+7 other companies also objected. No reason is required (nor should it be), but it would be interesting to know how an issuer considers this type of decision.
An interesting trend to watch
This microtransaction scenario is the best argument for why an tax exemption for stablecoin transactions is necessary.
Though enforceability would be tough anyway, it still leaves any given stablecoin transaction susceptible to being a tax code violation.
What if AI agents had to pay every time they read a webpage?
@Cloudflare CEO @eastdakota says that's where the internet is headed.
@Visa handles about 80,000 transactions per second at its peak. Cloudflare expects to need about 10 million on day one.
Self-custody not only embodies an activity involving an interface or device, but it inherently includes supply chain/delivery process by which a person obtains that interface/device. Policy conversations (both for and against) about self-custody will likely look different moving forward.
Tim Hite retweeted
We’re taking ‘Everything Under The Sun’ on the road…with special guests @DONBROCO!
Our pre-sale starts Tuesday, October 13 at 10 a.m. local. Tickets go on sale Friday, October 16 at 10 a.m. local. See you out there. 🔥
Coming soon: "The House of Senators"
News: Sens. Daines (R) and Merkley (D) have a BIPARTISAN rules change proposal to make the Senate function better
- Get rid of archaic delays like the "intervening day"
- Suspension votes at 2/3 margin for popular bills
- Fast track to floor for bipartisan bills from committee and for bipartisan Appropriations bills
They need 2/3 of the Senate to support it and they want to do it this year. They've talked to Schumer, Thune and the White House
Daines: “More bills passed, more votes taken, less time wasted"
Merkley: “If we don’t solve this, eventually one team or the other is going to get rid of the filibuster"
semafor.com/article/10/07/20…
Tim Hite retweeted
The Tigers broadcast showed how old the players in both teams’ lineups were when Justin Verlander made his debut. 😅
On its own, offering markets on tokenized pairs for digital assets - even assets across different regulatory regimes - is efficient and innovative.
Thinking through how to calculate the tax obligations for cross-asset trading gives me a headache.
The headache gets worse when considering how trade reporting obligations and surveillance works. (Yes, venues monitor for suspicious activity individually, but that doesnt capture the entire story since.)
Theres a lot of questions to address for cross-asset trading via tokenized pairs.
The final cloture vote doesnt tell the entire story amongst Rs. Some of their support for the final bill mightve been contingent on certain amendments like this.
A lot of people said it was all about ethics. If this amendment was filed with this level of support, its safe to say it wasnt all about ethics. It wouldve caused an uproar at the 11th hour.
It reminds me of 2021 and the broker rule in IIJA. Crypto was caught flatfooted then too.
I only say this because the 49-50 vote doesnt necessarily offer an accurate guage of R support moving forward. Hence my prior statement that crypto needs to reevaluate its advocacy.
Baseball's Jaromir Jagr
At age 52, Ichiro just threw a 127-pitch shutout with 17 strikeouts during an All-Star game against the best high school girls in Japan. seattletimes.com/sports/mari…















