• Jan 02, 2025

Reserves at Fed Sink Below $3 Trillion to the Lowest Since 2020

(Bloomberg) -- The US banking system’s reserves, a key factor in the Federal Reserve’s decision to keep shrinking its balance sheet, tumbled below $3 trillion to the lowest since October 2020.Most Read from BloombergIs This Weird Dome the Future of Watching Sports?NYPD Seeking Gunmen After 10 People Wounded Outside Queens VenueDetroit’s Michigan Central Is the Building Revival Story of 2024Burned-Out Parents Need Better Public SpacesA Commuting Resolution for 2025: Ride Your Local Subway or BusB

  • Jan 02, 2025

IRS And Treasury Impose New Tax Rules For Crypto DeFi Platforms

The IRS and U.S. Treasury have finalized a controversial new rule requiring DeFi platforms to implement KYC procedures and report user transactions, treating them as traditional brokers. Effective by 2027, these regulations have sparked backlash for potentially overreaching legal authority, threatening privacy, and risking innovation in the decentralized finance space.

  • Jan 02, 2025

Biden to Ban More Offshore Oil Drilling Before Trump Arrives

(Bloomberg) -- President Joe Biden is preparing to issue a decree permanently banning new offshore oil and gas development in some US coastal waters, locking in difficult-to-revoke protections during his final weeks in the White House.Most Read from BloombergIs This Weird Dome the Future of Watching Sports?NYPD Seeking Gunmen After 10 People Wounded Outside Queens VenueDetroit’s Michigan Central Is the Building Revival Story of 2024Burned-Out Parents Need Better Public SpacesA Commuting Resoluti