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IRS Introduces New Form 1099-DA for Reporting Income from Digital Asset Transactions
The US IRS has introduced Form 1099-DA for cryptocurrency brokers to report digital asset transactions, aiming to improve compliance and ensure accurate tax reporting from digital assets starting January 1, 2025.
Australian Banks Ordered to Report Crypto Transactions
The Australian Prudential Regulation Authority (APRA) has ordered local banks to report on cryptocurrency transactions amid concerns over the contagion of recent banking collapses, including that of Silicon Valley Bank (SVB). The regulator is seeking more information and insight into banking exposures to crypto assets and associated risks.
European Central Bank Considers Rolling Out Blockchain-Powered Bank Transactions
The European Central Bank (ECB) seeks to be ahead of the game by studying how blockchain-based bank transactions will enable more money control even if lenders change to distributed ledgers.
On-Chain Transactions Above $10 Million Skyrocket on the Bitcoin Network
More large accounts or organizations are taking part in the Bitcoin network as on-chain transactions above $10 million have gone through the roof.
Uniswap Expands Mobile Footprint with Android Wallet Launch
Uniswap has launched a beta version of its mobile wallet for Android on October 12, following the successful iOS app release in April. The Android wallet facilitates easier swaps on various chains without manual network switching, offers robust swap protection against frontrunning, and ensures a transparent fee structure for its users. The launch, part of a broader trend among decentralized exchanges, signifies the growing emphasis on mobile platforms in DeFi.
Reversing Censorship on Ethereum
Ethereum presently has 47% OFAC-compliant blocks, the lowest since Oct 11.
Cash App Integrates TaxBit for Streamlined Crypto Tax Reporting
Cash App has integrated TaxBit into its services, allowing Bitcoin holders to easily report their taxes. Cash App users can track their Bitcoin transactions for tax reporting purposes through TaxBit’s platform. TaxBit simplifies tax reporting for everyone who has integrated digital assets into their portfolio. The IRS set Jan. 23 as the start of the 2022 tax filing season and reminded taxpayers of their crypto income reporting obligations, including capital gains from trading, mining, and staking activities.
Huge Worries As Some Coinbase Customers Express Dissatisfaction Over $10 Maximum Daily Limit
According to ongoing reports and speculation from some quarters in the cryptocurrency world, as regard allegations being brought against Coinbase, the United States San Francesco based cryptocurrency giant exchange and wallet service of restricting some clients to a maximum withdrawal of $10 per day.
Chainalysis Acquires Transpose to Bolster Blockchain Data Infrastructure and Accelerate Towards an On-Chain Future
Chainalysis, the leading blockchain data and analytics provider, announced the acquisition of Transpose, a prominent blockchain data and infrastructure firm.
Solana (SOL) Validators Approve "Timely Vote Credits" Proposal to Accelerate Blockchain Transactions
Solana validators have approved a proposal called "Timely Vote Credits" to reduce consensus vote latency and incentivize timely votes, potentially speeding up blockchain transactions, before implementing the mechanism.
Bitfinex and Polygon zkEVM Facilitate Tether Gold Transactions
Bitfinex has integrated Tether Gold transactions via the Polygon zkEVM transport layer, marking a significant step towards cost-effective and secure digital asset transactions from October 11, 2023.
WeStreet Credit Union Opens Public Access to Cryptocurrency Trading Portal
WeStreet Credit Union has introduced a Crypto Portal, offering a secure platform for buying, selling, and holding cryptocurrencies. Initially a members-only feature since August 2023, it opened to the public in October. Partnering with a Qualified Crypto Custodian, WeStreet provides a regulated, audited platform for cryptocurrency transactions, bridging the gap between traditional banking and the digital currency sphere.