Gemcoin Founder Admits to Fraud in $147 Million Scheme
Gemcoin mastermind faces 10-year prison sentence over $147 million cryptocurrency scheme Go to Source Powered by WPeMatico
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IRS Invites Cryptocurrency Advocates to March Summit
Cryptocurrency companies and advocates will meet in DC to discuss how the IRS can “balance taxpayer service with regulatory enforcement” Go to Source Powered by WPeMatico
Tax Rules Hit Brazilian Crypto Exchanges, Forcing Trading Platforms Acesso Bitcoin and Latoex Out of Business
Tax regulations implemented even before dedicated legislation has been adopted have hit Brazilian cryptocurrency exchanges. Digital asset brokers failing to comply with the new reporting requirements face fines and the stricter rules are hurting smaller platforms, which are shutting down due to dwindling trading volumes. Also read: Tax Agents ‘Confiscate’ Bitcoin From Criminal but Keep … Read more
Russia Leads Multinational Stablecoin Initiative
Could Russian lead BRICS countries in finding innovative solutions to the functioning of the current global framework in transitioning to green economies Go to Source Powered by WPeMatico
Bitcoin and Doomsday Preppers — Would Crypto Have Any Survival Value If SHTF?
As so-called “doomsday prepping” grows in popularity thanks to news of coronavirus lockdown in Chinese cities, red flag gun laws and rampant Fed stimulus in the U.S., preparedness enthusiasts are asking about the viability of bitcoin in a SHTF situation. From cautious, light investor, to vehement denigrator of the “NSA-created surveillance money,” there is no … Read more
Blockfolio and TokenTax Join Forces to Make Taxes Easier
Blockfolio users can now import their existing crypto portfolios into TokenTax’s automated software Go to Source Powered by WPeMatico
IRS Does Not Consider Fortnite Money as Virtual Currency After All
The IRS seems to have struck certain video game currencies and Ether from its list of examples of convertible virtual currency Go to Source Powered by WPeMatico
The IRS Asks Very Deep Questions Regarding Your Cryptocurrency Activities
Filing taxes related to cryptocurrencies in the US can be a very painstaking endeavor. It now appears that the IRS crypto tax audit letter being sent out to users is a lot more invasive than initially assumed. It is no secret that the IRS wants to target cryptocurrency holders. The IRS Goes All-in on Cryptocurrency … Read more
Bitcoin Taxation Support Growing Industry – Here are 5 Useful Cryptocurrency Tax Calculators
For crypto owners looking to estimate how much they owe in taxes, there are some platforms with a free crypto tax calculator. They integrate with major crypto exchanges and wallets, allowing you to import your crypto transaction data and start calculating your taxes for free. Some of them also integrate with leading tax filing software … Read more
Tax Agents ‘Confiscate’ Bitcoin From Criminal but Keep the Coins in His Wallet
The State Revenue Service of Latvia (SRS) has seized some bitcoins for the first time. The cryptocurrency, allegedly acquired through illegal means, is still being stored in the wallet set up by a criminal. Experts have expressed concerns about the risk of the money disappearing as officials continue to insist only government agencies have access … Read more