Topic: Brief: IRS adjusts crypto tax policies in the US (Read 134 times)

IRS adjusts crypto tax policies in the US, Binance starts unscheduled maintenance and more

IRS adjusts crypto tax reporting mechanisms in the US, Celsius announces partnership with Simplex, US sheriffs auction 4,041 BTC and more news today.

IRS wants US residents to file taxes for their cryptos

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Image Pixabay


The US Internal Revenue Service (IRS ) scheduled a meeting with representatives of cryptocurrency operating companies, with the intention of establishing clear criteria applicable to the taxpayer who invests in these assets.

According to information published by the Bloomberg news agency , the IRS in the US is making significant efforts to include cryptocurrency holders in annual tax returns, with the aim of avoiding gaps that people seeking can take advantage of. bypass tax payment.

To this end, the IRS will hold a summit on March 3 in Washington DC , where they will address these issues and seek to establish applicable criteria for taxpayers who have cryptocurrencies. Originally, people residing in the country can make the respective report on form 1040, but this year's tax return will be the first to include aspects specifically associated with the possession of digital currencies.

Authorities in Ireland seize USD $ 56 million in BTC from drug traffickers
 
The Office of Criminal Assets of Ireland (CAB) reported that it seized a total of USD $ 56 million in Bitcoin funds from a drug dealer who intended to sell them through an exchange.

According to local reports, Clifton Collins, 49, tried to sell his bitcoins on a platform based in Ireland, so when detecting the large quantities available for marketing, the company notified the authorities who requested to keep the funds in custody to avoid commercialization and extraction.

Apparently these BTCs in Collins' possession were obtained at an early stage, so they multiplied their value over the years. According to the authorities, this seizure is part of a much larger process, which totals about USD $ 67 million related to the sale of drugs and illegal substances in the country.

Celsius Network enables the direct purchase of BTC, ETH, LTC, and other cryptos

Celsius Network, the platform for commercial operations with cryptocurrencies, announced yesterday that interested people will be able to buy Bitcoin, Ether, Litecoin and other cryptocurrencies with their credit/debit cards thanks to an alliance with the payment processing company Simplex.

According to a statement released by the company, Celsius will use the service onramp of Simplex to accept payments with debit and credit cards, for which they charge a fee of 3.5% on account of the operation, which represents a reduction 50% compared to other similar services.

In addition to the aforementioned, users can buy Ripple (XRP), ZCash (ZEC), Bitcoin Cash (BCH) and DASH under this mechanism.

Binance starts unscheduled maintenance
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https://www.binance.com/en/support/articles/360039975131

The crypto exchange with the largest volume of operations worldwide, Binance, announced this morning that it starts unscheduled maintenance , an announcement that generated a lot of discontent and uncertainty among community members.

According to information published in the official account of the exchange on Twitter, Binance began maintenance work shortly before 7:00 am (New York time). Users expressed their discomfort with the measure precisely for not announcing these in advance, which would have allowed them to take forecasts for the case.

Maintenance work entails the temporary suspension of operations such as deposits, withdrawals, execution of commercial orders and other properties . However, to address community concerns, Binance CEO Changpeng Zhao reported through his Twitter account that they are actively working to solve this situation and that the funds are safe, but did not report when it will work again with total normal.

However, the commercialization of BTC funds was criticized and pointed out by ecosystem analysts, who say it would have been more sensible to save these funds and market them later, since many analyzes project that the digital currency could multiply its value Current in the coming months.