The scale of confusion and uncertainty surrounding crypto taxation is so great that half of the American accountants surveyed revealed that they believe most of their clients who own digital assets are likely to be audited.
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Three charged in BitClub Network’s alleged $722 million bitcoin Ponzi scheme
Three men are accused of using the BitClub Network cryptocurrency mining pool to defraud investors, referring to them as ‘sheep’ and ‘idiots’
A Ponzi scheme that stole $722 million from investors in a fraudulent cryptocurrency mining pool has been broken up by FBI and IRS agents, according a federal indictment. BitClub Network promised investors around the world shares in the earnings of a major non-existent bitcoin mining pool.
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FBI Director Christopher Wray testifying before the U.S. Senate discussing Bitcoin on November 7, 2019 (screenshot via C-SPAN).FBI director passes on calling for cryptocurrency tracking law
Christopher Wray avoided Mitt Romney’s question about tracking Bitcoin, turning instead to the need for messaging service ‘back doors’
FBI Director Christopher Wray declined to swing at a gentle pitch over the plate for more regulation of cryptocurrency anonymity at a recent Senate Homeland Security hearing.
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Bittax VP Or Lokay Cohen at the Ethereal conference in Tel Aviv on September 15, 2019 (photo by Molly Jane Zuckerman for Modern Consensus).How the IRS is cracking down on crypto taxes: A conversation with Bittax’s Or Lokay Cohen
At this weekend’s Ethereal Summit, Modern Consensus delved into the murky waters of cryptocurrency taxation and its various pitfalls
Or Lokay Cohen has been at crypto tax calculation service Bittax since 2016, which means that she may know more about how to file crypto taxes than any other person alive. Lokay Cohen told Modern Consensus that she came to the Ethereal conference in Tel Aviv on September 15 to meet other like-minded crypto people, as she was toying with the idea of using Ethereum-based smart contracts to pay your taxes automatically for the IRS.
