[Jan 18 2:00 AM] Axios reports that Sen. Ted Cruz, a Republican from Texas, plans to wield the Congressional Review Act (CRA) next week to challenge a tax regulation that infringes on the rights of cryptocurrency brokers. This move is seen not just as a procedural…
[Jan 13 2:30 AM] Rep. Buddy Carter (R-GA) has introduced the Fair Tax Act, a sweeping proposal to dismantle the federal tax code, abolish the IRS, and replace it with a national consumption tax—a move aimed at restoring individual economic freedom and…
[Jan 3 11:30 PM] Some in the crypto community assumed the IRS was backpedaling on reporting requirements, but all requirements are still firmly in place, the agency simply announced a grace period for exchanges to upgrade their technology. IRS Grants Crypto…
[Jan 1 1:30 AM] The IRS will allow crypto holders on centralized exchanges to bypass strict tax regulations in 2025, preserving flexibility in reporting and tracking digital asset sales. IRS Announces Temporary Relief for Some Crypto Holders The Internal Revenue…
[Dec 29, 2024 12:30 PM] The Blockchain Association, the Defi Education Fund, and the Texas Blockchain Council are preparing to fight back against the recently finalized so-called crypto ‘broker’ rules issued by the Treasury and the IRS. The coalition asserts…
[Dec 28, 2024 9:54 PM] The United States Treasury Department and the Internal Revenue Service (IRS) received more than 44,000 comments after proposing the rule.
[Dec 28, 2024 1:30 PM] The lawsuit alleges that the IRS’ latest rulemaking exceeds the agencies’ statutory authority and violates the Administrative Procedure Act.
[Dec 28, 2024 5:30 AM] The U.S. Internal Revenue Service (IRS) has reaffirmed its stance on the immediate taxability of staking rewards, doubling down on a position assumed in 2023 as part of internal guidelines. In a recent filing related to an ongoing lawsuit, the…
[Dec 27, 2024 8:42 PM] The new IRS rules classifying DeFi protocols as brokers have triggered a swift backlash in the crypto industry, with calls for Congress to overturn the rules.
[Dec 27, 2024 6:35 PM] The final regulation treats DeFi front-ends as brokers, demanding the disclosure of gross proceeds from sales of digital assets.
[Dec 27, 2024 6:20 PM] The U.S. Treasury’s sweeping IRS rule forces crypto platforms to track and report all transactions, igniting fierce industry backlash and looming legal battles over its survival. US Treasury Expands IRS Reach – Crypto Industry Faces Full Reporting…
[Dec 13, 2024 9:11 AM] A Texas Bitcoin investor faces two years in prison for failing to report over $4 million in cryptocurrency gains, setting a legal precedent.
[Nov 29, 2024 5:30 AM] The incoming heads of the newly established Department of Government Efficiency (D.O.G.E.) have an ambitious plan of slashing federal agencies’ spending by $2 trillion, locking in its crosshairs several agencies for sweeping budget cuts. One of the…
[Nov 14, 2024 2:10 PM] Gaetz’s nomination for US attorney general signals a potential shift in the DOJ’s stance on crypto, innovation and regulatory policies.
[Nov 2, 2024 1:30 AM] Crypto rewards received before an account freeze are taxable in the year they’re received, even if holders can’t access their funds later, the IRS says. IRS Clarifies Tax Rules for Digital Assets in Locked Accounts The Internal Revenue Service…
[Oct 11, 2024 5:43 AM] A previous case brought by Josh and Jessica Jarrett was dismissed in 2022 after the IRS conceded to refund some of the tax paid.
[Sep 22, 2024 1:30 PM] Peter Schiff has warned that the Federal Reserve’s rate cut will lead to economic disaster. Microstrategy, continuing its bitcoin acquisition strategy, plans to buy more bitcoin after raising $1.01 billion from a private offering. A bitcoin…
[Sep 18, 2024 9:00 PM] Detained in Nigeria for more than six months and with reported deteriorating health, Tigran Gambaryan likely won’t return to court until Oct. 9.
[Sep 15, 2024 1:30 AM] A bitcoin investor has pleaded guilty to underreporting his cryptocurrency gains, including $3.7 million from BTC sales, resulting in a tax loss to the Internal Revenue Service (IRS) of over $550,000. The Department of Justice emphasized that…
[Sep 14, 2024 1:30 AM] The Commodity Futures Trading Commission (CFTC) has partnered with several organizations, including the Securities and Exchange Commission (SEC), to educate the public about cryptocurrency scams, especially those involving fake romantic…
[Sep 12, 2024 11:20 AM] Missouri resident Lyell Champagne Jr. has been sentenced to three years in federal prison for fraud and tax offenses involving cryptocurrency. He and his accomplice attempted to steal funds by accessing victims’ bank accounts and filing false…
[Aug 10, 2024 6:05 PM] The U.S. Internal Revenue Service (IRS) has unveiled an updated Form 1099-DA for reporting digital asset transactions, introducing key changes that may address past criticism and privacy issues. This new version, reportedly set to be partially…
[Aug 9, 2024 9:55 PM] The latest draft form eliminated asking US taxpayers the time of day a crypto transaction occurred and identifying the “broker type.”
[Aug 9, 2024 6:17 PM] The U.S. Internal Revenue Service (IRS) has released an updated draft version of the tax form crypto brokers and investors will use to report proceeds from certain transactions, the 1099-DA.
[Aug 8, 2024 10:47 AM] The USABTC policy group proposes a groundbreaking tax-free Digital Economic Zone (DEZ) for Bitcoin to boost the US economy while securing the dollar's global dominance.
[Jul 27, 2024 10:45 AM] U.S. presidential candidate Robert F. Kennedy Jr. (RFK Jr.) has promised significant bitcoin-related changes if elected. On day one of his presidency, he plans to transfer 200,000 bitcoins to the U.S. Treasury and mandate the government to purchase…
[Jul 26, 2024 5:06 PM] The presidential hopeful gave Bitcoin eloquent praise as a future support for the US economy and way to fix broken American money and society.
[Jul 5, 2024 11:02 AM] Two former executives of Tether-backed German tech company Northern Data have filed suit against the firm, alleging that they were wrongfully terminated after raising concerns about the company’s financial health and alleging tax evasion.
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