Friday, June 2, 2023
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Biden Budget Plan Would Close Crypto Tax Loss Harvesting Loophole

The president's team has already passed one crypto tax-related piece of legislation into law; in 2021, the Bipartisan Infrastructure Framework, which later became the Infrastructure Investment and Jobs Act, included a controversial tax provision that would impose certain reporting rules onto brokers facilitating crypto transactions. The definition of "broker" was

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Blur Reportedly Finds Loophole in OpenSea’s Blocklist as Marketplace War Escalates

Blur, which debuted in October 2022, landed itself on the map for being a no-fee marketplace geared toward professional NFT traders. In one of its first days, it raked in about 1,160 ETH in trading volume, or over $1.8 million. It soared past competitor marketplaces such as SudoSwap and LooksRare,

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Loophole in U.S. Tax Law Could Allow Bitcoin Traders to Write off Unlimited Losses

A loophole in the U.S. tax law could allow qualified bitcoin traders to write off unlimited losses from their trading activities, according to an expert from crypto tax platform Coin Tracker.Traders, defined by U.S tax collection agency Internal Revenue Service (IRS) as people who trade substantially, regularly and continuously,

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