Crypto-staking Jarretts again sue IRS over block reward taxes
A previous case brought by Josh and Jessica Jarrett was dismissed in 2022 after the IRS conceded to refund some of the tax paid.
A previous case brought by Josh and Jessica Jarrett was dismissed in 2022 after the IRS conceded to refund some of the tax paid.
Prosecutors said Bitfinex hacker Heather Morgan should receive a lenient jail sentence because she provided “substantial assistance” to the government.
The XRP token is already regulated as a commodity and the SEC “duplicates and compounds the regulatory burden” by saying it’s a security, Bitnomial said in a lawsuit.
The SEC’s Mark Uyeda says the regulator’s approach to crypto has been “the wrong one,” and it needs to provide clear guidelines before launching enforcement actions.
According to Odaily, Ripple Labs Inc. has submitted a notice of appeal to the United States Court of Appeals for the Second Circuit. This development follows ongoing legal proceedings involving the company.
According to Odaily, BlackRock strategists have indicated in a recent report that the likelihood of rapid interest rate cuts by the Federal Reserve is low due to stable economic growth prospects. They stated, 'We believe there is room for the Federal Reserve to lower rates to around 3.5% or slightly higher by early 2025.'BlackRock also noted that the minutes from the Federal Reserve's September meeting suggest a gradual approach to rate cuts. 'We anticipate a normalization of monetary policy rather than a shift to an accommodative stance,' they added.
According to Odaily, analyst Paul Ashworth stated in a report that considering today's CPI report, the core PCE inflation indicator for September might accelerate from 0.1% in August to 0.2%. However, the annualized rate is expected to be only slightly above the Federal Reserve's 2% target. The PCE data will be released at the end of the month. Additionally, tomorrow's PPI report will help adjust expectations.Ashworth mentioned that if his prediction is accurate, the pace of inflation decline would support a more cautious approach by the Federal Reserve in reducing interest rates by 25 basis points early next month.
According to BlockBeats, on October 10, Federal Reserve's Barkin stated that while inflation has significantly decreased, it is too early to declare victory. He emphasized that inflation is moving in the right direction.
According to Odaily, Whitney Watson, the Global Co-Head of Fixed Income and Liquidity Solutions and Co-Chief Information Officer at Goldman Sachs, stated that the September CPI report was stronger than expected, with core CPI showing an unexpected rise. However, Watson emphasized that labor market data remains the primary focus for the Federal Reserve. He believes that next month's employment data will be a more crucial factor in determining the pace and extent of the Federal Reserve's easing measures.
According to PANews, the United States' core Consumer Price Index (CPI) for September recorded an annual rate of 3.3%, marking the highest level since June. This figure exceeded market expectations, which had anticipated a 3.2% increase.