A digital asset is generally anything created and stored digitally, is identifiable and discoverable, and has or provides value. Digital assets have become more popular and valuable as technological advances integrate into our personal and professional lives. Data, images, video, written content, and ...
Effective January 1, 2025, the proposed regulations aim to align digital asset tax reporting with traditional financial instruments.
Bank of Italy issued a public consultation proposing to extend the Regulation on customer due diligence and the Regulation on organization, procedures and internal controls to crypto-asset service providers (“CASPs”)...more CFPB Proposal to Broaden EFTA/Reg E Scope has Implications for Crypto, ...
DTCC Announces Industry Sandbox to Support and Advance the Digital Asset Ecosystem October 16, 2024 CoinShares Selects TS One for New Fund August 2, 2024 Cboe Partners with FTSE Russell in Digital Asset Reset July 8, 2024 Hidden Road, Trading Technologies Partner on Multi-Asset Trading ...
Starting January 1, 2023, the amendment requires “brokers” of digital assets[2]to report information to the IRS.[3]There was an industry concern that the broad definition of broker would require not only “brokers,” but also digital asset miners, stakers, and software developers to report...
For Digital Asset Brokers, this means: Leveraging solutions like Taxbit’s automated compliance platform to stay ahead of the curve. Staying informed about IRS updates and technical guidance. Ensuring that your reporting infrastructure is prepared for the finalized Form 1099-DA. At...
In addition, failing to achieve the financial model projections for an acquisition or changes in technology development and related roadmaps following an acquisition may result in the incurrence of impairment charges (including goodwill impairments or other asset write-downs) and other expenses, both ...
Goodwill and Intangible Asset Impairment There were no goodwill impairment charges recognized during the year ended September 30, 2024. During the year ended September 30, 2023, we recognized a goodwill impairment charge of $7.5 million. Acquisitions We continue to evaluate expanding the distributi...
IRS and Treasury issue proposed regulations outlining new digital asset reporting regime Transferring digital assets under UCC Article 8 Creating an insider trading policy for your company’s digital assets: why to write one and what to consider In case you missed ...
(IRS) to collect an additional $28 billion in tax revenue over ten years. However, the broad definition of “broker” sparked significant backlash throughout the cryptocurrency community, resulting in an unusual few days of proposals and counterproposals. While the short-term result was that the...