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The United States Government Accountability Office (GAO) warns that “limits on third party information reporting to the IRS is an important factor contributing to the tax gap, which is the difference between taxes legally owed and taxes actually paid”. The United States Department of the Treasury and the Internal Revenue Service
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Two federal agencies of the United States — the Department of the Treasury and the Internal Revenue Service (IRS) — have released a set of cryptocurrency regulations proposal detailing brokers' reporting requirement.The Office of Advocacy of the U.S. Small Business Administration revealed that the proposal around crypto regulations for brokers
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The co-founder pleaded not guilty to all charges involving the alleged misuse of Tornado Cash for illicit activities. Tornado Cash co-founder Roman Storm has pleaded not guilty to all money laundering and violations charges. Storm, who was arrested in August, was charged with fellow co-founder and developer Roman Semenov. An Inner City
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Tether’s CTO, Paolo Ardoino, reveals that the company bought more US Treasury bills than the United Arab Emirates, Australia, Japan, and Mexico. In a post on X (formerly Twitter), Ardoino highlights that Tether’s current hold in the
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The mixed economic data that has emerged is at the root of the uncertainty surrounding the Fed’s monetary policy. A recent report has revealed that the US Treasury yields are currently on the rise as investors analyze key economic data released the previous week. This surge has prompted investors to contemplate
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Decentralized exchange (DEX) platform dYdX will unlock $14.02 million worth of DYDX (DYDX) tokens dedicated to the community treasury and rewards for traders and liquidity providers.On Aug. 29, dYdX will release 6.52 million in-house tokens, representing 3.76% of the DYDX circulating supply. Out of the lot, 2.49 million DYDX tokens
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied The US Treasury Department recently revealed a proposal outlining new tax rules for the cryptocurrency industry. Among the updates is the introduction of a 1099 form for crypto transactions. The new guidelines also clarify tax
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"The crypto ecosystem is very different from that of traditional assets, so the rules must be tailored accordingly and not capture ecosystem participants that don’t have a pathway to compliance," said Kristin Smith, CEO of the Blockchain Association, in a statement shortly after the proposal emerged. Source
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied A district court judge sided with the U.S. Treasury Department in a lawsuit that involves Coinbase and sanctions imposed on crypto mixer Tornado Cash. The decision came as a blow to six plaintiffs who had challenged
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