Wednesday, December 18, 2024
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Coinbase Ditches US Customer Tax Form That Set Off False Alarms at IRS

Cryptocurrency exchange Coinbase has decided to discontinue sending customers 1099-Ks, the U.S. tax form which led the Internal Revenue Service (IRS) to mistakenly think traders had underreported their gains. The exchange will instead use the 1099-MISC form, at least for customers who earn interest on lending and similar products, it said

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Court Rules Bitcoin Is a Form of “Money” Under Washington D.C. Money Transmitters Act

In what comes as yet another significant assent solidifying the narrative of bitcoin (BTC) as a legitimate medium of payment, a federal court in the U.S. ruled that the premier cryptocurrency is a form of “money” covered under the Washington D.C. Money Transmitters Act (MTA). However, crypto bulls should not keep

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