Norwegian Tax Authorities Warn Crypto Users to Declare Earnings

With the April 30 tax filing deadline looming, the Norwegian Tax Administration has advised crypto holders to declare their earnings.

Norwegian authorities urge crypto users to declare earnings on upcoming return

"Our experience is that most people will follow all laws and regulations, and we will help those who invest in crypto to do it right," said Marius Johansen. The Norwegian Tax Administration has issued a warning to crypto traders in advance of Norway's April 30 deadline to file tax returns. According to a notice from the Norwegian Tax Administration on Wednesday, the government agency advises all taxpayers who owned or sold crypto in 2020 to enter it on their returns or "risk paying additional tax." The NTA said roughly 2% of cryptocurrency holders declared what tokens they owned or earned in 2019, less than 4,700 people out of an estimated 235,000. "We think a lot of the gap is due to the fact that some crypto owners mistakenly assume that cryptocurrency is pre-filled in the tax return and have not thought that they are the ones who have to list this," said NTA senior adviser Marius Johansen.

TeraBlock exchange raises $2.4M to develop crypto newbie-friendly interface

The platform can reportedly execute trades automatically based on up to four risk-reward profiles that crypto users choose themselves. UK-based crypto exchange TeraBlock announced the completion of a funding round which would reportedly provide an on-ramp for new crypto users. In an announcement today, TeraBlock said it had secured $2.4 million in funding from major investors including AU21 Capital, Blockchain.com, Blocksync Ventures, BTX Capital, CryptoDormFund, and others.

Crypto users demand reinstatement of Pakistani government adviser following sudden resignation

Zia Ullah Bangash's potential departure from an important role in facilitating Pakistan's regulatory environment for crypto had many threatening to withhold votes and demanding answers. Many users on social media have started an online campaign for Pakistan Prime Minister Imran Khan to bring back pro-crypto adviser Zia Ullah Bangash. On Saturday, Bangash, the science, technology, and information technology adviser to Mahmood Khan, the chief minister of the Khyber Pakhtunkhwa province, announced he would resign his position.

Lawyer Files Class Action Complaint to Stop Argentinean Central Bank from Collecting Crypto Users Data

The idea of the Argentinean central bank asking local banks for information on customers who deal with cryptocurrencies is generating controversy in the local industry.

Signal Turns Into Noise With MobileCoin Integration

Private messaging app Signal, which is also popular among crypto users, announced they're launching payments using MobileCoin (MOB).

US Court Authorizes IRS to Summon Cryptocurrency User Records From Circle and Poloniex

The Internal Revenue Service (IRS) has obtained authorization from a federal court to seek information on cryptocurrency users from Circle and Poloniex exchange platforms.

Indian crypto users suspect Flipkart's Bitcoin announcement is an April Fools joke

True or not, the timing of the announcement is suspect given many companies' apparent fondness for pranking customers on April 1. Flipkart, India's largest e-commerce company by sales, has said it will be accepting Bitcoin payments in what many suspect is an April Fools’ Day prank. In an announcement on Twitter today at 11:30 pm India Standard Time, Flipkart said it would be accepting Bitcoin (BTC) “as a convenient mode of payment” for its online marketplace.

Crypto Community Asks Who's Next As SEC Hits Decentralized LBRY

Crypto users and advocates are rallying somewhat uncertainly around the cause of the decentralized content platform operator LBRY.

NFT craze and institutional money to bring next 100 million crypto users, says Crypto.com CEO

The two main factors driving mass adoption are converging, says Crypto.com CEO Kris Marszalek. Watch Cointelegraph’s latest interview with Crypto.com CEO Kris Marszalek to understand the catalysts that will push crypto to 200 million users.

New tech allows crypto users to mint NFTs with 'proof of presence'

IoTeX's project uses "verifiable GPS data to mint NFTs that prove you were at a certain place at a certain time," said Larry Pang. The latest product from IoTeX, a privacy-focused platform for the Internet of Things, reportedly brings the concept of a smartphone’s trusted execution environment with real-world data to the crypto space. Head of business development at IoTeX Larry Pang told Cointelegraph that the firm’s Pebble Tracker, a device capable of recording and encrypting data from the physical world, offers a new way to bring data ownership to users.

