Tag Archives: Bitcoin
- Bitcoin battle heats up as Coinbase fights IRS demand
Prepare your popcorn—Coinbase is fighting back. The U.S.-based bitcoin exchange finally shattered its silence two months after the Internal Revenue Service ordered it to hand over records of all transactions that took place from 2013 to 2015. Last week, California-based Coinbase filed court papers supporting a challenge to the IRS...
- Israel’s crypto-tax rules seek to treat bitcoin as an asset
The government of Israel has decided to treat digital currencies like bitcoin as assets instead of foreign currencies for the purpose of taxation. The Israel Tax Authority released a draft circular last week, which detailed “the tax professional activities of virtual currencies.” Under the new rules, transactions involving bitcoins in...
- No threats seen, but Russia will keep close eye on cryptocurrency
So far, so good. Authorities in Russia say they do not see any threats—yet—from the use of digital currencies in the country, Russian news agency TASS. For years, authorities in Russia, particularly the Ministry of Finance of the Russian Federations, have been very vocal in opposing digital currency in the...
- Bitcoin price sinks as China’s central bank inspects exchanges
The price of bitcoin fell on Wednesday following news that the People’s Bank of China has launched spot checks on digital currency exchanges in Beijing and Shanghai. Officials with the PBoC’s Shanghai headquarters and the city’s finance office conducted on-site inspections at BTC China early this week to look for...
- Coin.mx operator pleads guilty in bitcoin case tied to 2014 JPMorgan hack
Anthony Murgio, operator of defunct Coin.mx bitcoin exchange, has ended his involvement in the probe of the massive JPMorgan Chase hack by pleading guilty to charges of conspiracy, according to The Palm Beach Post. The 33-year-old Florida resident pleaded guilty to three charges: conspiracy to commit bank fraud, conspiracy to...
- Bitcoin braces for possible long wait to be regulated in China
It may take at least two more years before bitcoin becomes regulated in China. That was the estimated given by Bobby Lee, founder and chief executive officer of digital currency exchange BTC China, which, if you recall, was recently called on by the People’s Bank of China (PBoC)—the central bank—to...
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