Tag Archives: Pat Toomey

Not long ago, we published an article about former Pennsylvania Senator Pat Toomey, a republican who chose not to run for another term despite serving in politics for over 20 years. Pat Toomey Shows Two Faces When Discussing Crypto Going that long, Toomey was clearly a popular figure, and in our piece, he discussed his many thoughts on crypto and how he was against regulation given everything comes with hiccups, and those hiccups shouldn’t be an excuse to bring whatever...

Former Senator Pat Toomey of Pennsylvania – who ended his congressional career in early January of this year when he chose not to run for another term – recently offered his thoughts on the crypto space and the fall of FTX. Pat Toomey on FTX and Crypto In the interview, Toomey said that if Congress had taken the time to implement appropriate crypto legislation and monitor the space, FTX likely never would have existed on the scale that it did. He said: It’s not clear...

A handful of lawmakers in the U.S. are pushing to do away with crypto taxes on small transactions. Will Crypto Taxes Become a Thing of the Past? Right now, capital gains taxes are required on all crypto transactions that garner profits for their owners. Let’s say you buy $100 worth of bitcoin. You hold onto it for some time and that $100 eventually becomes $1,000. You then sell the BTC. You’ve made $900 in profit through that transaction, and you’ll likely owe taxes to...