The United States IRS has clarified that crypto investors who only purchased digital assets using fiat and did not sell during 2020 do not need to report said activities. Source link
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The highly anticipated Spark token snapshot takes place on December 12, at 0:00 GMT. Ripple XRP holders eagerly await this date, but Head of Tax Strategy at CoinTracker, Shehan Chandrasekera, warns that airdrops are a taxable event. As such, individuals who register for and receive Spark tokens must include this …
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Once an IRS investigation or audit is opened, it’s too late to make amends, warn tax lawyers. Source link
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The United States tax authority doesn’t seem to be very efficient when it comes to tracking down who owes crypto taxes — for now. Source link
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A new Monero update brings improvements in performance, speed, and security amid increased scrutiny from law enforcement and developments from competitors Source link
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Privacy coin Monero presses on full steam ahead as its daily transaction count reaches all-time highs. Data from bitinfocharts.com shows the daily number of XMR transactions peaked at 20.136k on October 12, 2020. This smashes the previous all-time high of 16.689k daily transactions, achieved less than a month and a …
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The US taxation watchdog is tightening the noose around crypto investors. IRS Wants to Know About Your Crypto Indulgences The US Internal Revenue System (IRS) recently released drafts of its income tax forms for 2020 which particularly asks all taxpayers whether they ever bought any crypto. In specific, the latest …
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The United States tax agency has published a request for information pertaining to privacy-centric cryptocurrencies and technologies that obfuscate crypto transactions. The IRS-CI Cyber Crimes Unit request is also asking for information in relation to “layer two offchain protocol networks, sidechains, and the Schnorr Signature algorithm.” A recently published IRS-CI …
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Cryptocurrency companies and advocates will meet in DC to discuss how the IRS can “balance taxpayer service with regulatory enforcement” Source link
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