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Blockchain Bites: Crypto Tax Switcheroo, Stablecoin Confusion, the Post-Capitalist Plunge
25.9.2020
Fintech giant Plaid has added support for two DeFi applications, the IRS wants to know about your crypto and stablecoins have passed the $20B milestone
IRS Will Make It Harder to Avoid Declaring Crypto on Tax Returns
25.9.2020
The Internal Revenue Service plans to make all income tax payers check a box indicating whether they have transacted in crypto over 2020
Israeli Draft Bill Would Nix Hefty Capital Gains Taxes on Bitcoin
24.9.2020
The draft bill would define bitcoin and other cryptos as "currency" instead of an "asset" for tax purposes
Russian ministry proposes criminal charges for failure to report crypto tax
24.9.2020
To ban crypto or to tax, that seems to be the question
IRS to Pay $625K to Crack Monero, Crypto Proponents Scoff at Contract
11.9.2020
The U.S. Internal Revenue Service (IRS) wants to pay a contractor $625,000 if they can crack layer-two privacy schemes and the privacy-centric crypto asset monero (XMR). The tax agency says that the entity has “limited investigative resources” for tracing these types of cryptocurrency...
Targeted by IRS? What Cryptocurrency Owners Should Know
9.9.2020
The U.S. Internal Revenue Service (IRS) has started sending out new letters to cryptocurrency owners suspected of owing crypto-related taxes. A tax expert has shared with news.Bitcoin.com what crypto owners should know, including how to handle tax letters from the IRS and avoid an audit. How...
European Crypto Tax Companies Announce Merger to Power US Expansion
8.9.2020
The merger means Blockpit and Crypto Tax can look at taking their newly combined regtech offering to the lucrative U.S. market
European crypto tax firms merge in bid to expand to North American markets
8.9.2020
Another crypto merger targets tax reporting
'Exclusive Mining' Can Be Used for Money Laundering & Tax Evasion - Report
7.9.2020
Source: Adobe/Galina_lya
Cryptoasset miners are incentivized to keep transactions secret, said a recent paper, warning that the type of mining called "exclusive" allows them to do so while it can also be used for tax evasion and money laundering.
"The authors observe that blockchain...
US Man Pleads Guilty in $722 Million Bitclub Network Ponzi Scheme Case
7.9.2020
A Bitclub Network Ponzi scheme promoter has admitted to charges of selling unregistered securities and to subscribing to a false tax return in connection with his role in the $722 million fraud scam. The man, Joseph Frank Abel, pleaded guilty by video conference before U.S. District Judge Claire...
Bitcoin Will Be Accepted for Tax Payments in Swiss Canton Zug Next Year
4.9.2020
Bitcoin and ether can be used to pay taxes in the Swiss Canton of Zug starting next tax season. Zug’s crypto valley is home to many cryptocurrency businesses, and by accepting bitcoin and ether for tax payments, the canton aims to “promote and simplify the use of cryptocurrencies...
Residents of Europe’s Crypto Valley Can Pay Tax Bills in Bitcoin, Ethereum
3.9.2020
Zug. The Swiss canton of Zug – the heart of the nation’s burgeoning crypto and blockchain industry – will be allowed to pay tax bills of up to USD 109,670 in bitcoin (BTC) or ethereum (ETH) from February 2021.
Per Bloomberg, the canton’s tax authority has sealed a deal with crypto custody firm...
Swiss Canton Zug to Accept Taxes in Bitcoin, Ether From Next Year
3.9.2020
Citizens and companies in Zug will be able to pay up to $109,000 of their tax bill in either bitcoin or ether from February next year
The IRS wants to tax every penny of your crypto, US government memorandum says
1.9.2020
That will be confusing for some, and unsurprising for others
Blockchain Bites: Ethereum Classic Attacked, Electrum Wallet Drained and Taxable Microtasks
31.8.2020
Signature Bank gave out dozens more PPP loans to crypto firms than previously known, Ethereum Classic has suffered another 51% attack and a digital yuan wallet went live and disappeared
Crypto Kanoon Partners with BearTax to Help Users with Tax Docs
31.8.2020
Indian crypto media house Crypto Kanoon announced on Sunday that it has joined hands with crypto accounting software solutions platform BearTax. It stated in the official tweet that BearTax will help Indian crypto users to generate their tax documents in three steps, after scanning their crypto...
Cryptocurrency Earned From Carrying Out Microtasks Is Taxable, Says IRS Memo
31.8.2020
The U.S. tax department has provided guidance around crypto revenue earned from microtasks via crowdsourcing platforms, and yes, such income is taxable
Free Market Family: Goldbug Peter Schiff Asks the Bitcoin Community to Gift Crypto to His Son
29.8.2020
The American libertarian, economist and financial commentator Peter Schiff has been criticizing bitcoin for years, as he believes “bitcoin has no real value.” However, on Thursday Schiff asked the crypto community to give some bitcoin to his 18-year old son Spencer for his birthday...
IRS Sends Fresh Round of Tax Warning Letters to Cryptocurrency Owners
26.8.2020
The U.S. Internal Revenue Service (IRS) has begun sending new warning letters to cryptocurrency owners. This followed the tax agency prioritizing cryptocurrency on its tax forms. “The IRS is getting very serious about cryptocurrency tax compliance,” a tax expert told news.Bitcoin.com....
Bitwage Rolls Out Tax Calculator Tool as IRS Ramps Up Crypto Pressure
26.8.2020
The new tool comes as the IRS is sending more letters to crypto investors