The IRS stipulates that cryptocurrencies are considered property, so their purchase, exchange, and trading may trigger capital gains or losses, which must be reported according to capital gains tax. In addition, income from mining, airdrops, and hard forks must also be taxed.
JinseFinanceIn 1789, Benjamin Franklin famously said, "In this world, nothing is certain except death and taxes." The IRS now plans to close a major tax loophole for the wealthy, potentially raising over $50 billion in revenue over the next decade, according to the U.S. Treasury Department.
WilfredThe MEV tax redistributes MEV, returning MEV profits that would otherwise have gone entirely to searchers to applications.
JinseFinanceFTX, the bankrupt crypto exchange, challenges the IRS's $24 billion tax claim, deeming it "absurd and meritless." The fluctuating tax bill, currently at $24 billion, covers income and employment taxes from 2018 to 2022. FTX emphasizes the need for a fair resolution to protect bankruptcy victims. The upcoming court hearing on December 13 will play a crucial role in determining the distribution of FTX's remaining assets.
BerniceWhile the global crypto market is beginning to become saturated, some have started to sneak their way out of reporting ...
BitcoinistThe cryptocurrency space has been on the grayer side of the financial space since its conception.
BitcoinistHostile App Store rules won’t let crypto developers build
BanklessFirst article in a series of articles about crypto taxes: Understanding crypto tax implications is critical whether an experienced crypto trader or gift receiver.
M6 LabsHere are the NFT-related rules of thumb to consider when filing your 2022 taxes.
CoindeskDeFi Pulse, a leading authority on the DeFi space, calculates that the combined value of all deposits within DeFi protocols ...
Bitcoinist