January 24, 2019 - McAfee to Lead 2020 Presidential Campaign ‘in Exile’ After Alleged IRS Indictment
United States entrepreneur and serial cryptocurrency advocate John McAfee has fled the country to conduct his 2020 presidential campaign, he said in a video statement Jan. 22. McAfee claims he has been indicted by U.S. tax authorities and plans to run his campaign from a boat in international waters.
January 8, 2019 - John McAfee is set to do battle with the IRS over taxes
In preparation for my battle with the IRS: I purposely never transacted using privacy coins. Nor anyone in Team McAfee.
September 27, 2018 - FBI And IRS Unmasking Crypto Investors By Paying Firms
Agencies are awarding contracts to blockchain analysis firms with much of the taxpayer-funded dollars having been awarded to New York-based Chainalysis. “Blockchain analysis is … frequently used by law enforcement agencies to identify illegal activity and attempt to link identities to pseudo anonymous bitcoin addresses.”
June 7, 2018 - Bitcoin's chance at $20 Trillion Offshore Tax Haven Market
Depending on the study, as much as $20 trillion is hidden away from government tax farmers. However, loopholes are closing as lawmakers discover them, perhaps creating just the use case bitcoin needs to thrive in the near future.
June 7, 2018 -- How Blockchain Technology Can Save The IRS
Blockchain is encrypted and can be public or private. Blockchain encryption involves public and private keys (much like a two-key system to a vault) to ensure security. Each time a transaction is verified by a network, the transaction is stored in a block which is linked to the preceding block, thus, creating a chain.
May 7, 2018 - Banks don't want to be weakest link in blockchain revolution
Blockchain, the cutting-edge technology behind virtual currencies like bitcoin, has the potential to play a disruptive role in the global finance sector, experts say, as banking behemoths seek to connect with its opportunities.
April 19, 2018 - New York’s attorney general is investigating bitcoin exchanges
He’s looking into thirteen major exchanges, including Coinbase, Gemini Trust, and Bitfinex, requesting information on their operations and what measures they have in place to protect consumers.
April 16, 2018 - Crickets Still Chirping on US Crypto Tax Returns; Crypto Taxation Complexities to Blame?
“There’s a good chance that the perceived complexities of reporting cryptocurrency gains are pushing filers to wait until the very last minutes. I want to reassure people that it’s not as complex as it may seem at first glance and that Credit Karma Tax has a number of resources about how to approach Bitcoin and taxes,” said Jagjit Chawla, the company’s general manager.
April 3, 2018 - Switzerland at epicentre of cryptocurrency revolution
Switzerland has become a global hub for cryptocurrencies and the blockchain technology they are built on, with investors flocking to the wealthy Alpine nation to get in on the virtual action.
March 16, 2018 - Coinbase Releases Cryptocurrency Tax Calculator
In a blog post published on Tuesday, the firm explained that the calculator can be used to generate a report which outlines their capital gains (or losses) on its platform, using a first-in-first-out (FIFO) accounting method.
March 6, 2018 - The IRS Is Cracking Down On Cryptocurrency Transactions. Here's What That Means For You
“Coinbase fought this summons in court in an effort to protect its customers, and the industry as a whole, from unwarranted intrusions from the government,” the company wrote in its announcement to customers.
March 1, 2018 - Israel to tax Bitcoin as an Asset, not a Currency
a person who holds a digital currency in order to create a capital gain (and does not engage in it as a ‘business’) will be exempt from paying VAT, but will be liable for capital gains tax, which in Israel today is at 25% for most taxpayers. However businesses (or individuals) which ‘engage’ in Bitcoin for business purposes will have more complicated treatment, and will have to pay a value added tax (VAT) of 17%, on top of the capital gains tax.
March 1, 2018 - Coinbase Sends IRS Summons Notification To 13,000 Customers
On February 23, 2018, cryptocurrency exchange Coinbase notified approximately 13,000 of its customers who are subject to the Internal Revenue Service Summons that the company must hand over information specific to their accounts. Coinbase expects to deliver the required documentation within the next three weeks.
March 1, 2018 - Coinbase Compelled by IRS to Provide 13,000 Customers’ Information
“Received notice from Coinbase today,” Tweeted Andreas Antonopoulos, “that my account is one of the 13,000 that they will have to turn over to the IRS under the court order. Not surprised, I knew I would be in that group. In case you were wondering, I’ve filed & paid taxes for my bitcoin income, gains/losses.”
March 1, 2018 - The Supreme Court: Digital Currency Companies Can Continue Operating Through Bank Accounts
the Supreme Court did not deliberate the material question, which is – is a bank allowed to deny banking services to cryptocurrency traders, the court ruled in favor of Bits of Gold’s motion and issued a preliminary injunction that prohibits the bank from restricting activities relating to bitcoin trading in the company’s account, and this, without prejudicing the bank’s right to individually examine any operation being transacted in the account or its right to take steps to mitigate those risks that, in its opinion, the company’s activities are posing to the bank.