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Decentralized • November 14-16, 2018

After the huge success of Decentralized 2017, the University of Nicosia is proud to announce that Decentralized 2018 will take…

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Tag: taxes

Cryptocurrency Traders Evade Taxes Making Use of Lending Loopholes

Category: Bitcoin, Finance, News, Regulation

Cryptocurrency Traders Evade Taxes Making Use of Lending Loopholes

According to an article by Venture Beat, published November 11, 2018, cryptocurrency traders in the U.S. have found a lending loophole to avoid taxation on their digital currency transactions. Evade Taxes by Loaning out Equivalent Amount Taxation has been one larger problems facing the cryptocurrency industry since it came into prominence. Earlier this year, in March 2018, the Internal Revenue…

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American College Student Collects $400,000 in Tax Liability from $5,000 Crypto Investment

Category: Altcoins, Bitcoin, Business, Exchange, Finance, Investment, News, Regulation

American College Student Collects $400,000 in Tax Liability from $5,000 Crypto Investment

On November 2, 2018, a Reddit user submitted a post to the /r/tax subreddit claiming that they were stuck in a somewhat precarious proposition with their taxes. Crypto-to-crypto trades: Taxable events The individual, an American college student, said that they decided to start dabbling in cryptocurrency investments sometime in early 2017 after hearing about the market’s growth potential from a…

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Spanish Regulators Mandate Cryptocurrency Holders to Formally Identify Themselves

Category: Altcoins, Bitcoin, Business, Exchange, Finance, News, Regulation

Spanish Regulators Mandate Cryptocurrency Holders to Formally Identify Themselves

The Spanish government has reportedly approved a draft law that will make it mandatory for digital asset holders with over €50,000 ($57,000) in their cryptocurrency wallets to identify themselves and announce their exact holdings. This new rule is targeted at curbing cryptocurrency tax evasion, according to a Finance Magnates report on October 24, 2018. Spanish Regulators Hit Crypto Big Whales…

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Japan Looks to Ease Tax Reporting of Cryptocurrency Gains and Profits

Category: Altcoins, Bitcoin, Exchange, News, Regulation

Japan Looks to Ease Tax Reporting of Cryptocurrency Gains and Profits

To establish a seamless tax reporting mechanism for cryptocurrency gains in Japan, the Japanese Tax Commission held a debate on October 17, 2018, per a report by the local media outlet Sankei News. Standardization of Tax Filing Process According to the report published, the Japanese Tax Commission is contemplating ways by which gains or profits on cryptocurrency trading can be…

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Congressmen Demand IRS Design Legal Framework for Cryptocurrencies

Category: Altcoins, Bitcoin, Finance, News, Regulation

Congressmen Demand IRS Design Legal Framework for Cryptocurrencies

Since bitcoin’s first appearance, regulators have shown their concerns and tried to level the rules concerning virtual currency adequately. However, these rules are far from clear, and now financial regulators are urging the IRS to draw a solid framework for virtual currencies according to September 19, 2018, reports. Swift Update to Opaque Tax Guidelines According to IBTimes, at least five…

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Lobbying Group in Washington Opens Doors to Represent the Crypto Community

Category: Altcoins, Bitcoin, Blockchain, Ethereum, News, Regulation

Lobbying Group in Washington Opens Doors to Represent the Crypto Community

High-profile cryptocurrency companies and well-known technology entrepreneurs announced on September 11, 2018, that they will form a lobbying group in Washington called the Blockchain Association. According to the Washington Post, the Blockchain Association is designed to represent investors and entrepreneurs who are building and supporting blockchain technology. Coinbase, Circle, and PolyChain Capital The Association’s goal is to become the industry’s…

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U.S. Tax Policy Is a Stumbling Block for Bitcoin Adoption

Category: Adoption, Altcoins, Bitcoin, Business, Commentary, News, Regulation

U.S. Tax Policy Is a Stumbling Block for Bitcoin Adoption

George Popescu has come down hard on the American Internal Revenue Service (IRS) and the U.S. tax code in general as stifling instead of enabling innovation through cryptocurrency adoption. In a Medium post published on August 22, 2018, the founder of crypto industry publication Blockchain Times and augmented reality startup Lampix stated that tax policy is effectively blocking crypto payments…

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Why Do Blockchain and Crypto Companies Prefer Foundation to Enterprise Structure?

Category: Altcoins, Bitcoin, Blockchain, Business, Finance, Regulation

Why Do Blockchain and Crypto Companies Prefer Foundation to Enterprise Structure?

The year 2018 witnessed an influx of blockchain and cryptocurrency firms in the global economy. Although these firms are still overcoming issues related to their practical application in the real world, imagining a world with its economy pivoted around digital ledgers might not be a distant dream. However, one must have noticed a stark similarity in the enterprise structure of…

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Bitcoin Exchange Bits of Gold to Share Data with Israeli Tax Authorities to Prevent Money Laundering

Category: Altcoins, Bitcoin, Business, News, Regulation

Bitcoin Exchange Bits of Gold to Share Data with Israeli Tax Authorities to Prevent Money Laundering

Cryptocurrency exchange Bits of Gold and the Israeli Tax Authority have joined hands to fight against money laundering via digital assets in the country. Local news outlet Calcalist reported on July 5, 2018, the agreement between the two entities as Israel seeks to curb any illicit money laundering via cryptocurrencies while maintaining a decisive stand for the volatile asset class….

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New Capital Inflows Spark Massive Crypto Relief Rally: BTCManager’s Week in Review July 2

Category: News Digest

New Capital Inflows Spark Massive Crypto Relief Rally: BTCManager’s Week in Review July 2

The mood among crypto investors has reached new lows in the past week when the price of bitcoin dropped below the $6,000 mark, and many bitcoin bears and naysayers popped up to claim that the “bitcoin bubble” has finally burst. Fortunately, for crypto investors, we finally witnessed a much-needed relief rally on the weekend thanks to new capital inflows into…

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