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Change to US accounting rules will be a boon to companies holding crypto in 2025

The Financial Accounting Standards Board (FASB) has unanimously approved rules for accounting for the fair value of companies’ cryptocurrency holdings, according to media reports. The rules will go into effect in 2025.The FASB is the United States organization that sets accounting and reporting standards for organizations that follow U.S. Generally

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Crypto community reacts to Biden’s proposed crypto tax reporting rules

Several prominent crypto commentators have criticized the new crypto tax reporting rules recently put forth by United States president Joe Biden. On Aug. 25, in an effort to catch crypto users avoiding taxes, the Internal Revenue Services (IRS) proposed brokers follow new rules for selling and trading digital assets. Brokers would

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IRS releases draft of proposed reporting rules for digital asset brokers

The United States Internal Revenue Service (IRS), the agency responsible for tax collection, released proposed regulations on the sale and exchange of digital assets by brokers. Under the rules, brokers would be required to use a new form to report to simplify tax filing and cut down on tax cheating.The

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US judge rules in favor of human ingenuity, denies copyright for AI art

In a recent court decision, United States District Judge Beryl Howell upheld the stance of the U.S. Copyright Office that artworks created solely by artificial intelligence (AI) are not eligible for copyright protection.This verdict came amid growing worries about the possibility of generative AI taking the place of human artists and

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UK ‘Travel Rule’ Guidance Set Out by FCA as Stricter Rules Halt PayPal Crypto Business

Controversial new measures known as the travel rule, requiring crypto operators to identify the sender and recipient of funds transfers, are already legislated to take effect in the U.K. as of Sept. 1. While the money-laundering norms haven’t yet been fully implemented across the world, the U.K.'s upcoming stricter rules,

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Strict Canadian crypto exchange rules allowed Kraken clarity to invest there, exec says

Size and energy allowed Kraken to stay in Canada after the imposition of new registration requirements for crypto exchanges in February. But in spite of the demanding process, the regulatory clarity has benefited the company, Kraken managing director for Canada Mark Greenberg said.Speaking to Cointelegraph’s Sam Bourgi at the Blockchain

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