Today in crypto, US Senator Cynthia Lummis is advocating for a bill to overhaul crypto taxation, proposing provisions such as a de minimis exemption for digital asset transactions and a $5,000 annual exemption cap. She emphasizes the importance of modernizing tax policies to support innovation in the digital economy. In another significant development, cybersecurity firm Koi Security reported that over 40 fake Firefox extensions are being used in a credential-theft campaign targeting cryptocurrency wallets. These malicious extensions pose as popular wallets to steal users' wallet credentials. Meanwhile, Ripple Labs is seeking a national bank charter from the US Office of the Comptroller of the Currency as part of its strategy to establish legitimacy in the financial market. Ripple's CEO has stated that this move would enhance trust in the stablecoin market by ensuring compliance with federal and state regulations.

Source 🔗