This Week’s Winners and Losers in Crypto
Big week in crypto! Banks going down causing BTC to go up. Alts (sort of) following suit. But who are the biggest winners and losers for the week? Biggest Winner(s): Arbitrum Airdrop Participants Thursday was a big day for those eligible for the coveted Arbitrum airdrop, but there were bumps along the way. The claim site was down from almost moments when it went live, and was nearly inaccessible for hours. However, after the dust settled, the price hovered above what estimates predicted (>$1)...
Post FTX: Bananas In The Bahamas
FTX’s spectacular implosion sent ripples which was felt by all through the cryptoverse, but has also hit the people of the Bahamas, where FTX was headquartered. According to a report in the WSJ, the island nation initially welcomed FTX with it’s lax and favorable crypto laws and eventually the locals became the supporting cast for FTX employees. Catering, security, transportation, event planning, logistics and many more services were required and the locals began taking up these jobs, creatin...
STOCK Act Gets Busted
Nancy Pelosi might not be too keen on the reformation bubbling up in her backyard. On Thursday, a new framework was released to change the policy known as the STOCK Act, aka "Stop Trading on Congressional Knowledge", which puts the onus on congressional and government leaders to disclose stock and asset purchases, in order keep transparency with the public. Historically, there have been quite a few calls on leaders to stop purchasing stocks because of the potential of insider knowledge on upc...
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This Week’s Winners and Losers in Crypto
Big week in crypto! Banks going down causing BTC to go up. Alts (sort of) following suit. But who are the biggest winners and losers for the week? Biggest Winner(s): Arbitrum Airdrop Participants Thursday was a big day for those eligible for the coveted Arbitrum airdrop, but there were bumps along the way. The claim site was down from almost moments when it went live, and was nearly inaccessible for hours. However, after the dust settled, the price hovered above what estimates predicted (>$1)...
Post FTX: Bananas In The Bahamas
FTX’s spectacular implosion sent ripples which was felt by all through the cryptoverse, but has also hit the people of the Bahamas, where FTX was headquartered. According to a report in the WSJ, the island nation initially welcomed FTX with it’s lax and favorable crypto laws and eventually the locals became the supporting cast for FTX employees. Catering, security, transportation, event planning, logistics and many more services were required and the locals began taking up these jobs, creatin...
STOCK Act Gets Busted
Nancy Pelosi might not be too keen on the reformation bubbling up in her backyard. On Thursday, a new framework was released to change the policy known as the STOCK Act, aka "Stop Trading on Congressional Knowledge", which puts the onus on congressional and government leaders to disclose stock and asset purchases, in order keep transparency with the public. Historically, there have been quite a few calls on leaders to stop purchasing stocks because of the potential of insider knowledge on upc...
Share Dialog
Share Dialog
Does anyone remember past year’s tax returns, with that really vague “digital currencies” question that some people might have skipped over? Well looks like this year’s tax return will have a solid amendment that should make the question indisputable if you do own any crypto-assets — “digital assets”. According to a new IRS tax return draft posted by the government agency, they decided to create a more broad and defined category that will require an actual yes or no answer as to whether or not one has interacted with digital assets in any way, including receiving them as gifts, being paid for a service, transacting with the asset, etc.
Welp, the crypto tax ignorance some have come to enjoy is coming to an end. And, we all knew this change was going to come sooner than later. Remembering the amount crypto entities whom are being sued for evading taxes as of late, it’s probably safe to say that it cannot be successfully ignored any longer. However, it’s still not fair. Crypto-assets are being taxed at high rates, only because of lack of legislation on the matter. There are crypto-friendly lawmakers who can take action on this for our community, but there haven’t been the kinds of strides the we’ve been hoping to see by now. Unfortunately, all we can do is pay our taxes, and wait for now. I have hope change will come soon.
Written by: nikethereum.eth / Medium / Mirror
Does anyone remember past year’s tax returns, with that really vague “digital currencies” question that some people might have skipped over? Well looks like this year’s tax return will have a solid amendment that should make the question indisputable if you do own any crypto-assets — “digital assets”. According to a new IRS tax return draft posted by the government agency, they decided to create a more broad and defined category that will require an actual yes or no answer as to whether or not one has interacted with digital assets in any way, including receiving them as gifts, being paid for a service, transacting with the asset, etc.
Welp, the crypto tax ignorance some have come to enjoy is coming to an end. And, we all knew this change was going to come sooner than later. Remembering the amount crypto entities whom are being sued for evading taxes as of late, it’s probably safe to say that it cannot be successfully ignored any longer. However, it’s still not fair. Crypto-assets are being taxed at high rates, only because of lack of legislation on the matter. There are crypto-friendly lawmakers who can take action on this for our community, but there haven’t been the kinds of strides the we’ve been hoping to see by now. Unfortunately, all we can do is pay our taxes, and wait for now. I have hope change will come soon.
Written by: nikethereum.eth / Medium / Mirror
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