The IRS’s recommendation to check “Yes” boils down to receiving, earning, transferring or selling cryptocurrencies for any monetary benefit, including mining and staking.
Arijit Sarkar
Arijit Sarkar is an editor at Cointelegraph who likes analyzing on-chain data across the crypto ecosystem. Bitcoin, Ethereum and NFTs are his primary interests when it comes to reporting news. He also enjoys interviewing industry leaders to discuss and gain insights on niche crypto development.
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IRS reminds taxpayers of crypto income reporting ahead of 2022 filing - News
CZ predicts ‘existential implications’ for anti-crypto traditional finance While the reluctance of traditional players is a deterrent to crypto’s adoption in the short term, CZ argues that the decision might backfire over the next two decades.
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Central African Republic eyes legal framework for crypto adoption A 15-member committee is tasked with working on a legal framework that will allow cryptocurrencies to operate in Central African Republic and expedite the development of the national economy.
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FTX VCs liable to ‘serious questions’ around due diligence — CFTC Commissioner The lack of recordkeeping of FTX coupled with “an auditor no one’s ever heard of” forces the CFTC to ask questions about the mindset of the institutional investors.
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Dogecoin carbon emissions down by 25% following Elon Musk collaboration When Musk backtracked on accepting Bitcoin payments for Tesla, he believed that Dogecoin — “even though it was created as a silly joke” — was better suited for transactions.
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Polygon enlists Xternity to migrate multiplayer Web3 game from Solana To help transfer Synergy Land’s resources onto the EVM chain, Xternity proposed a process — via its network migration tool — that can be used to migrate games or projects across chains.
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Cross-border crypto scammers on the hit list for EU agencies Europol and Eurojust, two EU agencies for law enforcement cooperation, joined authorities from Bulgaria, Cyprus, Germany and Serbia to investigate online investment fraud since June 2022.
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Trust is key to crypto exchange sustainability — CoinDCX CEO With all eyes on crypto exchanges, rebuilding trust — through increased transparency, safety and effective policies — has become the top agenda for entrepreneurs worldwide.
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Bitcoin nodes data: Frankfurt houses the largest city-wide network Distributed across 5,773 cities worldwide, over 60% and 14% of the Bitcoin nodes run on IPv4 and IPv6 protocols, respectively, while more than 25% run anonymously on .onion.
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Turkish automaker Togg onboards Metaco for crypto custody and governance The partnership with Metaco will include using its digital asset custody and orchestration system, Harmonize, to safeguard the custody and governance of Togg’s digital assets.
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Less than 100 Bitcoin ATMs added worldwide in the second half of 2022: Data Over the last six months, between July to the end of 2022, just 94 Bitcoin ATMs were added to the global network.
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Wyre imposes up to a 90% withdrawal limit for all users Wyre has imposed a daily withdrawal limit on its platform, citing “the best interest of our community.”
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Ferrari cuts ties with crypto sponsor ahead of 2023 Formula One season The Ferrari-Velas partnership from 2021 — set at $30 million a year — was aimed at increasing fan engagement through nonfungible tokens (NFTs) and other shared initiatives.
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Metaverse to possibly create $5T in value by 2030: McKinsey report The success of metaverse will rely on a greater focus on maximizing the human experience aimed at delivering positive experiences for consumers, end-users and citizens.
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Crypto regulation world: How laws for digital assets changed in 2022 While regulations were once seen as hurdles to crypto adoption, they are now perceived as the fastest way to attain global mainstream adoption.
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Iran court orders the release of seized crypto mining equipment Judicial rulings require Iranian authorities to release a part of the 150,000 crypto mining equipment previously seized due to energy concerns.
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Rewind 2022: A crypto roundup of the year and stepping into 2023 While 2022 proved catastrophic for investors across traditional and crypto markets, the crypto ecosystem’s potential has outshone inflation and centralized custody of assets.
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Australia overtakes El Salvador to become 4th largest crypto ATM hub El Salvador’s position as the fourth-largest crypto ATM hub was short-lived as Australia stepped up its game over the following months.
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Sam Bankman-Fried reportedly will plead not guilty to criminal charges Following a court hearing on Dec. 22, SBF was released on bail and is slated to appear in court on Jan. 3 before U.S. District Judge Lewis Kaplan in Manhattan.
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ETH staking on top exchanges contributes to Ethereum censorship: Data One of the biggest factors harming Ethereum’s credible neutrality is the use of censoring MEV relays by crypto ecosystems and exchanges.
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1inch launches Fusion upgrade to improve swap security and profitability As a decentralized trading and matching system, the 1inch Swap Engine connects DeFi users and provides liquidity for crypto trades through professional market makers.
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DeFi flash loan hacker liquidates Defrost Finance users causing $12M loss Moments after a few users complained about the unusual loss of funds, Defrost Finance’s core team member Doran confirmed that Defrost V2 was hit with a flash loan attack.
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Sam Bankman-Fried found ‘chilling’ in JFK airport lounge on $250M bail bond Based on the pictures, crypto community members confirmed that SBF’s location was the Greenwich (Business Class) lounge in American Airlines’ Terminal 8.
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FTX paid $12M retainer to a New York law firm before bankruptcy filing Sullivan & Cromwell LLP (S&C), a law firm headquartered in New York City, received $12 million from West Realm Shires Services Inc. on behalf of FTX for legal services.
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Public Bitcoin mining companies plagued with $4B of collective debt The Bitcoin mining community took up massive loans during the 2021 bull market, negatively impacting their bottom lines during a subsequent bear market.
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Judge pulls out of SBF-FTX case citing husband’s law firm’s advisory link Judge Abrams’ withdrawal from the FTX case eradicates any conflict of interest in the FTX case because Andres continues to serve as a partner at Davis Polk & Wardwell, a law firm that advised FTX in 2021.
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Bitcoin miner Core Scientific reportedly filing for Chapter 11 bankruptcy Core Scientific is reportedly filing for Chapter 11 bankruptcy protection in Texas due to falling revenue and BTC prices.
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Police body cam leaks suspect’s seed phrase during vehicle inspection A viral video making rounds on Twitter showed two police officers searching a suspect’s car and coming across pieces of paper, one of which contained seed phrases.
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Ethereum bulls wake up after four years to transfer 22,982 ETH The ETH tokens in question originated from trading platforms Genesis and Poloniex and were found transferring 13,103.99 ETH and 9,878 ETH, respectively.
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OKX cites intermittent outage amid Alibaba Cloud equipment anomaly Alibaba Cloud Hong Kong IDC Zone C server went offline on Saturday at roughly 10 pm ET and failed to recover for over 7 hours at the time of reporting.