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Virtual Currencies | Internal Revenue Service

The sale or other exchange of virtual currencies, or the use of virtual currencies to pay for goods or...

Date: 2017-12-19 22:34:56
Website: https://www.irs.gov

Uniform Regulation of Virtual Currency Businesses Act

Virtual currency can be simply defined as a form of electronic value, the value of which depends on the market. It is not backed by government (so that it lacks status as legal tender). The interest in virtual currency arises because it is allegedly safer from hacking, often cheaper and faster, and has...

Website: http://www.uniformlaws.org

"FINTRAC Advisory regarding Money Services Businesses ...

FINTRAC Advisory regarding Money Services Businesses dealing in virtual currency

OTTAWA, July 30, 2014 - On February 11, 2014, Economic Action Plan 2014 announced the Government's intention to introduce legislative changes and new regulations to strengthen Canada's Anti-Money Laundering and Anti-Terrorist Financing Regime. Among other things, these changes will address virtual currencies.

On June 19, 2014, the Economic Action Plan 2014 Act, No. 1, received Royal Assent. The Act contained changes to the Proceeds of Crime (Money...

Website: http://www.fintrac-canafe.gc.ca

Bitcoin and Money Laundering - World.tax

Decentralized and untraceable virtual currencies are attractive to those wishing to shift money across borders or to conduct illegal activities online anonymously. Bitcoin became a favourite means of payment on the Silk Road, a digital marketplace for illegitimate trade that operated exclusively on the "Tor" network. Given these concerns, regulatory agencies in charge of preventing money...

Website: https://www.world.tax

Virtual currency bitcoin meaning - Transfer bitcoin ke ...

Virtual currency bitcoin meaning

Japanese push to regulate exchanges and recognize bitcoins as. a definition for bitcoin and virtual currencies that.

(U) Bitcoin Virtual Currency: Intelligence Unique Features

The small number of Bitcoins will mean it will...

How can I create a bitcoin like virtual currency not based on.

Bitcoin Is Not Money, Charges Dropped...

Website: http://mops-welpen.info

Virtual Currencies: An Essay Example For Beginners

Contact

Virtual Currencies

A currency is known as the common mode of payment mode of payment that is used in a certain jurisdiction and facilitates that exchange of goods and services. The currency must be customarily accepted for use, be circulating and be legal. This is what many people will refer to as the legal tender or a real currency. The use of a currency has led to the creation of...

Website: http://www.deltadawnbook.com

Should I only report on my ITR the transactions in ...

Each exchange of one cryptocurrency for another cryptocurrency is technically a "sale", (as would an exchange of a cryptocurrency for US dollars), that does need to be reported.�

The IRS has made that clear in Notice 2014-21

Q-6: Does a taxpayer have gain or loss upon an exchange of virtual currency for other property?

A-6: Yes. If the fair market value of property received in exchange for virtual currency exceeds the taxpayer's adjusted basis of the virtual currency, the taxpayer has taxable gain. The taxpayer has a loss if the fair market value of...

Website: https://ttlc.intuit.com

NYSDFS: BitLicense Frequently Asked Questions

Subject to certain exceptions, anyone engaging in any of the following activities is required to obtain a BitLicense:

Virtual currency transmission

Storing, holding, or maintaining custody or control of virtual currency on behalf of others

Buying and selling virtual currency as a customer business

Performing exchange services as a customer business

Controlling, administering, or issuing...

Date: 2017-03-30 22:04:03
Website: http://www.dfs.ny.gov

Virtual currency ATMs and trading platforms must be ...

12 February 2015

Money-Services Businesses

Montréal - In Québec, businesses operating a virtual currency automated teller machine or a platform for trading virtual currency must obtain a licence issued by the Autorité des marchés financiers (the "AMF") pursuant to the Money-Services Businesses Act (the "Act").

The AMF today published amendments to the Policy Statement to the Money-Services...

Website: https://lautorite.qc.ca

PROCEEDS OF CRIME (SUPERVISORY BODIES) (VIRTUAL CURRENCY ...

Proceeds of Crime (Supervisory Bodies) (Virtual Currency Exchange Business) (Exemption) (Jersey) Order 2016

Made 23rd September 2016

Coming into force 26th September 2016

THE...

