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Messages - Bitgarden@29

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Crypto tax calculation platform Koinly added Terra (LUNA) wallet support to make tax calculation easier for LUNA holders as the Canadian tax report deadline draws near.

Tony Dhanjal, head of tax at Koinly, said that LUNA support has been requested by many Koinly users, and with the integration, LUNA users will have a "way to accurately track and record their transactions to meet their tax obligations."

Calculating crypto tax is easy if a user’s crypto affairs are simple. However, Dhanjal told Cointelegraph that “the average crypto investor is connected to three to five exchanges, wallets or blockchains.” Because of this, working out the taxes using these sources is very difficult and the risks of errors are high. This is why Dhanjal recommends the use of a simple crypto tax calculation tool.

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In the hours and days before Tesla CEO Elon Musk’s purchase of social media giant Twitter, discussions on free speech were common among many online users both in and out of the crypto industry.

Twitter announced on Monday that it will become a privately held company following its board of directors accepting a bid from Musk to purchase the firm’s stock for $54.20 per share in cash — roughly $44 billion. Though the transaction is expected to close in 2022, it is still subject to the approval of Twitter stockholders as well as certain regulators.

In one of his last tweets prior to news of the purchase becoming public, Musk said, “I hope that even my worst critics remain on Twitter because that is what free speech means.” Twitter quoted the Tesla CEO saying “free speech is the bedrock of a functioning democracy, and Twitter is the digital town square.”

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New York's legislature might ban proof-of-work (PoW) crypto mining in the state for at least two years, citing environmental concerns.

Over the past weekend, on Saturday and Sunday, several crypto advocacy groups — including the Blockchain Association and Crypto Council for Innovation — rang the alarm over the upcoming vote in the New York Assembly. The state Senate's official webpage did not indicate a specific date for the vote.
 bill, S6486D/A7389C, seeks to establish a two-year moratorium on cryptocurrency mining that utilizes a proof-of-work (PoW) consensus mechanism. It would amend the existing environmental conservation law to comply with the 2019 Climate Leadership and Community Protection Act, which implies a 40% greenhouse gas emission reduction by 2030. As the co-sponsors of the bill believe, PoW mining stands in the way of reaching this goal. Hence, they propose a moratorium on mining permits issuance and renewal.

The bill offers some important reservations, though. As one clause goes, “the department shall not approve an application to renew an existing permit [...] if the renewal application seeks to increase or will allow or result in an increase in the amount of electric energy consumed or utilized by a cryptocurrency mining operation.” This could mean that mining businesses' applications seeking to preserve the existing capacities already licensed by the state would not be subject to new restrictions.

Another important caveat is that both moratorium paragraphs are aimed at the “electric generating facilities” that “utilize a carbon-based fuel,” meaning that the proposed legislation would not extend to the operations that use renewable energy in mining. It would, however, cover facilities like Greenidge Generation's converted natural gas power

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Fort Worth, Texas has launched a pilot program to mine Bitcoin in partnership with the Texas Blockchain Council.

In a Tuesday city council meeting, Fort Worth approved a resolution to start running three Antminer S9 Bitcoin (BTC) miners donated by the Texas Blockchain Council in the city hall building. The pilot program was aimed at recognizing “the exponential growth of the blockchain and cryptocurrency industries” in addition to encouraging Fort Worth to become a tech leader.

"This is a very small opportunity for Fort Worth that has big possible returns on investment," said Fort Worth Mayor Mattie Parker at the council meeting. "We are going to become the first city in the world to mine Bitcoin here on site at city hall."
Source:read

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After weeks of delays due,  in part, to partisan obstructionism, the United States Senate has confirmed the nomination of Lael Brainard, a member of the Federal Reserve's board of governors, as the next vice chair of the central bank.

In a 52–43 vote on the Senate floor on Tuesday, U.S. lawmakers confirmed Brainard a vice chair of the Federal Reserve for four years, potentially beyond her term as a governor ending in January 2026. Brainard was one of four nominees waiting for approval since Republican lawmakers in the Senate Banking Committee boycotted a February committee, which would have sent the prospective Fed vice chair’s nomination to the full Senate.source

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many ways, cryptocurrencies were designed to be an equalizer, a characteristic likened to the asset’s abilities to promote financial inclusion. Similarly, nonfungible tokens (NFTs) were designed to accomplish the same mission of equality, only across industries such as art, real estate and gaming. Unfortunately, despite these lofty goals, the early use of NFTs has unintentionally introduced new forms of inequality.

Consider the gaming industry, for example. Conventional NFT games have introduced the concept of rewarding players as members of a community-built ecosystem. The intention of many developers was to allow gamers to earn fair compensation for their efforts and redistribute power from major corporations to players. In reality, these games are subject to high barriers to entry, making it difficult for players to participate in these ecosystems.
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Furthermore, the document states that those organizations that do not operate under this license and are required to do so must face penalties in line with existing banking and financial rules in the island nation. The Gazette further determines that this decision will enter into force 20 days after its publication, which will be May 16. It also noted that the licenses would be extended for a second year.
The Central Bank of Cuba, when considering the license request, evaluates the legality, opportunity and socioeconomic interest of the initiative, the characteristics of the project, the responsibility of the applicants and their experience in the activity.”
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39
The Optimism Foundation has unveiled a new governance structure and token as part of its ongoing efforts to bring scalability and cost efficiency to Ethereum (ETH), the world’s largest smart contract platform.

The “Optimism Collective” was introduced Tuesday afternoon in a lengthy post that outlined its mission and governance mandate. Described as a “large-scale experiment in digital democratic governance,” the Optimism Collective essentially comprises a band of communities and stakeholders committed to improving Ethereum’s technical capabilities.

According to the details, the Optimism Collective will be governed by two components: the Citizens’ House and the Token House. The Citizens’ House will “facilitate and govern a process to distribute retroactive public goods funding” via revenues collected by the network. The Token House, which will be established through forthcoming airdrops, is tasked with voting on protocol upgrades and project incentives.Read more

40
Popular retail trading platform Robinhood has fired 9% of its workforce amid a firesale of its stock that has seen HOOD plunge to all-time lows.

In the past 30 days alone, HOOD has tanked roughly 38% to sit at $9.99 at the time of writing, marking the lowest price since the initial public offering (IPO) launch in mid-2021.

The decline is part of a longer-term bearish trend that has seen the price of HOOD continually decrease since its all-time high of roughly $70.39 on August 4, 2021, according to TradingView.

Robinhood publicly announced its staff readjustment via a Tuesday blog post by CEO and co-founder Vlad Tenev. He noted that after going through a “period of hyper-growth” between 2020 and H1 2021, the firm’s headcount had increased nearly six times, from 700 to nearly 3800 employees.
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Brazil’s Senate has passed the country’s first bill governing cryptocurrencies in a plenary session, which will set the stage for the creation of a regulatory framework for the country’s crypto industry.

The bill must be approved by the Chamber of Deputies and then signed off by President Jair Bolsonaro to become law in the country. This is expected to occur by the end of 2022, according to experts who spoke with Cointelegraph Brasil.

The session that approved the project was chaired by Senate President Rodrigo Pacheco, who said:
source

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