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Bitcoin

When the Taxman Comes Knocking, Will Americans Report Crypto Gains? (bitcoinmagazine.com)

Cryptocurrency investors appear to be skirting their taxes. Whether keeping with crypto’s anti-establishment roots or for lack of ability, American cryptocurrency practitioners are testing the IRS’s tolerance for crypto tax evasion.Tax day in the United States is tomorrow, April 17, 2018, but according to the popular tax filing service Credit Karma, few cryptocurrency holders have reported earnings or losses on their 2017 tax documents. Out of the company’s 250,000 new filings, under 100…

Bitcoin

South Korean Exchange Paying Users to Report Illegal Crypto Schemes (news.bitcoin.com)

The Kakao-backed cryptocurrency exchange Upbit has launched a system to reward users for identifying fraudulent multi-level schemes related to cryptocurrencies. The exchange has already identified and reported 20 such schemes to the police.
Also read: Japan’s DMM Bitcoin Exchange Opens for Business With 7

Bitcoin

IRS Reminds Taxpayers to Report Virtual Currency Earnings (news.bitcoin.com)

The United States Internal Revenue Service (IRS) recently published a document reminding taxpayers that income derived from virtual currency transactions must be reported on income tax returns. The IRS states that taxpayers who fail to report virtual currency earning may be audited or made liable for “penalties and interest.”
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Bitcoin

Bitcoin plunges 7%, then bounces back, after report of Twitter ad ban

Year to date, bitcoin is down 40%, after peaking at an all-time high above $ 19,000 in late December. Still, bitcoin is up 654% over the past year. Other cryptocurrencies fared better Sunday: ether gained 2%, Ripple jumped almost 11% and bitcoin cash rose nearly 2%. Bitcoin futures contracts fell as well …
Google Alert – bitcoin

Bitcoin is falling out of favor with one key constituency—criminals, says report

The price of the No. 1 digital currency, bitcoin, has been on a punishing tailspin of late, falling 40% in 2018 and more than 70% since its peak in December of 2017. And perhaps adding insult to cyber injury, the popular virtual currency finds itself out of favor with another group of users. According to a …
Google Alert – bitcoin