Tag: irs

Jul 16 2021

Why It Might Be Too Late for Binance to Avoid Regulatory Action

Jul 16 2021 Published at Unchained Podcast under tags  2021 binance bitmex cftc crypto

Christine Parker, partner at Reed Smith, summarizes the slew of regulatory headlines facing Binance and how such scrutiny may affect the exchange going forward. Show highlights: which countries are investigating Binance why it has been...

Jun 09 2021

This Company Is Raising $500M — Three Months After Its Last Round

Jun 09 2021 Published at Unchained Podcast under tags  bitcoin blockfi defi el salvador irs

June 9, 2021 / Unchained Daily / Laura Shin Daily Bits ✍️✍️✍️ The IRS has requested $32M in additional funding to...

May 28 2021

Rep. Tom Emmer, One of the Most Active Crypto Congress Members, on Taxes and DeFi

May 28 2021 Published at Unchained Podcast under tags  2021 blockchain crypto defi fatf

House Representative Tom Emmer, of Minnesota, is one of the most active voice for crypto and blockchain in the US government. In this episode, he discusses: what book made Tom fall down the crypto rabbit hole why Tom believes the Financial...

May 27 2021

Did You Buy the Dip?

May 27, 2021 / Unchained Daily / Laura Shin Daily Bits ✍️✍️✍️ SEC Commissioner Gary Gensler...

May 21 2021

Cryptocurrency Is “Here To Stay”

May 21, 2021 / Unchained Daily / Laura Shin Welcome to Unchained Daily ICYMI,...

May 20 2021

U.S. Wants To Require That Large Bitcoin Transactions Are Reported To IRS

A tax enforcement proposal from the Biden administration may compel businesses to report bitcoin transactions exceeding $10,000 to the IRS.A tax enforcement proposal from the Biden administration would compel businesses accepting bitcoin transactions of more than $10,000 to report them to the Internal Revenue Service (IRS).“Cryptocurrency already poses a significant detection problem by facilitating illegal...

US Treasury sets $10K Crypto Limit for Exchanges to Report to IRS

May 20 2021 Published at Coingape under tags  btcbrl btcbusd btcdai btceur btcgbp

The US Treasury Department today announced a major clampdown on crypto transactions in the US as it set an upper limit of $10,000 to be reported to the Internal Revenue Services (IRS). The department said that the...

May 17 2021

Do I Have To Pay Taxes On Bitcoin?

May 17 2021 Published at Bitcoin Magazine under tags  culture irs taxeable events taxes

What is the current outlook on bitcoin taxes, and what might the future hold as the network and asset grows?While many joke about that unfortunate boating accident that magically makes all bitcoin disappear, the vast majority of us know that as the popular meme goes, “One does not simply not pay taxes.” This article is geared toward the U.S. tax code, as...

May 15 2021

Crypto Exchange Binance Under Investigation by Department of Justice and IRS

Crypto exchange giant Binance is allegedly under investigation by the U.S. Internal Revenue Service (IRS), as well as the Department of Justice (DOJ) for money laundering and tax evasion. BREAKING: Binance, the world's biggest crypto exchange, is under investigation by the Justice Department and IRS...

May 14 2021

Binance Collaborates with IRS & DOJ Over Illegal Activity on the Exchange

May 14 2021 Published at Blockonomi under tags  binance doj irs regulation

Binance, one of the most important cryptocurrency exchanges in the world, could be facing an investigation by both the United States Justice Department (DOJ) and Internal Revenue Service (IRS) according to Bloomberg. The investigation would be the result of the US efforts to stop illegal activities that have found a way to take advantage of [...] The post Binance Collaborates with IRS &...

May 13 2021

Report: Major Bitcoin Exchange Binance Investigated By U.S. Authorities

The world’s largest bitcoin exchange, Binance, is reportedly being investigated by U.S. authorities.The world’s largest cryptocurrency exchange, Binance, is under investigation by the U.S. Department of Justice and Internal Revenue Service (IRS), according to a report from...

FUD Alert: US Federal Agencies Question Binance, No Accusations of Wrong Doing

May 13 2021 Published at Coingape under tags  binance exchange bnbbkrw bnbbtc bnbbusd bnbeth

Binance, the world's leading cryptocurrency exchange is reportedly facing an investigation from Justice Department and IRS according to a...

IRS Says It Would Seize Bitcoin To Settle Unpaid Taxes

May 13 2021 Published at Bitcoin Magazine under tags  culture irs taxes

In comments at a virtual conference, an IRS counsel indicated the agency would seize virtual currency like bitcoin to satisfy tax collection.According to comments made at a virtual conference this week by U.S. Internal Revenue Service (IRS) deputy associate chief counsel Robert Wearing, the agency would seize cryptocurrency assets like bitcoin from individuals it deems to be in violation of tax requirements....

May 07 2021

$DOGE Up 13,000% YTD

PLUS: Buy bitcoin right from your bank It was a frothy week in crypto as Dogecoin made it two-thirds of the way to a dollar, and Ethereum Classic raced past $100 per coin in a 280% gain in just seven days, perhaps riding the momentum of ether, which also hit an ATH at $3,500+. The market was not all froth. Underneath the head-shaking...

May 06 2021

IRS Authorized To Summon Kraken For User Information

May 06 2021 Published at Bitcoin Magazine under tags  business irs kraken regulation taxes

The IRS has been authorized to seek information on users of the cryptocurrency exchange Kraken, to ensure they are paying their taxes.A court in Northern California has empowered the IRS to serve a “John Doe summons” to Payward Ventures Inc., which does business in the U.S. as...

IRS To View Bitcoin Exchange Records, “Taxman” Is Coming “For Crypto”

May 06 2021 Published at Bitcoinist.com under tags  bitcoin btc btcusd btcusdt 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...

United States Government Demands Kraken Provides User Information to IRS

May 06 2021 Published at Blockonomi under tags  irs kraken regulation

The United States Department of Justice has granted the country’s Internal Revenue Service (IRS) permission to submit a request for transaction information on users who have transacted more than $20k during the 2016 to 2020 period. The requests, commonly known as a “John Doe summons,” are designed to find information about any US taxpayer who [...] The post United States Government Demands Kraken...

Apr 16 2021

A $115K Bitcoin by August?

PLUS: Everything you want to know about COIN Happy Coinbase direct listing week! If you still need more Coinbase content, I would recommend clicking...

Apr 15 2021

Bought NFTs? There’s A Tax For That, And Other Ways The IRS Is Eyeing Crypto

Apr 15 2021 Published at Bitcoinist.com under tags  bitcoin btc btcusd btcusdt crypto

NFTs volume is dropping after an initial bubble-like storm of interest and millions pouring into the emerging digital goods market. But it could be because crypto investors are realizing as they wrap up last year's taxes – extended to May 17 in the United States – that buying such tokens with Ethereum results in a taxable transaction. Here's some of the tax pitfalls...

Apr 02 2021

IRS Summons Of Circle And Poloniex User Data Authorized

Apr 02 2021 Published at Bitcoin Magazine under tags  business circle exchanges irs poloniex

An IRS summons compelling Circle to provide data on customers who made significant cryptocurrency transactions has been authorized.According to an April 1, 2021, release from the U.S. Department of Justice, a federal court in Manhattan has entered an order authorizing the IRS to...

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