The Infrastructure Investment and Jobs Act (H.R. 3684) put crypto in the crosshairs, where Congress and the Internal Revenue Service (IRS) hope to scoop up enormous tax dollars. This reporting regime is projected to rake in an astounding $28 billion over the next ten years. No other provision in this massive recently enacted federal law is supposed to produce tax dollars that … [Read more...] about Things to know (and fear) about new IRS crypto tax reporting
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President Biden Signs Infrastructure Bill Containing Crypto Broker Reporting Requirement Into Law
Another provision opposed by the crypto industry essentially requires recipients of transactions over $1,000 to verify the sender’s personal information and record his or her Social Security number, the nature of the transaction and other information, and report the transaction to the government within 15 days. Source link … [Read more...] about President Biden Signs Infrastructure Bill Containing Crypto Broker Reporting Requirement Into Law
Robinhood Shares Fall After Reporting Data Security Breach
Robinhood’s shares fell 3.1% in after-market trading on Monday, after the stocks and cryptocurrencies trading app acknowledged Nov. 3 security data breach in a blog post.“An unauthorized third party obtained access to a limited amount of personal information for a portion of our customers,” the popular trading platform said in the Monday blog post.The company said that the … [Read more...] about Robinhood Shares Fall After Reporting Data Security Breach
Binance Hires Former IRS Special Agent to Head Suspicious Activity Reporting
Binance has hired a veteran financial criminal investigation agent to head up suspicious activity reporting as it continues to strengthen its regulatory compliance front.Amjad Qaqish, a former criminal investigation special agent at the U.S. Internal Revenue Service (IRS), was named as the largest crypto exchange’s director of global suspicious activity reporting on … [Read more...] about Binance Hires Former IRS Special Agent to Head Suspicious Activity Reporting
VeChain launches blockchain platform to encourage carbon data reporting
Supply chain management platform VeChain announced a new service for combining businesses to overhaul their carbon footprint data management practices.The new service, detailed in a Medium post on Aug. 26, combines decentralized ledger technology with a software-as-a-service (SaaS) business model.The Digital Carbon Footprint SaaS Service “allows enterprise users to log key data … [Read more...] about VeChain launches blockchain platform to encourage carbon data reporting