Key Takeaways: Missouri is set to become the first U.S. state to completely exempt capital gains from income tax, pending the governor’s signature. The measure applies to profits from assets such as stocks, real estate, and cryptocurrency, retroactive to 2025. The bill includes expanded exemptions for seniors, disabled residents, and select consumer goods to gain broader support. Missouri is on track to become the first U.S. state to fully exempt capital gains from income taxation, following the state legislature’s final approval of a bill on May 7. According to a May 8 report published by Fortune, the legislation, which is now awaiting the governor’s signature, would end capital gains taxes for people this year and could extend to corporations if revenue targets are met. Missouri Bill Targets Taxes Across Asset Classes The measure would cover profits from the sale of stocks, real estate, cryptocurrencies, and other assets. It arrives amid broader debates about state-level tax policy, with other Republican-led states opting for more traditional income tax cuts. Supporters of the Missouri bill argue that repealing the tax will remove barriers to investment and encourage economic activity. “When you tax something, you get less of it,” said Jonathan Williams, chief economist at the American Legislative Exchange Council. “The idea is, of course, you want more investment in your state.” Democrats criticized the bill for disproportionately benefiting high-income earners and diverting funds from public services. To pass the bill, Republican sponsors added provisions expanding exemptions for seniors, people with disabilities, and essential goods like diapers and feminine hygiene products. Slovenia’s Finance Ministry has introduced a draft law that would impose a 25% tax on profits from cryptocurrency trading for residents. #Slovenia #Tax https://t.co/pvzB7cS058 — Cryptonews.com (@cryptonews) April 18, 2025 Capital Gains Tax Becomes Battleground in State Policy Shifts According to the Missouri Budget Project, only about one-fifth of state taxpayers reported capital gains in 2022. The group estimates that 80% of the tax relief would benefit the top 5% of earners. State estimates place the potential annual cost of the exemption at $262 million, though outside analysis suggests it could approach $600 million. While backers anticipate offsetting growth, researchers such as Princeton’s Owen Zidar say there is little evidence that tax repeals spur enough activity to cover lost revenue. Governor Mike Kehoe has expressed support for the measure and is expected to sign it. If enacted, the policy would take effect retroactively for the 2025 tax year. Capital gains tax policy has become a growing point of divergence between states, with blue and red legislatures taking sharply different approaches. While Missouri is moving toward full exemption, states like Maryland, Minnesota, and Washington are expanding surtaxes on high-value asset sales. These opposing trends reflect broader political disagreements over how investment income should be taxed and who should benefit from tax policy. At the federal level, debates around capital gains are expected to intensify ahead of the expiration of the 2017 Tax Cuts and Jobs Act provisions. If Missouri’s approach gains traction, other states may adopt similar strategies, especially as they compete for mobile wealth tied to stocks, property, and crypto holdings. Frequently Asked Questions What percentage of capital gains tax revenue typically funds state budgets? Capital gains taxes often represent a small but volatile portion of state income tax revenues. In some states, they make up under 5%, but that figure can spike during market booms, making it a less stable revenue source. How do capital gains exemptions affect interstate wealth migration? Wealthy people may relocate to states with favorable tax laws. While concrete data is limited, anecdotal evidence suggests that tax havens can attract both investors and wealth managers. Do other countries exempt capital gains from income taxes? Yes. Countries like Belgium, Singapore, and New Zealand have no capital gains tax on certain assets, though many impose alternative taxes or have narrower exemptions. The post Missouri Moves to Axe Capital Gains on Crypto & Stocks – Budget Battle Looms appeared first on Cryptonews .
Crypto prices show strong recovery after months of decline, supported by positive news. Significant gains observed in altcoins like ETH, leading other cryptocurrencies like AVAX and BONK. Continue Reading: Crypto Prices Soar: Discover What’s Next for AVAX, BONK, PEPE, XRP, and DOGE! The post Crypto Prices Soar: Discover What’s Next for AVAX, BONK, PEPE, XRP, and DOGE! appeared first on COINTURK NEWS .
