US Congressman Matt Gaetz has taken a significant step towards integrating cryptocurrency into the U.S. financial system by proposing legislation that would allow Bitcoin to be used for federal income tax payments. This initiative, aimed at amending the Internal Revenue Code of 1986, reflects a growing trend in government to embrace digital innovations that can enhance financial operations.

In his discussions with The Daily Wire, Gaetz highlighted the efficiency, flexibility, and innovation that Bitcoin payments could bring to tax processes. This move is seen as a forward-thinking attempt to keep the U.S. at the forefront of technological advancements in finance. The proposed bill mandates the Treasury Secretary to craft regulations for Bitcoin transactions, ensuring they are promptly converted to U.S. dollars, maintaining financial stability.

This development aligns with increasing support for Bitcoin among U.S. politicians, indicating a broader acceptance of cryptocurrency’s potential role in modernizing government transactions and policies.

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Company Name: THNDR Games

Founder: Desiree Dickerson, Jack Everitt, Greg Flor and Rafal Gawel

Date Founded: Originally founded in 2019 | Re-launched in 2021

Location of Headquarters: London, UK with remote team members

Amount of Bitcoin Held in Treasury: “Not enough” (said Dickerson jokingly)

Number of Employees: 6

Website: https://www.thndr.games/

Public or Private? Private

Desiree Dickerson believes that games are a powerful way to onboard people to Bitcoin.

She posits that, in recent history, games have been used to get people accustomed to using new technologies.

“They put games on the original PCs to get users familiar with a mouse,” Dickerson told Bitcoin Magazine.

“This is similar…

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Courtesy of Bitcoin magazine, Trump (left) with Bitcoin Magazine CEO David Bailey (right)

Ever since Donald Trump became more vocal in support of Bitcoin heading into this year’s Presidential campaign, I’ve been sitting with a wide range of emotions and concerns.

Outside of Bitcoin, as a left-leaning voter and vocal critic of Donald Trump, I have deep concerns with such an ego-centric, narcissistic character assuming power in the oval office again, not to mention the damage this could do to issues I deeply care about in the U.S. including a woman’s right to choose,…

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VanEck has taken a significant step toward launching its spot Ethereum ETF by filing the necessary Form 8-A, indicating imminent trading potential. Bloomberg’s Eric Balchunas highlighted that this filing mirrors the procedures followed just a week before VanEck’s Bitcoin ETF went live, suggesting a potential early July debut for the Ethereum product.

The progress in Ethereum ETF filings follows the SEC’s May approval of eight such products, sparking widespread anticipation within the cryptocurrency community. This development contrasts the drawn-out approvals and market uncertainties that plagued Bitcoin’s ETF launch, underscoring a possibly smoother path for Ethereum.

Analysts are cautiously optimistic, with Balchunas sticking to a July 2 projection for the Ethereum ETF’s launch despite the SEC’s lack of clear guidance. This move could mark a significant milestone in mainstream acceptance of cryptocurrencies.

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Nu Holdings, known as Nubank, Latin America’s largest fintech bank, has partnered with Lightspark to integrate the Bitcoin Lightning Network and UMA (Universal Money Addresses) into its platform. This collaboration aims to enhance Nubank’s services by enabling near real-time, low-cost Bitcoin and fiat transactions, according to a press release sent to Bitcoin Magazine.

I’m thrilled that @nubank has selected @Lightspark to bring the Bitcoin Lightning Network and UMA (Universal Money Addresses) via the @umastandard to its platform and customers. Now working with the Nubank team on the integration. Vamos! ⚡ pic.twitter.com/HYuuImG08u

— David Marcus (@davidmarcus)… Read more on BitcoinMagazine

Despite recent fears and uncertainty in the cryptocurrency market, key Bitcoin holders are demonstrating a notable vote of confidence. According to new data from IntoTheBlock, the largest Bitcoin wallets have seen a substantial influx of funds, reaching levels not observed since late May. This movement underscores a robust optimistic stance among major investors.

Yesterday marked a significant moment as holders controlling at least 0.1% of the total Bitcoin supply added a remarkable 7,130 BTC to their wallets. This addition represents approximately $436 million worth of Bitcoin, highlighting a sharp increase in acquisition by substantial stakeholders.

This trend of significant acquisitions by major wallets suggests a continued belief in Bitcoin’s long-term value and stability. Amid market volatility, this could indicate a bullish outlook for the cryptocurrency’s future, reassuring smaller investors about the health and resilience of the market.

IntoTheBlock