The Justice Department is claiming that it’s “critical” for it to have the power to seize cryptocurrency from Americans — even if a judge never signs off. As the Internal Revenue Service (IRS) pushes forward with its proposal to increase cryptocurrency surveillance, a past report might offer a clue for how this information may be…
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DeFi Education Fund (DEF), a crypto research and advocacy group, and crypto investment company Paradigm have filed a separate amicus brief supporting James Harper’s lawsuit against the US Internal Revenue Service (IRS). Paradigm confirmed Friday that the amicus brief urges the Supreme Court to reverse the district court’s decision in the James Harper lawsuit and…
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The IRS is looking to require crypto service providers to collect unprecedented swaths of data about their users — including names and Social Security numbers. For two years, the cryptocurrency world has been waiting to see how the Internal Revenue Service (IRS) would implement the Infrastructure Investment and Jobs Act. Put simply, this law established new…
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The IRS proposed the new crypto tax reporting rules in August, and if approved, the new crypto tax regime will come into effect from January 2026. Coinbase crypto exchange chief legal officer Paul Singh Grewal called upon the crypto community to join the movement against the United States Treasury’s proposed tax reporting regulations on cryptocurrencies.…
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SBF’s former girlfriend admits to fraud during her time as CEO of Alameda Research. Last week, the FTX court saga had elements of a TV drama, with Sam “SBF” Bankman-Fried’s former business associate and girlfriend, Caroline Ellison, sharing some shocking stories about SBF’s rule over the company. Ellison admitted to fraud during her time as…
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Coinbase, the largest cryptocurrency exchange, argues that the U.S. Internal Revenue Service (IRS) proposal regarding cryptocurrency tax regulations could potentially harm both the cryptocurrency industry and the privacy of American citizens…. Read More: Coinbase Raises Concerns Over Proposed IRS Tax Regulations on Crypto Read more »Sign up for e-EUR – the progressive stablecoin
Seven U.S. senators have called on the Treasury Department and the Internal Revenue Service (IRS) to “implement the proposed crypto broker reporting rule as rapidly as possible.” The lawmakers stressed: “We are alarmed by the self-inflicted two-year delay for the rule’s implementation.” Senators Want Crypto Tax Reporting Rule Implemented Swiftly Senators Elizabeth Warren, Angus King,…
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Members of the U.S. Congress have expressed concerns about the possible problems that implementing the newly proposed crypto tax reporting requirements could create in the entire industry. Patrick McHenry, Cynthia Lummis, and others reacted differently to the potential effects of these proposals on decentralized finance platforms and stablecoins. U.S. Congress Members Concerned Over New Tax…
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The United States Internal Revenue Service has released proposed regulations on the sale and exchange of digital assets by brokers. The United States Internal Revenue Service (IRS), which is responsible for tax collection in the United States, has released proposed regulations on the sale and exchange of digital assets by brokers. Under the rules, brokers…
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House Financial Service Committee Chair Patrick McHenry said the rules are part of “the Biden Administration’s ongoing attack on the digital asset ecosystem.” The Internal Revenue Service (IRS), the agency responsible for tax collection in the United States, released proposed regulations on the sale and exchange of digital assets by brokers. Under the rules, brokers…
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