Federal judge's decision could be a blow for the privacy rights of crypto users

The Internal Revenue Service will likely not be penalized for obtaining records on a crypto user from Coinbase or Abra. A federal judge has implied that an individual may not have the right to force the Internal Revenue Service, or IRS, to expunge financial records it obtains from crypto exchanges. In granting a motion to dismiss filed in December, Judge Joseph DiClerico in the District of New Hampshire suggested the Internal Revenue Service has no obligation to honor requests to purge crypto transaction records it received from Coinbase or other exchanges regarding information for federal taxes.

Polkadot becomes latest to use Simplex's fiat onramp

The integration with Simplex will provide DOT users another route from fiat into crypto. Fiat-to-crypto onramp provider Simplex will now support Polkadot in its network of crypto exchanges, wallets, and brokers. In an announcement today, Simplex said its integration of Polkadot (DOT) would allow crypto users to purchase the token with a credit or debit card, Apple Pay, or bank transfer.

US-based crypto users likely still have to pay taxes on NFTs, says CNBC

"If you exchange crypto for any other asset, you immediately recognize a capital gain or loss," said Robert Frank. Tax season is almost upon crypto users based in the United States, and even if they plan on keeping their assets digital, nonfungible token — or NFT — buyers might not get off scot-free. According to a CNBC report today, people who use the profits from their crypto holdings to purchase NFTs will likely still have to pay capital gains tax up to 20% when filing their US taxes.

Crypto Exchanges Might Be Getting Around 100K New Users Per Day - Analyst

While multiple companies sharing how many millions of new crypto users they've got recently, one popular crypto analyst made an estimation, how many new bitcoin (BTC) traders crypto exchanges might be getting per day. Willy Woo shared that, based on the data provided by on-chain analysis firm Glassnode and the Cambridge Centre for Alternative Finance, the number of new BTC

India's Finance Minister Says a "Window" for Bitcoin is Coming

A new bill could see Indian crypto users face harsh penalties.

Badger DAO to acquire ‘Badger.com’ domain for $300,000

Badgers now have a new home: the DeFi protocol has purchased the "badger.com" domain for a tidy $300,000 The Badger DAO community is ‘sett’ to migrate to some new ‘diggs’: the decentralized finance project will shortly become the new owner of the “Badger.com” web domain.  In a Badger Improvement Proposal listed on governance forums today, BIP-43, BadgerDAO founder Chris Spadafora wrote that the new domain will “quickly increase the value [of the app] across all these categories (daily traffic, referring websites, search engine optimization etc.)” “As Badger expands to become the most trusted place for anyone to put their Bitcoin to work, it’s important that the first experience for non native crypto users is comfortable and that we help them quickly overcome the common stigma that surrounds the cryptocurrency industry today,” Spadafora told Cointelegraph of the buy.

UK Budget: Bitcoin Holders Could Face Massive Capital Gains Tax Hike

Big increases to the UK's capital gains tax are on the cards in tomorrow's Budget—with serious implications for crypto users.

India: Are authorities really seizing crypto hardware wallets?

While the lack of regulations for cryptocurrencies has evolved into a problem in India, crypto-users in the country have not been discouraged yet, with many seeking ways to get on the same page as law The post India: Are authorities really seizing crypto hardware wallets? appeared first on AMBCrypto.

Crypto Users Claim Popular Bitcoin Paper Wallet Generator Is Compromised, Millions Allegedly Stolen

A number of forum posts and tweets say that the website bitcoinpaperwallet.com is compromised and people have said they have lost bitcoin using the paper wallet generator.

3 types of bitcoin investors that ‘should be concerning to central banks’

With 106 million global crypto users as of January 2021 and a crypto population that has now surpassed 100 million, a financial expert noted that central banks must now be wary of certain crypto inves The post 3 types of bitcoin investors that ‘should be concerning to central banks’ appeared first on AMBCrypto.

Robinhood Has Added 6 Million New Crypto Users in 2021

The trading platform has had its share of problems this year.

Total estimated crypto users worldwide tops 100 million, survey finds

Bitcoin's runaway growth in January boosted the global crypto user base by close to 16%, according to an analysis from Crypto.com. Crypto exchange and debit card provider Crypto.com has published a new report estimating that the total number of crypto users globally rose from 66 million in May 2020 to 106 million by January. Given the complexity of mapping unique crypto wallet addresses onto the number of persons, Crypto.com's methodology combines on-chain data with several blended parameters to calculate separate estimates for the two largest cryptocurrencies by market capitalization, Bitcoin (BTC) and Ether (ETH).

