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"The bitcoin mining market deteriorated during the third quarter, as the bitcoin price fluctuated and further dipped to around sixteen thousand dollars recently," CEO Nangeng Zhang said in the statement. "The negative market dynamics have significantly hindered bitcoin miners' revenues and cash flows. As miners are forced to cut their
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The firm faces no risks of insolvency, Matrixport's spokesperson told CoinDesk. Original Source
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This means that these gains and losses would directly hit these companies’ earnings. The other choice would be to have companies record the swings in the value of their crypto holdings in “other comprehensive income,” which wouldn’t impact earnings. Source
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India’s taxation authority has proposed new changes to the filing of income tax returns that could have a significant impact on those holding virtual digital assets (VDAs) or cryptocurrencies or possibly even investments in DAOs (Decentralized Autonomous Organizations). Source
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The cryptocurrency market is incredibly volatile, which can be both good and bad for investors and traders. Volatility creates opportunities for making profits, but it can also lead to losses. Passive income strategies, however, could be handy in offsetting these losses. Passive income strategies offer investors and traders opportunities to earn
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The digital asset bank grew its customer base to 1,677 during Q3. Original Source
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Cryptocurrency miners in Kazakhstan are to be required to convert up to three quarters of their income on locally registered exchanges, according to a new bill that’s advancing in the nation’s legislature. Lawmakers also want to make sure crypto companies pay their taxes and fees. Parliament of Kazakhstan Votes on Bill
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Bitcoin (BTC), along with other cryptocurrencies, has provided people with a venue to earn passive income, making money without any active involvement. One doesn't need to take unnecessary trading risks or spend time reading and analyzing reams of information. While the concept of passive earning isn't new, cryptocurrency has undoubtedly added
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The Brazilian Securities and Exchange Commission (CVM) has sent a subpoena to Mercado Bitcoin, one of the biggest exchanges in the country, to inquire about the services the company lends regarding cryptocurrency-related fixed return investments. The company will have to disclose the details of these investments and if they plan
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After much buildup and preparation, the Ethereum Merge went smoothly this month. The next test will come during tax season. Cryptocurrency forks, such as Bitcoin Cash, have created headaches for investors and accountants alike in the past.While there has been progress, the United States Internal Revenue Service rules still weren’t
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