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š“šØUS Treasury finalizes new crypto tax reporting rulesš“šØ
The U.S. Treasury Department finalized a rule on Friday requiring cryptocurrency brokers, including exchanges and payment processors, to report new information on users' sales and exchanges of digital assets to the Internal Revenue Service.
The new requirements aim to crack down on crypto users who may be failing to pay their taxes, and stem from the $1 trillion bipartisan 2021 Infrastructure Investment and Jobs Act.
At the time the bill was passed, it was estimated that the new rules could bring in close to $28 billion over a decade.
The rule, which would be phased in starting next year for the 2026 tax filing season, align the tax requirements for cryptocurrencies with existing tax reporting requirements for brokers for other financial instruments, such as bonds and stocks, Treasury said.
The final rule was modified from Treasury's original proposal in order to limit some burdens on brokers and to phase in the new requirements in stages, Treasury officials said.
It also includes a $10,000 threshold for reporting on transactions involving stablecoins, a type of crypto token typically pegged to an asset like the U.S. dollar.$BTC
The U.S. Treasury Department finalized a rule on Friday requiring cryptocurrency brokers, including exchanges and payment processors, to report new information on users' sales and exchanges of digital assets to the Internal Revenue Service.
The new requirements aim to crack down on crypto users who may be failing to pay their taxes, and stem from the $1 trillion bipartisan 2021 Infrastructure Investment and Jobs Act.
At the time the bill was passed, it was estimated that the new rules could bring in close to $28 billion over a decade.
The rule, which would be phased in starting next year for the 2026 tax filing season, align the tax requirements for cryptocurrencies with existing tax reporting requirements for brokers for other financial instruments, such as bonds and stocks, Treasury said.
The final rule was modified from Treasury's original proposal in order to limit some burdens on brokers and to phase in the new requirements in stages, Treasury officials said.
It also includes a $10,000 threshold for reporting on transactions involving stablecoins, a type of crypto token typically pegged to an asset like the U.S. dollar.$BTC
Digital Euro CBDC Preparation Phase Update Raises Privacy Concerns
On June 25, the European Central Bank (ECB) provided an update on its two-year preparatory phase for the digital Euro Central Bank Digital Currency (CBDC). This phase, scheduled to conclude in October 2025, places a strong emphasis on privacy and data protection. Nevertheless, certain aspects of the digital currency have sparked concerns regarding potential privacy infringements.
Crypto entrepreneur and investor Daniel Batten raised these concerns on June 26, suggesting that the digital Euro cou
Crypto entrepreneur and investor Daniel Batten raised these concerns on June 26, suggesting that the digital Euro cou
Binance must face bulk of US SEC crypto lawsuit, judge rules
The decision by Judge Amy Berman Jackson of the U.S. District Court for the District of Columbia deals a blow to Binance, which had asked the court to toss the SEC's lawsuit that alleges Binance and its founder and former CEO Changpeng Zhao broke securities laws.
The SEC's suit filed against Binance in June 2023 accused the exchange and Zhao of artificially inflating its trading volumes, diverting customer funds, failing to restrict U.S. customers from its platform and misleading investors about its market surveillance controls.
The regulator also accused Binance of unlawfully facilitating trading of several crypto tokens the SEC deemed unregistered securities.
The ruling adds to the exchange's woes after Binance agreed in November to pay $4.3 billion to settle with the Department of Justice and the Commodity Futures Trading Commission over illicit finance breaches.
Still, Fridayās ruling marks a partial victory for the broader cryptocurrency sector as she sided with a previous judge in saying that the SEC had not made its case that secondary sales of Binanceās tokens ā sold by sellers other than Binance on exchanges- were not securities.$BTC
$BTC
The decision by Judge Amy Berman Jackson of the U.S. District Court for the District of Columbia deals a blow to Binance, which had asked the court to toss the SEC's lawsuit that alleges Binance and its founder and former CEO Changpeng Zhao broke securities laws.
The SEC's suit filed against Binance in June 2023 accused the exchange and Zhao of artificially inflating its trading volumes, diverting customer funds, failing to restrict U.S. customers from its platform and misleading investors about its market surveillance controls.
The regulator also accused Binance of unlawfully facilitating trading of several crypto tokens the SEC deemed unregistered securities.
