Tag: Virtual Currency

Cryptocurrency Terminology

Key Cryptocurrency Terminology

In a previous post on cryptocurrency, we discussed the formation of the New York Cryptocurrency Task Force and its purpose. As we discussed, this unit will play a big role in shaping New York State policy regarding cryptocurrency. What’s more, this unit may ultimately end up impacting the policies of other states and even foreign […]

New York Cryptocurrency Task Force

New York Cryptocurrency Task Force

Recently, we discussed the basics of BitLicense, the credential required by New York State for cryptocurrency-based businesses. New York has also introduced another measure to impact cryptocurrency business and transactions in NY and throughout the country. Specifically, Governor Andrew Cuomo has assembled a New York Cryptocurrency Task Force”. Its goal is to study, discuss and […]

New York BitLicense

New York BitLicense Laws

Back in 2014, the superintendent of New York’s Department of Financial Services (NYDFS), Benjamin Lawsky, designed New York’s special license for cryptocurrency businesses. This special license, known as a New York BitLicense, attempts to regulate and better control the cryptocurrency industry. The license encourages compliance with the terms and conditions of applicable regulations. It also […]

Bitcoin Futures

ICE Bitcoin Futures Contracts

More and more, bitcoin and other cryptocurrencies are taking root in the mainstream commercial world. This has occurred in tandem with the IRS’ recognition of digital currency as a legitimate, taxable property. One way that cryptocurrency is taking root is by being accepted as currency by more and more mainstream firms. Another way is by […]

Block.one SEC Settlement

Block.one SEC Settlement Matters

In recent articles, we’ve touched on initial coin offerings (ICOs). We’ve seen how the SEC has had to reprimand certain companies due to various ICO missteps made by digital asset companies. For instance, we recently looked at the case of Munchee, Inc., and discussed the specifics of the federal crackdown on Munchee’s proprietary digital coin. […]

SEC Cryptocurrency

SEC Cryptocurrency Involvement

On our blog, we’ve covered quite a few issues related to cryptocurrency taxation and tax collection lately. What we haven’t talked about yet is initial coin offerings. Initial coin offerings, or ICOs, are similar to initial public offerings, which occur when a private company becomes publicly traded. We’ve seen multiple initial coin offerings in the […]

Cryptocurrency Tax

Cryptocurrency Tax Advice

Cryptocurrency tax debt collection is here to stay. This has been made very clear by recent statements of the IRS. The IRS has already put a great deal of effort toward backing up its stated intention to enforce tax laws on cryptocurrency gains. We’ve seen an example of this with the 10,000+ letters sent out […]

Cryptocurrency Personal Property Exchanges

Cryptocurrency Personal Property Exchanges

We’ve been discussing virtual currency, cryptocurrencies, and digital currency quite a bit lately here. That’s by design. They’ve all been in the media a lot lately. That’s largely due to the increased tax collection efforts by the IRS. Many bitcoin holders started out with the impression that they were “outside the system”. Despite those impressions, […]

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