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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/
While reserve-based crypto assets like gold tokens and stablecoins have been able to weather the crypto market carnage over the last two weeks, rebase tokens like wonderland (TIME), and Olympus (OHM) have seen massive losses. Wonderland is down more than 96% since the crypto asset’s all-time high (ATH), and OHM is down over 95% since […]
https://news.bitcoin.com/rebase-market-carnage-time-slips-61-wonderland-admin-allegedly-co-founded-quadrigacx/
A new bill introduced in the U.S. has a provision that “would essentially give the Treasury Secretary unchecked and unilateral power” to ban cryptocurrency transactions, warned crypto advocacy organization Coin Center. Treasury Secretary Janet Yellen will be able to prohibit any crypto transactions “without any process, rulemaking, or limitation on the duration of the prohibition.” […]
https://news.bitcoin.com/us-bill-giving-treasury-secretary-unchecked-unilateral-power-to-ban-crypto-transactions/
PRESS RELEASE. Australian asset manager Mark Carnegie and a European Family Office have recently taken stakes in the company, totalling around $30 million, as Chrono’s ecosystem soared in activity and value over the course of 2021. The growth of the crypto market and blockchain sector has been nothing short of sensational over the course of […]
https://news.bitcoin.com/chrono․tech-attracts-30-million-investment/
Sunacrip, the Venezuelan cryptocurrency watchdog, has suspended the operating licenses of two exchanges for lack of compliance with current regulations. The announcement was made by Joselit Ramirez, superintendent of Sunacrip, who also mentioned the exchanges that are approved by the institution, leaving some big names like Binance off of the list. Sunacrip Tightens Compliance Requirements […]
https://news.bitcoin.com/sunacrip-revokes-licenses-of-two-cryptocurrency-exchanges-in-venezuela/
A bitcoin seller has been sentenced to one year and one day in jail for defrauding customers, according to a notice by the U.S. Department of Justice (DOJ). The man took money from customers but did not provide them with the agreed-upon bitcoin. Fraudulent Bitcoin Seller Going to Jail The U.S. Department of Justice (DOJ) […]
https://news.bitcoin.com/us-sentences-bitcoin-seller-to-1-year-in-jail-defrauding-investors/
Equities, crypto markets, and precious metals did well during the early morning trading sessions on Wednesday, just before the U.S. central bank wrapped up its Federal Open Market Committee (FOMC) meeting. While the Fed said in a statement that the benchmark interest rate would rise soon, the central bank’s lead Jerome Powell said the committee […]
https://news.bitcoin.com/precious-metals-cryptocurrencies-stock-markets-falter-following-powells-rate-hike-statements/
The main utility company in Irkutsk is looking to collect almost $800,000 from owners of crypto farms that have allegedly caused a spike in electricity consumption in the Russian region. The supplier accuses the miners of burning cheap household electricity in what is, in fact, a business activity. Power Utility Takes Crypto Miners to Court […]
https://news.bitcoin.com/utility-seeks-800000-from-russians-mining-crypto-with-cheap-power/
PRESS RELEASE. Not too long ago, Dvision Network had successfully initiated their LAND sale, and now it is time for the second sale to commence as the first month of 2022 nears its end. On January 27th, 11:00 AM UTC, the Polygon Ecosystem will witness the Dvision’s second LAND Sale via Dvision Marketplace and the […]
https://news.bitcoin.com/dvision-network-2nd-land-sale-to-be-held-on-opensea-and-their-native-marketplace/
The leader of the Nigerian blockchain association, Senator Ihenyen, has implored the country’s lawmakers — currently pushing for the securities law to be revamped — to consider crafting laws that regulate the crypto industry. Proposed Law Does Not Expressly Mention Cryptocurrencies As Nigerian lawmakers debate a bill that proposes a ten-year jail term for operators […]
https://news.bitcoin.com/nigerian-lawmakers-urged-to-consider-regulating-crypto-industry-after-proposal-to-jail-ponzi-operators/
