Biden’s policy on crypto taxation undermines his environmental goals
We don’t tax houses while they’re under construction, and we shouldn’t impose taxes on cryptocurrency while it’s staked.
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Ted Cruz and Ron DeSantis take on the ‘digital dollar’: Law Decoded, March 20–27
Two lawmakers in one week weighed in against the possibility of a United States central bank digital currency.
IRS calls for public feedback on taxing NFTs as collectibles
Those wishing to offer feedback to the IRS on having NFTs treated as collectibles, such as coins or works of art, have until June 19 to submit comments.
ConsenSys releases statement of support for continuation of the Jarrett tax case
The court dismissed the Jarretts’ case over the taxation of staking rewards after the IRS issued the refund the couple sought; not good enough, they said.
IRS reminds taxpayers of crypto income reporting ahead of 2022 filing
The IRS’s recommendation to check “Yes” boils down to receiving, earning, transferring or selling cryptocurrencies for any monetary benefit, including mining and staking.
Man Pleads Guilty to Stealing Bitcoin ‘Seized’ by US Government
An Ohio man has pleaded guilty to stealing over 712 bitcoin that was “seized” by the U.S. government in another criminal case. He has agreed to forfeit some bitcoin, ether,…
IRS Official: Crypto Is Here to Stay and ‘Becoming More Legitimate’
A top Internal Revenue Service (IRS) official says, “Cryptocurrency is here to stay,” and “it’s becoming more legitimate.” The official added that the U.S. tax authority is looking to partner…
US authorities to intensify scrutiny of crypto industry in 2023
The SEC, FASB, and IRS are working to tighten crypto regulations and expand industry oversight.
US Government Delays Tax Reporting Rules for Cryptocurrency Brokers
The enforcement of a requirement for brokers to report gains made by crypto investors has been postponed by the U.S. Treasury Department and the IRS. The new tax rules, incorporated…
The outcome of SBF’s prosecution could determine how the IRS treats your FTX losses
Will your losses to FTX be classified as capital losses or as a “theft loss” that involved a Ponzi scheme? Either way, you’ll probably win.
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