Global #crypto industry

On August 8, the Internal Revenue Service (IRS) unveiled a revised draft of Form 1099-DA, aimed at streamlining the process for reporting digital asset transactions. The updated form, tentatively titled “Digital Asset Proceeds From Broker Transactions,” is set to come into effect for transactions starting in tax year 2025, with reports due by April 2026.

The anticipated meeting between Democratic Presidential nominee Kamala Harris and key figures from the cryptocurrency industry, originally scheduled for Monday, August 5, has been postponed.

In a landmark fundraising event, former President Donald Trump raised an impressive $25 million from key figures in the cryptocurrency industry. This high-profile event, held at a Bitcoin conference in Nashville, marks one of the largest single fundraising events for Trump’s campaign to date.

Elon Musk, the enigmatic billionaire and owner of X (formerly Twitter), has once again stirred the crypto world with a seemingly innocuous change.

The US Treasury Department has recently finalized a new set of tax rules for cryptocurrencies, aligning them more closely with existing tax reporting requirements for traditional financial instruments like stocks and bonds.

In a recent report, financial giant JP Morgan has outlined their expectations for Bitcoin (BTC) for the upcoming months of July and August, indicating a potentially turbulent period for the cryptocurrency.