Ron Wyden
Senate Finance Committee Chair probes “lack of safeguards” in crypto tax incentives
Democratic Senator Ron Wyden is digging into the activities of crypto companies that take advantage of tax breaks provided by the Opportunity Zone program. Senator Wyden’s main concern stems from the perception that some crypto companies may be taking advantage of what he called “a lack of safeguards and transparency measures” in the Opportunity Zone program. The concerns were raised in letters he sent to two companies and one individual. He wants to understand how they are providing the required reciprocal support for low-income communities as stipulated by the rules of the program. The Oregon Senator wrote letters to crypto miners Argo Blockchain and Redivider Blockchain and to Opportunity Zone specialist accountant from accounting firm HCVT Blake Christian. The Opportunity Zone program ...
Gold rises on renewed US stimulus hope, dollar falls
Spot gold rose 0.3 percent to $1,910.56 an ounce at 3:37pm, New York time, after falling as much as 0.5 percent. Gold rose on renewed optimism for a preelection aid package in the U.S., while the dollar fell to a one-week low. House Speaker Nancy Pelosi said a bill for a compromise stimulus package is being written as she awaits a key phone call with Treasury Secretary Steven Mnuchin. Senate Majority Leader Mitch McConnell said his chamber would take up a comprehensive coronavirus package if an accord is struck. The Bloomberg Dollar Spot Index headed for the third straight decline. Pelosi said in a Bloomberg Television interview that while there are areas where more work is required to get a compromise, she was pleased with the Trump administration’s latest position on coronavirus testing ...
