BeInCrypto: Tax Hysteria Over Cryptocurrencies Likely Overblown, IRS Audits Drop to Lowest Level in Decades
Thursday, 09 January 2020 04:42
This past summer, the IRS caused waves when it announced that it would be sending some 10,000 notices to cryptocurrency traders. However, a recent report finds that due to cuts, IRS audits have plummeted to their lowest level in at least four decades. Hysteria over the IRS…
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The Block: Bithumb to invest over $8M in local ‘regulation-free’ zone for blockchain development
Thursday, 09 January 2020 09:20
South Korea’s largest cryptocurrency exchange Bithumb is set to invest 10 billion won (~$8.6 million) in Busan city’s “regulation-free” zone for blockchain development. The country’s Ministry of SMEs and Startups announced the news on Thursday, saying that Bithumb will invest via its subsidiary GCX Alliance. Bithumb and…
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CoinSpice: World Law Enforcement Tax: Kraken Sees 49% Increase in Global Compliance Requests
Tuesday, 07 January 2020 16:51
TL;DR: US cryptocurrency exchange Kraken published its second annual snapshot of law enforcement compliance requests. “Team America still ahead with 61% of total requests, down from 66% last year,” the company explained. “Other geos gaining fast. Trend is obvious. Costs are increasing, even in a relatively flat…
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CoinTelegraph: Tax Compliance Firm TaxBit Raises $5M to Improve Crypto Tax Reporting
Monday, 06 January 2020 19:59
TaxBit, a crypto-oriented tax compliance firm, has raised $5 million in a seed round that saw participation from Winklevoss Capital
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bitcoin.com: Turkey Prepares to Increase Oversight in the Crypto Space
Monday, 06 January 2020 22:55
Turkish authorities, alarmed by the spread of cryptocurrencies in the country, are reportedly ramping up efforts to introduce greater oversight into the sector. Local media revealed that regulators are under pressure to increase supervision in 2020 because of the growing popularity of decentralized crypto assets among Turks.…
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The Daily Hodl: Bill Gates Rips Inequality and His Multi Billion-Dollar Fortune
Tuesday, 07 January 2020 04:54
Microsoft founder Bill Gates, the world’s second-wealthiest person with an estimated fortune of $108 billion, is calling out the the “gross inequities” that separate the privileged from the underprivileged. In a new op-ed, Gates, who is often asked about his tax contributions, says he’s “more optimistic than…
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bitcoin.com: Problems Escalate in Venezuela as Millions Rush to Spend Petros
Tuesday, 07 January 2020 11:00
According to the Venezuelan government, millions of families have used the petro, the country’s national digital currency, to pay for goods and services. As shoppers rush to spend their coins, merchants are reportedly struggling, effectively forced to sell goods at a deep discount. At least one merchant…
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bitcoin.com: Regs Roundup: SEC Actions, Crypto Tax-Free in Korea, New Chinese Laws
Tuesday, 07 January 2020 14:00
In this roundup, we cover several crypto-related actions by the U.S. Securities and Exchange Commission (SEC) and the New York regulator’s crypto job posting. We also cover new Chinese laws, South Korea’s tax clarification, India’s blockchain education, the IMF working with the Philippines’ central bank, as well…
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The Daily Hodl: Bitcoin Millionaires Tyler and Cameron Winklevoss Back Cryptocurrency Tax Startup
Tuesday, 07 January 2020 15:15
Winklevoss Capital, the venture company spearheaded by Bitcoin moguls Cameron and Tyler Winklevoss, is joining a $5 million seed funding round for Taxbit, a crypto-focused tax reporting firm. Dragonfly Capital Partners, Global Founders Capital, Valar Ventures and others also participated in the round, according to a January…
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CoinSpice: Tensions Mount Over Retaliation to French Digital Services Tax: Le Maire Warns US Administration
Monday, 06 January 2020 15:50
TL;DR: During a recent radio interview, and later in a formal letter, French economic minister Bruno Le Maire warned Trump administration officials about threats to retaliate against the French Digital Services Tax (DST). Last summer, the government’s DST revealed a 3% tax on digital businesses earning more…
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