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Biden’s 44.6% capital gains tax proposal likely a ‘nothing burger’
25.4.2024
President Biden’s move to introduce a 44.6% federal capital gains tax probably wouldn’t affect most people in crypto, according to crypto tax commentators
Crypto Assets Record 7-Day Upticks: NEAR Rises 33%, BONK Up by 32%
22.4.2024
According to the most recent figures, the value of the cryptocurrency market has reached $2.43 trillion after a 2.62% increase in the last 24 hours. Bitcoin and ether have risen by 4% and 3.5%, respectively. NEAR experienced a significant uptick of 33% this past week, while BONK escalated by 32.7%....
Amid a Week of Severe Crypto Lows, TON and ONDO Record Gains Despite Broad Market Declines
15.4.2024
The past week has not been favorable for the majority of cryptocurrency assets, with only four specific digital currencies recording gains. This week, ONDO appreciated by 13.2%, TON increased by 11.3%, PENDLE grew by 6%, and LEO saw a slight uptick of 0.5%. Market Update: A Tough Week for Crypto...
Fear of Retrospective IRS Regulation Changes Discourages Filing, Says Crypto Tax Expert
3.4.2024
Many cryptocurrency users have not filed their tax returns, fearing that the Internal Revenue Service (IRS) might change regulations after they submit their returns, according to a cryptocurrency tax expert. The expert stated that the IRS has the discretion to apply laws retroactively...
Arweave and Aptos Lead Crypto Market Surge With Stellar Gains as BTC Nears All-Time High
28.2.2024
Bitcoin experienced a 6.8% increase on Wednesday, reaching a peak of $64,000. This upturn also propelled several other digital assets upwards, notably arweave (AR) with a 50.3% increase and aptos (APT) with a 23.5% appreciation against the U.S. dollar. AR, APT, FET, DOGE, PEPE, and ORDI Post...
FLR and UNI Spearhead This Week’s Crypto Gains as Token Economy Holds Above $2 Trillion
26.2.2024
In the last week, 23 cryptocurrencies experienced notable gains against the U.S. dollar, with flare (FLR) and uniswap (UNI) leading the charge. Concurrently, dymension (DYM) and helium (HNT) saw significant declines over the same period. FLR and UNI Lead Gains in a Diverse Week for Cryptos, Despite...
Japanese Cabinet Approves Tax Reform Eliminating Unrealized Crypto Gains Tax for Companies
25.12.2023
The Japanese government has approved a tax reform that removes some crypto taxes for corporations and conglomerates. The reform, discussed since early December, removes the unrealized gains taxes on crypto holdings for companies, paving the way for them to hold crypto assets more consistently....
Bitcoin Outshines Gold: Digital Asset Surges 166% in 2023, Dwarfing Gold’s Modest 9% Gain
9.12.2023
Gold achieved a record high of $2,117 per troy ounce on Dec. 3, 2023, yet its price per ounce has decreased by 5.33% in the previous week. Despite hitting this unprecedented peak, its year-to-date increase against the U.S. dollar is relatively modest at 9.9%. In contrast, bitcoin, the leading...
DeFi Users Seek Clarity as Australia’s Tax Office Fails to Explain New Capital Gains Tax Rules
24.11.2023
The ATO’s opaque DeFi tax guidance perplexes Australian crypto investors. Image by Vadym, Adobe Stock. The Australian Taxation Office (ATO) released new guidance on November 9, stating that capital gains tax (CGT) applies to certain decentralized finance (DeFi) transactions. The tax agency...
Australia’s tax agency won’t clarify its confusing, ‘aggressive’ crypto rules
24.11.2023
The Australian Tax Office’s new rules on DeFi are unclear on whether capital gains taxes apply to liquid staking and transferring to layer 2 bridges
Digital Asset Funds Record $176 Million Inflows as Market Rebounds: Here’s More
20.11.2023
Source: Adobe / Luisa The digital asset market continues to notch multiple wins in recent months as it recovers losses recorded in previous months with multiple assets soaring to yearly all-time highs. A new CoinShares Weekly Asset Flow report shows a massive increase in investor sentiments over...
Bitcoin disappoints while Markets Pro delivers 88% gains in 29 hours
3.11.2023
Cointelegraph Markets Pro hands investors breaking alerts leading to multiple double-digit trades in a “dead” crypto market
Report: Cryptopunks and Blue Chips Power Top NFT Traders to Over $300 Million in Profits
8.8.2023
The top 15 traders in the Ethereum non-fungible token (NFT) market have amassed up to $101.6 million in profits, as revealed in Coingecko’s latest NFT report. These traders lucratively capitalized on early investments in esteemed blue-chip NFT collections such as Cryptopunks, Bored Ape Yacht...
Crypto Staking in the Crosshairs: IRS Unveils New Tax Guidance
1.8.2023
The U.S. Internal Revenue Service (IRS) has issued a decree stating that American citizens drawing income from cryptocurrency staking services must categorize the value of those digital assets as gross income, the moment they officially take possession of the staking reward. IRS Clarifies...
Japan Blockchain Association Urges Tokyo to Overhaul Crypto Tax System
31.7.2023
An industry organization in Japan has suggested that the government should reform taxation rules for crypto assets and transactions. Its members are convinced that the current tax regulations hinder growth of the Web3 economy in the country and discourage taxpayers from holding and using...
US Presidential Candidate Robert Kennedy Jr Unveils Plan to Back US Dollar With Bitcoin
20.7.2023
U.S. presidential candidate Robert F. Kennedy Jr. (RFK Jr.) has unveiled two new reforms for bitcoin if he is elected president. He plans to back the U.S. dollar with the cryptocurrency and eliminate capital gains taxes on the conversion of bitcoin to USD. RFK Jr. stressed that...
XRP’s Rise Causes Ripple of Gains in Crypto Economy
14.7.2023
Since July 12, 2023, the cryptocurrency market has expanded by a staggering $60 billion within a mere 48 hours. The majority of this growth transpired after the decisive Ripple Labs case verdict, resulting in bitcoin’s dominance dipping from 50% to its present level of 48.6%. Ripple Labs...
Crypto Market Remains in ‘Bitcoin Season’ as ‘Altcoin Season’ Drought Hits Record Two-Year Mark
11.7.2023
According to data, the cryptocurrency ecosystem has endured its longest stretch without an altcoin season. So far, it has been more than two years without an altcoin season, and there have been no signals indicating one might emerge. Altcoin Season Eludes Cryptocurrency Market for 2 Years Recently...
Redemptions Plague Stablecoin Economy, Wiping Out Over $2 Billion in June
2.7.2023
The market capitalization of the stablecoin economy on July 2, 2023, has fallen below the $129 billion mark to the current $128.21 billion, according to statistics. Just over $2 billion in stablecoins have been withdrawn from the stablecoin token economy since May 28. Stablecoin Economy Faces...
Crypto Market Rises by $30B in 48 Hours — Bitcoin Cash Leads With 88% Weekly Gain
25.6.2023
On Sunday, June 25, the cryptocurrency market experienced a modest increase in value, climbing from $1.21 trillion two days prior to its current value of $1.24 trillion. Bitcoin has surged 15% in the past week, while ethereum has risen over 10% against the U.S. dollar. Furthermore, numerous other...