For those trading in cryptocurrencies, crypto trading platforms are required to provide you with a form 1099 for use on your taxes. When doing so, the IRS is also notified of the information contained on the tax form. And although you will receive either a form 1099-K or a 1099-B, it is not always…
Bitcoin is a hot commodity lately. This cryptocurrency is usually at the top of experts’ and users’ lists of recommendations for investments in the digital world. If you’re thinking about using Bitcoin or have already started your crypto journey, there are steps you can take to secure your currency. Here’s how to protect your…
The crypto space has been quite volatile over the past weeks, but holders of Ethereum (ETH) are, no doubt, quite pleased with the latest turn of events. Ether, the actual cryptocurrency of the network, has recorded its biggest jump in 20 days, and it seems likely that there is going to be a lot…
The SEC has produced new evidence in its case against Telegram, which shows that the company was engaged in trading Gram tokens several months after its initial coin offering (ICO). Messaging app Telegram has been embroiled in a lawsuit with the US Securities and Exchanges Commission, which alleges that US$1.7 billion raised from the…
One of the most crucial events in the lifetime of most cryptocurrencies is its halving event. Bitcoin Cash (BCH) had its much-anticipated halving on Wednesday. BCH had its first block reward halving yesterday, and the event resulted in a rally in the cryptocurrency. After the halving, BCH soared by 15% over the past 24…
Japan-based Liquid Exchange has canceled the sale of Telegram’s Gram tokens and returned funds to customers as the messaging app company remains embroiled in an SEC lawsuit. The exchange has said that it is acting in compliance with the investor agreement, which states that Telegram’s Open Network (TON) should have been launched by October…
XRP is now the third-biggest cryptocurrency in the world by market cap, and much of the credit for its success goes to the San Francisco-based Fintech company, Ripple Labs. In a new development that should come as a major boost to Ripple holders, the company announced on Monday that it has come up with…
The Libra Association, the non-profit organization overseeing Libra, has established a five-member Technical Steering Committee (TSC) to oversee and coordinate the technical design and development of the Libra network. The responsibilities of the TSC are to direct the technical roadmap of the Libra network, form working groups to fast track research into specific issues,…
The crypto sphere has seen a lot of buzz over the past few months with regards to the Bitcoin halving that is going to take place in May. Bitcoin is the biggest cryptocurrency in the world, and it is only natural that the upcoming halving event has caused such a stir in the crypto…
Three plaintiffs who have been involved in three separate lawsuits against Tether and its sister company Bitfinex have moved to consolidate their cases into one class-action suit. Court filings by David Leibowitz et al., Eric Young et al., and Bryan Faubus et al., accuse Tether and Bitfinex of creating “the largest bubble in human…
Over the years, it became accepted wisdom that Bitcoin was a store of value, and that it could work as a hedge against market fluctuations. However, this has not turned out to be the case during the course of the current prolonged market turmoil. After the oil price crash on Monday, the world’s biggest…
A Swiss government memo appears to show a softening in the nation’s stance towards Libra, the proposed digital coin led by Facebook (NASDAQ:FB), just weeks after its former president described the project as a failure. The memo, seen by Bloomberg, shows the Swiss government refusing to rule out the possibility that Libra may one…
The crypto space has not been in the best of health over the past few weeks as the coronavirus pandemic and the associated turmoil in the markets took its toll. However, that does not mean that important developments have not been taking place in the crypto sphere amidst the turmoil. Key Things to Watch…
Over the course of the past half-decade or so, the cryptocurrency space has grown at a breakneck pace, and it is believed that it is going to keep expanding in the years to come. However, in this regard, it is also important to note that it has thrived because many nations have not outlawed…
Almost all markets across the world have been in turmoil owing to the economic uncertainties brought about by the coronavirus pandemic, and in that regard, the crypto market has been no different. However, one of the major cryptocurrencies to have made a remarkable recovery since hitting its lowest levels in March is Ethereum (ETH),…
Square, the payment services provider founded and run by Twitter’s Jack Dorsey, has won a US patent to launch a new network that enables crypto-to-fiat transactions. Square was founded in 2009 by Jack Dorsey and Jim McKelvey in their hometown of St. Louis, around the same time as Dorsey’s other company, Twitter (NYSE:TWTR), was beginning…
The cryptocurrency market might have had a horrid time over the past few weeks, but things have changed this week. Much of the reversal in fortunes is possibly tied to the upcoming Bitcoin halvening event. Why the Sudden Jump? The world’s biggest cryptocurrency by market cap has been in the doldrums due to the…
googletag.cmd.push(function() { googletag.display(‘banner_ad_cnn_MD-A4’); });It seems like the banking industry is slowly adopting cryptocurrencies. A group of central banks has come together to assess the potential pitfalls of relying on digital currency, and one of them is the Bank of England. Central Banks Considering Idea of a Central Bank Digital Currency The Bank of England…
The crypto sphere has been buzzing over the past few days owing to the Bitcoin halving event, but that does not mean that other cryptocurrencies have not been making waves as well. Chainlink (LINK) and Tezos (XTZ) may be two of the smaller cryptocurrencies when it comes to market cap, but both have made…
The US Securities Exchange Commission (SEC) has requested the deposition of a representative from Kik, the former messaging app that now focuses on cryptocurrency, in its longstanding wrangle, which claims that the Canadian company violated securities laws when it carried out an ICO in 2017. On January 23, a judge in the Southern District…