Crypto Earning vs. Savings Accounts: How You Can Get Up to 17% Annually Holding Digital Assets

The mainstream has caught a whiff of the gains cryptocurrencies like bitcoin and ethereum have seen, but many people are not aware of the passive income crypto users are getting as well.

More harm than good? Nigerian crypto users in disbelief over CBN ban

Crypto and blockchain stakeholders in Nigeria have criticized the central bank’s decision to ban banks from servicing crypto firms. The Central Bank of Nigeria has banned banks from servicing crypto exchanges in the country in a move that echoes actions taken by its Indian counterpart back in 2018.

PayPal's Crypto Payments Are Coming to the UK This Year

After seeing larger than expected demand from US crypto users, PayPal has set a timeline for UK expansion.

Youngest HODLer ever? Elon Musk buys DOGE for his 9-month-old son

"Toddler HODLer" may soon become a new meme in the crypto space. Elon Musk’s child with Canadian musician Claire Elise Boucher, or Grimes, may now be one of the youngest public crypto users on record. In a tweet today from the Tesla CEO, Musk said his 9-month-old son is now the proud — or maybe just fussy — owner of some Dogecoin (DOGE), referring to him as a "toddler HODLer." The boy, born last May, is named X Æ A-Xii — pronounced “ex ash eh twelve” — with the last two syllables an homage to Lockheed’s A-12 aircraft. Bought some Dogecoin for lil X, so he can be a toddler hodler— Elon Musk (@elonmusk) February 10, 2021 Musk’s recent tweets have likely fueled the price of DOGE since January.

Elon Musk Bites Back at Freewallet After Dogecoin Tweet

The Tesla CEO said crypto users should avoid wallets that do not give them access to their private keys

Press and internet freedom advocates join crypto users in support of Wikileaks' Assange

Digital and journalistic rights are at stake in the trial for Julian Assange's extradition, say 24 major advocacy groups.

How a Lawsuit Against the IRS Is Trying to Expand Privacy for Crypto Users

Harper’s case may have widespread implications for privacy laws regarding cryptocurrency users if he wins.

DOGE is 'not a bad look' for crypto users, says Mark Cuban as price surges another 8%

The billionaire described the token as “the lowest cost economics teaching tool available” on the market. Amid recent endorsements from celebrities and people in tech, the price of the meme-based cryptocurrency Dogecoin has surged more than 700% in the last month.

Nigeria’s Central Bank Orders Banks to Close Accounts of All Crypto Users

Any breaches of the order would face "severe regulatory sanctions," the central bank warned.

Discord Scammers Lure Users to Fake Exchange With Promise of Free Bitcoin

The scammers may be trying to collect a database of crypto users for sale on the dark web, said Kaspersky.

South Africa’s Tax Agency Is Clamping Down on Crypto Users: Report

The South African Revenue Service is likely "ensnaring" non-compliant taxpayers, a tax consultancy said in a news report.

Brave New Coin partnership will help Nevada crypto users reach new 'high'

Cannabis users in the state may soon be able to pay for their green without cash. Digital asset market data firm Brave New Coin may soon be helping Nevada residents buy marijuana using crypto. According to Brave New Coin, blockchain firm Multichain Ventures will be using the company’s data and pricing infrastructure to fulfill regulatory requirements for cannabis businesses in the state of Nevada.

Following Grayscale's contribution, Kraken donates $100K to Coin Center

The crypto exchange cited Coin Center’s work in challenging the proposed FinCEN self-hosted wallet rule as well as the STABLE Act from the US government. Kraken has pledged $100,000 to Coin Center, a cryptocurrency advocacy group based in Washington D.C. In a blog from the crypto exchange today, Kraken said it had donated the funds to promote Coin Center’s work in educating regulators about digital assets an advancing the rights of crypto users.

Survey: 25% of crypto users not securing assets as well as they think

Although 96% of exchange users utilize some form of 2FA, and 87% of hardware wallet users perform test transactions. Cryptocurrency hardware wallet manufacturer Ngrave released the initial results of its ongoing crypto security survey on Jan.

