In a recent letter addressed to Treasury Secretary Janet Yellen and IRS Commissioner Daniel Werfel, US Senators led by Elizabeth Warren have demanded prompt action on implementing new tax reporting requirements for digital asset brokers. The letter references the Infrastructure Investment and Jobs Act (IIJA), a bipartisan measure enacted nearly two years ago that mandated The post Elizabeth Warren pressures Treasury, IRS for swift action on $50B crypto tax loophole appeared first on CryptoSlate.

The Australian Securities and Investments Commission (ASIC) has filed a lawsuit against the online trading platform eToro for allegedly violating financial regulations related to cryptocurrency derivative products, leading to two-thirds of CFD traders reportedly losing funds. ASIC vs. eToro According to the concise statement filed by ASIC, eToro is accused of contravening the design and The post Australia ASIC sues eToro alleging lax oversight of crypto derivatives, causing consumer losses appeared first on CryptoSlate.

Sam Bankman-Fried (SBF) has firmly rejected allegations of witness tampering after sharing extracts from his ex-girlfriend Caroline Ellison’s private diary with a reporter from the New York Times. This denial comes as federal prosecutors seek to revoke his bail, claiming the diary leak and other communications indicate SBF has improperly attempted to influence Ellison, a The post Sam Bankman-Fried denies witness tampering allegations in letter to judge appeared first on CryptoSlate.

The highly anticipated Litecoin (LTC) halving will occur later today, Aug. 2, marking the third event in the cryptocurrency’s history. According to litecoinhalving.com, the Litecoin network will reach a block height 2,520,000 around 3:16 pm UTC, reducing the block reward from 12.5 LTC to 6.25 LTC. Miners’ subsidy for solving a block is cut in The post Countdown to Litecoin halving today, is ‘digital silver’ ready to break out? appeared first on CryptoSlate.

Nvidia researchers have developed a new AI image generation technique that could allow highly customized text-to-image models with a fraction of the storage requirements. According to a paper published on arXiv, the proposed method called “Perfusion” enables adding new visual concepts to an existing model using only 100KB of parameters per concept. As the paper’s The post Nvidia shrinks AI image generation method to size of a WhatsApp message appeared first on CryptoSlate.