The IRS Moves to Crack Down on Cryptocurrency Tax Evaders ...

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Bitcoin Is Going Mainstream Reddit, Virgin Galactic, and now accept Bitcoin. So do dating site OKCupid and travel site Game giant Zynga is now in the testing phase. Two big Las Vegas hotels accept Bitcoin. Congressman Steve Stockman (R-Texas) accepts Bitcoin for 2014 campaign contributions. As does a law firm in Australia. Financial Analyst, Yves Lamoureux: $25K the End Target. Yves Lamoureux, president and chief behavioral strategist of macroeconomic research firm Lamoureux & Co., wrote a piece that was featured in Yahoo Finance specifically about Bitcoin, not mentioning it in passing as part of a grander narrative. Lamoureux does throw the word “bubble” into his statements, as either a hedge or a ... Yves here. Richard Smith, who was of enormous help on ECONNED and wrote many infomative posts on technical finance topics (such as This is Basel III??), developed a deep and abiding interest in track… Read More. SHARE. Facebook. Twitter. tweet; Previous article Revealed: Nearly 400,000 British companies evade anti-money laundering checks. Next article Mastercard partners Octet Europe on ... Yves Smith Post author September 29, 2020 at 6:58 pm No, the IRS is treating crypto exactly the same as dealing in foreign currencies. It’s a financial asset, as all of its backers tout, unlike personal property (buying jewelry or furniture and selling it later at a profit, which is pretty rare since you are buying retail and selling wholesale). Yves here. I've heretofore avoided the topic of Bitcoin, since I recall the brief fad of the Second Life currency, which then flamed out impressively. And Bitcoin already has had the US Treasury clear its throat and say if market participants try exchanging Bitcoin for dollars, it takes a dim view of that. Recall that the IRS threatened to tax frequent flier miles, but later dropped that idea.

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