report: report: Movement Labs close to finalizing $100 million Series B funding round
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Movement Labs is close to finalizing a $100 million Series B funding round, according to Fortune, citing sources close to the deal.The round is reportedly co-led by CoinFund and Nova Fund — part of Brevan Howard’s digital assets arm.
[U.S. House Bipartisan Lawmakers Propose Legislation to Establish Tax Safe Harbor for Stablecoins and Staking Rewards]
Bipartisan lawmakers in the U.S. House of Representatives are drafting a cryptocurrency tax framework aimed at providing safe harbor for certain stablecoin transactions and deferring taxation on blockchain validation rewards. Ohio Republican Representative Max Miller and Nevada Democratic Representative Steven Horsford are drafting the bill, which seeks to align cryptocurrency taxation methods with those of traditional securities.
The bill proposes exempting capital gains tax on regulated stablecoin transactions where the value remains between $0.99 and $1.01 over time. It also aims to establish safe harbor rules for staking and mining rewards earned through blockchain transaction validation. Additionally, the bill would integrate cryptocurrencies into the tax system that covers securities and certain commodity transactions. Capital gains tax exemptions currently enjoyed by foreign investors and securities lending investors conducting securities transactions through domestic third parties would also apply to digital assets.
[The People's Bank of China conducts a 7-day reverse repo operation of 67.3 billion yuan]
The People's Bank of China conducted a 7-day reverse repo operation of 67.3 billion yuan today, with a bidding amount of 67.3 billion yuan, a transaction amount of 67.3 billion yuan, and an operating interest rate of 1.40%, unchanged from the previous rate.
[Spot Platinum Surpasses $2,000 Mark for the First Time Since 2008]
Spot platinum continues to rise and has surpassed $2,000 per ounce for the first time since 2008, with a year-to-date increase of over 120%.
[The People's Bank of China Keeps One-Year and Five-Year LPR Rates Unchanged]
The People's Bank of China has kept the one-year and five-year Loan Prime Rates (LPR) unchanged at 3% and 3.5%, respectively, marking the seventh consecutive month of no change.