Date: 2018-01-11 19:57:53
Website: https://www.jerseylaw.je

Philippine Central Bank Approves Registration of Virtual ...

Local media has reported�that the Philippines' central bank, the Bangko Sentral ng Pilipinas (BSP), has successfully registered two companies seeking to operate bitcoin exchanges in the Philippines. The announcement comes after the BSP introduced legislation designed to recognize and regulate virtual currency exchanges earlier this year.

The Philippine virtual currency exchanges will operate under the Anti-Money Laundering...

Website: https://satowallet.com

Initial Coin Offerings, Digital Tokens and Virtual Currencies

What have Initial Coin Offerings, Digital Tokens and Virtual Currencies got to do with investments?

If you have been puzzling over terms like digital, virtual or cryptographic currencies, or digital tokens, or initial coin offerings and wondered what these terms mean, you may like to find out more here.

What are digital, virtual or...

Website: http://www.mas.gov.sg

Virtual currency exchanges in China told to shut down ...

Virtual currency exchanges in China told to shut down operations by regulators

Virtual currency exchanges in China have been told to close down their operations, according to a news publisher that reports on the industry.18 Sep 2017

Asia Pacific

CoinDesk reported that Chinese authorities have called on the trading platforms to announce that they are closing before the end of 15 September, and...

Website: https://www.out-law.com

Australia to regulate virtual currency exchanges like Bitcoin

Australia is set to regulate virtual currency exchanges such as Bitcoin and strengthen the powers of its financial intelligence agency AUSTRAC as it cracks down on money laundering and terrorism financing

Australia is set to regulate virtual currency exchanges such as Bitcoin and strengthen the powers of its financial intelligence agency AUSTRAC as it cracks down on money laundering and terrorism...

Website: https://phys.org

Virtual currency - Wikipedia

Definitions[ edit ]

In 2012, the European Central Bank defined virtual currency as "a type of unregulated, digital money, which is issued and usually controlled by its developers, and used and accepted among the members of a specific virtual community". [1] :13

In 2013, Financial Crimes Enforcement Network (FinCEN), a bureau of the US Treasury , in contrast to its regulations defining currency as...

Date: 2017-12-27 15:01:38
Website: https://en.wikipedia.org

Virtual currency - Wikipedia

Definitions[ edit ]

In 2013, Financial Crimes Enforcement Network (FinCEN), a bureau of the US Treasury , in contrast to its regulations defining currency as...

Date: 2017-12-20 01:25:46
Website: https://en.wikipedia.org

SEC.gov | Investor Bulletin: Initial Coin Offerings

To facilitate understanding of this new and complex area, here are some basic concepts that you should understand before investing in virtual coins or tokens:

What is a blockchain?

A blockchain is an electronic distributed ledger or list of entries - much like a stock ledger - that is maintained by various participants in a network of computers.� Blockchains use cryptography to process and...

Date: 2018-01-10 15:18:31
Website: https://www.sec.gov

Could Virtual Currencies be the Future of Payment Systems?

Digital Currency � o � Payment Processing

Transferring money to someone in another country can be a long, expensive and risky process.� The funds exchange hands multiple times before arriving at their destination, and with each exchange comes delays, more fees, and a higher risk that the funds will be misrouted or end up in the hands of the wrong person.� The U.S. government is aware of...

Website: https://www.digitalcurrencyperspectives.com

How Bitcoins Are Taxed - The Balance

By William Perez

Updated April 07, 2017

Whenever bitcoin is bought, sold, or traded, there are tax impacts. We'll discuss how bitcoins and other forms of virtual currency are taxed, and point out record keeping requirements and tax planning techniques that can be utilized. At the end you'll find resources for continuing your own research.

The big picture:

"The key thing going forward is...

Website: https://www.thebalance.com

FinCEN fines BTC-e $110 million for violating anti-money ...

One of the largest digital currency traders in the world has been assessed a $110 million dollar civil money penalty by the Financial Crimes Enforcement Network (FinCEN) and the U.S. Attorney's Office of the Northern District of California.