The ruling adds to the exchange's woes after Binance agreed in November to pay $4.3 billion to settle with the Department of Justice and the Commodity Futures Trading Commission over illicit finance breaches.
Still, Fridayās ruling marks a partial victory for the broader cryptocurrency sector as she sided with a previous judge in saying that the SEC had not made its case that secondary sales of Binanceās tokens ā sold by sellers other than Binance on exchanges- were not securities.$BTC
$BTC
US Treasury finalizes crypto rules to prevent tax evasion
Crypto platforms will have to start reporting traders' sales proceeds to the IRS.
While people who own and sell cryptocurrency have always had to pay taxes on their earnings, a new rule finalized by the US Treasury Department can ensure that they're paying the proper amount on their sales. The new rule will require cryptocurrency platforms like exchanges and payment processors to report their users' transactions to the Internal Revenue Service. According to The Wall Street Journal, authorities a
While people who own and sell cryptocurrency have always had to pay taxes on their earnings, a new rule finalized by the US Treasury Department can ensure that they're paying the proper amount on their sales. The new rule will require cryptocurrency platforms like exchanges and payment processors to report their users' transactions to the Internal Revenue Service. According to The Wall Street Journal, authorities a
IRS finalizes new regulations for crypto tax reporting
Crypto platforms will need to report transactions to the Internal Revenue Service, starting in 2026. However, decentralized platforms that donāt hold assets themselves will be exempt.š
Those are the main takeaways from new regulations that the IRS and U.S. Department of Treasury finalized Friday ā essentially implementing a provision of the Biden Administrationās Infrastructure Investment and Jobs Act, which was passed in 2021.
Gains from selling crypto and other digital assets are taxable even
Those are the main takeaways from new regulations that the IRS and U.S. Department of Treasury finalized Friday ā essentially implementing a provision of the Biden Administrationās Infrastructure Investment and Jobs Act, which was passed in 2021.
Gains from selling crypto and other digital assets are taxable even
Crypto Price Analysis June-29: ETH, XRP, ADA, DOGE, and DOT
This week, we take a closer look at Ethereum, Ripple, Cardano, Dogecoin, and Polkadot.
Ethereum (ETH)
Ethereum fell by 3% this week, and buyers appear to struggle to defend the key support at $3,500. So far, they have managed to prevent a breakdown. If sellers maintain the pressure, ETH could have a difficult week ahead.
The past five weekly candles closed with a lower low. This puts the second-largest cryptocurrency in a clear downtrend. To reverse this, ETH has to move above $3,700. That would
Ethereum (ETH)
Ethereum fell by 3% this week, and buyers appear to struggle to defend the key support at $3,500. So far, they have managed to prevent a breakdown. If sellers maintain the pressure, ETH could have a difficult week ahead.
The past five weekly candles closed with a lower low. This puts the second-largest cryptocurrency in a clear downtrend. To reverse this, ETH has to move above $3,700. That would
Bitcoin (BTC) Price Analysis ā Daily Updates
š“šØBitcoin (BTC) Price Analysisš“šØ
Bitcoinās price is experiencing a downtrend at the moment, as it has failed to continue its rally above $70K. This begs the question if the bull.
How to read Bitcoin charts?
Bitcoin charts usually present the progress of the price using Japanese candlesticks. Each candle represents a specific time-frame (depends on the chart) and is showing the open, close, and price range during that time-frame. On top of that, the chart usually contains a variety of technic
Bitcoinās price is experiencing a downtrend at the moment, as it has failed to continue its rally above $70K. This begs the question if the bull.
How to read Bitcoin charts?
Bitcoin charts usually present the progress of the price using Japanese candlesticks. Each candle represents a specific time-frame (depends on the chart) and is showing the open, close, and price range during that time-frame. On top of that, the chart usually contains a variety of technic
FIU imposes Rs 18.82 crore penalty on crypto exchange Binance
š“šØFIU imposes Rs 18.82 crore penalty on crypto exchange Binanceš“šØ
Global cryptocurrency exchange Binance has been fined Rs 18.82 crore, the highest ever on any crypto entity by the Financial Intelligence Unit of India (FIU-IND) for non-compliance to anti-money laundering laws.
