US lawmakers grapple with crypto tax policy amid government shutdown
US lawmakers grapple with crypto tax policy amid government shutdown
Senate lawmakers debated whether cryptocurrencies should have special tax exemptions to encourage everyday use and the industry's growth.
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SWIFT Is Planning To Launch Its Own Blockchain Amid Trillion-Dollar Battle, But It’s Not With Ripple
SWIFT, the global network that handles most of the world’s cross-border payments, is preparing to launch its own blockchain as rumors about an ongoing payments battle with Ripple circulate. While many often compare SWIFT’s role to Ripple due to its XRP-linked payment solutions, this new plan is not a direct challenge to the fintech company, but rather part of a much larger trillion-dollar race to define the future of digital money. SWIFT Partners With Consensys To Build Blockchain Network According to the announcement, SWIFT is collaborating with Consensys, the Ethereum development company founded by Joe Lubin, to create a shared digital ledger that supports faster, cheaper, and more efficient international transactions. Related Reading: Early Bitcoin Investor Reveals Biggest Regret After Years In The Market SWIFT is still keeping its blockchain ledger in the prototype stage, but leading banks are already testing it. JP Morgan in the United States and Deutsche Bank in Europe are among the major institutions participating in these early trials. SWIFT and its partners design the new infrastructure to support regulated stablecoins as well as tokenized assets. The shared ledger links directly to private blockchains that organizations use internally and to public blockchains open to the general public. By connecting the two, banks and financial companies in different regions will be able to join the platform without having to abandon the systems they already use. Ripple, long known for linking its XRP token with cross-border solutions, has been in this space for years. However, the announcement notes that SWIFT’s strategy differs. Instead of relying on a single cryptocurrency, it is creating a network that works directly with banks and established institutions. Trillion-Dollar Stablecoin Threat Pushes SWIFT Into Blockchain Race SWIFT’s move to launch its own blockchain could be part of a much bigger trillion-dollar battle in the payments world. Stablecoins, which are digital assets tied to fiat currencies, are now used in transactions worth trillions of dollars. The rise of stablecoins could challenge SWIFT’s long-established role in global payments. If banks begin to settle transactions directly with stablecoins, they may no longer depend on the global messaging network for cross-border transfers. Related Reading: XRP Price May Not See An Explosive Rally In October As Expected, Here’s Why The rapid growth of stablecoins could prompt banks to bypass SWIFT altogether, and if banks opt to use new digital payment systems instead, SWIFT’s role could shrink significantly. The global messaging network for financial institutions is now building the blockchain ledger within its framework to reduce this risk and prevent banks from migrating to rival providers. The move does not mean SWIFT is going head-to-head with Ripple alone. As stablecoins and tokenized money gain wider adoption, SWIFT is developing its own blockchain ledger to maintain its central position in the international payments market. The global financial messaging giant may be working to strengthen its leading position and prepare for the trillion-dollar race that could shape the international money transfer market. Featured image created with Dall.E, chart from Tradingview.com
Bitcoin Beyond Money: It Is A Remarkable Achievement In Cryptography – Here’s Why
Bitcoin, which began as a mere digital asset, has turned into a viable currency used by many investors for their day-to-day activities in the dynamic financial sector. As the crypto market evolves, BTC is changing the narrative of how businesses and investors view cryptocurrencies as these companies continue to hoard the flagship asset. A Unique […]
Bitcoin Shoots up as US Government Shuts Down, and Private Sector Employment Falls
The U.S. Federal government officially shut down at midnight Wednesday after Congress failed to pass a temporary spending bill. Government Shutdown and Surprise Private Sector Jobs Data, Send Investors Fleeing to Bitcoin The U.S. Federal government machinery came to a grinding halt at midnight on Wednesday after Senate Republicans and Democrats failed to pass a […]
Bitcoin Price Hits Historic Quarterly Close — Is $150,000 Next?
Bitcoin Magazine Bitcoin Price Hits Historic Quarterly Close — Is $150,000 Next? Bitcoin closed the third quarter of 2025 at an all-time high, what's next? This post Bitcoin Price Hits Historic Quarterly Close — Is $150,000 Next? first appeared on Bitcoin Magazine and is written by Micah Zimmerman.