Get a passport, pay crypto, live tax-free?
Most transfers of cryptocurrency are taxable, unless the transfer is qualified as a gift or a charitable contribution. Way back in 2014, the United States Internal Revenue Service (IRS) ruled that cryptocurrency is property in Notice 2014-21. That classification as property has some big tax consequences accentuated by wild price swings. Buying and selling crypto can trigger gain or loss and be taxable. Yes, buying something using crypto — a house, a car, a new suit — can trigger taxes. Even paying taxes in crypto can trigger taxes.If you owe $5,000 in taxes, you could pay the $5,000 in....
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Anti-government hackers have attempted to sell what they say is an NFT of Belarus President Alexander Lukashenko’s passport. The members of the ‘Belarusian Cyber Partisans’ collective claim to have obtained the passport data of all of the country’s citizens. Cyber Guerrillas From Belarus Try to List NFT Passport Collection on Opensea A hacking group known as ‘Belarusian Cyber Partisans’ have bragged about gaining access to a government database storing the passport details of every citizen of Belarus, including high-ranking....
Ellis' World Citizen Passport Example. In a sign of the things to come, Bitcoin enthusiast Christopher Ellis has developed the world's first crypto-passport built on the blockchain technology. Ellis has created software that enables anyone create a passport based on PGP encryption and the bitcoin blockchain. PGP, which stands for Pretty Good Privacy, is a data encryption program that provides cryptographic privacy and authentication for data communication including texts, emails, files, directories and even whole disk partitions. The crypto-passport project creates a mathematically....
American Express has rolled out a new way for cardholders to collect travel memories: blockchain-backed passport stamps that live on a public ledger. The stamps are meant to be keepsakes, not investments, and they are tied to in-person spending while traveling. Related Reading: Blockchain Enters The City: London Stock Exchange Launches Private Funds Platform American […]
This guide explains how to use a Passport cold storage bitcoin wallet, from unboxing to setting up multisig security.
Arcx has launched a new version of its “DeFi Passport,” Sapphire, promising the pseudonymous on-chain credit check will enable new decentralized finance products. Decentralized finance (DeFi) protocol Arcx has announced the launch of Sapphire v3, a DeFi passport allowing crypto users to pseudonymously build and verify their reputation on-chain.Announced June 2, the DeFi passport will score users on a scale between 0 and 1,000, with Arcx advancing that the passport “incentivizes reputation-building and curates on-chain identity into DeFi.”In the absence of a DeFi passport, Arcx asserts that....