IRS authorized to access information on Circle's crypto traders to nab tax ch...
The Internal Revenue Services will seek information from Circle on all U.S. taxpayers who traded at least $20,000 worth of crypto between 2016 and 2020. A U.S. federal court has granted authorization to the Internal Revenue Service, or IRS, to serve a John Doe summons to fintech firm Circle seeking all information on U.S. taxpayers who traded at least $20,000 worth of crypto assets on its platforms between 2016 and 2020.The summons will apply to Circle Internet Financial Inc. including all “predecessors, subsidiaries, divisions, and affiliates, including Poloniex LLC.”According to the....
Related News
An IRS summons compelling Circle to provide data on customers who made significant cryptocurrency transactions has been authorized.
The IRS has been authorized to seek information on users of the cryptocurrency exchange Kraken, to ensure they are paying their taxes.
No doubt, Circle Internet Financial has been a huge topic of discussion in the bitcoin community. And over the past few months, they've been slowly allowing individuals to gain access to the platform with a $10 freebie to boot. Now, a visit to the Circle homepage shows that users may not have to wait an exorbitant amount of time to receive their invitation via email. That's because a sign-up form appears to be open, allowing for immediate access to Circle's system. It's a massive step forward in terms of bringing their product to the market. As you can see in the screen shot above, the....
The folks over at bitcoin exchange Vault of Satoshi this week announced that a private beta has started for their bill payment and pre-authorized debit services - available only to customers in Canada. While this is only a testing phase, it's an important move for the company, who is now joining the likes of Bylls, which was just announced this week. Users who apply to be a part of the beta are required to submit two forms of Canadian-issued identification, proof of residency, employer information, and bank account information. Vault of Satoshi has set a limit of $3,000 for bill payments.....
Authors Note: A few users are claiming that the information given by Circle regarding their ability to accept prepaid VISA gift cards may not be valid for all VISA gift cards. Keep this information in mind before deciding to make a purchase decision, and CCN encourages anyone with problems to email Circle's customer support. Circle is a hot-button topic on the tongues of all bitcoin users, some even considering the service to be the "killer app" spurring bitcoin adoption. With a well-designed interface and an ease of use process, Circle does seem to cut out all the problems bitcoin users....