Tag Archives: IRS
- Bitcoin platform LedgerX secures swap execution facility status in US
July 10, 2017
The U.S. Commodity Futures Trading Commission (CFTC) has granted Google Ventures-backed bitcoin options service LedgerX the status of a swap execution facility (SEF). Last week, the U.S. regulator issued an Order of Registration for the Delaware-based institutional derivatives exchange platform for digital currencies. The CFTC registration makes LedgerX “the first...
- Congress blockchain caucus wants more bitcoin tax guidance from IRS
June 9, 2017
A new group of lawmakers is attempting to get answers from the U.S. Internal Revenue Service on its tax requirements for digital currencies like bitcoin. Representatives Jared Polis and David Schweikert, co-chairs of the Blockchain Caucus congressional group, recently penned a letter addressed to IRS Commissioner John Koskinen, urging the...
- 2 Coinbase customers join battle to stop IRS bitcoin tax summons
May 17, 2017
Coinbase has gained two more supporters in its fight to block the U.S. Internal Revenue Service (IRS) from issuing summons on the bitcoin wallet service. The California-based bitcoin exchange, if you recall, is embroiled in a legal fight with the IRS after the latter issued an order requiring the exchange...
- Court docs reveal less than 1,000 people report to IRS about bitcoin
March 21, 2017
New documents have emerged in the midst of the closely-watched legal battle between the U.S. Internal Revenue Service (IRS) and digital currency exchange Coinbase, revealing that only a small number of digital currency owners in the United States are reporting their profits or losses in their annual tax returns. Last...
- JP McManus loses battle to claim $5.2M tax refund from US
March 1, 2017
A federal judge in the United States has rejected Irish horseracing figure JP McManus’s bid to recover the $5.22 million that he claimed the U.S. government withheld as tax from his backgammon winnings. Last Friday, U.S. Court of Federal Claims Judge Nancy Firestone denied the Irish businessman’s request to order...
- Coinbase court battle vs IRS pushed off to March
February 6, 2017
Bitcoin exchange Coinbase will have to wait a little bit more before it can have its day in court against the U.S. Internal Revenue Service. This was after U.S. District Court for the Northern District of California Judge Jacqueline Scott Corley granted the federal government’s request to move the hearing...
New Japan law recognizes bitcoin as method of payment
March 31, 2017
Bitcoin’s price crashes as it braces for an ugly split
March 20, 2017