Back in December 2023, the intelligence unit of the Finance Ministry, which is tasked with oversight of trade in virtual digital assets (VDA), had issued a show cause notice to Binance and eight other global exchanges
Global cryptocurrency exchange Binance has been fined Rs 18.82 crore, the highest ever on any crypto entity by the Financial Intelligence Unit of India (FIU-IND) for non-compliance to anti-money laundering laws.
Back in December 2023, the intelligence unit of the Finance Ministry, which is tasked with oversight of trade in virtual digital assets (VDA), had issued a show cause notice to Binance and eight other global exchanges
U.S. Treasury Issues Crypto Tax Regime For 2025, Delays Rules for Non-Custodians (Policy)
š“šØU.S. Treasury Issues Crypto Tax Regime For 2025š“šØ
The IRS has now set up its reporting system for crypto brokers, but it set aside related rules for DeFi and unhosted wallets as it continues to study 44,000 comments to the agency.
The U.S. Department of the Treasury's Internal Revenue Service will require crypto brokers to file 1099 forms like their traditional investment-firm cousins, but decentralized finance (DeFi) operations and non-hosted wallet providers will have to wait for their o
The IRS has now set up its reporting system for crypto brokers, but it set aside related rules for DeFi and unhosted wallets as it continues to study 44,000 comments to the agency.
The U.S. Department of the Treasury's Internal Revenue Service will require crypto brokers to file 1099 forms like their traditional investment-firm cousins, but decentralized finance (DeFi) operations and non-hosted wallet providers will have to wait for their o
Bitcoin Mining Firm CleanSpark Acquires GRIID in $155M Stock Deal
Bitcoin miner CleanSpark Inc. has officially entered into a merger agreement with GRIID Infrastructure Inc., acquiring GRIID in an all-stock transaction valued at $155 million.
The merger is expected to improve CleanSparkās capabilities through an exclusive hosting agreement available through GRIID.
As part of the agreement, 20 megawatts will be allocated to CleanSpark immediately, increasing its operational capacity. GRIID operates an R&D centre in Texas and an equipment repair centre in Tennes
The merger is expected to improve CleanSparkās capabilities through an exclusive hosting agreement available through GRIID.
As part of the agreement, 20 megawatts will be allocated to CleanSpark immediately, increasing its operational capacity. GRIID operates an R&D centre in Texas and an equipment repair centre in Tennes
Bitcoin Proxy MicroStrategy May Soon Have Price Swings Magnified by Spicy ETFs
The proposal of leveraged ETFs yielding 2x exposure to MicroStrategy's stock price had one analyst comparing them to extremely hot peppers.
Investors seeking leveraged exposure to Bitcoinās price may be in store for some spicy TradFi products, following the T-Rex Groupās filing for several MicroStrategy ETFs on Thursday.
The issuer of leveraged funds for tech giants like Tesla and Nvidia signaled that the Bitcoin-hungry software firm is next up on its plate. T-Rex submitted applications for two
Investors seeking leveraged exposure to Bitcoinās price may be in store for some spicy TradFi products, following the T-Rex Groupās filing for several MicroStrategy ETFs on Thursday.
The issuer of leveraged funds for tech giants like Tesla and Nvidia signaled that the Bitcoin-hungry software firm is next up on its plate. T-Rex submitted applications for two
Bitcoin (BTC) Crypto News Today
Bitcoin (BTC) was invented by a pseudonymous individual or group named Satoshi Nakamoto in 2008 and is the worldās first enduring cryptocurrency that succeeded where decades of digital cash experiments failed.
Bitcoinās monetary policy is enforced through a unique blend of software, cryptography and financial incentives rather than the whim of trusted third parties. The Bitcoin network is powered by a cryptographically secure, verifiable database called the blockchain ā itself a technological p
Bitcoinās monetary policy is enforced through a unique blend of software, cryptography and financial incentives rather than the whim of trusted third parties. The Bitcoin network is powered by a cryptographically secure, verifiable database called the blockchain ā itself a technological p
Bitcoin and altcoins fail to rally even as U.S. inflation cools down
For years analysts and traders have said cooling inflation would benefit the crypto market, yet prices are still down. Cointelegraph explains why.
