Daily Crypto News 1 September

El Salvador's legislature has passed legislation creating the $150 million dollar Bitcoin Trust and supporting the development of crypto infrastructure and services across the country, Cointelegraph reported. The trust is designed to facilitate the conversion of bitcoins into US dollars. As of September 7, Bitcoin is expected to be recognized as legal tender. The Development Bank of El Salvador (Bandesal) has been appointed to oversee the development of the trust.
 

According to a report by the U.S. Postal Inspection Service (USPIS), it said that the management of confiscated cryptocurrency assets and crypto-related investigation procedures needed to be improved, Coindesk reported. The audit was led by Mary Lloyd, who found "a lack of standardized training on [cryptocurrency]" for postal inspectors. Also, the accounting software has identified a problem with data integrity. Lloyd's report notes that communication between inspectors and the cryptocurrency fund program needs to be improved.
 

According to regional media reports, the Financial Administration of the Republic of Slovenia (FURS) is considering imposing a 10% taxable income on cryptocurrency assets in the near future, Cointelegraph reported. The introduction of this change aims to digitize the process. The goal is to focus solely on purchasing goods and services or converting crypto assets into fiat currencies. As a result, individuals will be taxed at 10% on their income.