BTC-e, or Canton Business Corporation (BTC-e), was the target of the Treasury's first action against a foreign-located money services business for knowingly...

Website: https://www.cyberscoop.com

What Community Bankers Should Know About Virtual ...

The virtual currency landscape includes many participants, from the merchant that accepts the virtual currency, to the intermediary that exchanges the virtual currency on behalf of the merchant, to the exchange that actually converts the virtual currency to real currency, to the electronic wallet provider that holds the virtual currency on behalf of its owner. Accordingly, opportunities abound...

Website: https://www.communitybankingconnections.org

Gold backed virtual-currencies in a post de-monetization ...

Home / Columns / Gold backed virtual-currencies in a post de-monetization�India

Gold backed virtual-currencies in a post de-monetization�India

By Express Computer on November 28, 2016 @@srikrp

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By Rohas Nagpal, Primechain Technologies

Our ancestors started off with the barter system - something like "I will give you 2 buffaloes in return for 5 shiny new super-sharp axes". Soon they...

Website: http://computer.expressbpd.com

You can now buy bitcoins on eBay | The Daily Dot

These days, there are plenty of ways to acquire virtual currency. You can buy it on an exchange . You can withdraw it from a Bitcoin ATM . You can mine it yourself. You can steal it in a massive, complex, multimillion-dollar heist.

Now there's a new addition to that list: You can buy it on eBay .

Without going out of its way to court much publicity, the online auction Goliath has quietly added a...

Website: https://www.dailydot.com

New FinCEN Guidance Changes Regulatory Landscape for ...

New FinCEN Guidance Changes Regulatory Landscape for Virtual Currencies and Some Prepaid Programs

03.22.2013

Updates

Overview

To address a perceived gap in regulatory treatment of increasingly popular virtual currencies, including Bitcoin, the U.S. Department of the Treasury Financial Crimes Enforcement Network (FinCEN) released new guidance on March 18, 2013. The guidance represents the first...

Website: https://www.perkinscoie.com

IRS: Bitcoin Is Property [FULL RELEASE] - Business Insider

The IRS has ruled Bitcoin should be treated as property, not as currency, for tax purposes.

According to Bitcoin tax expert Tyson Cross, this will create a significant burden on Bitcoin users, as every transaction they ever make using the digital currency will have to be reported in some way.

That would not be the case if it had been ruled a digital currency.

"Users will have to track...

Website: http://www.businessinsider.com

Gold backed virtual-currencies in a post de-monetization India

06 December 2016��|��6311 views��|��1

Our ancestors started off with the barter system - something like "I will give you 2 buffaloes in return for 5 shiny new super-sharp axes". Soon they realized that the barter system had too many limitations - everyone didn't want buffaloes, buffaloes were neither divisible (not...

Website: https://www.finextra.com

BSP approves registration of 2 bitcoin exchange operators ...

The Bangko Sentral ng Pilipinas has approved the registration of two companies to engage in the operation of bitcoin exchanges as part of efforts to regulate the fast growing but potentially risky virtual currency industry.

BSP Governor Nestor Espenilla Jr. said during the FinTech Thought Leadership Roundtable Series presented by FINTQ, the central bank has given the two companies the green light...

Date: 2017-12-30 08:41:55
Website: http://www.philstar.com

TAKING YOUR DIGITAL CURRENCY BUSINESS TO THE US - diacle

If you are in cryptocurrency and want to service the US market then a registration with The Financial Crimes Enforcement Network (FinCEN) as a Money Service Business (MSB) is usually a pre-requisite.

By registering as a MSB at a federal level, your next question should be whether you are required to register at a state level too. Make sure that you are you clear in which states you will be...

Website: https://www.diacle.com

Make P2P and B2B payment with Perfect Money

7money.co - E-currency exchange service is clear and intuitive design of the site will help to exchange e-currency quickly and without difficulties support site will respond quickly and efficiently in English. Buy / Sell PM, Privat24 UAH, PUMB UAH, Bitcoin. 7money. - . ...

