How Trump Uses ‘Acting’ Directors To Give Himself More Power, Less Scrutiny

Donald Trump famously prioritizes loyalty, and he made his name as a reality television star who relished his power to fire people. As president, he has made a series of personnel moves that underscore those values: At key federal agencies that were originally designed to be insulated from political influence, he has refused to appoint […]
Source: bitcoinwarrior
How Trump Uses ‘Acting’ Directors To Give Himself More Power, Less Scrutiny

Libra Just Made It Easier For Exchanges To Remain Tax Compliant

As Bitcoin breaches fresh all-time highs, compliance with the tax authorities becomes a confusing, yet key, priority for anyone booking profits. 


The Tax Man Cometh

With Bitcoin having broken the $10,000-mark yesterday and currently sitting just shy of that level as of the start of play on Thursday, many holders will be considering cashing out some of their portfolios and converting it to fiat so as to book profits on their longer-term coins.

Sure, the longer term hodlers will denounce the necessity to cash out but in reality, bills can’t be paid in crypto just yet (well, for the most part) and there is no shame in taking a few percentage points (or more) off the top of any holdings to mitigate risk a little bit.

Indeed, as we learned last week, even Charlie Shrem holds just one-third of his net worth in cryptocurrency.

One of the major concerns when converting crypto to fiat, of course, is tax liability. For most people in most parts of the world, there exists considerable confusion surrounding what’s owed and to who and at what levels.

And interestingly, this confusion is not just limited to individual Bitcoin holders.

Balancing the Scales of Tax Compliance

Balancing the Scales of Tax Compliance

Crypto businesses, and, in particular, exchanges and market makers, need to remain compliant arguably more so than individuals and maintaining said compliance can be a complicated task.

Well, as per the latest news, cryptocurrency accounting firm Libra just came up with a solution for these latter entity types.

The solution is a platform designed to automate and optimize reporting and compliance as well as control the central processes that underpin said compliance for the exchanges and market makers mentioned above.

It’s called Libra Crypto Office and, as per the company’s website:

(it’s) the industry’s first, institutional-grade solution purpose-built for the technical nature of blockchains and cryptocurrencies.

Here’s what Philippe Bekhazi, CEO of XBTO (a crypto trading, mining and investment group) had to say about the product:

Libra Crypto Office eliminates manual and inefficient back and middle office processes. The crypto markets operate 24/7/365, which means we must be able to produce accurate financial reports automatically, and in real time. Libra’s software will meet the needs of XBTO and our investors as we grow our business.

This is likely just one of many of these types of products and services that are going to pop up over the coming few years but it highlights a growing trend towards the necessity for framework support in this space.

What do you think? Will you be booking any profits and converting to fiat on the back of the latest run? Let us know in the comments section below!


Images courtesy of Flickr/401(K) 2012, Shutterstock

The post Libra Just Made It Easier For Exchanges To Remain Tax Compliant appeared first on Bitcoinist.com.


Source: bitcoinist
Libra Just Made It Easier For Exchanges To Remain Tax Compliant

Bitcoin is already dwarfing some of the largest financial market bubbles of all time

If bitcoin is indeed a cryptocurrency bubble, it’s already much larger than the Nasdaq in the late 1990s, the Dow in the roaring 1920s, and silver in the late 1970s. Birinyi Associates studied bitcoin versus 10 other bubbles, and found it came out as one of the largest. Lazlo Birinyi says he believes bitcoin …
Source: bitnewz
Bitcoin is already dwarfing some of the largest financial market bubbles of all time

Telex AI, A Crypto-Chatbot for Beginners and Experts Alike

<p>The backstage of the Internet is filled with tech-savvy people of all age-groups. The same trend continues with high-end computing […]</p>
<p>The post <a target=’_blank’ rel=”nofollow” href=”http://www.livebitcoinnews.com/telex-ai-crypto-chatbot-beginners-experts-alike/”>Telex AI, A Crypto-Chatbot for Beginners and Experts Alike</a> appeared first on <a target=’_blank’ rel=”nofollow” href=”http://www.livebitcoinnews.com”>Bitcoin Network, News, Charts, Guides &amp; Analysis</a>.</p>
Source: bitnewz
Telex AI, A Crypto-Chatbot for Beginners and Experts Alike

Token Report and Blockchain News Merge to Increase ICO Data Coverage

Largest Online Database for Verified ICOs Joins Forces with Leading Blockchain Publication to Strengthen Information Pool BOSTON — November 30, 2017 — Token Report (www.tokenreport.com), the world’s largest database of verified information on ICOs, announced today its merger with Blockchain News (http://www.the-blockchain.com/), the industry publication on blockchain and cryptocurrency news. Although combined, each business will […]
Source: bitcoinwarrior
Token Report and Blockchain News Merge to Increase ICO Data Coverage

Bitcoin ABC Developers Unveil Mid-Term Roadmap

<img width=”1000″ height=”667″ src=”https://themerkle.com/wp-content/uploads/shutterstock_609913787.jpg” class=”attachment-full size-full wp-post-image” alt=”TheMerkle Bitcoin ABC Roadmap” style=”float:left; margin:0 15px 15px 0;” srcset=”https://themerkle.com/wp-content/uploads/shutterstock_609913787.jpg 1000w, https://themerkle.com/wp-content/uploads/shutterstock_609913787-300×200.jpg 300w” sizes=”(max-width: 1000px) 100vw, 1000px” />Bitcoin ABC has quickly become the go-to client for Bitcoin Cash users. It is a very versatile project, and its developers recently unveiled their mid-term development plans. Things are looking pretty good for users of this client, as a few big changes are on the horizon. Advancing Bitcoin Cash will be a big challenge, but the roadmap seems to check a lot of the right boxes. Whether or not all these updates will actually be implemented within 12 months remains to be seen. Big Changes are Coming to Bitcoin ABC One thing about Bitcoin ABC that is nothing but commendable is how its
Source: bitnewz
Bitcoin ABC Developers Unveil Mid-Term Roadmap

‘A Vehicle to Perpetrate Fraud’: Goldman CEO Blankfein Sours on Bitcoin

<p> […]</p>
<p>The post <a target=’_blank’ rel=”nofollow” href=”https://www.cryptocoinsnews.com/a-vehicle-to-perpetrate-fraud-goldman-sachs-ceo-blankfein-sours-on-bitcoin/”>‘A Vehicle to Perpetrate Fraud’: Goldman CEO Blankfein Sours on Bitcoin</a> appeared first on <a target=’_blank’ rel=”nofollow” href=”https://www.cryptocoinsnews.com”>CryptoCoinsNews</a>.</p>
Source: bitnewz
‘A Vehicle to Perpetrate Fraud’: Goldman CEO Blankfein Sours on Bitcoin

Stratis Launches Public Test of Native ICO Platform

<p>It is evident there will be a booming ICO industry in the future. The big question is whether or not […]</p>
<p>The post <a target=’_blank’ rel=”nofollow” href=”http://www.livebitcoinnews.com/stratis-launches-public-test-native-ico-platform/”>Stratis Launches Public Test of Native ICO Platform</a> appeared first on <a target=’_blank’ rel=”nofollow” href=”http://www.livebitcoinnews.com”>Bitcoin Network, News, Charts, Guides &amp; Analysis</a>.</p>
Source: bitnewz
Stratis Launches Public Test of Native ICO Platform