Related News 1: IRS Releases Digital Asset Reporting Rules, Declares Front-End Service Providers as Brokers Author: Ana Paula Pereira Summary: Recently, the U.S. Internal Revenue Service (IRS) released final regulations on broker reporting for the sale and exchange of digital assets, marking an intensification of the U.S. tax oversight...
1. Overview of Colorado Located in the western United States, Colorado spans the eastern Rocky Mountains. Covering approximately 268,000 square kilometers with a population of about 5.77 million (2020), Colorado ranks 8th in size and 21st in population among U.S. states. Its capital, Denver, is also its largest city....
In recent years, cryptocurrencies have become a major player in the global financial ecosystem. As crypto businesses continue to expand, understanding the complexities of tax structuring is crucial. Navigating the tax landscape in the crypto space can be challenging due to constantly evolving regulations, differing national laws, and the...
In recent years, the popularity of cryptocurrencies has surged, attracting a wide range of investors—from institutional giants to individual traders. As more people enter the digital asset market, managing a diverse portfolio of cryptocurrencies has become crucial. Crypto portfolio management is the strategic process of balancing assets within a...
As the Web3 movement continues to reshape industries, financial reporting is undergoing a transformation driven by decentralization, blockchain technology, and smart contracts. Web3 financial reporting refers to the use of decentralized technologies to improve transparency, efficiency, and trust in the way financial information is recorded, reported, and audited. This...
In the digital age, organizations are constantly creating and managing vast amounts of media files—images, videos, audio, documents, and more. Effectively organizing, storing, and retrieving these assets is critical for businesses to maintain efficiency and stay competitive. This is where Digital Asset Management (DAM) comes into play. What is...
This paper provides an in-depth analysis of the digital asset framework released by the Qatar Financial Centre (QFC), examining its significance in Qatar’s financial sector strategy. By closely interpreting key legal documents within the framework, including the Investment Token Rules, the QFC Digital Asset User Guide, the Digital Asset...
South Korea’s National Tax Service (NTS) recently announced plans to introduce a TRAC system, which will be developed by consulting firmGTlC. The system, called the “Virtual Asset Integrated Management System”, is designed to analyze and manage transaction data related todigital currencies.The National Tax Service has selected GTlC as the...
On November 14, local time in the U.S., 18 states, led by Kentucky, filed a lawsuit against the U.S. Securities and Exchange Commission (SEC) and its five commissioners in the Kentucky District Court. They accused the SEC of excessively regulating cryptocurrency and unfairly persecuting the crypto industry, in violation...
3. Two Landmark U.S. Crypto Lawsuits The Ripple case and the Terraform case are two landmark cases in the U.S. crypto industry that cannot be overlooked. In both cases, the courts defined the legal attributes of crypto assets from different perspectives, sparking a strong reaction within the crypto industry....
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