Website: perfectmoney.is

Make P2P and B2B payment with Perfect Money

Website: https://www.perfectmoney.is

Made a Bitcoin fortune? Pay the tax now! - Rediff.com Business

Based on the holding period, the profit you make are liable to short-term or long-term capital gains tax, experts tell Tinesh Bhasin.

While virtual currencies like Bitcoin are gaining popularity, there is still lack of clarity on how they should be taxed.

Many buyers of cryptocurrencies, therefore, don't pay tax on the gains they make on selling them.

Software developer Pawan Bharti recently sold...

Website: http://www.rediff.com

Bitcoin and other virtual currencies: What you need to ...

Legal risk

Risk of participating in criminal, terrorist or fraudulent activities or money laundering

If you want to speculate on the price of a cryptocurrency or transact business using a cryptocurrency

What are cryptocurrencies?

Cryptocurrency or virtual currency,�is similar to money but is not legal tender. In Canada, the only currency that is legal tender is the Canadian dollar, although...

Website: https://lautorite.qc.ca

Bitcoin exchange- Latest News on Bitcoin exchange | Read ...

Bitcoin hits $15,000 for first time, jumps over 50% in just one week

The rally came just a day after the virtual currency, which has been used to buy everything from an ice cream to a pint of beer, hit the $12,000 mark for the first time, while it has soared more than 50 percent in value in just one week.

Dec 07, 2017, 16:13 PM IST

The head of collapsed Bitcoin exchange MtGox was facing fresh...

Date: 2017-12-20 04:27:27
Website: http://zeenews.india.com

Bitcoin taxation in the developed countries - No More Tax

In the recent years, there has been a steady increase of the use of virtual currencies (e.g., Ethereum, Peercoin, Dogecoin, Litecoin, and Bitcoin). Nowadays, they are widely used not only as payment methods, but also as investment instruments. Virtual currencies created a legal vacuum that was gradually filled with regulations.

In this article, we will focus on the taxation of Bitcoin (the most...

Website: http://www.nomoretax.eu

What Is Virtual Currency? (And Why You Should Care ...

What Is Virtual Currency? (And Why You Should Care)

Post by Beth Buczynski o Last Updated: January 18, 2018

Affiliate Policy : Posts may contain links to outside vendors that pay us a commission when you purchase from them, at no additional cost to you. Thank you for supporting our site!

For centuries, people have been restricted by society's definition of money and value. What if there was a way...

Website: insteading.com

What Is Virtual Currency? (And Why You Should ... - Insteading

What Is Virtual Currency? (And Why You Should Care)

Post by Beth Buczynski o Last Updated: May 18, 2011

Affiliate Policy : Posts may contain links to outside vendors that pay us a commission when you purchase from them, at no additional cost to you. Thank you for supporting our site!

For centuries, people have been restricted by society's definition of money and value. What if there was a way out...

Website: insteading.com

South Korea is trying to cool its red-hot bitcoin market ...

South Korea is clamping down on its bitcoin boom.

The country's government said Thursday it was putting in place measures to cool speculation in the red-hot cryptocurrency, which has surged by more than 1,300% in 2017.

The measures include a ban on opening anonymous virtual currency accounts and new laws giving authorities the power to shut down digital currency exchanges.

Related: What is...

Website: http://money.cnn.com

Code of conduct - ADCA

Australian Digital Currency Industry Code of Conduct

ADCA developed the Australian Digital Currency Industry Code of Conduct as a tool to help Australian consumers identify digital currency businesses that have best-practice standards in place.

The Digital Currency Industry Code of Conduct is a self-regulatory scheme and was developed in response to a recommendation of the Senate Enquiry into...

Website: http://adca.asn.au

Top 10 Ripple Exchanges – Best Exchanges to Buy and Sell ...

Top 10 Ripple Exchanges

Ripple is one of the fairly new crypto currencies that may have caught your attention, and as with any digital currency it is often the case that the sooner you do start to make use of them the more likely you are to see their value increase over time, if you did get in at the start!

However, as is always the case with using any of the newer crypto...

Website: https://www.top10money.com

10 things you should know about Bitcoin and digital ...

10 things you should know about Bitcoin and digital currencies

Bitcoin and other digital currencies have emerged as potential disruptors to the financial system, but fear, theft, and illegal activity still hang over them. Here's what you need to know.

