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Virtual Currency Exchanges and US Customers Beware, IRS is Coming: Expert Blog

In the aftermath of Satoshi Nakamoto’s groundbreaking paper in 2009, money began travelling via a new financial route - virtual currencies. The first Bitcoin exchange was established on February 6, 2010 where Bitcoin traded for the first time for 0.3 cents.Last June, the American Institute of Certified Public Accountants (AICPA) asked the Internal Revenue Service (IRS) for more guidance on virtu

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Cryptocurrency Tax Tips, Until Tax Relief Passes: Expert Blog

*Expert Blog is Cointelegraph new series of articles by the crypto industry leaders. It covers everything from Blockchain technology and cryptocurrencies to ICO regulation and investment analysis from industry leaders. If you want to become our guest author and get published on Cointelegraph, please send us an email at mike@cointelegraph.com.The IRS says Bitcoin and other digital currencies are co

Experty Decentralized Peer to Peer Platform for Consulting Aims to Disrupt the $500 Billion USD Consulting Industry

The consulting industry is a $470 billion-dollar industry and quickly growing, but despite our move into the digital world, consultations are still stuck in the prehistoric age. Why is it that every time there is a problem with your computer you have to drive down to the computer store just to know what’s wrong with it? Why do plumbers have to drive to your residence just to tell you that you ne

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ICO Goes Extra Mile to Protect Contributors

Ask anyone in the crypto-sphere, and they’ll tell you the hot topic these days is regulation. After a couple of years of ‘wild west’ ICO and cryptocurrency explosion, governments have begun to crack down.Yet, some companies are taking the necessary steps to comply with the SEC regulations, thereby assuring their investors that they are a safe company to support. While this requires more time

Putin Orders the Issue of Russia’s National Cryptocurrency – the Cryptoruble

News Russia’s president Vladimir Putin has reportedly ordered the issue of the national cryptocurrency, the “cryptoruble.” The Russian Minister of Communications and Mass Media has revealed some details of this new currency.Also read: Putin Confirms Russia Will Regulate CryptocurrenciesPutin’s Executive OrderNikolay Nikiforov.Russia’s

South Korea Prepares to Tax Bitcoin Use

Regulation South Korea is preparing to tax bitcoin use after the cryptocurrency’s trading volume skyrocketed past that of Kosdaq. Han Seung-hee, the commissioner of the country’s National Tax Service, told lawmakers this weekend that the issue of how to best tax cryptocurrencies is being discussed, including the areas of capital gains tax, t

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Bitcoin Frightens Governments: John McAfee

Cyber security expert and Bitcoin backer John McAfee says the only fear that Bitcoin users can have is that governments will act on their own self-involved fear.The technology pioneer says the only hurdle to Bitcoin is governments trying to stop it, even though they cannot succeed at doing so.Cannot be stoppedBecause of Bitcoin’s disruptive nature, it has captured the imagination of the Internet

India’s Government Agencies Still Have ‘Concerns’ About Bitcoin

News Indian officials revealed last week that the country’s tax agency and investigation taskforce have concerns about money laundering and black market activities associated with bitcoin. India’s Special Investigation Team (SIT) is in the midst of drafting a report detailing problematic issues regarding the decentralized cryptocurrency

India Considers Issuing Its Own Bitcoin-Like Cryptocurrency as Legal Tender

Regulation While working on creating a legal framework for bitcoin and other digital currencies, the Indian government is now considering launching its own bitcoin-like cryptocurrency. The proposed government cryptocurrency is to be issued by the Reserve Bank of India (RBI).Also read: Indian Bitcoin Hotspot Bangalore Sees 50+ Merchants Add

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IRS To Go After Bitcoin and Bitcoin Cash Profits, What to Expect

Recent developments lead many to Bitcoin mining and investing in Bitcoin as many tend to believe that it is a great start for investment. Regulators and tax specialists are now looking into cryptocurrencies and how they should be treated when it comes to income taxation.Since there are currently no set guidelines and procedures as to how cryptocurrencies are being taxed, the recent split of Bitcoi

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