The Internal Revenue Service announced today that the Voluntary Disclosure Practice Preclearance Request and Application has been revised. The IRS’s Voluntary Disclosure Practice has been around for years, and it is the best way for taxpayers who have potential criminal exposure for tax compliance issues to come forward. According to the IRS, “The updates reflect … Read more
ROCHESTER, NY (WROC) — The Super Bowl this year was filled with two things, as usual: football, and commercials. But the content of those commercials was something unusual to most, as much of it featured a preponderance of ads for cryptocurrency. Whether it was a bouncing QR for Coinbase — a digital platform that lets … Read more
The recent guidance provided by the US Treasury Department on transaction reporting by crypto companies is shining some light on staking — one of the least understood but hottest corners of the digital-asset world. Treasury indicated on Friday that “stakers” would be spared from forthcoming rules that are more targeted for brokers rather than investors … Read more
NEW YORK: Investors are bracing for more gyrations in bitcoin and other cryptocurrencies, as worries over a hawkish Federal Reserve threaten to squelch risk appetite across markets. The volatility traditionally associated with cryptocurrencies has been on full display in recent weeks. Bitcoin, the largest cryptocurrency, is up by around 33% since Jan. 24 and recently … Read more
Bitcoin has come a long way since someone or a group of someones under the name Satoshi Nakamoto wrote a paper in 2008 about how to harness computing power around the world to create a digital currency that can’t be double-spent. Love cryptocurrencies or hate the very idea of them, they’re becoming more mainstream by … Read more
The Internal Revenue Service (IRS) has been more closely monitoring digital currencies, which means that those who are making money as crypto investors will be expected to declare any profits. Additionally, it will now be possible for tax filers to receive their tax returns in cryptocurrency. Earlier this month, Coinbase—one of the largest cryptocurrency exchange … Read more
Scammers are exploiting the popularity of cryptocurrency by setting up fake apps to steal millions of thousands of dollars from would-be Australian crypto investors. Key points: The Australian Tax Office estimates up to 600,000 Australians have invested in “crypto-assets” Experts say scammers are using the popularity of crypto, and work too fast for tech companies … Read more
Dallas, Texas, Feb. 08, 2022 (GLOBE NEWSWIRE) — Vaycaychella, Inc. (OTC Pink: VAYK) in a follow up to the recently announced letter of intent (LOI) agreement to acquire Definancial, Inc., a technology firm that has developed a proprietary cryptocurrency exchange technology solution, today announced the acquisition is expected to close within the next 30 days. … Read more
By Katherine Greifeld and Vildana Hajric To cryptocurrency true believers, Bitcoin is the ultimate store of value, the most solid hedge against the rampant inflation manufactured by reckless central banks and their money-printing. To skeptics, the crypto world as a whole is a mirage whose massive run-up past $2 trillion was simply the speculative byproduct … Read more
Photo: ozan kose/Agence France-Presse/Getty Images The cryptocurrency lobby plans to spend tens of millions of dollars this year helping its largest holders convert their holdings into actual money. They are looking for a way to spin their crypto straw into gold. Lawmakers and regulators should ignore the hype. Urging America to “lead in innovation,” crypto … Read more