The Internal Revenue Service (IRS) recently released instructions for computing taxes involving crypto assets. The digital market has been waiting for this report since May 2019 after the Revenue’s chief Chuck Rettig hinted at an update to the existing regulations. In April 2019, some members of Congress wrote to Rettig seeking clarification regarding crypto reporting…
The Internal Revenue Service (IRS) has sent communication to several market participants discussing backdated tax settlements in the digital asset trade. The IRS posted on its website that investors' federal returns differ from the information provided by cryptocurrency exchanges. As such, the agency is seeking traders' contribution on amended tax returns using profits from digital…
Ted Budd, the representative of North Carolina's (NC) 13th congressional district has submitted a tax proposal to the United States House of Representatives. This bill focuses on enhancing how the Internal Revenue Service (IRS) handles cryptocurrencies in order to eliminate the profits and losses surrounding like-kind exchanges. No More Double Taxation Budd seeks to revise the 1986…
The Bitcoin market has experienced relative growth in the past seven days, and it remains to see if the trend will continue past the Christmas and New Year's dates. Many trading experts are calling this and other rallies "dead cat bounces", but that of course, remains to be seen. Bitcoin shortly passed the $4000…
After establishing new rules and regulations for banks and fintech companies allowing them to trade unlisted securities using the blockchain, the French Council of State decided that cryptocurrency trading profits are under too much pressure, and has already taken the necessary action to alleviate the taxes. Unbeknown to us, for an unspecified period of time and based…
Therese Helland is a prominent consultant for Bitcoin and Blockchain and based at present in Oslo (Norway). Interest in the digital currency and platform encouraged her to study the Bitcoin ecosystem in detail. She was elected recently as one of the board members of the country’s Bitcoin Association. Ms. Helland owns a café in the…