How to determine crypto cost basis for accurate tax filings

On March 16, YouTube released a statement warning its creator community that video removals may increase during the coronavirus pandemic. The popular video-sharing platform said that its system currently relies on a combination of people and technology, noting that machine learning is being leveraged to detect potentially harmful content. Once these algorithms find “harmful content,”…

Though the SEC has pursued many enforcement actions related to initial coin offerings, the regulator’s stance on airdrops’ role in alleged token schemes is unclear. 196 Total views 8 Total shares The United States Securities and Exchange Commission, or SEC, has announced charges against Hydrogen Technology Corporation and its market marker Moonwalkers Trading Limited related…

Most cryptocurrencies are likely to be regulated as securities in the United States according to the CEO of Intercontinental Exchange Inc (ICE), Jeffrey Sprecher, and Senator Elizabeth Warren. The renewed focus on regulating cryptocurrencies as securities comes in light of FTX’s recent implosion, which wiped countless billions from the market, put consumer funds in limbo…

San Francisco-based cryptocurrency exchange Kraken has raised over $13 million in financing on online investment platform BnkToTheFuture.Kraken has raised $13.5 million from 2264 investors, surpassing its initial target of $10.2 million purportedly due to popular demand. The fundraising campaign of Kraken — which has over four million clients in nearly 200 countries — is the…

Ethereum layer-2 scaling network Starknet has outlined plans to improve the decentralization of three core components of its zero-knowledge (ZK) proof rollup solution.Speaking exclusively to Cointelegraph, Starknet product manager and blockchain researcher Ilia Volokh outlined the firm’s intent to address certain centralized elements of its protocol aimed at defending against censorship and making its system more

Solana, the smart contract platform that recently entered the spotlight thanks to FTX’s Serum, announced the upcoming release of what it says is a decentralized bridge for Ethereum ERC-20 tokens.Called Wormhole, the bridge would allow users to transfer value between the different blockchains, turning ERC-20 tokens into Solana’s corresponding SPL standard.The bridge is currently being…

Bitcoin made a swift 20% recovery from the weekend’s bloodbath, while American banks prepare to post major losses in their upcoming quarterly reports. 6487 Total views 15 Total shares The dollar value of Bitcoin (BTC) jumped 20% overnight leading into Jan. 12, as the world’s most well-known cryptocurrency recovered swiftly from a 27% decline suffered…

The USDT issuer has faced criticisms for its exposure to commercial paper and, specifically, its alleged holdings of Chinese commercial paper. 267 Total views 26 Total shares Stablecoin issuer Tether Holdings Limited has unwound its exposure to commercial paper, addressing a long-standing item of contention among detractors who’ve criticized the quality of its reserves. In addition…