Someone familiar with the situation stated that the cost was below the $250 million that was spent on acquiring the custody firm Metaco back in May.
Thodex, once among Turkey's leading cryptocurrency exchanges, abruptly ceased operations in April 2021, coinciding with the disappearance of its founder, Özer.
Sen. Bill Hagerty, a member of the Senate Banking Committee from the Republican party, advocates for a more comprehensive examination of the relationship between the securities regulator and the digital assets sector.
Any cryptocurrency capital gains, capital losses, or income events need to be reported on your tax return. You can report these events on Form 8949...Read more
Reporting capital losses comes with a tax benefit. Reporting capital losses can offset capital gains and up to $3000 of personal income.Read more
Not reporting cryptocurrency on your taxes is considered tax evasion. The maximum penalty for tax evasion is a $100,000 fine and 5 years imprisonment.Read more
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