Crypto researcher SMQKE has published direct code-based evidence demonstrating XRP’s technical integration with ISO 20022 standards and the SWIFT financial messaging network. The post is backed by two images showing code references from RippleNet and the R3 Corda platform, emphasizing XRP’s interoperability with global financial infrastructure. For those who would like to see lines of code linking XRP to ISO 20022 and SWIFT, here’s direct proof: • The first image shows RippleNet’s Payment schema directly referencing the ISO 20022ExternalClearingSystemIdentificationCode List. This confirms that XRP’s… pic.twitter.com/bvMQbZkTIr — SMQKE (@SMQKEDQG) May 6, 2025 The first image reveals a JSON schema used in RippleNet’s payment processing system. Specifically, it identifies the “RippleNet Payment Object – Supporting Information Schema, Version 1.1.5,” and includes a definition referencing ISO 20022 standards. The definition section, “externalclearringsystem,” includes a description: “List based on ISO20022 ExternalClearingSystemIdentificationCode List.” This schema structure directly integrates identifiers from the ISO 20022 standard, which governs global financial messaging formats. According to SMQKE, this explicit reference confirms that XRP’s infrastructure has been designed with ISO 20022 messaging compliance in mind. This standard is central to financial communication across institutions, including SWIFT, the global network used by over 11,000 banks and financial entities. R3 Corda Codebase Shows XRP and SWIFT Modules Together The second image shared by SMQKE is a screenshot of Java import statements from R3 Corda’s codebase. These imports bring in classes such as XrpPayment, XrpSettlement, and XrpOracleService, alongside SWIFTService, SWIFTPayment, and SWIFTPaymentStatusType. The co-presence of XRP-related and SWIFT-related service modules in the same Corda package architecture points to integrated support within the same framework. This shows that XRP transactions and SWIFT-based settlements can be programmed and executed in the same system environment. R3 Corda is a distributed ledger platform used by financial institutions worldwide for enterprise-grade blockchain deployments. Its inclusion of XRP-specific services in conjunction with SWIFT modules suggests XRP is not only compatible with ISO 20022 but is also positioned within enterprise software platforms that are already SWIFT-capable. We are on twitter, follow us to connect with us :- @TimesTabloid1 — TimesTabloid (@TimesTabloid1) July 15, 2023 Compliance is Required for SWIFT Interoperability SMQKE explains the implications clearly: any token or company aiming to interact with the SWIFT network must be ISO 20022 compliant. Given that the code directly references ISO 20022 and SWIFT alongside XRP services, the standard appears to be met within both RippleNet and R3 Corda’s ecosystems. He concludes that because XRP is ISO 20022-compliant and SWIFT is built around the same standards, Ripple can technically interoperate and settle transactions with any institution using SWIFT. According to the tweet, this isn’t a theoretical capability but one already reflected in deployed code. Technical Evidence Validates XRP’s Global Integration Potential As SMQKE states, “It’s in the code.” This technical disclosure reinforces the claim that XRP is equipped for institutional and cross-border financial operations on the same footing as legacy financial systems. With visible adherence to ISO 20022 and active integration within platforms used by major banks, the evidence suggests XRP is structured for broad compatibility with the world’s most established financial networks. Disclaimer : This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses. Follow us on X , Facebook , Telegram , and Google News The post Researcher Shares Lines of Code Linking XRP to ISO 20022 and SWIFT appeared first on Times Tabloid .
The GENIUS Act failed a key Senate vote Thursday, leaving the future of the stablecoin bill and other crypto legislation in question.
Bitcoin rose above $101,000 even as Donald Trump pressured U.S. central bank Chair Jerome Powell anew to lower interest rates.
