Hodder Law Weekly Newsletter - May 5, 2023
Hello everyone,
I hope you are all having a great week! The price of Bitcoin as of Friday, May 5 at 6:35 p.m. EST is $29,552.
Headlines.
Lightning Labs aims to 'bring Bitcoin to billions' with the latest upgrade. An upgrade of the Litd node management tool will help make the Lighting network easier to use with an improvement to the node management system and a new account system that will allow multiple users to share a single lightning node.
U.S. House will have a crypto bill in two months, says Rep. Patrick McHenry. The Financial Services Committee and Agriculture Committee plan to have legislation regulating the crypto sector together in two months. The plan is to have a robust national security and cybercrime aspect to the bill.
Crypto tax guidance could come in the next twelve months. Julie Foerster, a project manager for the IRS, said the IRS is changing how it views cryptocurrency and wants to work closely with the industry to create a more streamlined strategy to account for digital assets.
Crypto companies plead with UK regulators not to follow the US. Brian Armstrong from Coinbase has said the UK is taking a more sensible approach to crypto regulations. If the crypto crackdown in the US continues, the UK could attract many American crypto and Web 3 companies to become a global tech leader.
The fall of Bitcoin in the Central African Republic: why this legal tender experiment failed. In a country where only 10% of the population has access to the internet, a Bitcoin economy is doomed from the start. However, there are other African nations where Bitcoin is proving to be successful in helping to bank the unbanked.
PayPal's Venmo to enable the ability to transfer Bitcoin to external wallets in May. This decision shows an understanding of why self-custody is such an essential aspect of Bitcoin. Venmo looks forward to adding more crypto products and services within the year.
Global political leaders to speak at Bitcoin 2023 conference. From May 18-20, Miami Beach will be the Bitcoin epicenter of the world. Politicians and business leaders in the tech industry worldwide will speak to the latest advancements in the Bitcoin industry. These are champions of the Bitcoin movement so come show your support in Miami Beach if you can!
An investment in knowledge pays the best interest - Benjamin Franklin
Make it a great week!
Sincerely,
Sasha Hodder
Hodder Law
