Meanwhile, New York is considering a radical overhaul in the way people pay for state stuff. The proposal before the state now. This proposal would enable you to transact in cryptos such as Bitcoin for payment of taxes, fines, and even your child’s tuition to a state university. This last...
Let's cut the chase. New York’s thinking of allowing you to pay your taxes and rent, even those annoying parking tickets, in crypto. Assemblyman Vanel, bless his heart, believes New York should jump into the future. Before we all rush to start accepting Bitcoin, let’s pump the brakes and examine...
Clyde Vanel's proposed bill in New York, allowing state agencies to accept cryptocurrency, sparks a crucial question: Can this really level the playing field for marginalized communities, or is it just another tech novelty? Let’s face it, our financial systems are rigged against the people who need them the most....
The current cryptocurrency market showcases a dichotomy, where Bitcoin shows consistent price fluctuations but other altcoins witness significant corrections. As of writing, Bitcoin (BTC) price is $92,411.92. That’s a 1.36% drop from 4 p.m. ET Wednesday afternoon and a 1.76% decline over the past 24 hours. Ethereum (ETH) has suffered...
Are you ready for a financial shock? Because if you've dabbled in crypto, a tax reckoning unlike anything you've seen before is barreling toward you faster than a Bitcoin bull run. And the worst part? The very institutions that you were told would protect you, such as the IRS and...
Cryptocurrency can be an amazing tool and investment with great potential. The tax rules can get pretty complicated. Many crypto investors are facing a harsh reality: widespread failures in crypto tax reporting. These glaring failures expose millions of taxpayers to unnecessary risk of audit, penalty, and even criminal prosecution. This...
The crypto space sold these ideas with the promise of freedom, decentralization, and a new financial frontier. It was never going to deliver an easy tax filing experience. Instead, it served up one so confusing it would make your head spin quicker than a memecoin pump and dump. In short,...
Tax policy analysts and crypto tax experts recently completed a new investigation. Their findings outline deeply pervasive and alarming failures in the existing crypto tax reporting system. Our multi-year investigation uncovers grievous harm to traders, investors, and miners. The IRS is expected to begin aggressively enforcing new 1099-DA rules and...
The DraftKings settlement. $10 million. Reignmakers NFTs. These words may seem like something out of a tech-y, Silicon Valley corner of the internet, but get prepped to be surprised. This is not only the death knell for digital sports cards, but a clear, flashing red light for the entire crypto...
We’ve all been hearing a lot lately about the latest crypto regulations, government crackdowns on big crypto exchanges, and politicians posturing about how they’re protecting investors. While everyone's focused on the big players, a far more insidious threat is quietly growing, fueled by artificial intelligence, and it's slipping right through...