According to Politico, Donald Trump was set up by one of his own allies. In early March, he approved a Truth Social post about a new “Crypto Strategic Reserve,” thinking it would fulfill his crypto promises to voters. But the president apparently didn’t know he was helping Ripple Labs , a company linked to Brian Ballard, a longtime lobbyist who had deep ties to Trump’s political world. Within hours, Trump was furious. He realized he had just boosted a firm that was paying Ballard—without even knowing it. That weekend, Trump was at Mar-a-Lago for a donor event. Ballard’s employee—there for the weekend—tracked him down in person and kept pushing him to support crypto publicly. She even handed him a printed message, already written. Trump ignored her at first but gave in after repeated pressure. He passed the note to a staffer and told them to post it. It wasn’t until later that he learned Ripple, one of the companies named in the post, was a Ballard client. “He is not welcome in anything anymore,” Trump told people at the White House that month. Brian Ballard, photographed at his office in Washington, D.C. Source: M. Scott Mahaskey/Politico Trump cuts Ballard off from the White House After the XRP stunt, Trump completely froze Ballard out. He told his aides to stop taking meetings with Ballard, and Ballard’s name became toxic inside the West Wing. Though Ballard had built a reputation as one of the most powerful lobbyists in Washington, his access to the White House vanished overnight. Ballard had been known for his connections—he once worked with Susie Wiles, now Trump’s chief of staff, and had long-standing ties to Pam Bondi, the former attorney general. Ballard represented the Trump Organization for years. He was one of Trump’s biggest fundraisers and chaired Florida finance teams for every Republican nominee since 2008. After Trump took office in 2017, Ballard opened a D.C. office, quickly becoming one of the top earners on K Street. That reputation helped him sign 130 new clients since Trump won the 2024 election. Those clients included JP Morgan, T-Mobile, Palantir, and Netflix. In the first quarter of 2025 alone, Ballard’s firm earned $14 million, tripling what it made during the same period last year. But none of that mattered to Trump after the XRP trick. People in the administration said Ballard had been overstating how close he still was to Trump and Wiles. One Trump ally said, “One way to get yourself in the doghouse is for the president to think you’re trading on his name.” Another said Ballard “overstates his importance and value.” Even though Ballard denied using his relationships to win clients, the trust was broken. Ballard told Politico, “We are accustomed to false accusations from unnamed sources due to the success our firm has enjoyed.” He said he wasn’t frozen out and claimed to still have contact with Trump’s people. And it’s true—Ballard still got invites to Trump fundraisers and even had a call scheduled with a senior official after the XRP incident. His clients, like the NFL, still met with the president. Crypto czar David Sacks explodes over the Ripple-XRP post Inside the White House, the XRP post caused a meltdown. As soon as it went up, David Sacks, who leads Trump’s crypto policy, reportedly called Susie Wiles and demanded to know what happened. There was a crypto summit coming up, and the president had just praised a specific company, Ripple, without even mentioning his own crypto startup. Susie had not been with Trump that morning. She started making calls to figure out what led to the post. That’s when White House staff learned that the XRP token was tied to Ballard. The employee who pushed the message had asked Trump to post it more than once. Someone who witnessed the moment allegedly told Politico that Trump “had been brushing her off — then she kept bothering him and then he finally just gave it to a staffer to put out.” After the backlash, Trump made another post including other crypto names. But it was too late. He was pissed. His aides were pissed. One of them called Ballard directly and yelled at him. They believed Ballard had used his employee to get Trump to promote a client. KEY Difference Wire helps crypto brands break through and dominate headlines fast
Famous cryptocurrency analyst PlanC once again shared his views on the bull market after Bitcoin exceeded $ 100,000. PlanC said that the rise experienced in this cycle has a different structure than the 2017 bull market. Recalling that there were frequent sharp corrections and rapid recoveries in 2017, the analyst stated that the current cycle progresses with fewer and lower-rate corrections. “The shape of the negativity in this cycle is more about temporal corrections. So even if the price does not pull back, long periods of sideways movement create insecurity in investors and push them away from the market,” he said. Related News: SEC's Bitcoin Bull Member Hester Peirce Announces Positive New Development for Cryptocurrencies PlanC argued that during this process, investors may have false perceptions that the bull market is over, and that fear-based narratives come to the fore, especially during periods when the market is directionless and weak. However, the analyst claimed that these horizontal and downward corrections were actually healthy for the market, and stated that the rise continued with stronger foundations: “This cycle presents a healthier and more sustainable bull market, supported by real and meaningful adoption.” *This is not investment advice. Continue Reading: Renowned Analyst Shares His Theory on the New Bitcoin Bull: “This is What Will Happen, Get Ready”
