The IRS has introduced new regulations, effective January 1, 2025, requiring centralized cryptocurrency exchanges to report user transactions through Form 1099-DA. This initiative seeks to improve tax compliance and transparency in the rapidly evolving digital asset industry, impacting both exchanges and investors.
The post Industry Experts Explain Significance of New Crypto Tax Rules in US appeared first on Cryptonews. …
Category: Cryptocurrencies
Siberian Power Firm Aims to Prosecute 400 ‘Illegal’ Crypto Miners
The Siberian power firm Irkutsk Energosbyt says it wants to prosecute around 400 “illegal” crypto miners.
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Trump Meme Coin’s Market Cap Loses $6B in Value Before His Swearing-In
Donald Trump’s $TRUMP token skyrocketed to $15b before tumbling to $9b, shaking up the crypto market ahead of his inauguration.
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Trump’s World Liberty Saw Token Sale Surge with 230% Price Hike Amid Massive Demand
World Liberty Financial (WLFI), the decentralized finance platform backed by Donald Trump, has announced the completion of its initial token sale.
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Bitcoin Price Crosses $109K to Hit ATH as Trump Prepares to Take Office
Bitcoin (BTC) has surged past $109,000 as President-elect Donald Trump prepares to begin his second term in the White House.
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Court Jails Crypto Exchange Operator Who Took BTC to Spy for North Korea
A South Korean crypto exchange operator has been sentenced to four years in prison after a court found them guilty of “leaking military secrets” to North Korean hackers in exchange for Bitcoin (BTC) payments.
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Vitalik Buterin Unveils Leadership Overhaul at Ethereum Foundation to Boost Technical Focus
Ethereum co-founder Vitalik Buterin has announced significant leadership changes at the Ethereum Foundation, aiming to prioritize technical expertise.
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SEC Sues Helium Network Creator Nova Labs Ahead of Gary Gensler’s Exit as Chair
The U.S. Securities and Exchange Commission (SEC) has filed a lawsuit against Nova Labs, the creator of the open-source Helium Network.
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Trump Promotes Solana Meme Coin Days Before Inauguration, Sparking Hacking Concerns
Donald Trump’s official social media accounts have created a stir by promoting a Solana-based meme coin called “Official Trump (TRUMP).”
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Coinbase CEO Brian Armstrong Backs Global Bitcoin Strategic Reserves Initiative
Brian Armstrong, CEO of Coinbase, has publicly endorsed a proposal for global leaders to establish Bitcoin strategic reserves.
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