Legality of bitcoin by country or territory

Chainalysis Raises $100 Million at More Than $2 Billion Valuation to Expand Enterprise Cryptocurrency Data Business

Retrieved on: 
Friday, March 26, 2021
Cryptocurrencies, Articles, Decentralization, Bitcoin, Technology, Payment systems, Blockchain, Money laundering, Legality of bitcoin by country or territory

Chainalysis's proprietary cryptocurrency data powers its industry-leading investigations and compliance software, which enables government agencies and private sector businesses across the world to detect and prevent cryptocurrency crime and money laundering.

Key Points: 
  • Chainalysis's proprietary cryptocurrency data powers its industry-leading investigations and compliance software, which enables government agencies and private sector businesses across the world to detect and prevent cryptocurrency crime and money laundering.
  • "Chainalysis provides key data infrastructure and software for the cryptocurrency ecosystem, and as cryptocurrency adoption grows, so will demand for Chainalysis offerings."
  • "At Chainalysis we believe that eventually every company will use the blockchain to conduct their business," said Michael Gronager, Co-founder and CEO, Chainalysis.
  • Our partners at Paradigm share our vision and understand that the data Chainalysis provides will enable accelerated adoption of cryptocurrency."

MEDIA ALERT: When is a currency not taxed like a currency? When it is a virtual currency

Retrieved on: 
Thursday, March 25, 2021
Finance, Consulting, Banking, Accounting, Professional services, Taxation in the United States, Tax, Alternative currencies, Virtual currency, Currency, Payment systems, Economy, Internal Revenue Service, Legality of bitcoin by country or territory, Virtual currency law in the United States

The Internal Revenue Service (IRS) first addressed virtual currencies in 2014 with the Notice 2014-21.

Key Points: 
  • The Internal Revenue Service (IRS) first addressed virtual currencies in 2014 with the Notice 2014-21.
  • The IRS views virtual currencies as just another type of property, not as a currency, and transactions involving virtual currency are taxed accordingly.
  • Why: The IRS appears to have made virtual currency an audit priority after reviewing indications that many virtual currency transactions are not being property reported for tax purposes.
  • It is important for taxpayers to understand their tax obligations when engaging in virtual currency transactions.

From the Tax Law Offices of David W. Klasing - IRS Launches Operation Hidden Treasure, An Effort to Track Down Cryptocurrency Tax Evasion

Retrieved on: 
Tuesday, March 23, 2021
Cryptocurrencies, Payment systems, Blockchains, Cryptography, Bitcoin, Digital currencies, Concurrent computing, Decentralization, Ethereum, Legality of bitcoin by country or territory

Note: Cryptocurrency trades are currently taxable in the calendar year they occur even if no fiat changed hands.

Key Points: 
  • Note: Cryptocurrency trades are currently taxable in the calendar year they occur even if no fiat changed hands.
  • I.E., trade of 5 Bitcoin purchased for $20 (in total) for 3 Ethereum valued at $40 (in total) results in a $20 capital gain.
  • If held for less than a year this is ordinary income, held over a year, long term capital gain.
  • A representative from the IRS announced that specially trained agents will look for "badges of fraud" as a part of Operation Hidden Treasure.

ExchangeRates.org Launches New Tools With Real-time Updates

Retrieved on: 
Thursday, March 18, 2021
Foreign exchange market, Money, Economy, Finance, Currency, Cryptocurrency, Digital currency, Exchange rate, Exchange, Legality of bitcoin by country or territory, Cryptocurrency exchange

The website has recently introduced its latest update: real-time currency exchange rate of over 170 currencies all over the world.

Key Points: 
  • The website has recently introduced its latest update: real-time currency exchange rate of over 170 currencies all over the world.
  • Besides currency exchange, the website also provides data on other popular conversions such as gold, silver and over 400 cryptocurrency.
  • Established in 2018, ExchangeRates.org seeks to become one of the leading currency exchange platforms, with up-to-date information on all of the world's currency.
  • In the near future, ExchangeRates is working on an advanced data analysis function, aiding users with necessary tools for study, work and leisure.

As Bitcoin Reaches New All Time Highs Are More Investors Using Cryptocurrency As An Inflation Hedge

Retrieved on: 
Thursday, March 11, 2021
Payment systems, Cryptocurrencies, Digital currencies, Bitcoin, PayPal, Currency, Economics of bitcoin, Legality of bitcoin by country or territory

Despite Bitcoin being well known amongst traders for its price swings, many believe that this leading digital currency is here to stay.

Key Points: 
  • Despite Bitcoin being well known amongst traders for its price swings, many believe that this leading digital currency is here to stay.
  • A recent report from an industry watchdog, HackerNoon said: "Money 'printing' pumped up the economy to keep markets functioning.
  • The risk of inflation forced investors to start looking for other, more reliable assets to allocate their funds.
  • HackerNoon continued: "The Bitcoin addiction buzz also raised as PayPal announcedit would enable buying, selling, and holding digital currencies.