The Decentralized AI Society and CETI AI are joining forces on an initiative that will see DAIS run a masternode of Hypercycle, the artificial intelligence infrastructure platform focused on developing nodes that power the internet of AI. In an announcement, DAIS stated the partnership will involve running Hypercycle’s newly launched Advanced Node Factory Enclosures. This development will allow DAIS to contribute to the buildout of key Internet of AI infrastructure, with the ANFE seeding an endowment for the Society. The partnership comes as Hypercycle joins DAIS as a member. The collaboration was unveiled at the Bermuda Digital Finance Forum , an event co-hosted by DAIS, digital asset advisory firm Penrose Partners, and the Bermuda government. “This arrangement with Hypercycle and CETI brings unique advantages to DAIS and its members,” said DAIS chairman Michael Casey. “Not only will the CETI-hosted ANFE secure a growing source of funding to help the Society expand its mission, but it will serve as a window into how the internet of AI is evolving as an economy, offering an important learning opportunity for our community.” You might also like: SWEAT wallet launches personalised AI agent and goes multichain CETI AI will host and run the yield-earning node factory, enabling DAIS to access Hypercycle’s decentralized network and its peer-to-peer exchange of intelligence, compute, and funding. These masternodes earn fees and create a continuous funding source for the Society. Hypercycle will support DAIS’s traction in the decentralized AI space, the platform’s chief executive officer Toufi Saliba. “Our model, by enabling and incentivizing value exchange across siloed AI systems, helps manifest that vision through an open, collaborative Internet of AI. We’re thrilled that DAIS and its members are directly engaging with us to help get there,” the Hypercycle chief executive noted. DAIS is taking advantage of a small window that runs out on May 14 to integrate into the Hypercycle network. This narrow window allows existing Hypercycle node factory operators on Ethereum ( ETH ) to opt in and leverage their assets in the parallel network of the Ethereum Virtual Machine-compatible Base blockchain. It allows operators to add a host of software enhancements with ANFE configuration, with complete interoperability and zero disruption. You might also like: Space and Time launches ZK mainnet to power smart contract data
Changpeng Zhao (CZ), the former CEO of Binance, has confirmed in an interview that he has formally applied for a presidential pardon from Donald Trump. However, he also clarified that he has no plans to return as a leader in the world’s largest crypto exchange. Former CEO Files For Clemency Zhao said on the Farokh Radio podcast that the application was submitted through his legal team two weeks ago. He explained that the decision to proceed came after news reports in March by Bloomberg and The Wall Street Journal alleged he was seeking a pardon in connection with crypto ventures linked to the Trump family. “We only submitted after the Bloomberg article and the Wall Street Journal article came out,” Zhao said, referring to his initial denial of the reports. “If they are writing this article, we might as well just officially apply,” he added. Back in March, Zhao publicly dismissed the report on X, saying the news outlet had reported incorrect information and that he had not held any discussions regarding a Binance U.S. deal. However, he acknowledged that he would not object to receiving amnesty: “No felon would mind a pardon, especially being the only one in U.S. history who was ever sentenced to prison for a single BSA charge.” In the recent interview, CZ further explained that part of the motivation came from President Trump’s previous decision to pardon the BitMEX founders, including Arthur Hayes, who pleaded guilty to violations of the Bank Secrecy Act (BSA). CZ Won’t Be Returning to Binance Although Zhao is seeking clemency, he revealed he has no plans to return to the company’s leadership. “I’m not really looking to become CEO of Binance again,” he said. Despite stepping down, he remains the largest shareholder of the crypto exchange. His legal troubles began in November 2023, when he pleaded guilty to a money laundering violation in a settlement with U.S. authorities. Binance agreed to pay a $4.3 billion penalty, with CZ contributing $50 million. The former executive was also ordered to resign as the company’s CEO. He was later sentenced to four months in prison and banned from holding any role at Binance. According to the U.S. Department of Justice (DOJ), while a presidential pardon would not erase his conviction, it could allow him to take on a managerial or operational position at the firm. Since completing his prison term, Zhao has taken up advisory positions abroad. In Pakistan, he supports the nation’s crypto council with policy and infrastructure planning. He also signed an MOU with the National Investment Agency in Kyrgyzstan to assist with Web3 initiatives and digital finance development. The post Binance Founder CZ Confirms Filing for President Trump’s Pardon appeared first on CryptoPotato .
