It’s no secret that many relatively new investors in the cryptocurrency markets have seen massive monetary losses that have resulted from the persisting bear market that first began in late-2017 when Bitcoin began falling from its highs of nearly $20,000. The realized losses that resulted from this drop, however, are tax deductible in the United…
The IRS is hot on the trails of cryptocurrency and non-fungible tokens. They see these as fertile grounds for fraud, including tax evasion, market manipulation, and money laundering. Unfortunately, whether it’s a celebrity or not, people are always susceptible to getting into the trap. The popularity of digital assets has created a new challenge for…
By now, most crypto investors know that the United States government has begun to crack down on the crypto industry, and has begun targeting those who have used Bitcoin and other crypto-assets for illicit crime. As part of the efforts, the Internal Revenue Service has also begun targeting crypto-holding American taxpayers, who may not have…
Last year, the crypto community pointed fingers at tax payers liquidating assets in order to cover inflated tax bills due to the substantial gains realized during the 2017 Bitcoin bull run as among the chief reasons the bear market had begun. In 2018, however, the inverse happened, and most cryptocurrency investors suffered massive losses as…
Privacy coin Monero presses on full steam ahead as its daily transaction count reaches all-time highs. Data from bitinfocharts.com shows the daily number of XMR transactions peaked at 20.136k on October 12, 2020. This smashes the previous all-time high of 16.689k daily transactions, achieved less than a month and a half ago. Source: bitinfocharts.com Since…
Este artículo también está disponible en español. The incoming heads of the newly established Department of Government Efficiency (D.O.G.E.) have an ambitious plan of slashing federal agencies’ spending by $2 trillion, locking in its crosshairs several agencies for sweeping budget cuts. Related Reading One of the D.O.G.E. leaders, Tesla CEO Elon Musk, said that he…
The United States tax deadline has came and went, and thanks to overwhelmingly confusing tax laws, crypto and Bitcoin investors are left scratching their heads, with many outright refusing to report their crypto earnings and losses on their annual tax filing. It’s not U.S. taxpayers who are alone in feeling confused by the complex tax…