The US federal court sides with the IRS in a dispute involving crypto whales and unpaid taxes. The United States Tax Court has affirmed the IRS’ decision to deny a Maryland couple an installment plan. They state instead that the couple should liquidate their $7 million cryptocurrency holdings to pay off the tax debt. The […]
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The utopian idea of universal basic income — which has been with humanity for at least half a millenia — can become real with digital currency. Due to the crisis caused by COVID-19, millions of people have lost all or part of their income. To support them, governments have been giving out money to victims. […]
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Although scant on details, South Korea’s finance minister has confirmed that taxes will be imposed on cryptocurrency in the country. The South Korean Finance Minister, Hong Nam-Ki, announced plans to impose a tax on cryptocurrency, while speaking to the parliamentary finance committee on June 17. According to a report from local news outlet, Korea JoongAng […]
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Kazakhstan is aiming to attract nearly $740 million dollars in investment through various crypto industry-related activities over the next three years. The government of Kazakhstan has set a goal to attract $738 million from investments in cryptocurrency related mining activities over the next three years. According to the Astana Times on June 16, Kazakhstan’s Minister […]
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The Internal Revenue Service has already changed its deadlines to July 15, so if you are not ready to file your crypto taxes in a month, you should ask for an extension. Tax day this year, like everything else, is different. The United States Internal Revenue Service has rescheduled it to July 15, but there’s […]
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Traders say the price of Bitcoin may drop to the $7,000s after the weekly candle closes below $9,400. A new weekly Bitcoin (BTC) candle opened at $9,327 on June 15, under a crucial resistance level at $9,400. Traders say the price of Bitcoin could fall to the $7,000s in the near term. Critical support levels […]
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A leading South Korean professor from the Hongik University does not believe cryptocurrencies are safe from market recession. On June 11, South Korean experts stated through local media that cryptocurrencies are a “poor choice” of safe-haven assets during the COVID-19 pandemic. According to The Scoop, Professor Hong Ki-hoon of Hongik University stated that crypto-assets like […]
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Belarus Central Bank authorizes several banks in the country to begin issuing tokenized offerings. On June 10, 12 Belarus’ commercial and state-owned banks received permission from the national central bank to issue digital tokens. They will distribute these digital offerings through an upcoming pilot program. According to Sputnik Belarus, the country has adopted Decree No. […]
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Seychelles-based exchanges moved $36 billion worth of Bitcoin across international borders in 2019. Seychelles-based exchanges led the world in cross-border Bitcoin (BTC) transactions in 2019. What Switzerland is to the world of watchmaking, Seychelles is to the world of crypto exchanges. The small island nation with a total population of less than 100,000, presents a […]
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Tradehorn has become the latest startup to launch a cryptocurrency exchange in India after the Supreme Court repealed the Reserve Bank’s ban. The repeal of the Reserve Bank of India’s (RBI) crypto ban has driven a boom in exchanges launching in India, offering hope that the growth of a robust local industry will incentivize lawmakers […]
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