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IRS releases draft of proposed reporting rules for digital asset brokers
25.8.2023
House Financial Service Committee chair Patrick McHenry said the rules are part of “the Biden Administration’s ongoing attack on the digital asset ecosystem.”
Sweeping U.S. Tax Proposal Met With Boos From Crypto World
25.8.2023
An immediate burst of criticism from the crypto industry shows the U.S. Treasury Department’s new proposal on how to handle digital assets taxes will face a long road as it enters a months-long period of public comments and hearings
U.S. Crypto Tax Proposal Lets Miners off the Hook, Snares ‘Some’ Decentralized Exchanges
25.8.2023
The U.S. Treasury Department has finally unveiled its definition of a "broker" for the crypto industry, defining how crypto companies and investors will need to meet tax reporting obligations and answering a years-old question over whether decentralized finance platforms and miners will need...
Coin Center responds to US lawmakers' request for crypto tax guidance
21.8.2023
Among the crypto advocacy group's suggestions included a De Minimis exemption for crypto transactions and having the IRS provide guidance on block rewards, airdrops, and hard forks
FTX has a plan, but creditors are not impressed: Law Decoded
7.8.2023
A body representing FTX customers said it is “extremely disappointed” by the company’s reorganization plan
A Long-Awaited Crypto Tax Rule Was Written Months Ago. Why Isn’t it Proposed?
7.8.2023
Crypto investors and their brokerages are waiting for a U.S. tax rule that will completely overhaul how they report their cryptocurrency taxes, but the government isn’t offering any straight answers about its holdup even as prominent lawmakers clamor for the Treasury Department to finish the job
Warren and Sanders Urge IRS and Treasury to Enforce Rules Against Crypto Tax Evaders
4.8.2023
Almost two years after Biden’s infrastructure bill became law, two high-profile Democrat senators are keen on ensuring that crypto reporting requirements within the bill are properly enforced.
Senators Elizabeth Warren (D-Mass.), Bob Casey (D-Pa.), and Richard Blumenthal (D-Conn.) joined Bernie...
Elizabeth Warren, Bernie Sanders urge closure of ‘$50 billion crypto tax gap’
3.8.2023
U.S. senators including Elizabeth Warren and Bernie Sanders claimed crypto tax evaders are siphoning off billions from the government
Today in Crypto: FTX Proposes Possible Restart of FTX.com for 'Dotcom Customers', US IRS Says Income From Staking Crypto Must be Reported, Justin Sun Announces Tron-Curve Partnership and Buys $3M Worth of CRV for $2M
1.8.2023
Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________...
Read More: Today in Crypto: FTX Proposes Possible Restart of FTX.com for 'Dotcom Customers', US IRS Says Income From Staking Crypto...
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...
Digital Asset Investors Should Report Crypto Staking Rewards as Taxable Income: IRS
1.8.2023
The US Internal Revenue Service (IRS) has outlined the latest tax guidance that classifies earnings from crypto staking as taxable income.
Per the Revenue Ruling of 2023-14, issued Monday by the IRS, crypto investors must report rewards earned from staking digital assets as gross income, in...
Crypto staking rewards are taxable once received: IRS
1.8.2023
The U.S. tax department will be requiring taxpayers to count staking rewards as gross income at the time they gain "dominion" over the tokens
IRS: Crypto Staking Rewards Taxable Once Investor Gets Hands on Tokens
31.7.2023
A cryptocurrency investor rewarded assets for validation activity on a proof-of-stake network should count the rewards as income in the year the investor gets control of those tokens, according to a ruling issued Monday by the Internal Revenue Service (IRS)
Judge suggests IRS issued $4K refund over tax lawsuit based on quality of lawyers: Report
26.7.2023
A couple who filed a lawsuit over how staked Tezos tokens were taxed has gone to appellate court after refusing to accept a refund check from the IRS
US Authorities Accuse Former Security Engineer of Siphoning $9 Million From Defi Platform
13.7.2023
Authorities in the United States recently revealed that law enforcement has arrested Shakeeb Ahmed for “wire fraud and money laundering in connection with his attack on a decentralized cryptocurrency exchange.” The U.S. Attorney for the Southern District of New York suggested that...
IRS probes crypto traders using Puerto Rico tax breaks: Report
13.7.2023
“The noose is tightening” for wealthy Americans suspected of exploiting Puerto Rico’s relaxed tax regime
U.S. Senate Finance Committee Asks Crypto Industry for Tax Guidance
12.7.2023
The committee sought input from the cryptocurrency industry to better understand the tax challenges presented by digital assets
Crypto Exchange Kraken Ordered to Submit User Transaction Data to IRS – Here's the Latest
2.7.2023
Cryptocurrency exchange Kraken has been ordered by a judge to submit a vast amount of user information to the Internal Revenue Service (IRS) for an investigation into potential tax evasion.
The United States District Court for the Northern District of California issued the order on Friday...
Kraken ordered by court to disclose user data to IRS for tax compliance
1.7.2023
Kraken is required to provide details of users who engaged in transactions exceeding $20,000 within a calendar year
US Judge Orders Kraken to Release Customer Data to IRS in Cryptocurrency Tax Probe
1.7.2023
Kraken, the San Francisco-headquartered digital currency exchange, has received a court order from a U.S. judge requiring the release of customer data to the Internal Revenue Service (IRS). The court filing, submitted on Friday, states that the IRS is seeking details pertaining to accounts that...