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Bitcoin LEGISLATION Incoming (!)

 
- NEO -
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User ID: 78797943
United States
06/07/2022 10:10 AM
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Bitcoin LEGISLATION Incoming (!)
"ENERGY
Lummis-Gillibrand requires a study on the power consumption of digital assets.

The study will seek to determine the best ways to encourage innovation while ensuring these technologies work together with other areas of society to help the world move closer to climate goals through the deployment of more renewable energy sources and clean energy as well as reducing energy waste.

This task will lie with the Federal Energy Regulatory Commission, which will work in consultation with the CFTC and the SEC to conduct the study. One of its goals is to analyze the type and amount of energy used for mining.

TAXES
As previously hinted at by Senator Lummis, the legislation will provision a tax exemption for transactions of up to $200 as a means to encourage the use of digital assets as payment for goods and services. However, the bill notes that all transactions which are part of the same transaction or a series of related transactions will be treated as a single transaction for the purposes of the tax exemption.

The bill goes one step further to declare that miners are not to be seen as brokers, and that digital assets obtained from mining activities are not to be treated as income until they are converted into fiat currency.

Additionally, Lummis-Gillibrand also specifies that digital asset lending agreements are not generally taxable events, similarly to securities lending transactions, and provisions that certain decentralized autonomous organizations (DAOs) are business entities for tax purposes. However, this requires that the DAO be incorporated or organized under the laws of a jurisdiction as such.

Lastly, on the taxation side, the bill requires the U.S. Internal Revenue Service (IRS) to study and clarify issues such as forks and airdrops, merchant acceptance of digital assets, mining and staking, charitable donations and the legal characterization of stablecoins as indebtedness."

[link to www.zerohedge.com (secure)]


damned
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BoneTrout

User ID: 77754297
United States
06/07/2022 10:17 AM

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Re: Bitcoin LEGISLATION Incoming (!)
They still need coins to decouple from the bullshit and become stand alone items .

Otherwise the ruble to USD will suck the whole cap dry

Last Edited by messagehalted on 06/07/2022 10:18 AM
All my post are theatrical artistic writing .
Anonymous Coward
User ID: 82743529
06/07/2022 10:19 AM
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Re: Bitcoin LEGISLATION Incoming (!)
So they are going to use crypto assets to power their transition from fossil fuels to solar/wind/whatever the fuck else they (WEF/Davos/Bilderberg) have planned.
- NEO -  (OP)

User ID: 78797943
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06/07/2022 10:24 AM
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Re: Bitcoin LEGISLATION Incoming (!)
So they are going to use crypto assets to power their transition from fossil fuels to solar/wind/whatever the fuck else they (WEF/Davos/Bilderberg) have planned.
 Quoting: Anonymous Coward 82743529


Yes, digital currency will represent the use of energy.

There will be strick limits on what energy can be used for and who gets it.
- BE FREE -
Anonymous Coward
User ID: 79642607
United States
06/07/2022 10:41 AM
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Re: Bitcoin LEGISLATION Incoming (!)
TAXES
As previously hinted at by Senator Lummis, the legislation will provision a tax exemption for transactions of up to $200 as a means to encourage the use of digital assets as payment for goods and services. However, the bill notes that all transactions which are part of the same transaction or a series of related transactions will be treated as a single transaction for the purposes of the tax exemption.

The bill goes one step further to declare that miners are not to be seen as brokers, and that digital assets obtained from mining activities are not to be treated as income until they are converted into fiat currency.



damned
 Quoting: - NEO -


Notice its just like I said in the other BITCOIN thread. Cryptocurrencies are not treated for taxation until converted into FIAT CURRENCIES. I.e. because they're YOUR PROPERTY. So even if you earn them via mining (or for DASH masternode rewards) they are NOT SUBJECT TO TAXATION until you convert them to dollars.

hesright
Mother Maggie

User ID: 83417648
United States
06/07/2022 10:44 AM
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Re: Bitcoin LEGISLATION Incoming (!)
"ENERGY
Lummis-Gillibrand requires a study on the power consumption of digital assets.

The study will seek to determine the best ways to encourage innovation while ensuring these technologies work together with other areas of society to help the world move closer to climate goals through the deployment of more renewable energy sources and clean energy as well as reducing energy waste.

This task will lie with the Federal Energy Regulatory Commission, which will work in consultation with the CFTC and the SEC to conduct the study. One of its goals is to analyze the type and amount of energy used for mining.

TAXES
As previously hinted at by Senator Lummis, the legislation will provision a tax exemption for transactions of up to $200 as a means to encourage the use of digital assets as payment for goods and services. However, the bill notes that all transactions which are part of the same transaction or a series of related transactions will be treated as a single transaction for the purposes of the tax exemption.

The bill goes one step further to declare that miners are not to be seen as brokers, and that digital assets obtained from mining activities are not to be treated as income until they are converted into fiat currency.

Additionally, Lummis-Gillibrand also specifies that digital asset lending agreements are not generally taxable events, similarly to securities lending transactions, and provisions that certain decentralized autonomous organizations (DAOs) are business entities for tax purposes. However, this requires that the DAO be incorporated or organized under the laws of a jurisdiction as such.

Lastly, on the taxation side, the bill requires the U.S. Internal Revenue Service (IRS) to study and clarify issues such as forks and airdrops, merchant acceptance of digital assets, mining and staking, charitable donations and the legal characterization of stablecoins as indebtedness."

[link to www.zerohedge.com (secure)]


damned
 Quoting: - NEO -


In your TITLE OP did you mean bitcoin or all crypto currencies. Bitcoin was just the first

Last Edited by Mother Maggie on 06/07/2022 10:46 AM
Yea though I walk thru the valley of gross inability to recognize the absurd ..lies...propaganda and dark shits... I will fear it all NOT.. for THOU ART WITH ME. AND JESUS SAID ON THE CROSS.. FORGIVE THEM FATHER.. THEY KNOW NOT WHAT THEY DO





GLP