The news that payments company PayPal will support cryptocurrencies has given the industry a major boost — but there are tax implications that are little understood by crypto noobs.Read more
First announced in September, Monero developers today went live with a network update featuring a new version of its node software, codenamed ‘Oxygen Orion.Read more
Antivirus software pioneer John McAfee, the founder of McAfee Associates — the company that released the first commercial antivirus software, McAfee VirusScan, in the late 1980s, contributing to the birth of multibillion-dollar industry — was indicted on five counts of tax evasion and five counts ofRead more
Once viewed as one of the crypto industry’s top privacy-focused assets, Dash (DASH) no longer operates under that classification, according to the Dash Core Group, the body overseeing the asset and its development.Read more
Recently, the United States Internal Revenue Service caused a stir in the crypto community when it put a bounty on the head of anonymity-focused crypto-asset Monero (XMR), offering $625,000 to anyone who could effectively track the purportedly untraceable asset.Read more
In Sweden, cash in circulation represents only 1% of the country’s gross domestic product, and some experts predict the nation will go “totally cashless” by 2023. In China’s largest cities, over 90% of people use WeChat Pay and Alipay as their primary payment method, with cash a distant second.Read more
On Wednesday, the IRS awarded two $625,000 contracts looking for tracing tools for privacy token Monero and Layer 2 protocols. The winners were blockchain analytics firms Chainalysis and Integra FEC.Read more
Every Friday, Law Decoded delivers analysis on the week’s critical stories in the realms of policy, regulation and law.
One of the most persistent myths about Bitcoin is its supposed anonymity. More properly termed pseudonymity, BTC wallets are permanently tied to their public keys.
The United States Internal Revenue Services (IRS) has offered a bounty of up to $625,000 to anyone who can break purportedly untraceable privacy coins like Monero (XMR) as well as trace transactions on Bitcoin’s (BTC) Lightning Network.Read more
On Sept. 8, the IRS’s criminal investigation department signed a $249,900 contract with a blockchain analytics firm to expand its crypto tracing tools.
The contract provides limited information, but it follows an overarching trend of the IRS stepping up its game when it comes to crypto.