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View More NewsSouth Africa’s tax authority has proposed new guidance that clarifies how crypto assets are taxed under existing income and capital gains tax frameworks.The South African Revenue Service (SARS) on Wednesday published draft guidelines on crypto asset taxation, applying South Africa’s existing tax framework, primarily the Income Tax Act, 1962, alongside capital gains tax rules.The draft provides that most crypto activities, including trading, swapping and spending, are generally treated as disposals that may trigger tax events. It still emphasizes that the rules depend heavily on each taxpayer’s specific circumstances.If adopted, the proposed guidelines are set to impact millions of local users,…
The European Securities and Markets Authority (ESMA) said some prediction-market contracts may be covered by the European Union’s binary options ban, warning firms that yes-or-no event contracts cannot be marketed, distributed or sold to retail clients when they qualify as financial instruments.“This means that the marketing, distribution or sale to retail clients of event contracts that meet the definition of financial instruments is prohibited,” ESMA said in a statement.The regulator targeted contracts whose payout is binary, usually a fixed amount or nothing, and depends on the outcome of a future event.ESMA said the product label is irrelevant, as a contract…
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Recorded on 30 June 2026, Claire Lehmann sat down with Derek Francis— former chief economist at the NSW Parliamentary Budget Office and a fund manager—to discuss a flaw in Treasury’s modelling of Australia’s new capital gains tax, one that could push effective tax rates on shares as high as 70 percent. TranscriptClaire Lehmann: Last month, Treasurer Jim Chalmers delivered one of Australia’s most ambitious and controversial budgets to date. It was framed as an attempt to restore intergenerational equity, in light of the fact that house prices have become completely unaffordable for young people across the country. To address this, negative…
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In brief Sen. Kirsten Gillibrand is renewing calls to ban politicians and their spouses from issuing or promoting crypto assets, including meme coins. President…
In a special America 250 issue, Reason takes a look back at our country’s founding people and ideas. Read more here. Joanna Andreasson There…
Bitcoin (BTC) has added another bear-market bottom signal this month as analysis draws comparisons to November 2022.Key points:Bitcoin adds to its list of bear-market…
In brief BridgeBench’s debugging score for Claude Fable 5 dropped from 86.2 to 25.9 after its July 1 reinstatement—but the collapse came from the…
In brief Claude Fable 5 burns through subscription limits roughly twice as fast as Opus 4.8—one test drained a $100 Max plan in under…
In a voice vote earlier this week, the House of Representatives passed H.R. 6028, the “Legislative Branch Agencies Clarification Act.” The legislation is presented…
from the that’s-not-how-any-of-this-works dept California lawmakers are again considering A.B. 412, a bill that would require AI developers to identify and disclose copyrighted works used to train…
Gordon Wood was a towering scholar in every way. He was the best historian of the American Revolution and of the writing of the…
Mastercard (MA) is betting that AI agents will soon become active participants in the economy and wants its payments network to sit at the…
Robinhood Securities said it had secured approval to act as an IPO underwriter, moving from a distribution role into the main underwriting group alongside…
In brief Google released DiffusionGemma, a free open-weight model that generates entire 256-token blocks simultaneously via text diffusion—hitting over 1,000 tokens per second on…
NCC The National Constitution Center’s annual Supreme Court Review event is being held on July 7 in Philadelphia. I wanted to highlight it here,…