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DeSantis Vows to Abolish IRS, Advocates Flat Tax in Presidential Bid Amidst Stiff GOP Competition
7.1.2024
On Jan. 4, 2024, Florida Governor and presidential candidate Ron DeSantis articulated his desire to abolish the U.S. Internal Revenue Service (IRS). He advocated for the adoption of a uniform rate flat tax for all U.S. residents. DeSantis declared to CNN’s Kaitlan Collins on Thursday...
Bitwage Purges USDC Payments for US Residents Due to a ‘More Strict Regulatory Climate’
7.7.2023
Bitwage, a cryptocurrency payroll company, has announced it will remove USDC-based payments for U.S. residents. In an email sent to U.S.-based customers, Bitwage explains removing the second-largest stablecoin by market cap from its platform is related to a “more strict regulatory...
Survey Shows 87% of Americans Are Stressed About Inflation and Rising Costs of Everyday Goods
21.5.2022
As the consumer price index (CPI), a measure of prices for goods and services, hit another all-time high in April reaching 8.3%, Americans are stressed out more than ever about inflation and money. A recent survey published by the American Psychological Association shows that 87% of U.S. residents...
US Inflation Skyrockets, 64% of Americans Live Paycheck to Paycheck, S&P 500 Chart Shows Death Cross Imminent
9.3.2022
Inflation continues to rear its ugly head in the lives of Americans, as 64% of U.S. residents are living paycheck to paycheck. Equities futures indicate Wednesday’s trading sessions may see stocks heal after the last two days of significant capitulation. However, the S&P 500 index...
New York Fed’s Consumer Inflation Report Expects US Inflation to Hit 5.2% by Next Year
14.9.2021
Americans are still very concerned about inflation as the latest Survey of Consumer Expectations (SCE) report from August indicates that U.S. consumers expect inflation to be 5.2% a year from now. The SCE response data hasn’t been this high since 2013, and it’s increased since...
Grooming Products Firm Axe Releases Limited Edition ‘Crypto Scented’ Doge Body Spray
20.7.2021
On Tuesday, the company that owns the brand of male grooming products, Axe, announced the launch of a dogecoin-themed and “crypto scented” body spray. The release was limited and currently, the body spray featuring the image of the cartoon Shiba Inu is no longer available to U.S....
Kraken to Halt XRP Trading for U.S. Residents
15.1.2021
Clients residing outside the U.S. will be unaffected
Circle Drops Poloniex Leaving US Crypto Traders High and Dry
19.10.2019
According to a blog post published by Circle, the cryptocurrency firm is releasing its subsidiary exchange Poloniex which is now owned by an “Asian investment group.” The trading platform will become an independent company called Polo Digital Assets, Ltd., and after November 1, 2019...
IRS Agents Propose Draconian Tactics to Investigate Bitcoin Users
9.7.2019
A recently published U.S. Internal Revenue Service (IRS) slide describes alarming recommendations on how tax agents should deal with digital currency users who are not paying taxes. The slide recommends that agents question crypto users’ friends and family, comb through social media posts...
Why Cryptocurrency Investors Are Renouncing Their US Citizenship
9.5.2019
Andrew Henderson is the founder of Nomad Capitalist, a company which helps people from around the world move to different countries while minimizing their tax obligations. In recent years the company has created plans for dozens of people who made their wealth from the cryptocurrency sector...