How to navigate cryptocurrency tax implications amidst the CPA shortage
High demand for CPAs has left many to fend for themselves when it comes time to figure out the complex tax landscape marked by virtual currencies. Cryptocurrency is a hot topic worldwide, especially with prices of Bitcoin (BTC), Ethereum (ETH) and other cryptocurrencies hitting higher thresholds and resulting in another banner year for investors. While the earnings look good on paper, one factor is often left to consider –– that is, crypto taxes.It is not uncommon for traders to take advantage of the constant fluctuations, buy the dip, sell the uptrend, and repeat it frequently.....
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What does it mean to be a “buyer of last resort” and how can Bitcoiners navigate the volatility of the bitcoin markets now and in the coming years?
Bitcoin exchange reserves are continuously plummeting as analysts pinpoint the trend to a potential shortage of sellers. Bitcoin (BTC) exchange reserves are continuously plummeting as analysts pinpoint the trend to a shortage of sellers. Since the March crash, the reserves on exchanges rapidly fell from 2,950,000 BTC to 2,700,000 BTC.Within merely seven months, a 250,000 BTC fall in exchange reserves signifies a $2.85 billion decline. Behind the steep trend could be two major factors: a decline in sellers and lower trust toward exchanges.Bitcoin reserves on exchanges. Source: GlassnodeIs....
In the race to adopt Blockchain technology and cut costs, financial firms have to deal with multiple challenges. Japanese financial firms have been hit by the most basic of them of all – a shortage of technical experts. Japan – regulation a positive. The Japanese government has been active in regulating cryptocurrency-based companies. A new law has been passed regulating Bitcoin exchanges, after the Mt Gox debacle. The Japanese Government passed a bill in May 2016, which recognized that virtual currencies have a function similar to money. Japan has also eased regulations, now allowing....
A shortage of semiconductor production is at the forefront of geopolitics and it’s inevitable that this issue’s relation to Bitcoin mining will be as well.
Bitcoin mining rig manufacturers are dealing with a semiconductor supply crunch according to regional reports stemming from China. There’s been a global semiconductor supply shortage and it’s affecting nearly every type of business in the supply chain that manufactures cars, PCs, laptops, smartphones, and cryptocurrency mining devices. Moreover, the recent shortage has invoked the demand for second-hand and older generation mining rigs. Semiconductor Shortage Complicates Mining Rig Manufacturing Currently, the world is dealing with a semiconductor supply crunch which has been....