Cryptocurrency News Roundup for August 26, 2020

Cryptocurrency News Roundup for August 26, 2020
фото показано с : beincrypto.com

2020-8-27 22:43

It looks like the U.S. Internal Revenue Service (IRS) has resumed its controversial campaign of sending letters to cryptocurrency holders.

Just as seen in 2019, the purpose of these letters is to warn crypto investors against dodging taxes on their digital asset holdings.

The letters, apparently sent to thousands of crypto holders across the country, can be classified into three categories. One type that the IRS refers to as “6173” warns investors that non-compliance could result in an audit.

The other two less severe types seem to educate recipients about their obligations. More on that story here. Meanwhile, in other big stories from the day:

Reddit User Suffers Copy & Paste Crypto Malware Scam

Earlier on Wednesday, a Reddit user posted a detailed account of their recent experience with a devious crypto scam that cost them $350.

While the amount lost itself might not be significant to fellow crypto users, it’s the nature of the scam that serves as a reminder to the community to stay vigilant when making transactions.

Apparently, the user wanted to cash out a chunk of their bitcoin stash on Coinbase. However, after attempting to transfer the BTC from their Binance wallet, the malware intervened and secretly changed the destination address.

Unfortunately, the user ended up sending the coins to another wallet, presumably owned by the perpetrator(s).

Read the Full Article

Outlining Bitcoin’s Potential Correction Levels [Analysis]

Bitcoin decreased sharply on August 25, creating a bearish engulfing candlestick and breaking down below an ascending support line that had been in place since July 28. The breakdown occurred with slightly above-average volume.

The short-term MACD is negative and decreasing, while the longer-term trend has already lost its strength and is moving down. It has not moved into negative territory yet.

If the price continues decreasing, there are two main support levels below the current price:

$10,900 – created by the wick-lows at the end of July and the 50-day moving average. $9,900 – created by the range high of the May – June period.

Read the Full Analysis

Bitcoin Demanded as Ransom in Austrian Bomb Threat Emails

In yet another case of cybercrime that could cause bad PR for Bitcoin, Austrian law-enforcement agencies have intercepted a large number of emails containing bomb threats against local businesses.

The perpetrators demanded approximately $20,000 in BTC in exchange for not detonating the bombs on their premises.

Furthermore, the email claimed that businesses that met the ransom demands within the allotted 80 hours would need to continue paying.

Read the Full Article

Ethereum Classic (ETC) Might Not Be a Laggard for Long

The ETC price began an upward move in September 2019, one that eventually led to a high of 137,360 satoshis on 29 January 2020. This move caused a breakout from the 110,000 satoshi area, which had previously acted as support and was expected to act as resistance afterward.

However, the higher prices could not be sustained, and ETC fell back below the range shortly afterward. The decline has continued and the price is approaching the 55,000 satoshi support area. While the RSI is falling, the MACD has been forming bullish divergence.

Read the Full Analysis

FTX Acquires Popular Crypto Portfolio App Blockfolio

Following steady growth since launch, crypto derivative exchange FTX is extending its efforts to reach the retail market. In a big stride forward, the company today officially announced the acquisition of Blockfolio, a portfolio tracking app.

The FTX CEO also confirmed that the transaction involved a mix of equity, FTX’s native token, and cash.

Read the Full Article

Tether Tops $13 Billion to Flip Bitcoin for Transfer Value Top-Spot

New data from the ‘State of the Network’ Coin Metrics report has revealed that Tether’s weekly average adjusted transfer value has finally flipped Bitcoin’s.

That value has reached over $3.55 billion per day as of August 20, which is roughly 20% more than that for Bitcoin, reporting $2.94 billion. The research attributed DeFi applications like Uniswap and Curve for the surge in USDT usage.

Read the Full Article

Ripple (XRP) Looks Ready to Rip Higher

Technical indicators for Ripple (XRP) are bullish at this juncture. The RSI seems ready to bounce at 50, and the long-term MACD has been increasing for a long period of time and has almost crossed into positive territory.

This suggests that even if the price falls below the current support area, it will likely break out above the descending resistance line.

Read the Full Article

The post Cryptocurrency News Roundup for August 26, 2020 appeared first on BeInCrypto.

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Источник: beincrypto.com

cryptocurrency letters → Результатов: 50


The Internal Revenue Service (IRS) Sends Out ‘Crypto Tax Compliance’ Letters To Investors

The U.S. Internal Revenue Service (IRS) is once again sending out letters to cryptocurrency investors notifying them to pay their taxes and those that haven’t filed their taxes correctly. The taxman is increasing its efforts in collecting crypto transaction taxes, and those yet to file could be subject to “future civil and criminal enforcement activity. […]

2020-8-26 16:21


The Taxman Is After Your Bitcoin: Harvest Your Losses Before It’s Too Late

The year is coming to an end, and a lot of people have started thinking about minimizing their tax burden. If you’re a bitcoin investor, things get even more complex. The IRS recently sent out 10,000 letters to cryptocurrency investors, and this is an indication of how serious they are when it comes to cryptocurrency […] The post The Taxman Is After Your Bitcoin: Harvest Your Losses Before It’s Too Late appeared first on Bitcoin Magazine.

