Florida Governor Ron DeSantis Looks To Ban CBDCs – March 21

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Top-20 altcoins are looking strong, as Ether rises 4%, BNB gains 1% and XRP stands out with a strong 17% rally.

Top Stories for March 21, 2022 🔥

👉 Florida Governor Ron DeSantis Looks To Ban CBDCs

Florida Governor Ron DeSantis has announced plans to introduce legislation that would ban any central bank digital currency (CBDC) issued by the US for use in Florida.

The bill would prohibit the use of a federally adopted CBDC as money within Florida’s Uniform Commercial Code (UCC) and institute protections against a central global currency by prohibiting any CBDC by a foreign reserve or sanctioned central bank.

DeSantis cited privacy concerns, stating that a federally controlled CBDC would give government officials the ability to see all consumer activity and even cut off access to goods and services for consumers.

👉 Celsius Custody Settlement Approved, Will Return 72.5% Of Assets

A federal judge has approved a settlement in the bankruptcy case of crypto lender Celsius, allowing Celsius custody account holders to get back 72.5% of the cryptocurrency in their custody accounts.

The settlement was reached between Celsius debtors, the unsecured creditors committee and an ad hoc group of custodial account holders, and individual custody account holders must opt into the settlement.

The return will come over time and does not include transaction fees. The settlement does not release any rights or causes of action related to assets held in the Celsius Earn program.

👉 IRS Considers Taxing NFTs Like Other Collectibles

The US Internal Revenue Service (IRS) is considering whether to tax non-fungible tokens (NFTs) like other collectibles such as stamps and artwork.

The proposed guidance seeks feedback regarding the tax treatment of an NFT as a collectible under tax law, implying a less-favourable treatment under capital gains tax rules, and with implications if the assets are acquired by individual retirement accounts.

The IRS is looking for people to comment on the proposal by June 19.