The American Bar Association has recommended that the IRS offer taxpayers temporary safe harbor regarding cryptocurrency that they acquired as the result of a hard fork. It has also begun to explore the possible implications that such tokens might have during future tax seasons.
Two bills relating to cryptocurrencies and ICOs have been submitted to the lower house of Russia’s legislature, the State Duma. The development comes after the country’s Ministry of Finance and central bank reportedly reached a consensus on the topic of whether digital asset trading should be allowed in general, or only in the context of
15-Year-Old Hacks Hardware Crypto Wallet LedgerHardware wallet Ledger Nano S had a break in – teenage security expert, Saleem Rashid, found an issue with the “tamper-free” wallet. The story began on Nov. 2017, when Rashid reported a flaw to Ledger CTO, Nicolas Bacca, which could allow attackers to steal funds from wallet users. Rashid had observed
ABA Tax Experts Ask IRS to Create Safe Harbor for Cryptocurrency Hard ForksThe American Bar Association (ABA) Section of Taxation has formally asked the US Internal Revenue Service (IRS) to create a safe harbor for investment gains realized from cryptocurrency hard forks. In the letter, which was drafted by Section Chair Karen Hawkins, the ABA
The updated forecasts coming out of the Federal Reserve may fuel the recent rebound in EUR/USD if the central bank curbs speculation for four rate-hikes in 2018.
The Pound Sterling edged higher against the US Dollar after the latest labor data out of the UK helped improve sentiment for Cable.
The Federal Reserve’s two-day policy meeting will end later today, and traders worldwide are eagerly awaiting the central bank’s announcement, which is expected to include an interest rate hike and hints towards future hikes.
Disclosed today, an exploit in Coinbase contracts allowed users to fund wallets with potentially unlimited amounts of Ether. Dutch researchers discovered the flaw, furnishing it to Coinbase in January.
On Tuesday, the OECD called for international collaboration regarding taxation matters, specifying that its Forum on Tax Administration will study the “tax consequences” of cryptocurrencies and blockchain technology. In the last week, the intergovernmental organization also addressed the emerging sector through its report on the “Tax Challenges Arising from Digitalisation.”
The G20 summit in Argentina closed its session with a directive for future development of crypto-asset and blockchain standards, protections, and innovation.