Ethereum’s Merge Triggers Confusion Over Tax Status In The UK: Here’s How

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Ethereum Merge and the hefty tax bill you could be in for

The Ethereum Merge may constitute a taxable event if it results in a chain-splitting hard fork, tax experts warn.

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CryptoSlate Wrapped Daily: Bitcoin maximalist Saylor getting sued for tax fraud, volatility expected ahead of Ethereum’s Merge

The biggest news in the cryptoverse for August 31 includes  US Congress asking 5 crypto exchanges to explain how they are combatting crypto fraud, Michael Saylor getting sued for tax fraud in Washington, and Christopher Hamilton being extradited to the United States for trial on OneCoin Scam.

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Ethereum: $300M in non-crypto assets and here's why you should give an "EF"

It's that time of year when you squint at your receipts and tax forms to better understand your financial habits. If that sounds daunting, you can rest assured that even those who run crypto projects The post Ethereum: $300M in non-crypto assets and here's why you should give an "EF" appeared first on AMBCrypto.

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Ethereum Tops $3,000 As Bull Rally Continues, Hitting Its Highest Level Since May

On August 7, Ethereum crossed above $3K in an ongoing crypto market rally, hitting a three-month high. ETH Is Breaking Out The past few days have been interesting for the crypto markets. Talk regarding dueling amendments to a cryptocurrency tax reporting requirement in the United States bipartisan infrastructure bill being passed in Congress has been […]

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Vitalik Buterin Donates Over $1 Billion worth of SHIB to India Covid Relief Fund 

Vitalik Buterin, the Russian-Canadian founder of Ethereum and vocal proponent of a wealth tax,  donated Ethereum and “meme coins” worth over $1billion to India’s Crypto Covid Relief Fund and a range of other charities.

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Biden’s Tax Plan Could be Bullish for Ethereum but Bearish for Bitcoin

Joe Biden, the United States president, is reportedly in the process of proposing a tax law targeted at the wealthiest Americans. The news surfaced at a bad time for cryptocurrency investors who are not exactly in their happiest of moods, and rightfully so.

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Bought NFTs? There’s A Tax For That, And Other Ways The IRS Is Eyeing Crypto

NFTs volume is dropping after an initial bubble-like storm of interest and millions pouring into the emerging digital goods market. But it could be because crypto investors are realizing as they wrap up last year’s taxes – extended to May 17 in the United States – that buying such tokens with Ethereum results in a […]

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The True Power of ERC-20 and ERC-721 Tokens

Unless you have been living under a rock, you will have heard about Ethereum. It is a blockchain that has given Bitcoin a run for its money over the years. A decentralized protocol, meaning no interference from Governments, intermediaries or even the tax man, it allows developers to build their own open-source decentralized apps, withRead More

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“NFT Tax Shock” Awaits Those Who Pay with Bitcoin or Ethereum for NFTs: CNBC Warns

CNBC has revealed that those are now buying NFTs with BTC or ETH will have to face a “big surprise tax”, here’s why

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Zug Becomes First Swiss Canton to Accept Bitcoin and Ether for Tax Payments

The Swiss Canton of Zug, which has the highest concentration of hedge funds, cryptocurrency firms, and commodity traders, announced that it will now start accepting Bitcoin and Ethereum for tax payments from February 2021.

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Ethereum Suffers from Fundamentals Flaws — Is it the New Normal?

The fees on Ethereum had reached the highest since 2015 when it launched, surging past $7. More than 17,500, $6.8 million are currently being spent on fees daily on the network. Spencer Bogart, general partner at Blockchain Capital, “Mempools are getting more competitive as value at stake for pending crypto tax increases. This increased competitiveness […]

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$44 Bln Worth of Miners to be Fired by ETH Soon, I?d Love a Lot of Them to Join Ethereum Classic: Cardano Founder

Charles Hoskinson hopes to lure a lot of the miners that Ethereum is going to ditch soon and get them to mine Ethereum Classic, as well as to impose a mining tax on them

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IRS Tax Warnings on Ethereum’s Fifth Anniversary

Since the time Ethereum was born, the crypto-tax landscape has dramatically changed, and that is where we are now.

