IRS will implement a third-party reporting system for crypto asset transactions on CEXs such as Coinbase and Gemini. According to reports, custodial account transaction information involving crypto assets will be synchronized to the IRS through Form 1099-DA and
For the CFTC to fold on a case like this for only a $5 million settlement is indicative of a much more dovish stance,” said Joe Doll, general counsel for Magic Eden, who is not involved in the matter.
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The U.S. Court of Appeals for the Third Circuit ruled on Jan. 13, 2025, in favor of Coinbase in its legal battle with the Securities and Exchange Commission (SEC).
IRS mandates centralized crypto platforms like Coinbase to report transactions via 1099-DA in 2025, affecting US investors' tax filings.
The Gemini Trust Co. LLC, the New York-based cryptocurrency exchange founded by the Winklevoss twins in 2014, has agreed to pay a $5 million civil penalty to settle a lawsuit filed by the U.S. Commodity Futures Trading Commission over allegedly misleading statements it made about how easily the price of bitcoin futures could be manipulated.
In the next few months, most Americans will be focused on getting their tax documents together to complete their 2024 returns.
Crypto exchange Gemini agreed to pay $5 million to settle a case with the U.S. Commodity Futures Trading Commission over allegedly misleading statements it made more than seven years ago about how easily the price of a bitcoin futures contract could be manipulated.
Crypto tax changes for 2025: centralized exchanges like Coinbase and Gemini will report your transactions to the IRS using the new 1099-DA form.
The crypto industry has high hopes that United States President-elect Donald Trump will bolster crypto adoption both in the US and globally. However, only time will tell if his newly launched Solana-based memecoin is a step in the right direction.
The official memecoin of the 47th U.S. president will be listed on most major crypto exchanges, even though the MAGA fan token faced trouble getting listed.
One of many Washington celebrations ahead of Trump’s Monday swearing-in, the crypto gala marks a stunning turnaround for an industry that has been in the Biden administration’s crosshairs. Two years ago, it looked to be on the brink of extinction amid the collapse of FTX.