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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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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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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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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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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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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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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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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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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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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