some where in 17k
cointelegraph.com
You traders got crazy heart, especially with these institutions that can eat through sell walls like it ain't shit. I just don't trust billionaires buying OTC to keep price down when they also have money to easily move markets to double, triple their OTC investments at a fraction of the cost.
That’s why I like the stock market better and it is more lucrative if you know what you are doing.
Governments and institutions ain't about to play fair. They going to stock up on the big boys until they have so much they winning as price goes up. Same way folks swore they were about to destroy government control of money is going to make the elite more powerful than they ever been in recorded history. If the average joe is going to become a millionaire, what happens to governments and billionaires.
Man. Those institutional guys just proudly bought $50 million bags of BTC over 19k. We are to the point where the 'smart money' is copping at 19k and saying they bagging the fuck up. It's like these rich cats trying to get ALL the BTC. They also said ETH only institutional investing increased. These guys buying major weight OTC. Dollar about to shit the bed again in 2021. Biden wants to print even more money and crypto usually goes up when dollar goes bad.
Any regulation from Cocksucker Sam will be aimed at keeping the peasants in check in the name of KYC/AML bullshit. No way they fucking over institutional guys who will end up with billions in BTC and ETH.
Regardless, we seen no one gives a flying fuck about U.S. citizens. They just ban us and keep the game going.They did it in 2017 with ICOs. And kept it going throughout the bear. If our fucked up government tries to ban us from DEFI, the DEFI game will still blow up without us.
IRS is ‘setting the trap’ for bitcoin and virtual currency investors on 2020 tax form
The Internal Revenue Service (IRS) is making it harder for taxpayers to conceal cryptocurrency transactions — whether intentionally or not — by adding a new question about it near the top of the new Form 1040.
The form released last week asks: “At any time during 2020, did you receive, sell, send, exchange, or otherwise acquire any financial interest in any virtual currency?” The only option is to mark yes or no.
If you answer inaccurately, you could find yourself in hot water with Uncle Sam who is rooting out tax evaders, tax professionals warned.
“When you sign the form, it’s under the penalty of perjury,” said Ryan Losi, a certified public accountant and executive vice president of PIASCIK, a tax firm. “The IRS is just gathering the data, changing the forms to expressly say you did or didn’t, and setting the trap, so in the coming years, the hammer can come down.”
‘The IRS is making it clear...’
Since 2014, the agency considers virtual currencies as a capital asset that must be treated as a property when it comes to taxes. Similar to stocks or bonds, any gains or losses from the sale or exchange of cryptocurrency is taxed as a capital gain or loss. Any income generated from mining bitcoin or other cryptocurrencies is also taxable.
But the IRS has been investigating for years to determine how many crypto investors have been under-reporting their holdings.
In 2018, Coinbase — the largest custodian of virtual currencies — was forced to disclose information on 13,000 user accounts under an IRS summons. The agency also sued to force Bitstamp to release more information on a taxpayer who had requested a $15,475 tax refund in an amended return.
The IRS included the same question on the 2019 tax return, but it was placed on top of Schedule 1, used to report certain additional income or adjustments to income, according to Lewis Taub, a certified public accountant and director of tax services at Berkowitz Pollack Brant Advisors + CPAs. The problem was that not many people file Schedule 1 with their return, he said, so the agency moved it to the first page of the tax return.
“In my view, the IRS is treating omitted virtual currency transactions in the same manner it pursues foreign bank accounts of U.S. taxpayers,” Taub said. “By asking the question on the top of the first page of the return, the IRS is making it clear that any income from gains or losses from virtual currency must be reported on the return.”
The instructions that go with the Form 1040 explain how and when you must report your virtual currency holdings and transactions.
But cryptocurrency can be tricky, Losi said, because some people use their virtual currency account as a payment account — for instance, buying a Starbucks latte with bitcoin. But if you completed that purchase using gains from your cryptocurrency investments, that would be a taxable event, Losi said.
“That would go on Schedule D of the 1040,” he said.
But simply holding virtual currency doesn’t mean you need to be taxed on it.
“If you acquire the virtual currency and haven’t spent it or exchanged it out for other currency, you don’t have a triggering event for tax purposes,” Losi said. “It’s an unrealized gain.”
