Cryptocurrency

Hardly Anyone at All Is Reporting Their Bitcoin Gains to the IRS

(TMU) — According to a recent study from Credit Karma Tax, a very small percentage of the people who own cryptocurrency are actually reporting it to the IRS. Fewer than 100 of 250,000 federal tax returns prepared and filed so far this year through the company have reported cryptocurrency gains and losses, Credit Karma told CNBC on Tuesday. “Generally, […]

Arizona, Colorado, and Wyoming Take Action in Support of Cryptocurrency

(TIM) — Lawmakers in Arizona, Colorado, and Wyoming have all recently taken legislative action that seeks to further support cryptocurrency. On Thursday, the Arizona Senate passed a bill that would allow residents to pay income taxes using Bitcoin and other cryptocurrencies. This implementation has practical significance, allowing the use of cryptocurrencies as a payment option in a state revenue […]

Cryptocurrency: With Inequality Rising, Citizens Seek Alternative Economies

The year 2017 will go down as a particularly tough one for ordinary citizens, particularly in the global South. A sharp rise in government restrictions on fundamental freedoms across regions, as well as in levels of inequality, played a big part in that negative review.
According to a recent Oxfam report, 1% of the world’s richest elites now own 82% of the world’s wealth, with a dollar billionaire having been created every two days in 2017.

3 Reasons Why Credit Cards Are Now Blocking Cryptocurrency Purchases

(TIM) — Recently, several major card issuers have banned cryptocurrency purchases with credit cards. While it can be easy to think that this is a move specifically to attack crypto, let’s not forget that debit card and bank transfer purchases are still allowed. So why ban credit cards? Well, there are three main reasons why card companies would be […]

Coincheck in Tokyo Loses $400-Million in Cryptocurrency Heist

Japan: A cryptocurrency exchange called Coincheck was hacked on January 25 and lost $534-million in NEM tokens, a lesser-known cryptocurrency. This loss is higher than the Mt. Gox theft of 2014. Coincheck says it will use its own money to reimburse all 260,000 affected users, though it didn't specify when it will start disbursing funds. [...]