As Bitcoin Reaches New All Time Highs Are More Investors Using Cryptocurrency As An Inflation Hedge

Retrieved on: 
Thursday, March 11, 2021
Payment systems, Cryptocurrencies, Digital currencies, Bitcoin, PayPal, Currency, Economics of bitcoin, Legality of bitcoin by country or territory

Despite Bitcoin being well known amongst traders for its price swings, many believe that this leading digital currency is here to stay.

Key Points: 
  • Despite Bitcoin being well known amongst traders for its price swings, many believe that this leading digital currency is here to stay.
  • A recent report from an industry watchdog, HackerNoon said: "Money 'printing' pumped up the economy to keep markets functioning.
  • The risk of inflation forced investors to start looking for other, more reliable assets to allocate their funds.
  • HackerNoon continued: "The Bitcoin addiction buzz also raised as PayPal announcedit would enable buying, selling, and holding digital currencies.

Cryptocurrency Rising as Corporate Mainstream Acceptance and Digital Mining Ramps Up

Retrieved on: 
Tuesday, March 9, 2021
Payment systems, Cryptocurrencies, Cryptography, Blockchains, Bitcoin, Currency, Digital currencies, Decentralization, Ethereum, Legality of bitcoin by country or territory, Cryptocurrency and crime

"The recent activity and interest in cryptocurrency presents us with a unique opportunity to introduce cryptocurrency to our users, as well as to bring cryptocurrency users to our platform."

Key Points: 
  • "The recent activity and interest in cryptocurrency presents us with a unique opportunity to introduce cryptocurrency to our users, as well as to bring cryptocurrency users to our platform."
  • Through machines hosted and operated by Yitang, Hello Pal users can purchase Bitcoin and Ethereum mining machines.
  • Nor are users required to by the entire machine, as they can option to purchase fractional parts of the mining machines.
  • But we are here to enable customers, merchants and businesses to move digital value traditional or crypto however they want."

Cryptocurrency Rising as Corporate Mainstream Acceptance and Digital Mining Ramps Up

Retrieved on: 
Tuesday, March 9, 2021
Payment systems, Cryptocurrencies, Cryptography, Blockchains, Bitcoin, Currency, Digital currencies, Decentralization, Ethereum, Legality of bitcoin by country or territory, Cryptocurrency and crime

"The recent activity and interest in cryptocurrency presents us with a unique opportunity to introduce cryptocurrency to our users, as well as to bring cryptocurrency users to our platform."

Key Points: 
  • "The recent activity and interest in cryptocurrency presents us with a unique opportunity to introduce cryptocurrency to our users, as well as to bring cryptocurrency users to our platform."
  • Through machines hosted and operated by Yitang, Hello Pal users can purchase Bitcoin and Ethereum mining machines.
  • Nor are users required to by the entire machine, as they can option to purchase fractional parts of the mining machines.
  • But we are here to enable customers, merchants and businesses to move digital value traditional or crypto however they want."

CannaOne to Acquire Majority of Australian Digital Currency Exchange and Remittance License Holder

Retrieved on: 
Monday, March 8, 2021
Decentralization, Government of Australia, Cryptocurrency exchange, Cryptocurrency, Digital currency, Exonumia, Australian Transaction Reports and Analysis Centre, Foreign exchange market, Money, Draft:Digifinex, Legality of bitcoin by country or territory

Completes Previously announced acquisition of Vasu International

Key Points: 
  • Arkin is an Australian Transaction Reports and Analysis Centre (AUSTRAC) registered owner of a Digital Currency Exchange and Remittance License in Australia.
  • Its acquisition would provide CannaOne with the capability to operate as a turnkey licensed digital currency business active in the exchange and trade of cash for digital (crypto) currency, and/or digital (crypto) currency for cash (FIAT) (whether in Australian dollars or in other foreign currency options).
  • It is expected that CannaOne will be able to utilize Arkin's Digital Currency Exchange and Remittance License in Australia to provide a functional platform for CannaOne to launch its cryptocurrency platform immediately, in particular, given the ever-present growth and evolution of the global crypto currency marketplace - (that, for which each of Arkin and CannaOne, presently have cryptocurrency transaction demand available).
  • Finders' fees may be payable in connection with the transaction in accordance with the policies of the Canadian Securities Exchange.

Sino-Global Accepts Bitcoin as Payment

Retrieved on: 
Tuesday, March 2, 2021
Payment systems, Cryptocurrencies, Bitcoin, Digital currencies, Currency, Legality of bitcoin by country or territory, Economics of bitcoin

Payments made in Bitcoin will be made at the rate applicable at the payment date.

Key Points: 
  • Payments made in Bitcoin will be made at the rate applicable at the payment date.
  • Mr.Lei Cao, Chief Executive Officer of Sino-Global, commented, "We are thrilled to begin accepting Bitcoin as payment.
  • Sino-Global is adapting to digital currency industry trends by offering our customers options to use a variety of payment methods.
  • Accepting Bitcoin amongst other payment methods will allow our customers and business partners to take advantage of an increasingly important payment network."