Recent Moves by Coinbase Made to Attract Institutional Cryptocurrency Investors in Europe and Asia

post-img

Read More

Coinbase has launched a new set of financial services that target high-volume traders in Asia and Europe. The biggest feature: the exchange now supports SWIFT transfers that will allow clients in Asia to fund their accounts from banks based outside the U.S. Coinbase Targets Large Traders Coinbase, one of the most popular US-based digital asset…

Overstock is Paying Ohio Taxes in Bitcoin

post-img

Read More

Major U.S. furniture retailer Overstock announced that it will pay taxes in bitcoin for the Ohio-based portion of its business under the state’s novel taxpayer platform, Ohiocrypto.com. Leading Crypto Adoption The 34th largest U.S. state by area, Ohio, became the first state to introduce tax payments via bitcoin in November 2018. The law extends to workers…

Turning your 2018 Bitcoin and Crypto Losses into Tax Savings

post-img

Read More

The cryptocurrency market saw a dramatic fallout throughout 2018. With Bitcoin falling from a value of $17,000 per coin in January of 2018 to around $3,500, many traders incurred losses since the start of the year. This post is the opinion of the author and is not financial, tax planning or tax advice. Please speak…

Ohio First State to Accept Bitcoin: Calling Crypto Secure, Transparent, and Low Cost

post-img

Read More

Beginning Nov. 26, Ohio will begin accepting Bitcoin payments for twenty-three kinds of business taxes. The state will become the first in the United States–and one of the first governments in the world–to accept cryptocurrency. Up until now, there have been concerns that Bitcoin would not become a suitable means for conducting payments, instead, describing…

Congress Pressures IRS to Issue Better Tax Guidelines for Cryptocurrency

post-img

Read More

In a letter sent from the House Ways and Means Committee on Wednesday, U.S. lawmakers are calling on the Internal Revenue Service (IRS) to issue more specific guidelines for taxes on digital assets. The letter lays out exactly what questions the Committee wants to be answered, with a  deadline of “no later than Oct. 17,…