One Big Reason to HODL Bitcoin: to Lower Taxes

Shehan Chandrasekera of CoinTracker told The Decrypt Daily that US-based crypto users should understand long-term capital gains taxes.

FinCEN's wallet rule is open for another day of comments because 'government officials can’t count to 15'

The website accepting comments on the proposed FinCEN rule shows crypto users have until Jan.

Ethereum Rally Fails to Spark Chinese Interest as Bitcoin Hogs Limelight

Racing ethereum (ETH) prices have seemingly failed to impress Chinese crypto users, with interest in the token – as well as blockchain technology – almost unchanged despite record-breaking recent altcoin rallies. Data from WeChat shared on Twitter by Primitive Crypto co-founder Dovey Wan showed that while interest in bitcoin (BTC) spiked as the token broke through the

Jack Dorsey warns that FinCEN regulations will drive crypto users offshore

Major US crypto firms are united in opposition to new AML laws proposed by FinCEN, warning they could drive users away from regulated platforms and stifle innovation.

Crypto users donate $400K to Julian Assange defense as Mexico proposes asylum

A UK judge ruled against extraditing the WikiLeaks founder to the US in response to his legal team arguing he would have a "high risk of serious depression leading to suicide." Amid speculation on social media that United States President Donald Trump may still pardon Julian Assange before leaving office, lawyers are preparing the WikiLeaks founder for many possible legal outcomes as crypto users open their wallets.  According to Twitter user Whale Alert, users have donated a sizable amount of Bitcoin (BTC) toward the legal defense of WikiLeaks and Assange in the last week.

Heavy hitters of crypto call for users to comment on proposed FinCEN wallet rule

Coinbase is the latest company to go public with its concerns regarding the US Treasury proposal on crypto wallets. A number of players are encouraging individuals to speak out against FinCEN’s new crypto rules before comments close next week. Crypto exchange Coinbase and the foundation behind Monero are the latest firms to join in calling for crypto users to share their thoughts on the US Treasury's Financial Crimes Enforcement Network’s new rules.

Argentina: An Explosion of New Crypto Users is Flooding the Ecosystem

The financial crisis in Argentina is having a positive effect on Bitcoin.

Tax justice for crypto users: The immediate and compelling need for an amnesty program

A crypto tax amnesty program could be the fairest way for achieving tax compliance and collection on crypto transactions. The United States Internal Revenue Service is blinded by its desire to defeat cryptocurrency.

Survey: There Is ‘Significant Room’ for the NFT Market to Grow Despite Widespread Lack of Knowledge Among People

A survey about non-fungible token (NFT) trends on crypto users revealed that 47% of correspondents had heard of NFT, and among these, 63% of them had only a basic understanding about it, while 57% of them had never used them.

IRS tax form question leaves US crypto users confused and concerned

This year’s Form 1040 requires all US taxpayers to answer a question about whether they traded or acquired “virtual currency” during the year. Crypto users in the US have taken to Twitter to express their confusion and frustration over the wording of a question about virtual currencies on this year’s tax return form. On Dec.

Paypal’s Stock Soars to All Time High as Demand for BTC on the Platform Now More Than Supply of New Coins

E-commerce giant Paypal’s stock price surged to a new all-time high of $223.16 on Monday, December 14.

Crypto users split on taking out loans to buy Bitcoin dips

Some crypto investors are willing to risk extensive financial obligations for a chance to get into Bitcoin. Taking on debt is a complex personal decision that should not be entered into without great care and financial consideration.

Caitlin Long calls on SIM swap victims to help resurrect Wyoming bill

“A SIM swap was part of the infamous Twitter hack in July, so this is no longer just an issue affecting the crypto industry," said Long. Caitlin Long, founder and CEO of Avanti Financial, is asking crypto users and others to testify in support of a piece of legislation which could help stop SIM swap attacks.  In a tweet posted today, Long requested that any of her 70,500 followers who had been the victim of a SIM swap testify for the Wyoming legislature on Dec.

