Kiffmeister’s #Fintech Daily Digest (05/21/2021)*

US Treasury proposes crypto transactions over $10K be reported to IRS

The US Department of the Treasury is calling for exchanges and custodians to report crypto transactions greater than $10,000 to the Internal Revenue Service, starting in 2023.

US Fed Will Publish a Report On Central Bank Digital Currency In Summer

The US Federal Reserve plans to publish this summer a discussion paper that will explore the implications of fast-evolving technology for digital payments, with a particular focus on the possibility of issuing a central bank digital currency (CBDC). The paper will complement Federal Reserve System research that is already underway. 

DEX volumes are exploding this month

May is turning out to be another big month for decentralized exchanges (DEX) with $85 billion of volume halfway through the month, and on pace to reach $140 billion for the full month. That’s more than 2x more than the previous record set in April.

*For those interested in intra-day updates and news that didn’t make the Daily Digest cut, please check out my Diigo fintech bookmarks: