U.S. Lawmakers Draft Bill To Allow Bitcoin, Crypto In 401(k) Plans
The bill amends ERISA of 1974 to include digital assets under “covered investments,” thereby shielding investment managers from liability.Republican lawmakers drafted a bill enabling investment managers to offer bitcoin in 401(k) plans.The bill seeks to remove liability for a breach of fiduciary duty for offering access to bitcoin and cryptocurrencies. The bill is likely to be presented following the midterm elections in November 2022. Three republican members of Congress presented a bill, named the Retirement Savings Modernization Act, designed to enable investment managers to offer....
Related News
Panamanian lawmakers will start to analyze a draft bill that seeks to regulate cryptocurrencies in the nation. Local deputy (MP) Rolando Rodríguez presented the bill to the Commerce Commission of Panama’s National Assembly. Draft Bill’s Author: Panama Is Lagging Behind Other Countries in the Matter According to La Estrella de Panama, the MP is advocating to pursue an agenda focused on digitalizing the Panamanian economy. He believes in the urgent need to regulate the country’s crypto environment, as the ecosystem “favors” the economy’s growth.....
Israeli lawmakers have proposed in a draft new law to treat bitcoin as a currency instead of an asset for tax purposes, local media reported. According to a report from Globes, four legislators from the Yisrael Beiteinu political party presented the Income Tax Ordinance (Taxation of the Sale of Digital Currencies) bill in the Israeli parliament Knesset on September 22. The bill by the four – MK Oded Forer, Yevgeny Soba, Yulia Malinovsky, and Alex Kushnir – proposes several changes to crypto taxation, including the amendment of the existing tax law to exempt digital assets like....
Several U.S. lawmakers have spoken up against the cryptocurrency tax provision in the $1 trillion infrastructure bill. While the bill has been revised from last week’s version, the text is still “unworkable,” according to Senator Pat Toomey. “I plan to offer an amendment to fix it.” Other lawmakers, including Sen. Ron Wyden, Rep. Warren Davidson, and Rep. Ted Budd have also voiced concerns. Lawmakers Oppose Crypto Tax Provision in Infrastructure Bill The U.S. Senate Committee on Banking, Housing, and Urban Affairs issued a statement by Ranking Member Pat....
Ukraine's parliament has approved the first version of a draft cryptocurrency bill, bringing regulation of the industry a step closer.
Cryptocurrency miners in Kazakhstan are to be required to convert up to three quarters of their income on locally registered exchanges, according to a new bill that’s advancing in the nation’s legislature. Lawmakers also want to make sure crypto companies pay their taxes and fees. Parliament of Kazakhstan Votes on Bill Regulating Activities of Crypto Miners and Exchanges A draft law designed to create a regulatory framework for both the production and circulation of digital assets in Kazakhstan has been approved on first reading in the Mazhilis. The bill and other supporting documents were....