IRS
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Crypto’s Wild West era is over — it’s time to embrace regulation to secure the future of digital assets
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FTX debtors will pay the IRS $200M, with an outstanding lower priority claim of $685M
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There are fresh reporting requirements for crypto, but the Treasury says businesses get a pass until they can finalize the new rules
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Traders are concerned about whether or not their activities put them in legal jeopardy after new IRS rules in effect from Jan. 1
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“The goal of the Official Committee continues to be to maximize recoveries for unsecured creditors of FTX and expedite distributions,” the Official Committee of Unsecured Creditors said
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“The only source of recovery is by taking recoveries away from victims,” FTX debtors warned
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In a call with reporters Monday, division chief Jim Lee said that crypto-related tax evasion cases are mounting
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The Treasury and Internal Revenue Service pushed the deadline to submit comments on their proposed crypto regulations by two weeks
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The IRS’s proposed tax rules hinder digital asset growth by imposing restrictions that question their utility, Coinbase’s Vice President of Tax wrote Thursday
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The broker rule, introduced in August under President Joe Biden’s Jobs Act seeks to establish clear reporting standards for the crypto industry
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Their current stance is a half-baked attempt that could stifle innovation and burden an emerging industry
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Accountants and exchanges have started to parse through the new IRS tax proposals and decipher what they could mean for investors and the future of the industry
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Individuals who only engage in distributed ledger validation, including miners and stakers, are exempt from broker requirements, Treasury officials said
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A group of Democratic senators have asked the Treasury and IRS to speed up their rulemaking process for crypto tax policy
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Crypto rewards must be included in income once the taxpayer gains control over them, the IRS ruled
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Currently, the IRS uses ‘various public sources’ for finding digital asset prices, but it’s hoping to improve its selection of vendors
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Reps. Brad Sherman and Stephen Lynch earlier this week asked the Treasury and IRS to “promptly” issue regulations to address tax evasion in crypto
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A Coinbase user had attempted to argue the IRS violated his constitutional rights when it sought his trading data
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Businesses should take a look at their product offerings and think proactively about what regulators might start enforcing soon
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