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Crypto tax around Ethereum staking requires a lot more clarity

The cryptocurrency world continues to lack regulations that can help it function efficiently and this has been a hurdle not just for transacting in virtual currency but also when it comes to holding iThe post Crypto tax around Ethereum staking requires a lot more clarity appeared first on AMBCrypto.

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How to Report Bitcoin Forks and Ethereum Airdrops on Your Taxes

The advent of Bitcoin, Ethereum, and other cryptocurrencies has introduced unprecedented ways to distribute new assets, creating complex tax situations. Here’s how to account for forks and airdrops, and a...The post How to Report Bitcoin Forks and Ethereum Airdrops on Your Taxes appeared first on Crypto Briefing.

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Refundo makes income tax refunds available in Bitcoin Cash, Ethereum, and Ripple

Refundo, a provider of tax-related financial products and services, is once again making federal and state tax refunds available in cryptocurrency. Last year, Refundo introduced CoinRT, a service that allowed taxpayers to receive their federal and state tax refunds in Bitcoin (BTC).

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XRP Tax Refunds Become Available for All American Taxpayers

More than 141 mln US taxpayers can now receive their tax refunds in XRP, Ethereum (ETH), and Bitcoin Cash (BCH)

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Ethereum's (ETH) Vitalik Buterin Dismisses The Idea Of 'Transaction Tax'

Recently, Bitcoin Cash (BCH) fat cats proposed the idea of a short-term 12,5% transaction tax for ecosystem development.

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Is Bitcoin the Answer to Trump’s ‘Generosity’ Towards Banks?

Could Bitcoin mend a system where President Trump is being extra generous toward banks through tax cuts?  JP Morgan Profits Dwarf Ethereum US bankers have been laughing all the way to the bank last year, quite literally.

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Residents Of A Canadian City Will Soon Pay Property Tax Using Bitcoin (BTC)

Richmond Hill,Ontario is the latest Canadian city that will soon accept Bitcoin (BTC) as a form of payment for Property Tax The post Residents Of A Canadian City Will Soon Pay Property Tax Using Bitcoin (BTC) appeared first on Ethereum World News.

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Israeli hacker allegedly stole $1.7M in cryptocurrency from Europeans

A cybercriminal from Israel is facing a long list of felonies associated with the supposed theft of $1. 7 million (6. 1 million NIS) in various cryptocurrencies. The perp, 31-year old Eliyahu Gigi from Tel Aviv, reportedly stole Bitcoin, Ethereum, and Dash from various foreigners, including Belgians, Dutch, and Germans, Israeli news reports.

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Singapore’s inland revenue authority releases new draft on GST for crypto

The Inland Revenue Authority of Singapore (IRAS) recently published a draft guide that detailed the conduct of goods and services tax (GST) towards cryptocurrency transactions, since there has been an increase in the use of cryptocurrencies as a mode of payment.

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A Lottery Where You Can Only Win Launches on Ethereum

Tens of billions are spent every year on lottery in the United States alone, with almost no one winning. Some call it a stealth regressive tax on the poor. Others... The post A Lottery Where You Can Only Win Launches on Ethereum appeared first on Trustnodes.

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Crypto Taxation Rules in Australia are Wildly Unjustified

A resident of Australia paid a whopping $100,000 of tax on Ethereum coins currently worth $20,000, pushing the investor into a net loss from a freak tax event. The rules for taxation of cryptocurrency in Australia are unfair to investors and holders, leading experts to call for reform, as reported by Micky on June 24, 2019.

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Italy’s Economic Problems a Boon for Bitcoin (BTC)

Given the superiority of Bitcoin, if Italian tax authorities go after savings in vaults, owners will likely pour into BTC, pumping prices. The post Italy’s Economic Problems a Boon for Bitcoin (BTC) appeared first on Ethereum World News.

