US-based crypto users likely still have to pay taxes on NFTs, says CNBC
“If you exchange crypto for any other asset, you immediately recognize a capital gain or loss,” said Robert Frank. Go to Source Powered by WPeMatico
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‘Inhospitable to capitalism’ US can target those ditching dollar for Bitcoin — Ray Dalio
Investors should reduce dollar exposure, the billionaire says, as MicroStrategy’s Saylor describes Bitcoin as the “obvious solution.” Go to Source Powered by WPeMatico
IRS Launches ‘Operation Hidden Treasure’ to Target Unreported Crypto Income
The U.S. Internal Revenue Service (IRS) has reportedly launched an operation to target cryptocurrency investors. Dubbed “Operation Hidden Treasure,” the team consists of agents trained in the field of cryptocurrency and transaction tracking. Damon Rowe, Executive Director at the IRS Office of Fraud Enforcement, unveiled “Operation Hidden Treasure” last week at a Federal Bar Association … Read more
ICON (ICX) unaffected by South Korean tax investigation into ICONLOOP, says chairman
The South Korean tax authority is trying to track the movement of ICO funds raised in foreign countries into its domestic markets. Go to Source Powered by WPeMatico
Crypto Tax Compliance Startup Taxbit Raises $100 Million, Targets International Expansion
U.S. crypto tax compliance startup Taxbit has raised $100 million in a Series A funding round led by investment firms Paradigm and Tiger Global. Paypal Ventures, Coinbase Ventures, and others including Bill Ackman, Ryan Smith, and Anthony Pompliano also joined the round. Taxbit chief executive officer Austin Woodward said the funds will be invested in … Read more
Kentucky to provide tax breaks for local crypto miners
Kentucky needs to attract more crypto mining businesses by offering tax breaks, local lawmakers believe. Go to Source Powered by WPeMatico
US crypto tax startup TaxBit to channel $100M raise into UK expansion
Utah-based startup TaxBit prepares to provide global crypto-oriented tax expertise with a newly raised $100 million. Go to Source Powered by WPeMatico
South Korea fastracks 20% tax on Bitcoin and crypto profits to 2022
After much back and forth, South Korea appears to have finally set a hard date for the dawn of cryptocurrency taxation. Go to Source Powered by WPeMatico
Russian Duma prepares bill on cryptocurrency taxation
The Russian State Duma will consider a new bill on cryptocurrency taxation on Feb. 17. Go to Source Powered by WPeMatico
Miami council supports mayor’s move to offer city worker salaries in Bitcoin
The City Commission of Miami is now looking into the feasibility of allowing Miami residents to pay taxes and receive salaries in Bitcoin. Go to Source Powered by WPeMatico