Search Results for "revenue"
Nigeria Expects to Generate a Revenue Stream of $6 Billion Through Blockchain Technology by 2030
Nigeria says that blockchain in the country could generate a revenue of between $6 and $10 billion in 10 years.
U.S. Senators Urge Treasury and IRS for Swift Cryptocurrency Tax Rule Implementation
A group of U.S. Senators has expressed concern over a two-year delay in implementing tax reporting requirements for crypto brokers, urging the Treasury Department and IRS to expedite the process to close the crypto tax gap, provide clarity for taxpayers, and secure billions in lost tax revenue. The delay contradicts the directives of the Infrastructure Investment and Jobs Act and gives leeway to crypto lobbyists opposing the rule.
PwC Expert's Take: What Are the 3 Grey Areas to Crypto Taxation in Hong Kong?
The Inland Revenue Department (IRD) of Hong Kong took a step further to provide clarity in taxing digital assets. In the recent press release titled “LCQ20: Regulation of virtual asset investment activities”, James Lau, the Secretary for Financial Services and the Treasury answered the queries raised by the Hon Wu Chi-wai on taxation of virtual assets, tax evasion of virtual asset-related business and latest effort to regulate virtual assets by the Hong Kong Securities and Futures Commission (SFC).
Coinbase Looks to List Dogecoin in 2 Months
Amid Coinbase’s rise that has seen its revenue soar to new highs, the company stated that it will list new assets, including Dogecoin.
Coinbase Records Impressive Growth in Q2 Revenue, Earning 2.23B and Exceeding Analysts’ Expectations
Despite a volatile second-quarter period, Coinbase saw revenue increase in its cryptocurrency business, earning $2.23 billion in revenue.
Coinbase CEO: Americans are Investing Their COVID Stimulus Checks in Bitcoin
Brian Armstrong, the CEO of US-based crypto exchange Coinbase, has revealed data showing how $1,200 deposits similar to the stimulus checks being offered to Americans by the government has skyrocketed this week. Coinbase is the leading crypto exchange in the American soil.
IRS Announces New Tax Payment Guidance on Cryptocurrencies
The controversial nature of the acceptance of cryptocurrencies is now more tilted to the positive end where world government now deem it fit to establish guidelines to tax cryptocurrency holders.
Whale Alert Analysis: Scammers Have Bagged Bitcoin Worth $24 Million in the First Half of 2020
Leading blockchain tracking and analytics provider Whale Alert has revealed that scammers have been on a stealing spree as they have made away with $24 million in Bitcoin so far in 2020. Cumulatively, they have siphoned Bitcoin valued at $38 million over the last four years, and this excludes Ponzi schemes as they are a billion-dollar sector on their own.
Chinese Bitcoin Mining Giant Canaan Files for $400m US IPO
One of China’s largest bitcoin mining hardware makers, Canaan Creative, publicly filed for a U.S. IPO on Monday, The Block Reports.
UK Tax Authority Updates Its Guidelines for Crypto Taxation
HMRC updates its guidelines for crypto – taxation, relating to both individuals and businesses. The new guidelines explicitly state that crypto-currencies are not considered as ‘money.’
Trump’s Proposed Capital Gains Tax Cuts Could Benefit Ethereum 2.0 Stakers
President Donald Trump has proposed a capital gains tax cut which may greatly benefit United States cryptocurrency traders—particularly those planning to stake on Ethereum 2.0.
Crypto.com Partners with Leading Tax Providers to Simplify Reporting Process
Crypto.com, a pioneering payment and cryptocurrency platform, has partnered with three reputable tax providers namely, Token Tax, CryptoTrader Tax, and CoinTracker for simplified tax reporting with the click of a button. This decision was arrived at following requests by the Crypto.com community to be tax compliant.