News
The IRS plans to interview family and friends, search through social media posts, and issue subpoenas to ensure people pay taxes on their Bitcoin, according to a presentation given to the IRS Criminal Investigation... 4 min read →
Taxes, in and of themselves, can be complex, and throwing your crypto gains on top of it makes things even more challenging. However, that doesn’t mean that there aren’t ways around paying taxes on... 4 min read →
Some traders are using cryptocurrency as collateral to secure loans, allowing them to keep their bitcoin and get cash while avoiding capital gains tax. Due to the popularity of the option, the crypto loan... 3 min read →
Former vice president of payments at Starbucks, Maria Smith, promised that Starbucks would play a “pivotal role in developing practical, trusted and regulated applications for consumers” to pay for coffee with bitcoin. However, tax... 3 min read →
Stablecoins are the latest innovation to emerge over the past year and have the potential to revolutionize not only virtual currency markets but to also become a new mechanism for worldwide commerce. Will stablecoins... 5 min read →
Delinquent federal and state tax filings or unreported 2017 or prior tax years’ transactions may force taxpayers dealing in crypto to liquidate significant positions in cryptocurrencies at lower values to pay outstanding tax liabilities... 5 min read →
The battle between tax authorities and cryptocurrency users took a turn in favor of the tax collectors. This month, Denmark’s tax authority won permission to start collecting private user information related to cryptocurrency trading.... 2 min read →
Major U.S. furniture retailer Overstock announced that it will pay taxes in bitcoin for the Ohio-based portion of its business under the state’s novel taxpayer platform, Ohiocrypto.com. Leading Crypto Adoption The 34th largest U.S. state... 2 min read →
Two congressmen are introducing a bill that would exclude digital currencies from securities classification and substantially improve the tax treatment for cryptocurrencies. The new definition could benefit current cryptocurrency projects—such as Ripple’s XRP—and allow... 5 min read →
The cryptocurrency market saw a dramatic fallout throughout 2018. With Bitcoin falling from a value of $17,000 per coin in January of 2018 to around $3,500, many traders incurred losses since the start of... 4 min read →
In France, several proposed changes to the laws governing the tax treatment of cryptocurrencies were rejected in the parliament on December 17th. The proposals would have made the tax treatment for transacting in cryptocurrencies... 3 min read →
If you bought Bitcoin and other cryptos when prices were high then there’s a silver lining around the gray state of the crypto markets now: any losses you take this year could place you... 5 min read →
Beginning Nov. 26, Ohio will begin accepting Bitcoin payments for twenty-three kinds of business taxes. The state will become the first in the United States–and one of the first governments in the world–to accept... 2 min read →
In a letter sent from the House Ways and Means Committee on Wednesday, U.S. lawmakers are calling on the Internal Revenue Service (IRS) to issue more specific guidelines for taxes on digital assets. The... 2 min read →
The US Internal Revenue Service has launched an international joint task force focusing on cryptocurrencies in order to investigate crypto-related tax evasion and money laundering. Announced on Monday, the Joint Chiefs of Global Tax... 2 min read →
The April 17th tax deadline is fast approaching. The following guide contains instructions on calculating taxes on your cryptocurrency investments. Cryptocurrencies outperformed nearly every other traditional asset. Since the beginning of the year, the... 6 min read →
The April 17th tax deadline is approaching, and miners are no exception. This article dispels some of the confusion surrounding cryptocurrency mining and taxes. Taxes on Cryptocurrency Mining Successfully mining cryptocurrency triggers a taxable... 5 min read →
Taxation is currently a hot topic in the cryptocurrency ecosystem, with market leading cryptocurrency broker Coinbase announcing that it has been legally obligated to turn over information on approximately 13,000 users to the United... 4 min read →
2017 was the year that digital currencies became popular and profitable. It was an exciting time as each day brought new and extravagant price hikes that brought the crypto market cap from less than... 3 min read →
