US Senators Discuss Crypto Threat to Domestic Elections

Cryptocurrencies are “tailor-made” for foreign powers hoping to influence American elections, a security consultant told a group of U.S. senators on Tuesday. Scott Dueweke, director of threat analysis company DarkTower, was one of several witnesses appearing before the Senate Subcommittee on Crime and Terrorism to discuss the potential use of cryptocurrencies by foreign agents in order to […]

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What You Don’t Know About Crypto Taxes Can Hurt You

Steve Latham is the chairman of Claritas, a new venture that provides consolidated views of crypto holdings, gains and losses. The following article is an exclusive contribution to CoinDesk’s Crypto and Taxes 2018 series. The cryptocurrency bull run of 2017 was awe-inspiring. The resulting taxable implications are not. Tax season is in full swing but there seem to […]

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Normal Tax Rules Apply to Crypto Income, Says South Africa

South Africans can declare cryptocurrency-related taxable income under standard rules, the country’s tax agency has said. In a statement issued on Friday, the South African Revenue Service (SARS) clarified its stance on tax treatment of cryptocurrencies, explaining that taxpayers who have either traded, received or mined cryptocurrencies are expected to report gains or losses Crypto […]

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How to Mount a Tax Defense for Unreported Crypto Income

Phil Karter, a former Justice Department Tax Division trial lawyer, is currently a partner in the Philadelphia Office of Chamberlain Hrdlicka. Kevin F. Sweeney, a former federal tax prosecutor, is a senior counsel in the same office. The following article is an exclusive contribution to CoinDesk’s Crypto and Taxes 2018 series. On February 23, Coinbase, […]

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American Bar to IRS: Create Safe Harbor for Hard-Forked Cryptos

The Internal Revenue Service (IRS) needs to establish guidelines on how Americans can report gains from hard-forked cryptocurrencies, the American Bar Association Section of Taxation said Tuesday. Section Chair Karen Hawkins wrote a letter noting that “several important developments in the cryptocurrency economy have taken place” since the IRS previously issued guidance on the federal […]

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Georgia Becomes Latest State to Consider Bitcoin for Tax Payments

Two state senators in Georgia have proposed a bill that would allow citizens to pay their tax obligations in bitcoin, marking the second legislative effort of its kind to emerge this year. Public records show that the measure submitted on Feb. 21 by senators Michael Williams and Joshua McKoon would, if passed, tweak the rules governing the […]

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Korea’s Crypto Crackdown Talk Draws Backlash From Users and Politicians

More than 100,000 South Korea residents have signed petitions asking the government there to step back from any plans to close the country’s cryptocurrency exchanges. Earlier this week, the South Korean Justice Ministry announced that it was preparing legislation to close the country’s online exchanges amid a speculative boom in cryptocurrencies. That shot across the […]

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