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Rishi Sunak has vowed to “take on” anyone who is “standing in our way” regarding the government’s plan to send asylum seekers to Rwanda.

The prime minister struck a combative tone following the Supreme Court’s ruling on Wednesday, which found the policy – a key tenet of Mr Sunak’s pledge to stop small boat crossings in the Channel – was unlawful.

The prime minister said his patience had “worn thin” and that “people just want the problem fixed”.

“People can see that I want to get this thing done, but in order to finish the job, we need to get Rwanda up and running,” he told reporters.

“We can pass these laws in parliament that will give us the powers and the tools we need.

“Then we can get the flights off and whether it’s the House of Lords or the Labour Party standing in our way I will take them on because I want to get this thing done and I want to stop the boats.”

Mr Sunak was speaking just a day after former home secretary Suella Braverman – who was sacked by the prime minister this week – called for changes to her own Illegal Migration Act to revive the Rwanda deportation scheme, admitting there is “no chance of stopping the boats within the current legal framework”.

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The Supreme Court ruled the scheme was unlawful on the grounds that those sent to the country would be at “real risk” of being returned home, whether their grounds to claim asylum were justified or not – something that would breach international human rights laws.

In the aftermath of the ruling Mr Sunak doubled down on his desire to see Rwanda work, telling MPs he was prepared to bring in “to change laws and revisit… international relationships” if they were “frustrating” his plans.

The government has said it would do this by turning its current deal with Rwanda into a fully fledged international treaty which Mr Sunak argues would “address the challenges” of the court ruling – including making it legally binding for the country not to return asylum seekers home.

The second part would see the government introduce emergency legislation in the Commons.

The prime minister said the ruling of the Supreme Court confirmed it was within the government’s power to send asylum seekers to a safe third country, and that his new law would “enable parliament to confirm that with our new treaty, Rwanda is safe”.

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US lawmakers propose tax break for small stablecoin payments, staking rewards

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US lawmakers propose tax break for small stablecoin payments, staking rewards

US lawmakers have introduced a discussion draft that would ease the tax burden on everyday crypto users by exempting small stablecoin transactions from capital gains taxes and offering a new deferral option for staking and mining rewards.

The proposal, introduced by Representatives Max Miller of Ohio and Steven Horsford of Nevada, seeks to amend the Internal Revenue Code to reflect the growing use of digital assets in payments. The draft is set “to eliminate low-value gain recognition arising from routine consumer payment use of regulated payment stablecoins,” per the draft.

Under the draft, users would not be required to recognize gains or losses on stablecoin transactions of up to $200, provided the asset is issued by a permitted issuer under the GENIUS Act, pegged to the US dollar and maintains a tight trading range around $1.

The bill includes safeguards to prevent abuse. The exemption would not apply if a stablecoin trades outside a narrow price band, and brokers or dealers would be excluded from the benefit. Treasury would also retain authority to issue anti-abuse rules and reporting requirements.

Draft bill explains the reasoning behind tax breaks. Source: House

Related: Crypto Biz: Bank stablecoins get a rulebook; Bitcoin gets a land grab

US bill defers taxes on crypto staking rewards

Beyond payments, the proposal addresses long-standing concerns around “phantom income” from staking and mining. Taxpayers would be allowed to elect to defer income recognition on staking or mining rewards for up to five years, rather than being taxed immediately upon receipt.

“This provision is intended to reflect a necessary compromise between immediate taxation upon dominion & control and full deferral until disposition,” the draft said.

The draft also extends existing securities lending tax treatment to certain digital asset lending arrangements, applies wash sale rules to actively traded crypto assets, and allows traders and dealers to elect mark-to-market accounting for digital assets.

Related: Galaxy predicts stablecoins will overtake ACH transaction volume in 2026

Crypto groups urge Senate to rethink stablecoin rewards ban

Last week, the Blockchain Association sent a letter to the US Senate Banking Committee, signed by more than 125 crypto companies and industry groups, opposing efforts to extend restrictions on stablecoin rewards to third-party platforms.