Baskadia

US Treasury reiterates that the IRS won't consider crypto miners, stakers or coders to be brokers

In a letter to a group of senators, the Treasury has said that it does not plan to treat miners and stakers as brokers for the purposes of tax reporting. The concern comes after the Infrastructure Bill left such determinations up to the Treasury. In a February 11 letter seen by The Block, the Treasury reassured six concerned senators that it did not plan to treat crypto miners, stakers and wallet providers as brokers for tax purposes. "Existing regulations impose broker reporting obligations onl

Hesitating To Buy Bitcoin by Fear of a Bear Market? 4 Proven Tips To Profit No Matter What.

After a euphoric start to the year, reaching a new All-Time High (ATH) close to $65K in April 2021, the price of Bitcoin came to a serious halt in May 2021. FUD (Fear, Uncertainty, and Doubt) took over from the fundamentals, and a crash in the price of Bitcoin sent its price plummeting to around $30K. This was enough for some to announce the beginning of a Bear Market for Bitcoin. In my opinion, we are not there yet. The Bitcoin Bull Market is still here, and I see more of an accumulation period for the next few weeks. A period that will seem boring as always to all those who only think about making a quick buck with Bitcoin. And there are many of them!

Crypto investors build Bitcoin mines to avoid paying taxes — thanks to Trump

In the US, tax-shy crypto enthusiasts are building new Bitcoin mining plants in struggling rural areas to take advantage of a controversial Trump-era loophole intended for the poor, reports HuffPost. Republican legislation introduced in 2017 allows companies and investors to reduce their tax bills when selling off assets like crypto or stocks — provided they use the money to fund projects in so-called “opportunity zones.” Opportunity zones were introduced to give a leg-up to the most deprived ar

Ripple Could Face Rejection at $1

Key Takeaways XRP has gained over 68% in market value in the past two weeks Even though prices could advance towards $1, a correction appears imminent A spike in selling pressure could push XRP to $0.85 or even $0.75 ...75. Ripple has seen almost 68% gains over the last two weeks; still, the cross-border remittance token could be bound for a retracement before its uptrend resumes. XRP Approaches Overbought Territory XRP appears to be gearing for a correction after incurring significant gains. T

Bitcoin