Tax Bill Betrays Wall Street’s Path to Control Cryptocurrencies

Embedded in the new tax bill are two changes that could have far-reaching implications for cryptocurrency investors. These changes were made at the last minute in the Senate version of the bill, likely after the failure of Segwit2x, which many in the crypto-community felt it was a backdoor takeover attempt by Wall St. of Bitcoin. The…

December 15, 20170Comments

ByTom Luongo

Bitcoin Technology

The IRS and Chainalysis: Pressure on American Bitcoin Investors

Investing in cryptocurrencies has enabled people to experience significant financial gains in a short period of time. Due to the somewhat secretive nature surrounding blockchain currencies, most casual observers would suspect that cryptocurrency assets are easily hidden away from all prying eyes; whether they come from official or unofficial sources. However, the practice of blockchain…

November 26, 20170Comments

ByKem

Bitcoin Featured

IRS to exempt users who have traded less than $20,000 from verification

During the last couple of months, the Internal Revenue Service has been in media attention, after deciding to check on users conducting transactions through the Coinbase exchange. Recent reports now indicate that the IRS is now taking a narrower path after being scrutinized by both the press and bitcoin users, hence deciding to only obtain records…

July 13, 20170Comments

ByDaniel Dob

Crypto and the IRS

Before probing as to why both Crypto and the IRS should not be quite taxing, it is more convenient to understand what they are. Crypto is short for cryptocurrency, which is a digital medium of currency. This was introduced to control fund transfer and sovereign function of any central bank. Many financiers believe that the crypto…

April 1, 20170Comments

ByLutpin

Bitcoin

The Government Accountability Office asks the IRS to be open about their hidden taxes

During the last couple of weeks, there have been numerous controversies surrounding the IRS, after it has requested customer details from Coinbase, in an effort to combat money laundering, and identify bitcoin users throughout the United States. Recent reports indicate that US citizens who proceed to invest their retirement money into purchasing bitcoin or other digital…

January 13, 20170Comments

ByDaniel Dob

Bitcoin Featured

Coinbase user filed a court motion to stop the IRS from accessing private, bitcoin user data

During the last couple of weeks, the IRS has become more aggressive when it comes down to imposing regulation on digital currency exchanges. Not long ago, they asked Coinbase to submit user information for their investigations, thus sparking numerous controversies on the digital currency market. According to recent reports, in what can be described as the…

December 18, 20160Comments

ByDaniel Dob