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P2P Bitcoin Exchange Paxful Shuts Down Venezuela Operations to Comply With US Sanctions
16.9.2020
Peer-to-peer (P2P) crypto exchange Paxful is shutting down its operations in Venezuela, apparently, to comply with U.S. economic sanctions against the leftist government of disputed president Nicolas Maduro. On Tuesday, a Paxful spokesperson told news.Bitcoin.com that the exchange will now start...
Revolut Adds Bitcoin Cash and Litecoin Support for US Customers
1.9.2020
Following the launch of Revolut’s new crypto exchange in the U.S. the company has added bitcoin cash and litecoin support. Alongside bitcoin and ethereum support, the trading platform’s added coins provide Revolut users with the ability to buy, store, and sell four different digital...
IRS Prioritizes Cryptocurrency, Now First Question on 1040 Tax Form
22.8.2020
The new U.S. tax form is out and the cryptocurrency question is the first one on the main 1040 tax form used by about 150 million people to file their taxes. The Internal Revenue Service (IRS) requires all tax filers to declare whether they have received, sold, exchanged, or acquired...
US Agency Says Chinese Drug Traffickers Used Bitcoin to Launder Proceeds
17.7.2020
The U.S. Office of Foreign Asset Control has sanctioned four Chinese residents, claiming they helped launder drug proceeds using bitcoin
Advocacy Group Claims IRS-Issued Crypto-Warning Letters Violated Taxpayer’s Rights
14.7.2020
Close to a year ago last July, the U.S. Internal Revenue Service (IRS) revealed it would be sending ‘soft letters’ to suspected American cryptocurrency owners advising them to pay their taxes. Now according to the Taxpayer Advocate Service, a subsidiary of the IRS, the soft letters...
Abra Crypto App Charged by SEC for Transactions Affecting Thousands of US Stock and ETF Purchases
13.7.2020
Abra cryptocurrency app has been charged by two U.S. regulators: the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). The company has agreed to cease-and-desist orders as well as fines. The SEC says Abra’s employees “effected thousands...
Personal Data of 250,000 People From 20 Countries Leaked by Bitcoin Scam
5.7.2020
A global bitcoin scam has reportedly leaked personal data of about 250,000 people from more than 20 countries. The majority of the compromised data were of people in the U.K., Australia, South Africa, and the U.S. This bitcoin scam operates under several different names. Investors’ Personal...
Loophole in U.S. Tax Law Could Allow Bitcoin Traders to Write off Unlimited Losses
10.6.2020
A loophole in the U.S. tax law could allow qualified bitcoin traders to write off unlimited losses from their trading activities, according to an expert from crypto tax platform Coin Tracker. Traders, defined by U.S tax collection agency Internal Revenue Service (IRS) as people who trade...
10 Tips for Filing Crypto Taxes
7.6.2020
There are only a few more weeks before the U.S. tax season. The 2020 U.S tax season deadline has historicallyContinue Reading
The post 10 Tips for Filing Crypto Taxes appeared first on CoinMarketCap Blog
Bitcoin Mining Equipment Maker Ebang Files $100 Million IPO for US Stock Market Listing
26.4.2020
Bitcoin mining chip maker Ebang International Holdings Inc. is seeking to raise up to $100 million through an initial public offering (IPO) in the U.S. The Chinese company will sell Class A ordinary shares of nominal value HK$0.001 (US$0.00013) per share if its IPO filing is approved. In a filing...
Tax Expert: IRS Crypto Question ‘Unconstitutional,’ Card Points, Flyer Miles Could Be Virtual Currency
19.3.2020
While its well-known that the revised Schedule 1 form for U.S. taxpayers now contains a question about cryptocurrencies, what is lesser discussed are the legal ramifications this may have for filers who answer incorrectly. The vague nature of the yes or no inquiry has one tax expert doubting...
How the IRS Audits Cryptocurrency Tax Returns – Filing Expert Shares Example, Insights on AML Focus
23.2.2020
Tax season is one of the most dreaded times of the year for many, and when the added confusion of filing crypto returns is thrown into to the mix, things can get even stickier. News.Bitcoin.com recently talked with Clinton Donnelly of Donnelly Tax Law, a service that specializes in crypto returns....
Treasury Secretary Mnuchin Gives Testimony on Cryptocurrency, New Regulations Rolling Out Soon
13.2.2020
U.S. Treasury Secretary Steven Mnuchin gave his testimony on cryptocurrency before the Senate Finance Committee on Wednesday. Mnuchin said crypto is a “crucial area” that the Treasury has spent a lot of time on. He also talked about stablecoins and announced that new crypto regulations...
Conservative U.S. Think Tank Denies Need for Federal Digital Currency
12.2.2020
The government should ensure consumers can use the preferred currency instead of launching a digital currency, according to U.S. think tank the Heritage Foundation
German Economy in Risk of Recession Amid Weak Demand, Tariff Threat, and Epidemic
8.2.2020
Germany, the economic powerhouse of Europe, is facing renewed challenges that may soon push it towards recession. Falling industrial production and dwindling factory orders are the prime cause of concern. The negative results have been announced on the backdrop of weak demand from Eurozone...
Fed Officials Ponder Funding Hedge Funds and Private Brokers Directly
15.1.2020
On January 13, the New York Federal Reserve gave $60.7 billion to eligible private financial institutions by leveraging U.S. Treasurys and agency securities. With all the stimulus given to financial institutions since September, it hasn’t relieved the stress of economic uncertainty. Now...
Mnuchin Affirms $1.5 Trillion Unaccounted For, Still Demands Strict Bitcoin Regulation
23.12.2019
U.S. Treasury Secretary Steven Mnuchin remarked last week that a reported $1.5 trillion in missing cash — mostly one hundred dollar bills — was “sitting in bank vaults all over the world.” The famously anti-bitcoin U.S. official noted that “there’s a lot...
US Government Worried Crypto Can Shift Power to Private Sector
28.11.2019
Cryptocurrency is one of the top issues for the U.S. Treasury. Particularly, the Treasury is worried decentralized cryptocurrencies can shift some functions away from the government to the private sector and raise the issue of self-government, according to Deputy Secretary of the Treasury Justin...
US Treasury to Monitor Libra Over Possible Financial Risks
23.10.2019
The Treasury Department has committed to monitoring the Facebook-led cryptocurrency project Libra alongside regulatory efforts by Congress
US Treasury Blacklists Bitcoin, Litecoin Addresses of Chinese ‘Drug Kingpins’
21.8.2019
The U.S. Treasury's OFAC has put bitcoin and litecoin addresses of three Chinese nationals on its sanctions list, the second time the agency has blacklisted crypto wallets