2023-3-22 20:00 |
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. origin »
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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…
2023-3-22 21:14 | |
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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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A proposal to ban sports and political prediction markets issued under the Biden administration has been formally withdrawn by the Commodity Futures Trading Commission. According to a Feb. 4 statement from CFTC Chair Michael Selig, the 2024 proposal reflected what…
A senior Democratic lawmaker has launched a formal investigation into World Liberty Financial Inc (WLF), demanding information and documents over reported foreign investments and potential links between the crypto company, national security policy, and U.
U.S. Treasury Secretary Scott Bessent told lawmakers this week that the federal government lacks the legal authority to bail out Bitcoin or direct banks to purchase cryptocurrencies. His remarks emphasized the limits of government intervention as digital assets face renewed…
Stablecoins should be treated as governed, auditable money, so real-world adoption stops feeling far off and finally achieves the needed scale
Crypto exchange Bybit has announced plans to launch retail banking services on its platform starting next month. Dubbed “My Bank,” the new product has been slated for launch in February, according to CEO Ben Zhou, who announced the offering during…
Instead of a simple BTC acquisition, active treasuries may run secure networks and stake treasury assets to generate yield for investors.
The next generation of financial infrastructure isn’t just code; it’s governance, security, risk architecture, and regulation.