Investors' risk appetite tends to increase with a lower cost of capital and higher liquidity, creating a favorable scenario for high-growth assets. Consequently, Bitcoin $BTC
and other cryptocurrencies often benefit from such conditions, as more money in circulation typically boosts demand. However, if U.S. inflation appears to be u
Investors' risk appetite tends to increase with a lower cost of capital and higher liquidity, creating a favorable scenario for high-growth assets. Consequently, Bitcoin $BTC
and other cryptocurrencies often benefit from such conditions, as more money in circulation typically boosts demand. However, if U.S. inflation appears to be u
BTC price support āthinningā below $60K, while Bitcoin ignores cool PCE
BTC price performance offers little inspiration through the latest U.S. macro data, but concern is brewing among Bitcoin analysts over $60,000 support.$BTC
Bitcoin shrugged off United States macro data on June 28 as doubts lingered over the strength of $60,000 support.$BTC
Bitcoin Price Prediction: BTC Over $61,500 as 1M+ Wholecoiners Mark Milestone
In the latest Bitcoin price prediction, BTC has surpassed the $61,500 mark, coinciding with a milestone where over one million addresses now hold at least one full Bitcoin.š
This surge underscores the growing trust in Bitcoinās value and an upward trend in its long-term investment appeal.
The expansion in the number of wholecoiners highlights Bitcoinās ongoing potential for sustained growth amidst market fluctuations.
Bitcoin Holders Surpass 1 Million: A Milestone in Cryptocurrency Growth
The r
This surge underscores the growing trust in Bitcoinās value and an upward trend in its long-term investment appeal.
The expansion in the number of wholecoiners highlights Bitcoinās ongoing potential for sustained growth amidst market fluctuations.
Bitcoin Holders Surpass 1 Million: A Milestone in Cryptocurrency Growth
The r
Bitcoin Price Prediction: BTC Surge to $61.5K: Rally on Rate Cut Hopes, Trump Debate Win
Bitcoin (BTC) recently halted its losing streak and gained mild bullish traction around $61,500, reaching an intraday high of $62,150, suggesting chances of a bullish Bitcoin price prediction.
This upward trend is linked to softer US macroeconomic data, which increased speculation about an impending Federal Reserve rate-cutting cycle this year, prompting a short-covering rally in BTC prices.
Moreover, BTC gained further momentum as Donald Trump extended his lead over Joe Biden in betting markets
This upward trend is linked to softer US macroeconomic data, which increased speculation about an impending Federal Reserve rate-cutting cycle this year, prompting a short-covering rally in BTC prices.
Moreover, BTC gained further momentum as Donald Trump extended his lead over Joe Biden in betting markets
Elastos Partners With BEVM to Launch Bitcoin P2P Loans, Targeting $1.3T in Dormant Value
In a press release issued on June 28th, Elastos, the SmartWeb ecosystem provider, announced a partnership with Layer 2 provider BEVM to develop a peer-to-peer loan offering denominated in Bitcoin.š$BTC
Big News in the Crypto World
"Big news in the crypto world! šš¹ Get the scoop on the upcoming Binance listings in my latest article.
Discover which new cryptocurrencies are about to make their debut on the worldās leading trading platform.
Whether you're an investor or a crypto enthusiast, these listings could be game-changers.
Stay informed and ready to act!
#Binancelisting #CryptoNewsšš„ #TradingShot #MtGoxJulyRepayments #cryptoomarket
Discover which new cryptocurrencies are about to make their debut on the worldās leading trading platform.
Whether you're an investor or a crypto enthusiast, these listings could be game-changers.
Stay informed and ready to act!
#Binancelisting #CryptoNewsšš„ #TradingShot #MtGoxJulyRepayments #cryptoomarket
Looking to incorporate Cryptocurrency Gift Cards into your business?
hashtag#Binance Gift Cards offer an innovative way to start providing a simple, secure, and seamless entry to cryptocurrency.
Easily purchase and send Gift Cards, and choose from a wide range of cryptocurrencies and Gift Card merchants to best fit your business needs!$SOL
$USDC
Easily purchase and send Gift Cards, and choose from a wide range of cryptocurrencies and Gift Card merchants to best fit your business needs!$SOL
$USDC
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