalysis

A record $14B flowed to criminal crypto addresses in 2021, up from $7.8B in 2020, driven by DeFi scams; total crypto transaction volume hit $15.8T, up 567% YoY

it leaves many exposed; see damage scammers did in #web3 https://www.cnbc.com/... @chainalysis : THREAD: Here are a few key insights from today's preview of our 2022 Crypto Crime R...

2021-09-09
1/ If true, this is pretty underhanded. I know it's easy for me to say, but Coinbase should go ahead and launch its product, let the SEC sue, and go to court. Let the SEC make its case and let a judge decide what the law is. https://blog.coinbase.com/...
2021-09-09 View on X
The Block

Coinbase says SEC threatened to sue over its yet-to-be-launched Lend program, following discussions with the regulator that have lasted almost six months

Frank Chaparro / The Block :

2021-08-31
“Gaming platforms can only offer online gaming to minors from 8 p.m. to 9 p.m. on Fridays, weekends and public holidays.” This is weakness, not strength. https://twitter.com/...
2021-08-31 View on X
Bloomberg

State media says China is restricting online gaming for minors to three hours most weeks of the year, from 8pm to 9pm on Fridays, weekends, and public holidays

- The country is imposing its strictest limits yet on play time  — Beijing is waging a campaign to groom productive youths

2021-08-30
“Gaming platforms can only offer online gaming to minors from 8 p.m. to 9 p.m. on Fridays, weekends and public holidays.” This is weakness, not strength. https://twitter.com/...
2021-08-30 View on X
Bloomberg

State media says China is restricting online gaming time of minors to 3 hours most weeks of the year, from 8pm to 9pm on Fridays, weekends, and public holidays

- The country is imposing its strictest limits yet on play time  — Beijing is waging a campaign to groom productive youths

2021-08-10
Senator Warner has revised his amendment yet again. He now excludes proof-of-work and proof-of-stake, but not any other consensus mechanism. I am speechless. Now they're picking 2 winners? There are other consensus mechanisms! Why do this? https://twitter.com/...
2021-08-10 View on X
Bloomberg

A bipartisan group of senators says it has reached a compromise on cryptocurrency reporting in the infrastructure bill

1/ There is now a compromise amendment being offered by Senators Toomey, Lummis, Warner, Portman, and Sinema that we think all senators should support.
2021-08-10 View on X
Bloomberg

A bipartisan group of senators says it has reached a compromise on cryptocurrency reporting in the infrastructure bill

1/ There is now a compromise amendment being offered by Senators Toomey, Lummis, Warner, Portman, and Sinema that we think all senators should support.
2021-08-10 View on X
Decrypt

The latest cryptocurrency compromise amendment to Senate's infrastructure bill fails to reach a vote after Sen. Shelby files an objection over military spending

The Senate rejected an amendment championed by the cryptocurrency industry that exempts non-custodial crypto actors …

Senator Warner has revised his amendment yet again. He now excludes proof-of-work and proof-of-stake, but not any other consensus mechanism. I am speechless. Now they're picking 2 winners? There are other consensus mechanisms! Why do this? https://twitter.com/...
2021-08-10 View on X
Decrypt

The latest cryptocurrency compromise amendment to Senate's infrastructure bill fails to reach a vote after Sen. Shelby files an objection over military spending

The Senate rejected an amendment championed by the cryptocurrency industry that exempts non-custodial crypto actors …