● IRS official: Crypto tax guidelines may be issued "within 12 months"
Julie Foerster, the head of cryptocurrency taxation at the Internal Revenue Service (IRS), said the IRS hopes to issue crypto tax guidance "within 12 months." She also said the IRS is planning to change its view on cryptocurrencies and hopes to work more with the industry. (CoinDesk)
● The U.S. House of Representatives will pass encryption bill within two months
Patrick McHenry, chairman of the U.S. House Financial Services Committee, said the House Financial Services Committee and the House Agriculture Committee will develop legislation to regulate the crypto industry "within the next two months" after holding a joint public hearing in May. (CoinDesk)
● US FDIC plans to take over First Republic Bank
The Federal Deposit Insurance Corporation (FDIC) is preparing to place First Republic Bank into receivership. The source said the U.S. banking regulator has decided that the troubled regional bank's condition has deteriorated and there is no more time to seek a private sector rescue. [Reuters]
● US SEC Chairman: Crypto trading platforms must register with the SEC
Gary Gensler, chairman of the U.S. Securities and Exchange Commission (SEC), tweeted that “cryptocurrency trading platforms must comply with regulations, register with the SEC, and address conflicts of interest.”
● The US core PCE price index rose 4.6% year-on-year in March
The U.S. core PCE price index rose 4.6% year-on-year in March, which was expected to be 4.5% and the previous value was 4.6%. The U.S. core PCE price index rose 0.3% month-on-month in March, which was expected to be 0.3% and the previous value was 0.3%. (Jinshi)
● Binance plans to open a branch in Kazakhstan by the middle of this year
Binance plans to open a branch in Kazakhstan in mid-2023. Regional director Vladimir Smerkis said that Binance will be able to provide exchange and conversion services, deposits and withdrawals of fiat currencies, storage of cryptocurrency assets and exchange trading. (Forklog)
● Binance announces launch of crypto gaming partner program
Binance announced the launch of the Binance Crypto Gaming Partner program, which will help developers distribute rewards to gamers through Binance gift cards.
● Google Cloud and Polygon Labs form strategic alliance to accelerate growth across the Polygon Protocol
Google Cloud and Polygon Labs announced a multi-year strategic alliance to accelerate the adoption of core Polygon protocols, including Polygon PoS, Polygon Supernets and Polygon zkEVM, as well as Google Cloud infrastructure and developer tools. (Planet Daily)