Syndicate Labs has announced plans to shut down its operations after saying 
the market for Ethereum rollups has deteriorated to a point where the business 
is no longer viable. In a statement posted on X on Thursday, Syndicate Labs 
said…

Syndicate Labs has announced plans to shut down its operations after saying the market for Ethereum rollups has deteriorated to a point where the business is no longer viable. In a statement posted on X on Thursday, Syndicate Labs said…

Syndicate Labs exits as smaller Ethereum layer 2s lose traction

Kraken sent 56 million tax forms to the Internal Revenue Service last year. 
Nearly a third covered transactions worth less than a dollar. More than 75% 
were for trades under $50. Those numbers, cited by the crypto exchange last 
month, have added weight to a growing call in Congress to rethink how small 
digital asset transactions are taxed in the United States. Related Reading: 
Crypto Access To Banks In Focus After Trump’s New Executive Order A Study, Not 
An Exemption A bipartisan group of House lawmakers introduced a bill Tuesday 
that takes a first formal step toward addressing that burden. Called the 
Digital Asset Protection, Accountability, Regulation, Innovation, Taxation and 
Yields Act — or PARITY Act — the legislation does not create a tax break for 
small crypto transactions. What it does is direct the Treasury Department to 
examine whether one should exist, and to report back within 180 days on what 
relief it can offer under its current authority. Innovation should create 
opportunity for everyone, not just those already ahead. The Digital Asset 
PARITY Act modernizes the tax code for the digital age, creates clearer rules, 
and ensures emerging financial tools help expand financial inclusion and 
pathways to wealth. It is… pic.twitter.com/44B8mpEQLl — Rep. Steven Horsford 
(@RepHorsford) May 19, 2026 The bill also calls for a study on how much 
paperwork small crypto transactions generate for taxpayers, and on the total 
number of transactions under $200 that get reported to the IRS each year. The 
Treasury would also be asked to outline what resources the IRS would need if a 
de minimis exemption were eventually passed into law — and what kinds of fraud 
or abuse such an exemption might invite. Republican Representative Max Miller, 
one of the bill&#8217;s sponsors, said the US tax code has not kept pace with how 
fast digital assets have grown. &#8220;As America continues to lead the world in 
innovation, our tax code has failed to keep pace with the rapid growth of 
digital assets and modern financial technology,&#8221; Miller said in a statement. 
What Else The Bill Covers The PARITY Act carries over a section from an 
earlier draft that would treat regulated payment stablecoins like cash for tax 
purposes. Under that provision, no gains or losses would be recognized on 
stablecoin transactions unless the cost basis of those tokens falls below 99% 
of their redemption value. The bill also seeks to apply wash sale rules to 
crypto — a change that would close a loophole that stock investors are not 
allowed to use but crypto traders currently are. Related Reading: Zcash Soars 
88% In 30 Days: Is ZEC The Stealth Winner Of This Crypto Cycle? Democratic 
Representatives Steven Horsford and Suzan DelBene joined Miller and Republican 
Rep. Mike Carey in introducing the bill. Horsford had previously released a 
discussion draft of the legislation back in March. A Race Against The Clock 
Miller told Bloomberg Tax he believes the bill can pass before this Congress 
wraps up. That deadline falls in January, after the November midterm elections 
in which every House seat will be contested. Featured image from Getty Images, 
chart from TradingView

Kraken sent 56 million tax forms to the Internal Revenue Service last year. Nearly a third covered transactions worth less than a dollar. More than 75% were for trades under $50. Those numbers, cited by the crypto exchange last month, have added weight to a growing call in Congress to rethink how small digital asset &#8230;

Washington Takes Fresh Aim At Crypto Taxes With New IRS Review Bill

A major bet on XRP&#8217;s price stability suggests market maturity and potential 
equilibrium, challenging the crypto market&#8217;s volatility norms.
The post Crypto whale bets $224,000 on XRP price stability through June 
appeared first on Crypto Briefing.

A major bet on XRP&#8217;s price stability suggests market maturity and potential equilibrium, challenging the crypto market&#8217;s volatility norms. The post Crypto whale bets $224,000 on XRP price stability through June appeared first on Crypto Briefing.

Crypto whale bets $224,000 on XRP price stability through June

The EU&#8217;s downgraded growth forecast highlights vulnerabilities to energy 
shocks, potentially spurring shifts in fiscal policy and crypto markets.
The post European Commission cuts EU growth forecast to 1.1% amid Middle East 
conflict appeared first on Crypto Briefing.

The EU&#8217;s downgraded growth forecast highlights vulnerabilities to energy shocks, potentially spurring shifts in fiscal policy and crypto markets. The post European Commission cuts EU growth forecast to 1.1% amid Middle East conflict appeared first on Crypto Briefing.

European Commission cuts EU growth forecast to 1.1% amid Middle East conflict

Arm&#8217;s growing role in AI infrastructure could significantly boost its market 
share and revenue, but valuation and dependency risks remain.
The post Jefferies bullish on Arm, sees $290 price target amid strong Vera 
demand appeared first on Crypto Briefing.

Arm&#8217;s growing role in AI infrastructure could significantly boost its market share and revenue, but valuation and dependency risks remain. The post Jefferies bullish on Arm, sees $290 price target amid strong Vera demand appeared first on Crypto Briefing.

Jefferies bullish on Arm, sees $290 price target amid strong Vera demand

Eurozone&#8217;s economic slowdown could strengthen the US dollar, impacting global 
markets and increasing volatility in crypto investments.
The post Eurozone business activity hits 31-month low amid recession fears 
appeared first on Crypto Briefing.

Eurozone&#8217;s economic slowdown could strengthen the US dollar, impacting global markets and increasing volatility in crypto investments. The post Eurozone business activity hits 31-month low amid recession fears appeared first on Crypto Briefing.

Syndicate Labs exits as smaller Ethereum layer 2s lose traction

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