IRS issues crypto relief, XRP market update, the Bitcoin quantum computing debate, and more in this Week in Review. Week in Review The IRS announced temporary tax relief for crypto holders on centralized exchanges in 2025. XRP broke key resistance, trading around $2.36–$2.40, with bullish momentum suggesting a potential target of $2.90. In Bitcoin news, […]
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The arrest and extradition battle of Roger Ver has ignited the #FreeRoger movement, a grassroots campaign calling attention to what advocates see as the misuse of legal systems to suppress dissent and punish individuals connected to crypto. Roger Ver’s Battle With U.S. Authorities Sparks Global Outcry The #FreeRoger movement has gained momentum across social media […]
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The Internal Revenue Service (IRS) is planning to send investigators to four countries where they are expected to tackle the use of crypto and decentralized finance products in global financial and tax crimes. According to the tax collector’s spokesperson, the IRS will be able to determine the success of the pilot program by rating the […]
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Coinbase has revealed that it received a total of 1,914 requests for customer data from global law enforcement agencies during the first six months of 2020. It is, however, not clear how many of the requests were fulfilled. In its first so-called“transparency report” published Friday, the U.S. crypto exchange – which boasts a user base […]
The post Coinbase Received 1,900 Requests for Client Info From Law Enforcement During First Half of 2020 appeared first on Bitcoin News.
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Police in New Zealand confiscated NZ$140 million ($91 million) from Russian bitcoin exchange operator Alexander Vinnik. Vinnik is the alleged owner of the collapsed BTC-e exchange. The funds were seized from bank accounts held by Canton Business Corporation, a New Zealand-registered company managing the exchange. Police said on Monday it is the biggest seizure in […]
The post New Zealand Police Seize $91 Million From Russian Bitcoin Exchange Operator appeared first on Bitcoin News.
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The Internal Revenue Service (IRS) has won a case in which it demanded that a Maryland couple liquidate their bitcoin to pay-off a $1.1 million tax debt. Alexander and Laura Strashny proposed to the IRS to pay their 2017 tax liability, generated from non-crypto activities, in installments over a six-year period. But after seeing the […]
The post IRS Tells Couple With $7 Million in Bitcoin to Liquidate Crypto Assets and Pay off Tax Debt appeared first on Bitcoin News.
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A loophole in the U.S. tax law could allow qualified bitcoin traders to write off unlimited losses from their trading activities, according to an expert from crypto tax platform Coin Tracker. Traders, defined by U.S tax collection agency Internal Revenue Service (IRS) as people who trade substantially, regularly and continuously, are allowed a maximum capital […]
The post Loophole in U.S. Tax Law Could Allow Bitcoin Traders to Write off Unlimited Losses appeared first on Bitcoin News.
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Two-thirds of people who use Coinbase are willing to leave the platform following reports that the U.S. exchange plans to sell user data to two government agencies for $250,000. Cryptocurrency trader and analyst John Rager carried out a poll on Twitter, asking his 73,000 followers: “Would you actually delete or stop using your Coinbase account?” […]
The post 66% of Coinbase Users Willing to Leave the Exchange Due to Mounting Privacy Concerns appeared first on Bitcoin News.
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Two research firms released compelling data on the state of Bitcoin Core (BTC). Chainalysis revealed 36% of BTC in circulation is lost, likely lost, or unmined. The percentage of BTC held by speculators is 22%, while investors accounted for a steady 30%. The United States government, and especially its Internal Revenue Service (IRS), reportedly account […]
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On its 6th birthday, Coinbase received high praise from Shapeshift’s Erik Voorhees. He Tweeted, “Coinbase remains the most successful and important company in the crypto industry.” Arguably, that is very much the case. The San Francisco-based cryptocurrency exchange with its barebone menu of offerings, combined with its easy user-interface and relatively smooth onboarding (almost no […]
The post Coinbase Remains the Most Successful and Important Company in the Crypto Industry appeared first on Bitcoin News.
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