• Exchanging Cryptocurrencies Tax Issues

    Investors, News, Popular, Trending

    Exchanging cryptocurrencies A common transaction in cryptocurrency investing is exchanging one cryptocurrency for another cryptocurrency. This is especially true because investors frequently dabble in cryptocurrencies that cannot be directly purchased using fiat currency and can be acquired only by exchanging major cryptocurrencies such as BTC or ETH for them. From a basis calculation standpoint, exchanges […]

  • Overwhelming Response to World’s First Blockchain Bond

    Investors, News, Popular, Trending

    The world’s first public bond created and managed using onlyblockchain had support from seven investors, Commonwealth Bank of Australia the sole lead manager of the deal said on Friday, helping raise A$110 million ($80.48 million) for the World Bank. Commonwealth Bank (CBA) executive general manager James Wall said that the deal, designed to test how […]

  • How You Can Secure Your Data with Blockchain

    Flexslider, News, Popular, Trending

    Enhancement of data security that it provides is the primary benefit of using blockchain as a technology. Data is by far one of the most important assets in the world. Some of the world’s leading conglomerates like Alphabet, Amazon, Facebook, Apple, Microsoft, etc. are data-centric companies. Securing data has become the most critical priority for […]

  • How Smart Contracts Create a Competitive Edge

    News, Popular, Trending

    Blockchain technology is essential for smart contracts to work. To understand why, it’s important to remember that a blockchain is a distributed, digital ledger to which certain computers, or nodes, are granted access. The first blockchain was set up to record transactions of the digital currency bitcoin. When a transaction such as a bitcoin sale […]

  • How Do You Report Cryptocurrencies?

    News

    1. How do I report cryptocurrencies? While government regulation surrounding bitcoin and other cryptocurrencies is still in flux, it’s clear that users hoping to use crypto to skirt regulations entirely are no longer able to operate in the shadows. A November decision by a federal district court in California forced popular crypto-trading site Coinbase to […]

  • Barclays Helps Coinbase Enter UK Market

    Exchanges, News, Trending

    Barclays BCS -1.02% PLC has become a rare global bank to embrace the cryptocurrency sector by signing exchange operator Coinbase as a customer. Deposits from Coinbase users in the U.K. will be held in a new customer account at Barclays, Coinbase UK Chief Executive Zeeshan Feroz said Wednesday, amid what he called “a huge surge of interest” in […]

  • Sorry, America, You Have to Pay Taxes on Your Bitcoin

    Flexslider

    Because bitcoin and other cryptocurrencies are seen as property by the U.S. government, capital-gains taxes apply to every transaction made. Even if you were just buying a cup of coffee with bitcoin you have to report every transaction using bitcoin. Each sale or purchase technically constitutes two transactions: (1.) selling property (bitcoin) and (2.) using […]

  • Coinbase Provides 13,000 Account Holder Details for 2013-2015 to the IRS 

    Flexslider

    On February 23rd, 2018, Coinbase notified a group of approximately 13,000 customers concerning a summons from the IRS regarding their Coinbase accounts. Please refer to this document for the court’s judgment. The court ordered Coinbase to provide taxpayer ID, name, birth date, address, and historical transaction records for certain higher-transacting customers during the 2013-2015 period. Source: […]

  • Puerto Rico Governor Bullish on Blockchain 

    Flexslider

    Cryptocurrency aficionados have been flocking to Puerto Rico, attracted by a provision that exempts relative newcomers to the island from paying taxes on their capital gains. But the governor of Puerto Rico is not quite sold on crypto. “Cryptocurrency is sort of an application of that — I am concerned with some of the reports […]

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