New tax rules for crypto in the US: Law Decoded
The United States Internal Revenue Service has released proposed regulations on the sale and exchange of digital assets by brokers. Go to Source
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Robinhood accumulated $3B in Bitcoin in 3 months — What does this mean for markets?
Robinhood’s Bitcoin holdings could reshape the crypto landscape by supercharging the influence of retail investors and possibly creating new market risks. Go to Source
IRS releases draft of proposed reporting rules for digital asset brokers
House Financial Service Committee chair Patrick McHenry said the rules are part of “the Biden Administration’s ongoing attack on the digital asset ecosystem.” Go to Source
Coin Center responds to US lawmakers’ request for crypto tax guidance
Among the crypto advocacy group’s suggestions included a De Minimis exemption for crypto transactions and having the IRS provide guidance on block rewards, airdrops, and hard forks. Go to Source
FTX has a plan, but creditors are not impressed: Law Decoded
A body representing FTX customers said it is “extremely disappointed” by the company’s reorganization plan. Go to Source
Crypto staking rewards are taxable once received: IRS
The U.S. tax department will be requiring taxpayers to count staking rewards as gross income at the time they gain “dominion” over the tokens. Go to Source Powered by WPeMatico
Judge suggests IRS issued $4K refund over tax lawsuit based on quality of lawyers: Report
A couple who filed a lawsuit over how staked Tezos tokens were taxed has gone to appellate court after refusing to accept a refund check from the IRS. Go to Source Powered by WPeMatico
Kraken ordered by court to disclose user data to IRS for tax compliance
Kraken is required to provide details of users who engaged in transactions exceeding $20,000 within a calendar year. Go to Source Powered by WPeMatico
Five US enforcement agencies form new digital currency anti-crime task force
The agencies have worked together for years, but now their joint efforts are official as they plan to ramp up activity. Go to Source Powered by WPeMatico
Intuit introduces proprietary large language models for fintech with GenOS
Intuit is launching an operating system for generative artificial intelligence that will feature AI models trained on the company’s financial data. Go to Source Powered by WPeMatico
