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The two-pronged Eleventh Hour IRS squeeze on Bitcoin and crypto developers
The IRS is cracking down on noncustodial services with two new rules finalized between the years. Call it the 2024 Christmas Crypto Regulatory Shock. In a manner of days, the Internal Revenue Service has provided clarity on two separate regulations that will have an intimidating impact on anyone who uses what the government deems digital assets. Both of…
The Smart Way to Think About Crypto Regulation
Within the usually boring procedure of shepherding another massive infrastructure bill through Congress last month, a fiery debate erupted over the future of cryptocurrencies and digital assets. The Senate bill contained broad language to ensure tax and regulatory compliance on all cryptocurrency transactions, regardless of origin, as a revenue generator. However, traditional financial transactions cannot compare to…