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Biden’s Proposed Crypto Mining Tax Blocked in Debt Ceiling Agreement

The Biden administration justified the proposed 30% tax on crypto mining companies earlier. The document is still subject to rigorous investigation and discussions in Congress. It became clear on Sunday that the Digital Asset Mining Energy (DAME) excise tax proposed by the Biden administration was blocked as part of the agreement between President Joe Biden … Read more

Asia FX muted, dollar steady as Fed fears stifle debt deal cheer — Most Asian currencies kept to a tight range on Monday, while the dollar steadied at a two-month high as signs of sticky inflation and rising U.S. interest rates largely offset optimism over a U.S. debt ceiling deal. China’s yuan fell 0.1%, taking little support from a stronger daily midpoint fix as markets continued … Read more

Asia FX recoups some weekly losses, dollar steady amid debt ceiling impasse– Most Asian currencies rose on Friday, recovering from steep losses this week, while the dollar steadied below two-month highs as markets awaited more cues on progress towards raising the debt ceiling. The Japanese yen rose 0.2%, but was among the worst-performing Asian currencies this week, down nearly 2% as expectations of a wider gulf … Read more

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