While it’s been quite a while, we hope everyone is ready for the hottest news in crypto to start rolling out once again starting with issue 16 of the Keep Ngaged newsletter! Before we get into the news, let’s see what our friends at Paypie have in store.
Paypie has been pushing ahead ever since working with Canadian authorities, and have recently published Q&A’s for their current investors and future users. With seventeen burning questions answered, it’s a great resource to turn to for a deeper dive into the Paypie project.
For the first time since 2014, the IRS is detailing how it will tax cryptocurrency holdings. Here's what you need to know.
The hottest topic circling around the crypto sphere today is the newest clarifications released by the IRS for the tax season. While some clarifications, like first-in-first-out procedures, were welcomed, regular users of cryptocurrency staunchly bemoaned the clarification that small uses of the currency, such as buying your favorite cup of coffee, are still taxable events.
The U.S. Securities and Exchange Commission has reportedly entered settlement talks with alleged fraudulent cryptocurrency firm Veritaseum.
Veritaseum has a lot to answer for in the eyes of the SEC. The governmental body claims that the sale of Veritas were unlawful securities, issued on false claims and promises.
A Chicago bankruptcy judge has ordered that Bcause LLC's bankruptcy case be converted from a Chapter 11 reorganization to a Chapter 7 liquidation.
A judge has weighed in and made an official judgment in the case of Bcause, a Virginia-based crypto mining company. Instead of allowing a Chapter 11 bankruptcy, it will proceed forward as a Chapter 7 liquidation. The company is said to owe nearly 13.3 million dollars.
Analysis from around the web:
Let’s take a look at what a few experts have to say around the current price action of Bitcoin and Crypto. Please remember that these are strictly the opinions of third parties and these authors are not affiliated with Ngaged.
Bitcoin has rallied to touch $8,600, while major altcoins follow in its wake; Chainlink is seeing daily gains of almost 14%.
Sentiment and Politics:
Man, this month has been a ride. From a sideways transition to a straight dead drop, it’s just another loop on this crazy roller coaster ride known as crypto. We’ve rallied a bit since then, but with greater government influence seeping in, it’s starting to show through the cracks. We’re starting to see the real beginnings of adoption, as with more regulation comes more public acceptance.
While the IRS stating that crypto works as a property transaction does put a damper on widespread use in the US, it is still a long way to go to shift public perception to accept it as easily as one would a dollar bill. It’ll be interesting to see how the government entities really grasp the technology and its implications as blockchain development becomes commonplace.
Reporting the hottest news in the crypto space to you as always, this has been Derek Clauson, signing off. I’ll see everyone next week!
What are your thoughts on the future of the crypto markets? Have you seen an article you would like featured? Leave a comment below and let us know what you’d like to see in upcoming issues. We’ll see you next week and remember to Keep Ngaged!
This issue of Keep Ngaged was brought to you by the community experts at Ngaged. If you’re looking to nurture a great community of your own for your crypto or blockchain company, be sure to check out Ngaged.io and get in touch. To learn more, take a look at one of our recent articles on why community management matters.
About the author: When not chasing down the latest news and strategies in crypto marketing, Derek spends his time helping build up successful blockchain companies through Ngaged.io and reading on the couch with his dogs.