Early elections in Germany will be held on 23 February 2025, according to an agreement reached between parliamentarians from the Social Democratic Party (SPD) and the main opposition party, the Christian Democratic Union (CDU).

The lower house representatives reached this decision even with the support of the Liberals of the FDP recently expelled from the coalition and the Greens, who together with the Social Democrats form a minority government.

The announcement was made on Tuesday, November 12, after the meetings in the Bundestag, although the date has yet to be confirmed by the president of the nation, Frank-Walter Steinmeier.

The official must dissolve Parliament after the current chancellor, Olaf Scholz, “submits to a vote of confidence foreseeably on December 16, which he will lose due to being in the minority,” according to some local media.

Scholz wanted to submit to the vote of confidence on January 15, and had proposed that the elections be held at the end of March 2025, although he gave in to the advance of the date.

“Once the date of the vote of confidence is called, the deputies will in principle have 48 hours to vote. Steinmeier will then have a maximum of 21 days to dissolve parliament, a step which, once done, will trigger a 60-day period for holding elections.”

The parliamentarians voted in favor of the elections on 23 February after the coalition between the Social Democrats, Greens and Liberals broke up.

M.Pino

Source: swissinfo

(Reference image source: Tim Simon in Unsplash)
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Representatives of the government and the opposition of the United States presented before the lower house of the Congress of the Republic the draft Law on Tax Equity for Virtual Currencies, in which the exemption of tax obligations for Bitcoin transactions is proposed if the profits capital are associated with less than $200.

The purpose of the bill is to refine “the Internal Revenue Code of 1986 to eliminate these requirements when the observed capital gain does not exceed $200.” In other words, it is aimed particularly at minor transactions as a way to stimulate the use of the main cryptocurrency as a form of payment in the country.

Current law establishes that using Bitcoin as a form of payment implies a sale to the United States Internal Revenue Service (IRS). Therefore, any income obtained from the trading of cryptocurrencies must be declared “as taxable income, regardless of size,” or the purpose of the transaction.

Encouraging the use of Bitcoin

With the presentation of this new bill, it is intended to encourage the use of the main cryptocurrency as a means of exchange in the US economy. Suzan DelBene, co-author of the bill, considers that virtual currencies have undergone a great evolution in recent years and are increasingly used by people in their daily lives.

According to DelBene, “the antiquated regulations around virtual currencies do not take into account their potential use in our daily lives, (…).This bill with common sense reduces bureaucracy and opens the door to more innovations, growing ultimately our digital economy.”

David Schweikert, editor of the project, and representatives Darren Soto and Tom Emmer agree that the Virtual Currency Fiscal Equity Act is intended to “encourage the use of the main cryptocurrency as a means of exchange in the US economy.”

M. Rodríguez

Source: crypto274.com

La entrada US Congress to analyse tax exoneration of Bitcoin transactions apareció primero en Bitfinance.