Elon Musk’s electric car company, Tesla, did not sell any bitcoin in the fourth quarter, according to the company’s latest financial statement. Tesla is holding bitcoin worth $1.26 billion. The company still has not resumed accepting bitcoin payments but now accepts the meme cryptocurrency dogecoin (DOGE) for some merchandise. Tesla Did Not Sell Bitcoin in […]
https://news.bitcoin.com/teslas-financial-statement-bitcoin-worth-1-26-billion/
Ripple has bought back shares from its Series C funding round, which raised the company’s valuation to $15 billion, according to CEO Brad Garlinghouse. He added that despite the lawsuit by the U.S. Securities and Exchange Commission (SEC) over the status of XRP cryptocurrency, Ripple had the best year on record. Ripple’s $15 Billion Valuation […]
https://news.bitcoin.com/ripple-15-billion-valuation-ceo-says-financial-position-is-strongest-ever-despite-sec-lawsuit-over-xrp/
The number of global crypto owners is expected to exceed one billion by the end of the year, according to a report by Crypto.com. “Nations can no longer afford to ignore the growing push to crypto by the public. We may in many cases expect a friendlier stance towards the crypto industry,” the company said. […]
https://news.bitcoin.com/global-crypto-owners-predicted-to-surpass-1-billion-this-year/
ETH in Mellieha is the latest in a long line of NFT experiments that aim to challenge traditional values and concepts of art and ownership. This particular project is being advised by Mamo TCV Advocates, one of Malta’s leading law firms. At the core of ETH in Mellieha is an Oil Painting that No Longer […]
https://news.bitcoin.com/nft-eth-in-mellieha-set-to-go-on-auction-for-legal-rights-to-number-plate/
The digital currency asset manager Valkyrie has applied for an exchange-traded fund (ETF) with the U.S. Securities and Exchange Commission (SEC). The fund plans invest at least 80% of its net assets into firms that derive at least 50% of their revenue from the bitcoin mining industry. Valkyrie’s Proposed ETF Targets the Bitcoin Mining Industry […]
https://news.bitcoin.com/valkyrie-files-for-etf-that-invests-in-firms-that-derive-50-revenue-from-bitcoin-mining-industry/
There’s been a lot of action in the world of cryptocurrencies over the last 12 months and a myriad of metrics have changed. A recent report from forexsuggest.com shows that dogecoin fees saw the largest increase since January 1, 2021, jumping 4,230% in a year. Ethereum’s transaction fees were the most expensive at the end […]
https://news.bitcoin.com/study-shows-dogecoin-xrp-saw-largest-network-fee-increases-last-year/
Ahead of Wednesday’s FOMC meeting, cryptocurrency markets were once again trading higher, with polygon (MATIC) being one of today’s biggest gainers. Despite the top 20 mainly trending upward, some in this list were mainly lower during the course of the session. Biggest Gainers Polygon (MATIC), which was one of the biggest gainers within the top […]
https://news.bitcoin.com/technical-analysis-cosmos-decline-continues-as-polygon-surges/
On January 26, the crypto asset exchange FTX US revealed it raised $400 million in a Series A financing round stemming from investors like Softbank, Paradigm, and Multicoin Capital. The Series A investment in FTX US brings the U.S.-based trading platform’s post valuation to $8 billion. FTX US Reveals $400 Million Capital Raise, Firm Aims […]
https://news.bitcoin.com/ftx-us-raises-400-million-in-series-a-trading-platforms-valuation-now-8-billion/
Meta, formerly Facebook, is reportedly in talks with investment bankers to sell its assets in the cryptocurrency project Diem, formerly Libra. The diem USD stablecoin was supposed to be issued by Silvergate Bank but it failed to get regulatory approval. Meta Reportedly Seeking Buyers for Diem Crypto Project Mark Zuckerberg’s Meta, formerly Facebook, is trying […]
https://news.bitcoin.com/mark-zuckerbergs-meta-sell-assets-crypto-project-diem/
Days after falling to a 6-month low, bitcoin rose for a second consecutive session, as prices slowly approached its key level of $40,000. Today’s gain in BTC comes as the global crypto market cap was 4.7% higher from yesterday’s session, as of writing. Bitcoin The world’s largest cryptocurrency hit an intraday high of $38,415.90 on […]
https://news.bitcoin.com/bitcoin-ethereum-technical-analysis-eth-nears-10-gain-btc-inches-toward-40000/
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