Coin Center responds to US lawmakers’ request for crypto tax guidance
The crypto advocacy group’s suggestions included a de minimis exemption for crypto transactions and having the IRS provide guidance on block rewards, airdrops and hard forks.
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IRS Rules Crypto Staking Rewards as Taxable Income
The Internal Revenue Service (IRS) has ruled that U.S. cryptocurrency investors must include staking rewards in their gross income since crypto assets are treated as property for federal income tax…
Crypto staking rewards are taxable once received: IRS
The U.S. tax department will be requiring taxpayers to count staking rewards as gross income at the time they gain "dominion" over the tokens.
Kraken ordered by court to disclose user data to IRS for tax compliance
Kraken is required to provide details of users who engaged in transactions exceeding $20,000 within a calendar year.
Five US enforcement agencies form new digital currency anti-crime task force
The agencies have worked together for years, but now their joint efforts are official as they plan to ramp up activity.
Intuit introduces proprietary large language models for fintech with GenOS
Intuit is launching an operating system for generative artificial intelligence that will feature AI models trained on the company’s financial data.
US lawmakers blame crypto firms for ‘tax gap’ in letter to Treasury
In a letter addressed to Treasury Secretary Janet Yellen and IRS Commissioner Daniel Werfel, two members of Congress raised concerns about the tax compliance practices in crypto.
IRS, Chainalysis Helping Ukraine Track Russians Using Crypto to Evade Sanctions
The U.S. Internal Revenue Service (IRS) said it’s working closely with Ukraine to help it trace crypto transactions of Russian sanctions evaders. The agency is providing the Ukrainians access to…
How the IRS seized $10B worth of crypto using blockchain analytics
A public-private partnership with blockchain analytics firm Chainalysis has played a key role in helping the Internal Revenue Service solve cryptocurrency-related crimes.
Tax law researchers propose IRS framework for deducting crypto losses
A recently published study appears to advocate for the isolation of crypto assets from other tax deductions, where losses are concerned.
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