Crypto assets are increasingly becoming a part of the mainstream investor’s portfolio, which indicates a growing appetite for such a product. As Modern Consensus reported at the end of October, more than half of U.S. investors are interested in buying Bitcoin, and nearly one quarter already have.
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Gemini, TaxBit partner on tax tools as IRS releases new guidance
The exchange will offer features that help users keep track of tax obligations and reduce their liabilities
The IRS is ramping up efforts to track down those who fail to pay tax when they sell digital assets for a profit—not to mention those who fill out the relevant forms incorrectly. But exchanges in the space are now attempting to make it easier for their users to abide by the rules.
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Nikhil Rathi, the new head of the U.K.'s FCA has gone forward with a ban on cryptocurrency derivatives for small investors (Photo: FCA)U.K. regulator shuts small investors out of crypto derivatives
The Financial Conduct Authority prohibited the sale of cryptocurrency derivatives to retail customers, starting today, to protect consumers
The regulator explained that the reason it believes that to be true is that the cryptocurrencies underlying such derivatives “have no reliable basis for valuation.” Beyond that, the presence of financial crime and market abuse in the crypto secondary market also makes reliable information hard to get. The FCA also cited the extreme volatility in cryptoasset valuation and the inadequate understanding of crypto by retail investors.
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3iQ brings its Bitcoin Fund to Europe, via Gibraltar
As bitcoin funds become more accessible to mainstream investors, adoption should increase, says Gibraltar Stock Exchange CEO Nick Cowan
3iQ’s Bitcoin Fund aims to allow institutional investors to gain exposure to Bitcoin’s volatility without having to buy and safekeep the cryptocurrency themselves.
