Remove blog accounting crypto-payments
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Coinbase Offers Bitcoin Cash Loans Of Up To $20K In 17 US States

PYMNTS

Coinbase, the digital currency exchange, will offer bitcoin-backed cash loans to select customers as early as next month, the San Francisco-based company announced on its blog this week. Customers in 17 states have been invited to join the waitlist to borrow up to 30 percent of their bitcoin holdings.

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Coinbase Approved For Principal Visa Membership

PYMNTS

The Silicon Valley cryptocurrency exchange Coinbase has become the first pure-play crypto startup to earn approval as a Visa principal member, the company said in a blog post on Wednesday (Feb. We are proud to be the first company in the crypto ecosystem to be granted Visa principal membership.

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Circle Revamps Stablecoin Platform As USDC Grows 500 Pct

PYMNTS

USDC circulation is up 400 million since January and has handled in excess of $200 billion in on-chain payment volume, according to David Puth, chief executive officer of Centre Consortium, which was founded by Circle and Coinbase.

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Fed Analysts Say Authenticating Digital Cash Can Be Difficult

PYMNTS

A post from Liberty Street Economics , a research blog of the Federal Reserve Bank of New York , posited that the usual distinction between “token-based” and “account-based” cryptocurrencies are overly simplistic because several popular digital coins, including Bitcoin, could be both. Bitcoin, for example, fits both categories.

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Crypto Winter: Will smaller Crypto Exchanges be ready for new 1099 reporting?

ThomsonReuters

Chen, Tax & Accounting Senior Specialist Editor. Commentators have called the current situation regarding depressed cryptocurrency prices a Crypto Winter. There has been speculation that during these times some smaller crypto exchanges may be on the brink of solvency distress (brink exchanges). It is very hard to imagine.

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Taking Aggressive Tax Positions in Light of the Expected IRS Hiring Binge

Withum

The payment and deduction of cash “wages” has several problems, not the least of which is that wages often are not reported by the recipient and taxes therefore go unpaid. The government is also suspicious about wages paid in cash because the payments are hard to substantiate. Yeah, I thought so! Cash tips fall into this category.

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IRS launches Operation Hidden Treasure and the implications for CPAs

ThomsonReuters

2020 – Move Virtual Currency Question to 1040, page 1 and IRS sends out second round of notices to crypto taxpayers. 2019 – IRS sends out the first round of notices to crypto taxpayers and adds a Virtual Currency Question to 1040, Schedule 1. Taxpayers need to consider crypto when filiing. Ledgible by Verady.

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