By Lyndsey Gilpin | May 21, 2014, 4:00 AM PST

Google Plus

Bitcoin has injected itself into a lot of conversations about the future of technology,...

Website: https://www.techrepublic.com

Press Release - January 17, 2017: DFS Grants Virtual ...

DFS GRANTS VIRTUAL CURRENCY LICENSE TO COINBASE, INC.

Five Virtual Currency Entities Have Received Approval by DFS to Operate in New York

Financial Services Superintendent Maria T. Vullo today announced that the New York State Department of Financial Services (DFS) has approved the application of Coinbase, Inc., a wholly owned subsidiary of Coinbase Global, Inc., for a virtual currency and a...

Date: 2018-01-04 15:43:00
Website: http://www.dfs.ny.gov

Russian national and bitcoin exchange indicted in multi ...

Russian national and bitcoin exchange indicted in multi-billion dollar money laundering scheme

SAN FRANCISCO - A Russian national and a bitcoin exchange he allegedly ran have been indicted by a Bay Area federal grand jury on a battery of charges, including money laundering and operating an unlicensed money service business, following a multi-agency probe that included U.S. Immigration and Customs...

Date: 2018-01-11 21:33:19
Website: https://www.ice.gov

Russian National And Bitcoin Exchange Charged In 21-Count ...

Russian National And Bitcoin Exchange Charged In 21-Count Indictment For Operating Alleged International Money Laundering Scheme And Allegedly Laundering Funds From Hack Of Mt. Gox

Defendant Alexander Vinnik Was Arrested in Greece to Face Charges in the United States; Bitcoin Exchange Alleged to Have Received Deposits Valued at Over $4 Billion

SAN FRANCISCO - A grand jury in the Northern District...

Date: 2017-12-20 02:31:23
Website: https://www.justice.gov

Tax Tips for Bitcoin and Virtual Currency - TurboTax Tax ...

Virtual currency like Bitcoin has shifted into the public eye in recent years. Some employees are paid with Bitcoin, more than a few retailers accept Bitcoin as payment, and others hold the e-currency as a capital asset. Recently, the Internal Revenue Service (IRS) clarified the tax treatment of Bitcoin and Bitcoin transactions.

Convertible virtual currency is subject to tax by the IRS

Bitcoin is...

Website: https://turbotax.intuit.com

SEC Investor Alert: Bitcoin and Other Virtual Currency ...

INVESTOR ALERT: BITCOIN AND OTHER VIRTUAL CURRENCY-RELATED INVESTMENTS

May 7, 2014

The SEC's Office of Investor Education and Advocacy is issuing this Investor Alert to make investors aware about the potential risks of investments involving Bitcoin and other forms of virtual currency.

The rise of Bitcoin and other virtual and digital currencies creates new concerns for investors. A new product,...

Date: 2018-01-26 22:31:13
Website: https://www.sec.gov

Bitcoin India: Latest Bitcoin India News, Videos

On September 13, 2017 11:59 (IST)

The RBI has been repeatedly cautioning everyone about the usage of cryptocurrencies, flagging a slew of concerns.

Government Seeks Public Views On Future Of Bitcoin

On May 22, 2017 17:45 (IST)

Widening the scope of the debate on what is also referred to as Digital/Crypto Currencies, the government has invited suggestions on its discussion platform MyGov, launched...

Website: http://profit.ndtv.com

Is Bitcoin legal - Zebpay | India's Leading Bitcoin Exchange

Nishith Desai Associates is India's leading international law firm. They have published above white paper which concludes that bitcoin is legal in India.

Download

The CIS is India's leading Internet organization. CIS helped Internet remain neutral in India in the 2015 net neutrality fight. They have published a research post on their website which also states that bitcoin is not illegal under any...

Website: zebpay.com

Alternet Pursues New York BitLicense, Global Digital ...

The company says it pursuing the New York State BitLicense that will facilitate a global exchange roll out strategy.

In July of 2014, the New York Department of Financial Services revealed its regulatory framework, stating that businesses that receive, transmit, store, exchange, issue or convert virtual currency for customers will need to be licensed, which has been dubbed the BitLicense. NYDFS...