2020-1-2 21:20


In-person meatspace protocol to prove unconditional possession of a private key

Recommended pre-reading: https://ethresear. ch/t/minimal-anti-collusion-infrastructure/5413 Alice slowly walks down the old, dusty stairs of the building into the basement. She thinks wistfully of the old days, when quadratic-voting in the World Collective Market was a much simpler process of linking her public key to a twitter account and opening up metamask to start firing off votes.

2019-10-2 04:03


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Australian tax Authority Warns Retirees Against Risky Cryptocurrency Investments

In a bid to remind 18,000 retirees under Self Managed Super Funds (SMSFs) of their legal duty to invest their retirement savings cautiously, the Australian Tax Office (ATO) has begun sending stern letters to some of these individuals whom have chosen to spend over 90 percent of their retirement savings in a single asset classRead MoreRead More.

2019-8-18 01:00


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Moonday Mornings: The US is suing a cryptocurrency exchange owner to the tune of $100M

Good morning, and welcome to Moonday Mornings. Let’s take a look at the cryptocurrency and blockchain headlines from over the weekend. 1. The US Internal Revenue Service (IRS) is going after digital asset traders and has begun sending them letters asking that they report their cryptocurrency holdings and pay their taxes, Coindesk reports.

2019-7-29 10:55


Nobody wants a Bitcoin ETF because cryptocurrency ‘has no intrinsic value’

We’re going to have to take a step back and rethink the whole “Bitcoin exchange traded funds (ETFs) are coming” trope. In February earlier this year, the Securities and Exchange Commission (SEC) put out a solicitation request opening the floor for the public to comment and provide their thoughts on the possibility of allowing a regulated and recognized Bitcoin ETF.

2019-3-19 17:48


Фото:

Bank of Canada Runs a Blockchain-based Pilot for a LOC Negotiation Platform

CGI, Group Inc. , a renowned IT, and business consulting firm, announced on October 21 a collaboration with the National Bank of Canada and Skuchain, a blockchain technology company aimed at optimizing the supply chain, in a pilot program to streamline and improve the process for negotiation standby letters of credit and guarantees.

2018-10-23 15:59


The Incorporation Of Blockchain And Cryptocurrency Education

The United Kingdom’s Department of Education has announced that it has no immediate plans to include cryptocurrency as a topic in the UK school curriculum.   Q1 hedge fund letters, conference, scoops etc, Also read Lear Capital: Financial Products You Should Avoid? mohamed_hassan / Pixabay   The Department of Education’s announcement is timely considering the ongoing […]

2018-6-19 14:02


Is EOS An Actual Crypto?

EOS is the world’s fifth most valuable cryptocurrency, according to Coinmarketcap with a market value of $11.49 billion.   Q1 hedge fund letters, conference, scoops etc, Also read Lear Capital: Financial Products You Should Avoid? At a time when most of the major cryptocurrencies have been hit hard and have lost a lot of their […]

2018-6-13 16:25


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IRS Plans to Hunt Down Crypto Users Who Avoid Paying Taxes

The U.S. Internal Revenue Service has secured a court order to obtain transaction records of U.S. taxpayers suspected of crypto tax evasion. The post IRS Plans to Hunt Down Crypto Users Who Avoid Paying Taxes appeared first on BeInCrypto.

NFT Market Participants Could Face Stiff Tax Penalties In the U.S.

As the NFT market boomed in 2021, so do the questions around taxation come the next tax season. Sponsored Sponsored The Internal Revenue Service wants its share of the NFT booty. There is a lack of clarity on how NFT holders should be taxed, but tax experts say taxes could be up to 37%.

IRS Seeks $32M Budget for Crypto Tax Enforcement

The U.S. Internal Revenue Service has requested a sizeable budget to investigate crypto crime and chase cryptocurrency-related taxes for 2022. The post IRS Seeks $32M Budget for Crypto Tax Enforcement appeared first on BeInCrypto.

IRS Offers $625K Bounty to Break Monero or Lightning Network Privacy

The US Internal Revenue Service is offering up to $625,000 to anyone who can successfully trace either Bitcoin Lightning Network or Monero transactions. Submitted last week, the request notes a rise in the number of both legal and illicit uses of such privacy-enhancing tools.