US Treasury, IRS propose cryptocurrency regulations for brokers
Brokers — referred to as “digital asset middlemen” in the regulatory proposal — will be required to provide information on gains and losses incurred during the sale of crypto assets.
Brokers — referred to as “digital asset middlemen” in the regulatory proposal — will be required to provide information on gains and losses incurred during the sale of crypto assets.
The United States Internal Revenue Service has released proposed regulations on the sale and exchange of digital assets by brokers.
Robinhood’s Bitcoin holdings could reshape the crypto landscape by supercharging the influence of retail investors and possibly creating new market risks.
House Financial Service Committee chair Patrick McHenry said the rules are part of “the Biden Administration’s ongoing attack on the digital asset ecosystem.”
The crypto advocacy group’s suggestions included a de minimis exemption for crypto transactions and having the IRS provide guidance on block rewards, airdrops and hard forks.
A body representing FTX customers said it is “extremely disappointed” by the company’s reorganization plan.
The U.S. tax department will be requiring taxpayers to count staking rewards as gross income at the time they gain "dominion" over the tokens.
A couple who filed a lawsuit over how staked Tezos tokens were taxed has gone to appellate court after refusing to accept a refund check from the IRS.
The agencies have worked together for years, but now their joint efforts are official as they plan to ramp up activity.
Intuit is launching an operating system for generative artificial intelligence that will feature AI models trained on the company’s financial data.