IRS To View Bitcoin Exchange Records, “Taxman” Is Coming “For Crypto”
Judgement day could be coming for early crypto investors who thought that the government had no chance in tracing Bitcoin and other blockchain transactions. According to a Senior Washington Correspondent for CNBC, the “taxman” is coming “for crypto” and the IRS has been authorized to serve a request to review a swath of records across […]
Related News
Uniswap’s governance token has become the first DeFi token to rank among the ten-largest crypto assets by capitalization. The native token of leading decentralized exchange Uniswap has surged by nearly 50% this week, ranking UNI as the eighth-largest crypto asset with a $17.7 billion market cap as speculation builds for the exchange’s coming V3 overhaul.Messari currently ranks UNI as the -second-largest Ethereum-based asset by market cap behind Tether, beating out the Chainlink by nearly 50% of its capitalization.UNI broke into the top 10 on March 5, becoming the first native token of a....
The U.S. Internal Revenue Service (IRS) is coming under increasing scrutiny following its request to view the transaction records of Coinbase. The focus on Coinbase, which the exchange described as “indiscriminate” in breadth, is poignant, coming after a treasury audit highlighted a range of failures by the IRS. As the exchange promises to go to court over the request, experts are joining in the debate in a bid to demonstrate the need for more realistic regulatory management surrounding taxation of the everyday cryptocurrency user. IRS shows users still bear responsibility. Perry Woodin,....
Recent geopolitical developments have upended the ethics and self-image of crypto. What does that mean for its future? Last month, cultural critic Alison P. Davis published an article in The Cut titled “A Vibe Shift is Coming. Will Any of Us Survive It?” The “vibe shift” Davis was referring to had nothing to do with crypto. She was referring to a sea change in pop culture and social trends, particularly in view of GenZ’s ongoing ascendance into trendsetting and cultural relevance. Nevertheless, her positioning caught my eye because she aptly put her finger on something crucial that I’ve....
Crypto is about to split in two. On the one side: KYC-compliant digital currencies. On the other: money "Legos" self-organized in DAO structures.
Some customers appear to have exploited the exchange’s database issues for person gain. A database issue has led to prolonged downtime for the Crypto.com exchange. According to a series of tweets published by platform’s CEO, Kris Marszalek, the exact cause of these issues remains unknown. Marszalek did confirm, however, that some users had taken advantage of the situation by manipulating the ETH/USDT price prior to the outage.These users locked in gains by selling other crypto “en masse”, allowing them to conduct what the CEO referred to as “illegitimate trades.” After discovering the....