Key Takeaways: Excess reserves above 100% indicate stronger exchange stability than competitors. USDT deposits grew 2.6% as investors shifted to stablecoins amid volatility. Government partnerships establish practical crypto use beyond speculation. On May 8, Binance released an update on its crypto reserves, revealing strong backing for major digital assets. The exchange holds 102% of the Bitcoin (BTC) required to cover user deposits and a 206% surplus for Binance USD (BUSD). Reserve Surpluses Create Withdrawal Safety Nets The report details reserves for 37 assets, including 616,886 BTC, which exceeds the 604,886 Bitcoins held by users. Other tokens like ETH, USDT, and SOL maintain their reserves above the 1:1 target. Crypto reserve surpluses also ensure the platform can honor withdrawal requests without drawing on corporate funds. The disclosure follows Binance’s 30th monthly Proof-of-Reserves (PoR) report, captured on May 1, which broke down the changing customer balances. Binance released the 30th proof of reserves (snapshot date May 1). The user's BTC assets were 604,411, down 1.35% from the previous month; the user's ETH assets were 5.281 million, down 3.36%; the user's USDT assets were 29.05 billion, up 2.61%. https://t.co/jGCPnwcv0j pic.twitter.com/N86MngnMwQ — Wu Blockchain (@WuBlockchain) May 7, 2025 CoinMarketCap pegs aggregate user funds on Binance at close to $140 billion. The exchange backs its numbers with zero-knowledge proofs and Merkle tree verification. This method lets users verify their balances without exposing the data of others—corporate wallets are not included in the calculation to prevent double-counting. PoR statements have also become the sector’s preferred transparency tool after FTX collapsed in 2022. At press time, Binance users held Bitcoin valued at $58 billion, down 1.35% from April, while 5.28 million ETH slid 3.36% to roughly $9.5 billion. Additionally, BNB balances dipped 0.74% to 39.24 million, about $23 billion. At the same time, USDT deposits rose 2.61% to 29.05 billion, indicating a shift toward dollar-pegged tokens amid market turbulence. Non-Bitcoin assets altogether stood at nearly $82 billion. Binance has issued an attestation every month since, contending that public on-chain evidence fosters confidence more effectively than private audits. Regulators still debate formal reserve mandates, yet Binance now supplies one of the longest uninterrupted data sets in the industry. How Binance is Shaping Central Asia’s Blockchain Future After proving its financial stability through reserves, Binance expands its influence beyond day-to-day trading. The company is seeking to shape blockchain infrastructure in emerging markets, starting with a collaboration in Central Asia. The global exchange teamed up with Kyrgyzstan to build a nationwide crypto payment network and roll out blockchain education programs. Both parties signed a Memorandum of Understanding (MoU) on April 3. Binance Academy will work with local universities and training centers to deliver hands-on blockchain and digital assets courses for the government, institutions, and the general public. By training Kyrgyz professionals in Web3 technologies, Binance seeks to develop homegrown talent for creating a digital-first economy. During two eventful days on the shores of the azure lake Issyk-Kul, we had the opportunity to discuss the prospects for the development of digital assets in our country with one of the most influential figures in the crypto industry — the founder of the world’s largest… pic.twitter.com/eb1Nx96Pdb — Sadyr Zhaparov (@sadyrzhaparovkg) May 4, 2025 Binance will also deploy its pay-and-receive infrastructure , allowing merchants and users nationwide to transact with crypto. The former Binance CEO was also tapped for an advisory role on Kyrgyzstan’s National Crypto Council, emphasizing Binance’s commitment to advising governments on regulatory frameworks. Is Binance Pay the Future of Crypto-Powered Tourism? Trust in Binance has played a key role in its acceptance by governing bodies worldwide , paving the way for major innovations in the financial sector. The platform’s Binance Pay service continues to transform global commerce. The most recent implementation comes from the Kingdom of Bhutan. Over 130,000 tourists are expected to visit Bhutan in 2025. Bhutan is a magical place! Up in the mountains. Has a mystical aura (仙气). Now using magic internet money. https://t.co/ZkkggXgrZ5 — CZ BNB (@cz_binance) May 7, 2025 Following the partnership, Bhutan will become the first country to adopt crypto payments nationwide for the tourism sector . Visitors to Bhutan can now use their crypto balances for everything from airline tickets and hotel stays to local purchases. Merchants gain instant settlement of crypto transactions in the local currency. Before this, Binance Pay announced a partnership with xMoney, a leading European web3 payment solutions provider, to expand crypto payments across Europe in its quest to be a leading cross-border financial provider. Frequently Asked Questions (FAQs) Does Binance’s PoR system account for off-chain liabilities that could affect solvency? Binance’s PoR currently only verifies on-chain assets. It doesn’t audit off-chain liabilities like loans or derivatives exposures that could impact overall solvency—a key transparency gap. How would Binance handle a bank-run scenario where withdrawals exceed liquid reserves? In 2022, the exchange faced mass withdrawals. Users moved out over $1 billion in the aftermath of the FTX collapse. Despite the pressure, Binance held firm, and the exchange has published its reserves every month since then. But no fortress is unbreakable. When market confidence shatters, even the strongest might struggle. Why doesn’t Binance use third-party auditors instead of self-reported Merkle proofs? Binance uses Merkle proof systems to provide faster, user-verifiable snapshots of on-chain reserves. However, this approach lacks independent third-party audits to verify asset ownership and off-chain liabilities, leaving a substantial transparency gap in assessing overall solvency. The post Binance Boasts Surplus Reserves, Bolstering Confidence After FTX Fallout appeared first on Cryptonews .