Do you want to be rich? This is the proper way to invest your money so it grows while you sleep. Two of the most frequent questions that I get from people in the crypto community are: what do you invest in and what are the best investing strategies? As a general rule, the best […]
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The International Financial Reporting Interpretations Committee (IFRIC) has ruled that cryptocurrencies, including Bitcoin, are neither financial assets nor legal tender. The International Financial Reporting Interpretations Committee (IFRIC) has ruled that cryptocurrencies, including Bitcoin (BTC), are neither financial assets nor legal tender. The Korea Times reported the development on Sept. 23, citing the Korea Accounting Institute’s […]
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The Portugal Tax Authority announced tax-free cryptocurrency trading, adding to the tax benefits already offered by the national government. The Portugal Tax Authority (PTA) announced last month that cryptocurrency trading and payments in crypto would not be subject to value-added tax (VAT). According to the announcement, cryptocurrency payments that are subject to the provision of […]
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Some in the crypto community have embraced Puerto Rico. Could it be the country for you? Some in the crypto community have embraced Puerto Rico, which seems to have done a good job of promoting itself. But is it for you? I can only address the tax issues, not anything else. To a large extent, […]
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The IRS is using unreliable tax forms received from cryptocurrency exchanges to come after traders. Over the past month, we have seen the IRS, the tax collecting agency of the United States, send out more than 10,000 warning and action letters to suspected cryptocurrency holders and traders who may have misreported digital assets on their […]
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Vanbex sells Rocket and CryptoTaxes to crypto exchange Hyperion Technologies amid ongoing investigation into alleged fraud during ICO. Securities and cryptocurrency exchange Hyperion Technologies acquired two products developed by blockchain consulting firm Vanbex Labs, which is currently under investigation in British Columbia. Vanbex announced in a post published on its blog on Sept. 4 that […]
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The United States tax collecting and legislation authority, the Internal Revenue Service, sends a new round of letters to cryptocurrency holders. Last week, the United States Internal Revenue Service sent another round of letters to crypto traders called CP2000. These notices were sent to traders of some crypto exchanges due to inconsistencies found in their […]
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Here’s how today’s crypto taxation laws look like across the globe, from the U.S. to South Korea, Switzerland, Japan, Australia and Malta… Upon its inception, Bitcoin was envisioned as a borderless currency that could be used by its owners without being affected by the regulatory impositions of any centralized agency or government body. And while […]
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Independent public charity Fidelity Charitable has received $100 million in cryptocurrency donations since 2015. Independent public charity Fidelity Charitable has received $100 million in cryptocurrency donations, according to its recently published report. In its “2019 Giving Report,” Fidelity Charitable illustrated account development throughout 2018, and provided insights into its growth since its establishment. Generally, the […]
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Global investor sentiment toward the crypto industry seems to have shifted in recent years. Here’s how the regulations surrounding this space look in 2019… As the global investor community starts to become increasingly aware of what crypto has to offer, it appears as though this burgeoning asset class is becoming more and more accepted. This […]
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