Website: allcoinsnews.com

How to Buy Bitcoins (with Pictures) - wikiHow

Six Parts: Understanding Bitcoins Learning The Advantages and Disadvantages of Using Bitcoins Setting Up Bitcoin Storage Exchanging Bitcoins Using a Seller Using Bitcoin ATMs Community Q&A

Bitcoin is an online alternative currency system, which acts as a form of digital money. Bitcoin is used both as an investment, and as a method of payment for goods and services, and is touted as a means to do...

Website: https://www.wikihow.com

Alert Bitcoin investors! RBI issues another warning, says ...

Alert Bitcoin investors! RBI issues another warning, says cryptocurrencies have some risks

� BusinessToday.in ��New Delhi�� Last Updated:�December 8, 2017 �|�12:13 IST

Bitcoin breached $12000 mark on Wednesday for the first time ever. The virtual currency has soared more than 1,000 percent since the start of the year. Last Wednesday, it was trading at $9,500. Nothing...

Website: http://www.businesstoday.in

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Virtual Currencies | Internal Revenue Service

Uniform Regulation of Virtual Currency Businesses Act

"FINTRAC Advisory regarding Money Services Businesses ...

Bitcoin and Money Laundering - World.tax

Virtual currency bitcoin meaning - Transfer bitcoin ke ...

Virtual Currencies: An Essay Example For Beginners

Should I only report on my ITR the transactions in ...

NYSDFS: BitLicense Frequently Asked Questions

Virtual currency ATMs and trading platforms must be ...

PROCEEDS OF CRIME (SUPERVISORY BODIES) (VIRTUAL CURRENCY ...

Philippine Central Bank Approves Registration of Virtual ...

Initial Coin Offerings, Digital Tokens and Virtual Currencies

Virtual currency exchanges in China told to shut down ...

Australia to regulate virtual currency exchanges like Bitcoin

Virtual currency - Wikipedia

Virtual currency - Wikipedia

SEC.gov | Investor Bulletin: Initial Coin Offerings

Could Virtual Currencies be the Future of Payment Systems?

How Bitcoins Are Taxed - The Balance

FinCEN fines BTC-e $110 million for violating anti-money ...

What Community Bankers Should Know About Virtual ...

Gold backed virtual-currencies in a post de-monetization ...

You can now buy bitcoins on eBay | The Daily Dot

New FinCEN Guidance Changes Regulatory Landscape for ...

IRS: Bitcoin Is Property [FULL RELEASE] - Business Insider

Gold backed virtual-currencies in a post de-monetization India

BSP approves registration of 2 bitcoin exchange operators ...

TAKING YOUR DIGITAL CURRENCY BUSINESS TO THE US - diacle

Make P2P and B2B payment with Perfect Money

Make P2P and B2B payment with Perfect Money

Made a Bitcoin fortune? Pay the tax now! - Rediff.com Business

Bitcoin and other virtual currencies: What you need to ...

Bitcoin exchange- Latest News on Bitcoin exchange | Read ...

Bitcoin taxation in the developed countries - No More Tax

What Is Virtual Currency? (And Why You Should Care ...

What Is Virtual Currency? (And Why You Should ... - Insteading

South Korea is trying to cool its red-hot bitcoin market ...

Code of conduct - ADCA

Top 10 Ripple Exchanges – Best Exchanges to Buy and Sell ...

10 things you should know about Bitcoin and digital ...

Press Release - January 17, 2017: DFS Grants Virtual ...

Russian national and bitcoin exchange indicted in multi ...

Russian National And Bitcoin Exchange Charged In 21-Count ...

Tax Tips for Bitcoin and Virtual Currency - TurboTax Tax ...

SEC Investor Alert: Bitcoin and Other Virtual Currency ...

Bitcoin India: Latest Bitcoin India News, Videos

Is Bitcoin legal - Zebpay | India's Leading Bitcoin Exchange

Alternet Pursues New York BitLicense, Global Digital ...

How to Buy Bitcoins (with Pictures) - wikiHow

Alert Bitcoin investors! RBI issues another warning, says ...

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