The U.S. Internal Revenue Service (IRS) has issued long-awaited guidance on the tax treatment of cryptocurrencies. It is generally described by the crypto community as a mixed bag since some parts are useful while others have raised many more questions, particularly how cryptocurrencies from hard forks and airdrops are taxed. Also read: 10 Tax Tools […]
The post IRS Issues New Crypto Tax Guidance After 5 Years – Experts Weigh In appeared first on Bitcoin News.
https://news.bitcoin.com/irs-issues-new-crypto-tax-guidance-after-5-years-experts-weigh-in/
The Russian Ministry of Labor has reportedly banned government officials from owning and using cryptocurrencies. Officials have also been ordered to dispose of any cryptocurrencies they own by April. Russia Prohibits Government Officials From Holding or Using Cryptocurrencies The Ministry of Labor and Social Protection of the Russian Federation has issued a letter in which […]
https://news.bitcoin.com/russia-prohibits-government-officials-owning-crypto-dump-holdings-april/
JP Morgan has outlined three key reasons why investors should add bitcoin to their investment portfolios. Small allocations to cryptocurrencies would “improve portfolio efficiency due to high returns and moderate correlations,” JPMorgan’s analyst explained. JP Morgan Sees Benefits of Hedging With Bitcoin JPMorgan released a report last week entitled “What cryptocurrencies have and haven’t done […]
https://news.bitcoin.com/jp-morgan-bitcoin-investment-portfolios/
On Monday, January 25, 2021, at roughly 2 a.m. (EST), the notorious old school miner from 2010 has spent another consecutive 21 decade-old block rewards with 1,050 bitcoin. This is possibly the same mining entity our newsdesk has been tracking for months. The bitcoin from 2010 moved today follows the exact same pattern as all […]
https://news.bitcoin.com/21-bitcoin-block-rewards-from-2010-wake-up-236m-worth-of-satoshi-era-btc-spent-in-10-months/
PRESS RELEASE. ZelaaPayAE, with a vision to build and improve the financial structure, introduces a Crypto Debit Card with the ability to be swiped not just in UAE but also globally. Partnering with Baanx, ZelaaPayAE is providing Mastercard enabled Debit Card featuring personalized cards with a low monthly fee and extreme accountability. What makes it […]
https://news.bitcoin.com/zelaapayae-uae-will-now-have-a-crypto-debit-card/
Threat actors have been finding opportunities in bitcoin’s bullish trend to increase their extortion campaigns. Hackers are actively threatening companies with DDoS attacks unless they pay for bitcoin ransoms. Bull Run Prices Push Extortionists to Increase Bitcoin Ransom Demands According to an alert issued by security firm Radware, there have been several reports between December […]
https://news.bitcoin.com/ddos-attackers-return-with-massive-extortion-campaigns-in-the-wake-of-bitcoin-prices-surging/
During the last two months, tether transactions have spiked considerably. More recently, however, USDT transactions on the Tron network have outpaced the number of tether transfers on the Ethereum blockchain. Despite a whole lot more ERC20-based tethers in the wild, the minted stablecoin using the TRC20 standard has seen a much larger transaction count all […]
https://news.bitcoin.com/usdt-transactions-on-tron-surpassed-ethereum-tether-transactions-every-day-in-2021/
PRESS RELEASE. CashPay brings ecommerce a step closer to Blockchain Technology through an open distributed ledger that records transactions between two parties in a decentralized manner that involves trust, faster transactions, no hidden costs, etc. With its launch in 2021, the CashPay platform is going to start with the initial implementation of $CPZ (token), closely […]
https://news.bitcoin.com/cashpay-e-commerce-marketplace-powered-by-cryptocurrency-launched/
A new research note released by the Bank of Singapore (BOS) suggests that cryptocurrencies are likely to replace gold as a store of value. However, the note says it is unlikely that such digital currencies can replace fiat currencies even as their appeal grows. Inefficient Unit of Exchange According to the research note, it is […]
https://news.bitcoin.com/bank-of-singapore-says-cryptocurrencies-could-replace-gold-as-a-store-of-value-but-unlikely-to-displace-fiat-currencies/
According to a recent report, the San Francisco-based cryptocurrency exchange Coinbase is purportedly planning to sell stock on Nasdaq’s private market ahead of the initial public offering (IPO). Coinbase reportedly notified shareholders that they will receive information pertaining to the private sale this week. Reports Indicate That Coinbase May Sell Shares via the Nasdaq Private […]
