Following the announcement, a section of the crypto community on Twitter has heaped praises on the IRS and Treasury Department for taking such a detailed approach instead of regulating through enforcement.
The Internal Revenue Service (IRS) may be contemplating disallowing the addition of NFTs to Individual Retirement Accounts (IRAs). This follows after ArtConcernsIRSNFTsPhysicalRiseTaxationTreat Read More
Blue-collar workers are the gears that make the world go round. They turn in a hard day’s work day after day, so there is little question that these professions hold a valuable place in society. Unfortunately, despite their contributions, these hard workers often go unnoticed.Cryptox and Web3 metaverse concert platform BillyCyrusDoggExclusivefeatHardNFTPreSaleRaySnoopTreatWorkers Read More
Australian crypto executives have urged caution over lumping all digital assets in the same boat as financial products, after recent comments from Australia's assistant treasurer on the maSpeaking to the Sydney Morning Herald on Jan. 22, Assistant Treasurer and Minister for Financial Services Stephen Jones was commenting on the state ArgumentAussieBitcoinCryptocryptoexchangeExchangesExecsFinancialProductsRefuteTreat Read More
Given the scarcity of crypto custodial solutions, the SEC could clarify that, in certain circumstances, registered investment advisers (that are not qualified custodians) can use a combination of software and comprehensive internal controls to self-custody crypto. This doesn’t have to result in any relaxation of custodial rules – in fact, AssetsClientsCryptoMatterTreat Read More
Indian crypto tax policy became even more complicated just a week before the new tax laws are set to come into effect. A new parliamentary note answering queries about the new tax policies on virtual digital assets suggests that traders can’t offset their losses from one digital asset against profit on AssetBitcoinCryptocryptoexchangeDigitalExchangesIndependentlyIndianInvestmentPolicyTaxTreat Read More
The government and central bank in Russia have reached an agreement on how to regulate cryptocurrencies, according to a Tuesday announcement.Russia's government and central bank are now working on a draft law that will define crypto as an "analogue of currencies" rather than digital financial assets, set to be launched AgreeBankBitcoinCentralcryptoexchangeCurrencyExchangesGovtRussianTreat Read More
“There are other, safer ways of achieving the same objectives. For example, we could require 100% of stablecoin reserves to be maintained off-balance sheet, or require stablecoin reserves to be maintained at a Federal Reserve Bank, which is, by definition, risk-free. We already have a case study in this – AddressBanksdoesntIssuersReportStablecoinTreasurysTreat Read More
In summary:60% of the Bitcoin in existence is held as a long-term investment.20% of the Bitcoin ever mined has not moved in five years or more. Approximately 19% of the Bitcoin mined, moves frequently and is used for trading. The team at Chainalysis has released a comprehensive report that highlights how investors BitcoinBTCDigitalGoldInvestorsMajorityReportTreat Read More
Sony offered a tantalizingly short look at its next-gen console’s UI in action during the PS5 showcase today.
Following the trailer for Hitman III, the broadcast transitioned to a UI boot up sequence with a health and safety warning. Owners of Sony’s previous consoles will be all too familiar with the CrispGloriouslyPlayStationTreatUIVisual Read More
A recent survey found an alarming number of Americans trust Alexandria Ocasio-Cortez and Greta Thunberg about global warming. They also trust Bill Nye, Leonardo DiCaprio, and Pope Francis. But none of these people are scientists. And they’re spreading climate alarmism and mythology, not climate science. An eye-opening survey by AOCClimateGretaScientistsTheyreThunbergTreat Read More