2023-3-22 21:14 |
The IRS is taking steps to tax NFTs like other collectibles, proposing a new framework for public review and comment. The Internal Revenue Service (IRS) is taking steps to ensure that NFTs are taxed similarly to other collectible items. This… origin »
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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.
2023-3-22 20:00 | |
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Digital proofs of ownership will be taxed like the underlying assets until rules on how to treat assets in retirement accounts are finalized
2023-3-22 17:56 | |
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The biggest news in the cryptoverse for October 19 includes the IRS classifying NFTs as digital assets for tax purposes, Cardano NFTs becoming the next gold rush, Blockchain advocacy groups filing a motion to support Grayscale in the lawsuit against SEC, and top 10 metaverse tokens crashing as interest wanes.
2022-10-20 01:40 | |
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The United States Internal Revenue Service (IRS) has released an updated draft of the 2022 tax form which has provided clarity regarding the guidelines for taxes pertaining to the crypto industry, moThe post IRS announces key changes for NFTs in latest tax guidelines appeared first on AMBCrypto.
2022-10-20 18:00 | |
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The United States Internal Revenue Service (IRS) could begin to tax non-fungible tokens (NFTs) as it has classified them as digital assets alongside virtual currencies in its updated draft instructions for the 2022 tax year.
2022-10-19 15:45 | |
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Newly released draft instructions for the 2022 tax year change the language from “virtual currency” to broader “digital assets.”
2022-10-19 02:37 | |
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Earlier this year, the US made the process of NFT trading easier by making sense of the tax and investment ramifications of NFTs and Crypto assets. Knock Knock; it’s the IRS NFTs and crypto assets are fun and games until the tax person comes knocking for their cut.
2022-3-24 04:04 | |
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Cryptocurrencies and NFTs are viewed differently than other investments by the IRS, making for a complex tax landscape.
2022-3-4 00:00 | |
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A lack of guidance on everything from staking rewards to NFTs means there’s a certain amount of guesswork involved in tax filings.
2022-2-25 17:20 | |
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The IRS is hot on the trails of cryptocurrency and non-fungible tokens. They see these as fertile grounds for fraud, including tax evasion, market manipulation, and money laundering. Unfortunately, whether it’s a celebrity or not, people are always susceptible to getting into the trap.
2022-1-28 23:00 | |
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As it grows, the crypto industry and its sectors attract more attention from regulators and political actors. In the United States, this industry seems poised for more hostility from the current administration as it is increasingly compared with illegal activities.
2022-1-27 21:00 | |
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According to a recent report by Bloomberg, the Internal Revenue Service now hopes to net Billions of Dollars in taxes from evading NFT traders. Shilled as the hottest sector now in the crypto ecosystem, the Non-Fungible Tokens (NFTs) market share has been spiraling at an unprecedented rate raking in Billions of dollars, most of which […]
2022-1-17 20:43 | |
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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 […]
2021-4-15 18:21 | |
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South Carolina has dropped a lawsuit against cryptocurrency exchange Coinbase, which accused it of offering unregistered securities. The South Carolina Attorney General’s securities division dismissed the case in a joint agreement with Coinbase, marking another win for the exchange after…
As the risk of tariff-related uncertainty persists into the second quarter, the crypto market could face another dip following the recent correction in March, analysts at Nansen say. As the industry heads into April, Bitcoin (BTC) and the wider crypto…
Wyoming is preparing to launch its stablecoin on LayerZero, called the Wyoming Stable Token, possibly by July 2025. According to the official announcement on Mar. 26, The Wyoming Stable Token Commission, which will oversee the launch, has partnered with LayerZero…
Kentucky Governor Andy Beshear has signed House Bill 701, known as the “Bitcoin Rights” bill, into law, securing key protections for digital asset users in the state. The law ensures the right to self-custody, the ability to run blockchain nodes,…
We don’t have to accept a world where using a digital currency means giving up on confidentiality, argues Georgi Koreli
With Bitcoin now in the IMF’s books and U.S. reserves, is global crypto reporting entering a new phase — despite official resistance? IMF wakes up to crypto On Mar. 20, the International Monetary Fund (IMF) published the seventh edition of…
Policymakers must balance both perceived and real concerns with the massive upside of holding a finite digital reserve asset