https://news.bitcoin.com/crypto-exchange-giant-coinbase-to-sell-shares-privately-ahead-of-public-offering/
Switzerland’s largest bank, UBS, has published guidance for clients about investing in bitcoin. The bank answers some important questions, such as whether one should buy bitcoin and other cryptocurrencies and whether bitcoin can be used to diversify portfolios. ‘Should I buy’ Bitcoin? UBS Answers UBS published a detailed report about bitcoin last week. It answers […]
https://news.bitcoin.com/bitcoin-switzerland-ubs-guidance-btc-investing/
Mad Money host Jim Cramer has provided some investment advice aimed at the latest Powerball jackpot winner of $731.1 million. He recommends putting 5% of the jackpot in bitcoin alongside several other investments, such as gold and real estate. Jim Cramer Says Put 5% of Powerball Jackpot in Bitcoin Someone won a Powerball jackpot worth […]
https://news.bitcoin.com/mad-money-jim-cramer-731m-powerball-jackpot-winner-bitcoin/
Harvard Professor of Economics and former Chief Economist at the International Monetary Fund (IMF) Kenneth Rogoff believes that governments will not allow bitcoin to flourish on a large scale. “The regulation will come in. The government will win,” he said. The professor also discussed the likelihood of a bitcoin bubble. Harvard Professor Warns of Strict […]
https://news.bitcoin.com/harvard-economics-professor-governments-will-not-allow-bitcoin-big-scale/
2021 has been an explosive year for bitcoin as the crypto asset has touched new all-time price highs as cryptocurrencies have seen increased demand. Meanwhile, a number of crypto proponents expect the first exchange-traded fund (ETF) to be approved this year as a number of firms are racing to launch an ETF. On Friday, the […]
https://news.bitcoin.com/crypto-etf-race-heats-up-in-2021-valkyrie-bitcoin-trust-files-to-list-shares-on-nyse/
The ongoing global shortage of chips that are used in the production of bitcoin mining rigs is now causing manufacturing disruptions. According to one report, these disruptions are causing a shortage of rigs on the market and subsequent price increases. Already, the report suggests that the prices of new mining rigs have doubled while second-hand […]
https://news.bitcoin.com/global-chip-shortages-disrupt-bitcoin-mining-rig-production-chinas-dominant-position-as-hash-rate-leader-under-threat/
A class-action lawsuit has been filed against a Nasdaq-listed bitcoin mining company. The suit cites a report claiming that the business is “completely fraudulent,” with nonexistent bitcoin mining operations. Lawsuit Alleges Crypto Firm’s Bitcoin Mining Business Is ‘Completely Fraudulent’ A class-action lawsuit was filed on Wednesday in the Southern District Court of New York against […]
https://news.bitcoin.com/nasdaq-listed-cryptocurrency-firm-sued-defrauding-investors-fake-bitcoin-mining-business/
Indian cryptocurrency exchange Buyucoin has reportedly been hacked and sensitive data of about 325,000 users has reportedly been leaked onto the dark web. According to reports, the leaked data includes personal information, encrypted passwords, user wallet details, order details, bank details, PAN numbers, passport numbers, and deposit histories. Indian Cryptocurrency Exchange Hacked Buyucoin, a Delhi […]
https://news.bitcoin.com/indian-cryptocurrency-exchange-buyucoin-hacked-data-users-leaked/
While the price of bitcoin and numerous cryptocurrencies have jumped in value, a great number of merchants have been willing to accept digital currencies for goods and services. These days a crypto proponent can buy literally anything with their crypto assets and some of these items are very unique and extraordinary. Crypto Spenders Can Build […]
https://news.bitcoin.com/buying-items-and-services-with-bitcoin-a-look-at-crypto-asset-accepting-merchants-in-2021/
While the price of bitcoin has been consolidating just above the $30k handle, onchain data shows that when the price dropped to $28,800, bitcoin whales bought the dip. Statics from Glassnode’s web portal shows the number of addresses with more than 1,000 bitcoin has spiked after hitting the price bottom. The Number of Addresses Holding […]
https://news.bitcoin.com/bitcoin-whales-grow-after-price-bottoms-analyst-says-coins-are-moving-to-very-strong-holders/
Joe Biden’s pick to become the new U.S. Treasury Secretary, Janet Yellen, has clarified her stance on bitcoin and cryptocurrencies. This follows her remarks during a Senate hearing when she said that cryptocurrencies are mostly used for illicit financing. Janet Yellen Clarifies Her Crypto Plans Janet Yellen clarified her position on the regulation of cryptocurrencies […]
https://news.bitcoin.com/janet-yellen-bitcoin-cryptocurrency-regulation/
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