George Soros to trade cryptocurrencies
87-year-old multi-billionaire George Soros is planning to trade cryptocurrencies. This is an interesting development from Soros since he has doubted cryptocurrencies from the beginning. Soros called cryptocurrencies a bubble in January of this year. However, his family office has just received internal approval to trade cryptocurrencies. Although there are no reported moves by his firm yet, they seem to be gearing up to invest in cryptocurrencies.
Soros does seem to believe there is money to be made from cryptocurrency. His investment firm invested in Overstock.com, the first major online retailer to accept cryptocurrencies as payment, in Q4 of last year. His investment firm is the companies third-largest shareholder.
Arizona Crypto Tax Payments Bill Update
Arizona is working on a bill that could allow its taxpayers to pay taxes with cryptocurrencies. Although the bill was pushed through the Senate, it appears to be stuck in the House of Representatives. According to CoinDesk, Arizona Representative Jeff Weninger said “We’re still working on moving it,” and continued to explain that the language is being altered to be less name specific. The word “Bitcoin” is being removed from the bill for that reason.
The word “Bitcoin” in the bill will likely be replaced by some variation of “accepted cryptocurrencies” that will be defined elsewhere. This seems to be a healthy change for the bill, it appears that Arizona plans to welcome a broader spectrum of cryptocurrencies for taxpayers to use.