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US Congressman Tom Emmer is pushing for safe harbor legislation to protect taxpayers with forked coins. A bill entitled “Safe Harbor for Taxpayers with Forked Assets Act of 2021” has been introduced to prohibit “penalties against taxpayers attempting to report certain gains or losses on ‘forked assets’ until the IRS issues sufficient guidance on how … Read more
Eight lawmakers have sent a letter to the IRS seeking answers to new questions stemming from the latest crypto tax guidance. They pointed out a number of major issues including unwarranted tax liabilities for crypto users who unwillingly receive forked or airdropped coins. Also read: Regulatory Roundup: Crypto ‘Inevitable’ in India, China Rankings, NY Streamlines … Read more
An established Japanese corporation has begun offering loans secured by cryptocurrency. The company says this is the first service in Japan where loans in Japanese yen can be obtained with cryptocurrency as collateral. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space New Loan Program Abic Corporation announced Friday the launch of its bitcoin loan … Read more
A class action lawsuit is being prepared by a group of lawyers in Japan over forked coins that cryptocurrency exchanges are not granting to their customers. Citing that these coins belong to the customers, the group seeks to change the business practices of crypto exchanges and obtain the forked coins for the plaintiffs. Also read: Yahoo! … Read more
Ever since the arrival of bitcoin cash, forked coins have been en vogue. While BCH has succeeded in gaining traction, not only on exchanges, but also in the real world, the stragglers have struggled. There is little evidence that the likes of bitcoin gold and bitcoin diamond are used for anything other than speculation. That … Read more
With less bitcoin holders bothering to claim forked coins, the public’s appetite for chain splits is clearly diminishing. Developers, though, seem determined to keep pushing out fresh forks to a diminishing band of recipients. One of the toughest challenges that forkers face is finding wallets and exchanges willing to distribute the newly birthed coins. Large … Read more
