What Happens When You Don’t Report Your Crypto Taxes to the IRS

Key takeaways Tax authorities like the IRS, HMRC and ATO classify crypto as a capital asset, meaning that sales, trades and even swaps are considered taxable events. Tax authorities worldwide are coordinating through frameworks like the FATF and the OECD’s CARF to track transactions, even across borders and privacy coins. Authorities use blockchain analytics firms…

Crypto Funds See $921M Inflows As Inflation Data Fuels Rally

Cryptocurrency investment products regained momentum last week as investor confidence improved following lower-than-expected US inflation data. Crypto exchange-traded products (ETPs) saw $921 million of inflows last week, more than offsetting the $513 million in outflows from the week before, CoinShares reported Monday. The main driver behind the bullish trend in the crypto fund market was…

What Happens When You Don’t Report Your Crypto Taxes to the IRS

Key takeaways Tax authorities like the IRS, HMRC and ATO classify crypto as a capital asset, meaning that sales, trades and even swaps are considered taxable events. Tax authorities worldwide are coordinating through frameworks like the FATF and the OECD’s CARF to track transactions, even across borders and privacy coins. Authorities use blockchain analytics firms…

What Happens When You Don’t Report Your Crypto Taxes to the IRS

Key takeaways Tax authorities like the IRS, HMRC and ATO classify crypto as a capital asset, meaning that sales, trades and even swaps are considered taxable events. Tax authorities worldwide are coordinating through frameworks like the FATF and the OECD’s CARF to track transactions, even across borders and privacy coins. Authorities use blockchain analytics firms…

What Happens When You Don’t Report Your Crypto Taxes to the IRS

Key takeaways Tax authorities like the IRS, HMRC and ATO classify crypto as a capital asset, meaning that sales, trades and even swaps are considered taxable events. Tax authorities worldwide are coordinating through frameworks like the FATF and the OECD’s CARF to track transactions, even across borders and privacy coins. Authorities use blockchain analytics firms…

Bitcoin Fork Proposal Sparks Legal Threat Debate

A new Bitcoin improvement proposal for a soft fork has sparked outrage on X over a section that some claim is threatening legal consequences for those who reject the fork.  The proposal, created by core developer Luke Dashjr and published on Friday, is the latest salvo in the recent Bitcoin Core vs Knots debate, which…

Prices Move Above 50-day Average. What Next?

Bitcoin BTC$115,264.33 has recently crossed above the 50-day simple moving average (SMA), a widely observed indicator of a short-term bullish trend. This breakout is validated by technical indicators including a fresh bullish crossover on the daily MACD histogram and a bullish cross between the 5- and 10-day SMAs, signaling growing upward momentum. The recent upswing…

Ethereum Needs Paradigm, VCs, Despite Value Extraction: Joseph Lubin

Ethereum co-founder and Consensys founder Joseph Lubin highlighted the importance of venture capital (VC) funding for the development of the world’s largest smart contract network, despite industry concerns over the influence of investment funds on Ethereum. The main goal of VCs like Paradigm is to “suck as much value as possible from the Ethereum and…

Big Iran Bank Goes Bankrupt, Affecting 42 Million Customers

One of Iran’s largest private banks has fallen into bankruptcy, with the assets of more than 42 million customers being absorbed by the Iranian state-owned lender, Bank Melli. Ayandeh Bank declared bankruptcy on Thursday after it accumulated $5.1 billion in losses and nearly $3 billion in debt, local media outlet Iran International reported on Friday. The bankruptcy…

Zcash Jumps 30% as Arthur Hayes $10,000 Call Ignites Interest

Privacy-focused cryptocurrency Zcash has surged 30% in the last 24 hours after crypto entrepreneur Arthur Hayes predicted the token would eventually reach $10,000.  Zcash rallied from $272 to a peak of $355 in the hours after Hayes’s “vibe check” post on X on Sunday with the bullish prediction, outperforming all other top 50 tokens by…