Cryptocurrency Analysis and News Portal
The UIAF, which is the Colombian money laundering watchdog, has postponed the date on which exchanges and individuals must start reporting their transactions to the organization. The institution will now open a consulting period in which companies and individuals can present their thoughts regarding the proposed regulation, which might be
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The SEC’s proposal will be open for public comment for at least two months before the agency will begin its work on a final rule. However, if the proposal requires companies to report more detailed emission disclosures, it may be challenging to comply with, said Zach Bradford, CEO of CleanSpark
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The cryptocurrency industry in the United States is about to score a major legal win as the U.S. Treasury Department plans to spare crypto miners, and other "ancillary parties" from tax reporting rules.In a letter to a group of senators on Friday, the U.S. Treasury indicated that it plans to
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Industry participants pointed out that miners, stakers and other parties don’t typically have access to customer information that exchanges have when they facilitate transactions. An overly broad definition might be impossible for some entities to comply with. Treasury’s letter, a copy of which was obtained by CoinDesk, suggests the expanded
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The Infrastructure Investment and Jobs Act (H.R. 3684) put crypto in the crosshairs, where Congress and the Internal Revenue Service (IRS) hope to scoop up enormous tax dollars. This reporting regime is projected to rake in an astounding $28 billion over the next ten years. No other provision in this
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Another provision opposed by the crypto industry essentially requires recipients of transactions over $1,000 to verify the sender’s personal information and record his or her Social Security number, the nature of the transaction and other information, and report the transaction to the government within 15 days. Original Source
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Binance has hired a veteran financial criminal investigation agent to head up suspicious activity reporting as it continues to strengthen its regulatory compliance front.Amjad Qaqish, a former criminal investigation special agent at the U.S. Internal Revenue Service (IRS), was named as the largest crypto exchange’s director of global suspicious activity
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Supply chain management platform VeChain has announced a new service for combining businesses to overhaul their carbon footprint data management practices.The new service, detailed in a Medium post on Thursday, combines decentralized ledger technology with a software-as-a-service (SaaS) business model.The Digital Carbon Footprint SaaS Service “allows enterprise users to log
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The United States Treasury Department is reportedly seeking to clarify the definition of brokers in the bipartisan infrastructure bill passed by the Senate last week, offering cautious reassurance that the new legislation won’t impact innovation and growth in the blockchain industry. As reported by Bloomberg, the Treasury Department is preparing guidance
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Cryptocurrency exchange Crypto.com has launched a free tax reporting service for users based in Australia. In an announcement today, Crypto.com said it had tailored its existing tax services for United States- and Canada-based crypto users to allow Australians to accurately report cryptocurrencies on their taxes. The exchange said it worked with
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