Rep. Jared Polis, D-Colo., and Rep. David Schweikert, R-Ariz., co-chairs of the Congressional Blockchain Caucus, introduced the Cryptocurrency Tax Fairness Act of 2017 today. In 2014, the IRS classified digital currency as property. The outdated guidance classifies even the smallest of cryptocurrency transactions the same as buying or selling stock, which dis-incentivizes consumers from using … Read moreCryptocurrency Tax Fairness Act offers Tax Parity in the USA
The Uniform Law Commission (ULC) approved six new acts, including a new act regulating virtual currency businesses during their 126th Annual Meeting in San Diego, California. The Uniform Regulation of Virtual Currency Businesses Act creates a statutory framework for regulating virtual currency business activity, which includes businesses engaged in the exchange of virtual currencies for cash, bank deposits, … Read moreUniform Regulation of Virtual Currency Businesses Act Approved
Juan Llanos is an experienced risk, blockchain and financial compliance subject matter expert and certified anti-money-laundering specialist. He writes about risk and virtual currencies on his blog ContrarianCompliance.com. Two big market failures over the summer, however, The DAO debacle and the Bitfinex hack, have yet to elicit a visible reaction from a regulator. Many of … Read moreHow Will the Trump Administration Impact the Blockchain Market?