The US Internal Revenue Service (IRS) issued updated guidance for calculating taxes owed on cryptocurrency holdings yesterday. It’s the organizations first update in five years and it asks more questions than it answers.In short, the IRS has firmed its stance that cryptocurrency should be taxed under the same rules as any other property or capital […]
The U.S. Internal Revenue Service (IRS) has published its first guidance in five years for calculating taxes owed on cryptocurrency holdings.Industry members have been eagerly awaiting the update since May 2019, when IRS Commissioner Charles Rettig said the agency was working on providing fresh guidance. The agency’s 2014 guidance left many questions unanswered, and the […]
New York state’s financial regulator is hiring a specialist with expertise in the field of virtual currencies and blockchain, per a recently published announcement.The Department of Financial Services is looking to hire a Deputy Superintendent in the Research and Innovation Division, with a background in cryptocurrencies, blockchain, distributed ledger technology and other related fields. The […]
An official from the Marshall Islands has published an essay explaining the country’s national cryptocurrency project ahead of the Invest: Asia 2019 conference.The issuance of the Marshallese sovereign (SOV) was discussed in an essay by The Honorable David Paul — Minister In-Assistance to the President and Environment of the Marshall Islands — published by Coindesk […]
Brazil’s central bank has adopted IMF policies refusing the classification of cryptocurrency. The decision to use the guidelines developed by the IMF for bought and sold crypto assets was made on the 26th of August, 2019.The guidelines adopted by the Central Bank of Brazil classify traded cryptocurrencies as financial products. This means that crypto assets […]
This month’s report from the U.S. Commercial Customs Operations Advisory Committee (COAC) reveals that the U.S. government is working on blockchain projects for international trade. One of these projects, on intellectual property rights, is slated for live testing this month.The COAC includes chairs from FedEx, Walmart, and Expeditors International. Walmart’s representative, Barry Baxter, is a […]
A healthcare-focused blockchain firm has settled charges with the U.S. Securities and Exchange Commission (SEC) over its 2017 ICO.The SEC said on Monday that New England-based SimplyVital Health, Inc. raised around $6.3 million in ether (ETH) via a pre-sale of its HLTH tokens to fund a touted “healthcare-related blockchain ecosystem” called Health Nexus.The pre-sale was […]
Cryptocurrency trading is simply the buying, selling, and exchange of crypto assets in the hopes of profiting from the price volatility and arbitrage opportunities in the market. The fact that cryptocurrencies deliver exponential gains (during bull runs), which dwarfs the performance of other assets such as stocks is one of the reasons cryptocurrency trading is […]
The CEO of cryptocurrency trading and investment firm Circle thinks the United States will create appropriate regulation as more companies move overseas.Speaking to Bloomberg in an interview on July 31, Jeremy Allaire highlighted ongoing tendencies for crypto market participants to move abroad as a factor motivating future regulatory policy in Washington. Allaire’s comments come in the […]
Blockchain payment network Ripple signed an open letter to United States regulators on July 28 ahead of fresh hearings on cryptocurrency regulation this week. In the wake of mixed feelings from Congress on both Facebook’s Libra digital currency and crypto more broadly, Ripple CEO Brad Garlinghouse appealed to Washington to be lenient in its future approach.The […]
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