New York regulator that issues BitLicences adds a Silk Road investigator to its legal counsel. April 28, New York State Department of Financial Services (NYSDFS) announced that it is adding a former Silk Road investigator as general counsel. The Department regulates financial services and products, which include cryptocurrency-related businesses. It awards the two types of […]
Continue ReadingCheck the bad crypto news of the past week. It’s been a good week for Bitcoin. After languishing at around $6,700, the cryptocoin is up more than 6 percent over the last week to take it above $7,000. And the next halving is now less than three weeks away. Changpeng Zhao is looking further ahead. […]
Continue ReadingDoes blockchain technology grant enough anonymity? Experts’ opinions vary, as some say the technology hasn’t lived up to the expectations. The first blockchain was launched more than 10 years ago and since then, it has evolved from simply being a backbone for Bitcoin (BTC) to a global technological phenomenon. In some sense, the distributed ledger […]
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In response to the coronavirus pandemic, the IRS is updating some important guidelines and procedures to make them easier. Many investments these days seem volatile, but there are few asset classes that have been as volatile as crypto. If you have losses, you might have trouble claiming them, offsetting gains or reducing your income. In […]
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Square has launched an online portal allowing U.S. citizens to divert their stimulus payments to its Bitcoin-friendly Cash App. Square’s Cash App is allowing U.S. citizens and residents who don’t usually file a tax return to direct forthcoming government stimulus payments to the mobile payments application. The move comes after the company failed to convince […]
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Crypto accounting software firm Lukka has been chosen by RSM, the fifth-largest accounting firm in the U.S., to provide its tax technology to RSM’s clients. Blockchain-native software and tax services company, Lukka, has been chosen to provide crypto taxation software to the fifth-largest accounting firm in the United States, RSM. Cointelegraph spoke to Lukka CCO […]
Continue ReadingSamourai Wallet’s Bitcoin mixing CoinJoin service saw its monthly volume triple to over $10 million during March. Volume for Samourai Wallet’s non-custodial Bitcoin mixer, Whirlpool, tripled last month, with the service processing more than $10 million worth of Bitcoin (BTC). According to data published to Twitter by Whirlpoolstats’ Matt Odell, March activity comprised 40% of […]
Continue ReadingGiven the economic losses due to the COVID-19 pandemic, can we expect governments to be more vigilant in taxing cryptocurrency this year? Could this be the year the world gets serious about cryptocurrency taxation? The coronavirus pandemic, after all, could cost the global economy as much as $4.1 trillion — or almost 5% of global […]
Continue ReadingIn response to the coronavirus pandemic, the IRS is taking some important measures but taxpayers could be under threat. The United States Internal Revenue Service delayed tax day this year from April 15 to July 15, and perhaps that means many Americans aren’t thinking about taxes during this very strange time. Indeed, they seem understandably […]
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The CARES Act shed light on the possibility of a digital dollar. Meanwhile, a blockchain-based solution is also being explored. Will one of them launch soon? The coronavirus pandemic is the biggest global crisis since the events that sparked the creation of Bitcoin (BTC) in 2008, and is one that will also have long-lasting effects […]
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