Everyone's talking crypto for solving sub-Saharan Africa's payments problems

Stablecoins and continentwide regulations are key to breaking down barriers to Africa's economic growth. As global interest in stablecoins explodes, a number of key players are pushing especially hard for more adoption in Sub-Saharan Africa. On Thursday, the Center for Strategic and International Studies' Africa Program published new analysis advocating more options for crypto users in sub-Saharan Africa.

DeFi Yield Protocol (DYP): All in One Platform Yielding Benefits

[Featured Content] Yield farming is undoubtedly taking over the DeFi space since more crypto users have finally realized its merits.

Russian Prime Minister Pledges to ‘Civilize’ Crypto Market and Prevent Scams

Changes to the law will bring Russia's crypto users more protections against fraud, said Mikhail Mishustin.

Crypto users speak out on proposed change to FinCEN Travel Rule

“This proposal, if adopted, would prove to be an invasion of privacy." Since the US Federal Reserve and Financial Crimes Enforcement Network opened a proposed rule to acquire more information on smaller international transactions, many crypto users have labeled the measure as an invasion of privacy. On Oct.

Dutch central bank wants proof of withdrawal addresses from crypto users

The central bank of the Netherlands, De Nederlandsche Bank (DNB), announced that it has imposed new Anti Money Laundering rules that now require customers of all local crypto exchanges to “prove” The post Dutch central bank wants proof of withdrawal addresses from crypto users appeared first on AMBCrypto.

US Tax Office Warns Coinbase Users To Declare Crypto Holdings Before IRS Clampdown

The IRS may soon start clamping down on crypto users particularly those affiliated with Coinbase exchange who do not properly report their crypto holdings.

India welcomes UAE's digital asset exchange Bitex

India has noted an uptick in crypto users over the past year.

eToro Adds Insolvency Insurance Policy – Crypto Users Not Included

The free insurance scheme covers customers for up to £1 million if the firm should ever become insolvent.

DOJ’s Crypto Framework Is ‘a Complete Disaster’ for Digital Privacy Rights

The US Department of Justice's enforcement framework may pose a serious threat to the digital privacy rights of crypto users.

Hackers target few crypto users by exploiting SS7 protocols

In what is said to be a targeted attack at cryptocurrency users, hackers have exploited the Signaling System 7 (SS7) which is a set of protocols used to perform telephone calls and text messages, to o The post Hackers target few crypto users by exploiting SS7 protocols appeared first on AMBCrypto.

Almost 2000 Robinhood accounts hacked: Report

Hackers have compromised "almost 2,000" Robinhood Markets Inc trading accounts in the recent cyberattacks spree that have stolen funds from crypto users, according to anonymous sources who provided th The post Almost 2000 Robinhood accounts hacked: Report appeared first on AMBCrypto.

British fintech to expand banking services to Indian crypto customers

London-based banking company Cashaa will launch a crypto-friendly neo-bank in India The London-based online banking platform Cashaa is planning to launch a crypto-friendly neobank — or internet bank — in India.  Kuman Gaurav, the founder of Cashaa, told Cointelegraph that Cashaa India will allow Indian businesses and individuals to open a savings account with them and buy, store and save cryptocurrencies just like any other financial instrument. “For lending, we will be adding crypto assets class together with gold and real estate as collateral,” he said. Gaurav explained the need for a crypto-friendly bank in India, saying that most Indian banks are reluctant to provide banking services to the crypto users.

Stablecoins Will Bring Growth, But Beware Central Banks: Execs

Fiat-pegged stablecoins should draw in new crypto users and help enterprises better deploy capital, but central bank digital currencies present a threat.

Every Credit Card a Tribe, Every Crypto Coin a Scaling Debate

Lana Swartz's "New Money" is a book that will force crypto users to ask: What does using ETH or BTC or XLM or ATOM say about me?

Number of Crypto Users Shatters 100,000,000 Worldwide: Cambridge Study

The University of Cambridge estimates that the number of global crypto asset users has increased by a whopping 189% since 2018.

New Zeland's tax authority grills companies for info on crypto users

If it's a taxable event, authorities want to know.

Cambridge University’s Third Crypto Study Records 101 Million Cryptocurrency Users Worldwide

The University of Cambridge and the school’s Centre for Alternative Finance has published the third “Global Cryptocurrency Benchmarking Study.” The 71-page in-depth study examines the current growth of the crypto industry, mining, offchain activity, crypto asset user profiling, regulation, and security.