IRS is ‘setting the trap’ for bitcoin and virtual currency investors on 2020 tax form
The Internal Revenue Service (IRS) is making it harder for taxpayers to conceal cryptocurrency transactions.money.yahoo.com
news.bitcoin.com
The Treasury dept now going after crypto wallets in exchanges
Y'all seen this shit
US Treasury Unveils Stifling Crypto Wallet Regulation — Experts Break Down the Rules
US Treasury Unveils Stifling Crypto Wallet Regulation — Experts Break Down the Rules | Regulation Bitcoin News
The Financial Crimes Enforcement Network (FinCEN), a bureau of the U.S. Treasury Department, has unveiled its proposed rules on transactions involving cryptocurrency wallets. Experts in the crypto community have weighed in on what the new proposed regulation means, what crypto owners should do...
Hold the Fuck up, Bro ! You're starting to make toooo much sense !!!!
coinbase.com gemini.com binance.us
support.ledger.com
It's crazy that we talked about this shit about 3 years ago. I remember saying these governments would try to do KYC/AML for wallets and decentralized exchanges. This is them sticking the tip in.
"anti-terroism freedom pie act of 2024" will demand we turn over our private keys to a government-endorsed entity. These keys will be held in safe keeping and insured. Similar to how our funds are insured in the bank.
This corporation is BROKE so they are legalizing everything and want to tax everything to pay down the debt owed to the banking cartels.The Treasury dept now going after crypto wallets in exchanges
Y'all seen this shit
US Treasury Unveils Stifling Crypto Wallet Regulation — Experts Break Down the Rules
US Treasury Unveils Stifling Crypto Wallet Regulation — Experts Break Down the Rules | Regulation Bitcoin News
The Financial Crimes Enforcement Network (FinCEN), a bureau of the U.S. Treasury Department, has unveiled its proposed rules on transactions involving cryptocurrency wallets. Experts in the crypto community have weighed in on what the new proposed regulation means, what crypto owners should do...
The only cryptocurrency that is totally “off the books” is monero. They have already gotten to the rest and can find out who owns what. too much tracking and surveillance and blockchain being secure doesn’t mean it is anonymous...but with the scenario I gave before with the rich transferring wealth through commodities, land, artifacts etc., they still can through crypto. You can’t tax what isn’t realized and that’s what they’re trying to figure out how to do now.It's crazy that we talked about this shit about 3 years ago. I remember saying these governments would try to do KYC/AML for wallets and decentralized exchanges. This is them sticking the tip in.
Another thing that will come down the line. They will require us to hand over our private keys. We all know the 'not your keys, not your coins' saying. How long will these government ghouls tolerate an asset that they can't confiscate? Picture this shit. They can't take this shit and it's poised to be worth trillions. They can take gold, stocks, real estate, wages, etc, but can't seize crypto without private keys.
So at first, they getting us to disclose we own the shit even if we don't owe taxes. Next, the
If you run afoul of the U.S. OR they feel like doing it, they will get a court order to remove the crypto from that wallet and into their wallet until the case/claim is resolved. Currently, without private keys, they can't seize anything by force.
Crypto is going to show everyone that freedom is a lie. U.S. made it illegal to own gold before, so be prepared. Not disclosing private keys to bitch ass Sam will be punishable by 5 years and/or 250k fine.
This corporation is BROKE so they are legalizing everything and want to tax everything to pay down the debt owed to the banking cartels.
it’s coming time for the bill to be due so that is why you see all the artificial inflation of the stock market (commercial banks are buying equities) and when the contraction comes it’ll take a decade to recover.
brothas better learn all they can about “interest rates” if they want to survive. That is the only way these Neanderthals are because of the low interest loans due to damn near 0 interest rates which is what should’ve been the case for educational loans
The elite will be fine. They the ones control the politicians that are creating all the rules to limit joe sixpack from winning. The puppets will create plenty of loopholes for the billionaires holding crypto.
decrypt.co
these faggots getting desperate ! I'm not surprised tho! they see the writing on the wall!1.3 Billion dollar lawsuit filed against XRP.
SEC Files $1.3 Billion Lawsuit against XRP Creator Ripple - Decrypt
The US Securities and Exchange Commission today filed a lawsuit against the company that created XRP, Ripple Labs.
They should have left the states years ago1.3 Billion dollar lawsuit filed against XRP.
SEC Files $1.3 Billion Lawsuit against XRP Creator Ripple - Decrypt
The US Securities and Exchange Commission today filed a lawsuit against the company that created XRP, Ripple Labs.
I think xrp will hit $10
