Crypto Tax Guidance Could Come ‘in 12-ish Months,’ Says IRS Official

The IRS’ point person for taxation of cryptocurrencies stresses need for community engagement at Consensus 2023Source

Web3 News From Consensus

A special edition of The Airdrop on the ground in Austin at CoinDesk’s festival.Source

Bermuda Premier David Burt: ‘Nobody Is Coming to Bermuda to Flee Regulation’

Five years after the island jurisdiction passed its digital assets regulation, a steady stream of companies is coming to Bermuda to be regulated.Source

Bitcoin Use Cases Are Seeing ‘Explosive Growth,’ Trust Machines Says

“Bitcoin is fun again because there’s a place to build again,” said Muneeb Ali, CEO of Trust Machines and co-founder of Stacks, on StageX at Consensus 2023.Source

Mastercard Launches Crypto Credential Service for Cross-Border Transfers

The set of verification standards uses technology from the CipherTrace, the well-known blockchain analytics platform Mastercard agreed to acquired in late 2021.Source

Yuga Labs CEO: ‘The Metaverse Is Not New’

The company behind the Bored Apes Yacht Club has a new CEO from Web2, and he knows that you can’t build Web3 with a Web2 mindset.Source

Global Crypto Regulation Needs Coordination, Not Duplication, Legal Experts Say

“It’s not good to put crypto all in the same basket and look at it in a vacuum,” said Marianne Bechara, senior counsel at the IMF.Source

Signature Bank Failed Because of Mismanagement, Contagion, FDIC Report Says

The federal banking regulator said Signature’s exposure to crypto industry deposits was also a contributing factor to its failure.Source

Balaji Srinivasan Explains $1M Bitcoin Bet Rationale, Says Could Take Longer Than 90 Days

“I may be wrong but I’m burning a million to tell you they’re printing trillions,” Srinivasan said, during CoinDesk’s Consensus 2023 conference.Source

‘Operation Choke Point 2.0’ Is SEC’s ‘Chemotherapy’ for $14B Ponzi Problem, BCB’s CEO Says

What happened to Custodia Bank is “tragic” under current administration’s efforts to de-bank crypto industry, BCB’s Oliver von Landsberg-Sadie said.Source