Category: Cryptocurrency

One of the biggest uncertainties facing cryptocurrencies is their legal status and the prospect of future financial regulation. With the Internal Revenue Service (IRS) providing minimal tax guidance, cryptocurrency users and investors have been largely operating in a gray area for the past several years. One of the biggest questions to face cryptocurrency investors was […]

Central bankers aren’t the most aware people on the face of the planet. They continue to drive country after country into recession, then feign ignorance, as if inflation weren’t the product of their monetary policies. So when a central banker comments on matters of money and currency, you have to take everything with a grain […]

Following on the release of new cryptocurrency tax guidance for the first time in five years, the Internal Revenue Service (IRS) is starting to get serious about collecting taxes on gains made from Bitcoin and other cryptocurrencies. While the agency is trying to simplify the Form 1040 that most people file every year, it has […]

While Bitcoin has gained tremendously in popularity over the past decade, regulatory issues surrounding Bitcoin have yet to catch up. Among the most important of those to most Bitcoin investors were tax issues, with the Internal Revenue Service (IRS) most recently giving tax guidance on Bitcoin in 2014. Aside from being told to treat Bitcoin […]

One of the reasons Bitcoin has grown so much in popularity is because it allows people to engage in financial transactions without having to go through financial intermediaries. Each man can be his own bank, storing money, transacting with others, and even engaging in transactions across international borders. That has made Bitcoin a target for […]

The Bank of Canada is the latest central bank to try to get in on the cryptocurrency movement. The central bank has decided that it, too, will look at issuing its own digital national currency. But its move isn’t to try to provide a more useful or better currency to consumers, it’s to track their […]

Bitcoin has often seemed to be immune to government efforts to keep it from succeeding. It was once derided as a currency only used by online cybercriminals, or by drug users and dealers looking to conceal their activities from authorities. Government officials even tried to link Bitcoin to international terrorism in an attempt to shut […]

It’s no secret that central bankers don’t like competition. Governments of any type don’t, that’s why their governments. They enjoy their monopoly and seek to squelch anything that might threaten it. That’s why cryptocurrencies have come in for such strong opposition from central bankers, as they directly threaten the monopoly of monetary control that central […]

Facebook’s Libra cryptocurrency project is supposed to be a stablecoin of sorts. But rather than tying itself to a single currency like many current stablecoins, Libra is supposed to invest in a basket of currencies. It’s an interesting concept that’s been floated as a possible backing for many government-issued currencies, but no one really knew […]

In a big blow to Facebook’s Libra cryptocurrency project, PayPal announced earlier this month that it would be leaving the project. When Facebook had first announced Libra, it also announced that numerous established financial and payments firms had also joined the project, including PayPal, Visa, and others. Once PayPal left, the floodgates opened, as Visa, […]