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Ernst & Young (EY) Head of Innovation: Over 80% Ethereum Dapps Are Not Utilized Efficiently

Ernst & Young’s (EY) head of innovation has come out and said that about 83% of decentralized applications on the Ethereum network are unproductive. Paul drives EY initiatives and investments in blockchain technology across consulting, audit and tax business lines.

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Coinbase Card Set for Tests, But the IRS is Watching

Although CoinBase Card will spur adoption, allowing for US clients to spend their coins, the IRS will tax any event--conversion or spending. The post Coinbase Card Set for Tests, But the IRS is Watching appeared first on Ethereum World News.

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CoinBase Card Set for Tests, But the IRS is Watching

Although CoinBase Card will spur adoption, allowing for US clients to spend their coins, the IRS will tax any event--conversion or spending. The post CoinBase Card Set for Tests, But the IRS is Watching appeared first on Ethereum World News.

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Crypto is Inevitable so is KYC–AML Rules, Australia Crackdown

Crypto traders in Australia who have some dark corners in their closet have a reason to worry. The tax man has vowed to flash them out. The tax authority in the country, Australia Tax Office. . .

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KPMG States: Out of 1,500+ Cryptos; Bitcoin, Ripple, Ethereum, & IOTA are the “Most Important”

There are four most important cryptocurrencies viz Bitcoin (BTC), Ripple (XRP), Ethereum (ETH), and IOTA (MIOTA) as per KPMG’s insight blog titled, “Cryptocurrencies: Do they matter to corporate treasuries?” One of the Big Four auditors KPMG is a network of professional service firms that provides tax, advisory, and financial audit services. With large companies like […]

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US Citizens Can Now Accept Federal or State Tax Refunds in Bitcoin (BTC)

Because a joint endeavor between BitPay and Refundo, taxpayers can now earn BTC through BitPay, the world's largest crypto payment provider. The post US Citizens Can Now Accept Federal or State Tax Refunds in Bitcoin (BTC) appeared first on Ethereum World News.

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Philip Morris To Track Tax Stamps Using Blockchain Technology

Megacorporation Philip Morris announced it is developing a public blockchain platform to track tax stamps on packs of cigarettes. The company is modifying Ethereum, as well as MultiChain's build-your-own-blockchain platform, to create its blockchain.

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President Trump’s Proposed Remittance Tax is Pushing Bitcoin Adoption

President Donald Trump’s proposed remittance tax, which would levy additional fees on money being sent outside of the United States in an effort to curb immigration, could have the end effect of driving cryptocurrency adoption.

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Ethereum’s Vitalik Buterin Clashes With Bitcoin-Basher ‘Dr. Doom’

Perennial Bitcoin basher and anti-cryptocurrency campaigner, Nouriel Roubini and Ethereum founder Vitalik Buterin had a heated debate at the second edition of the Deconomy blockchain event in Seoul, South Korea.

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Voters Bombard 2020 Presidential Hopeful Andrew Yang with $1,000 Facebook Invoices

Andrew Yang, the New York non-profit entrepreneur and 2020 Democratic presidential candidate who’s a bull for bitcoin and ethereum – as well as Universal Basic Income (UBI) – owes 22 political activists $22,000 toward making UBI a reality – at least according to the activists themselves.

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Crypto Tax Calculator CoinTracking.info Rolls Out Ease-of-use Upgrades

If you trade cryptocurrency, reporting your gains or losses at tax time is not only a smart thing to do– it’s a must. If you earned a profit, failing to disclose it will come back. . . The post Crypto Tax Calculator CoinTracking.

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Trader’s Reprieve: Turbo Tax now has a “I sold or Traded Cryptocurrency” option

It’s around that time of the year and as government workers resume after one of the longest shut-down in US history, the IRS will soon be ready to knock on your doors. Like everywhere else, filing for taxes is a mandatory and crypto traders, investors and holders must comply.

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Coinbase Integrates TurboTax to Help its US Customers File Crypto Taxes

The American tax season is an annual period between late January till around mid April. With the government shutdown temporarily suspended for three weeks, employees at the Internal Revenue Service (IRS) will soon be reporting to work to start this year’s tax return season.

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South Korea Supports Blockchain with Tax Credit

Blockchain, Cryptocurrency–South Korea has continued its progressive stance towards cryptocurrency and the innovation it offers for fintech by providing tax incentives for blockchain development.

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Bitcoin, Ripple, Ethereum, Bitcoin Cash, EOS, Stellar, Litecoin, Bitcoin SV, TRON, Cardano: Price Analysis, Dec. 28

Some believe the current dip is due to the expiration of Bitcoin futures on the CME and some last minute tax selling. Let’s consult the charts

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Wall Street Journal Suggests Method for Lowering Bitcoin (BTC) Taxes

Bitcoin (BTC), Cryptocurrency, WSJ–While the falling crypto marketplace throughout 2018 has hurt investor wallets, it may provide some relief come tax season. According to an article published by The Wall Street Journal on Dec.

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Lost Money Trading Crypto This Year? Here’s How to Recoup Your Losses at Tax Time

Last Thanksgiving, Bitcoin was in the middle of a bull run that would result in a record high of $19,511 just before Christmas. Now, Bitcoin is worth just $3,752. If you bought Bitcoin and other cryptos when their prices were high, there’s a silver lining around the gray state of crypto markets now: any losses […] The post Lost Money Trading Crypto This Year? Here’s How to Recoup Your Losses at Tax Time appeared first on Ethereum World News.

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Governments Are Taking Wrong Approach to Cryptocurrency Taxation

Cryptocurrency, Taxes–Earlier today EWN reported on a development by several different countries, including Japan, to impose more severe regulations and protocols for catching so-called “cryptocurrency tax evaders.

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Japanese Government to Track Down Cryptocurrency Income Tax Offenders

The Japanese government will establish a system that would track down individuals who refuse to pay tax on profits made from cryptocurrency transactions. Tax Payments on Cryptocurrency Capital Gains News coming from a Japanese newspaper, The Mainichi, reports that according to sources, the Japanese government is planning to form a system that would monitor individuals […] The post Japanese Government to Track Down Cryptocurrency Income Tax Offenders appeared first on Ethereum World News.

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South Korea Mulls Imposing Taxes on Cryptocurrency ICO

The South Korean government reportedly has plans to tax cryptocurrency and ICOs, despite the lack of a regulatory framework. Cryptocurrency ICO Taxation Policy According to The Korea Times, Hong Nam-Ki, Finance Minister nominee, revealed that the South Korean government is planning to tax cryptocurrency and initial coin offerings (ICO).

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Bitcoin Tax Payments in Ohio is Now a Possibility

Ohio might just become the first state to successfully adopt Bitcoin as tax payment, after failed attempts from other states in the country. Ohio’s Cryptocurrency Initiative Set to Fly High According to the Wall Street Journal, businesses in Ohio can now pay its taxes, ranging from taxes from cigarette sales to employee taxes, using the […] The post Bitcoin Tax Payments in Ohio is Now a Possibility appeared first on Ethereum World News.

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Bitcoin Price Analysis: BTC/USD Stable at $4,000, Paraguay Gives Green Light For the World’s Largest Crypto Mining Center

Latest Bitcoin News Coinciding with BTC market pull back is morale boosting news that the US state of Ohio will begin accepting tax payments in Bitcoin. Spearheading this drive is the State Treasurer, Josh Mandel, who term the move efficient, secure, transparent and cheap especially for merchants and businesses that in days to come will […] The post Bitcoin Price Analysis: BTC/USD Stable at $4,000, Paraguay Gives Green Light For the World’s Largest Crypto Mining Center appeared first on Ethereum World News.

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Australian Tax Regulator Warns Against Tax Payment Scams Involving Bitcoin ATMs

As tax payment draws near, the Australian Taxation Office is warning taxpayers against imminent tax scams involving the use of Bitcoin ATMs. Details of the Warning According to an article published by the Australian Taxation Office (ATO) on its homepage, Australian taxpayers are warned to be on the alert for possible tax scams.

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