Apple has removed the world’s most popular bitcoin wallet from its App Store. Late Wednesday, the tech giant yanked the Blockchain app from the popular mobile app marketplace and did not provide a specific reason, says Nicolas Cary, the CEO of Blockchain. The app is currently used by about 120,000 people to send and receive […]
CoinSummit San Francisco, a two-day invitation-only event aiming to connect virtual currency entrepreneurs, angel and VC investors, hedge fund professionals and bitcoin enthusiasts, has revealed its preliminary agenda and speaker list.Taking place on 25th and 26th March at the Yerba Buena Center for Arts, CoinSummit San Francisco will follow Bitcoin London, the inaugural bitcoin event […]
What if you don’t report all of your Bitcoin gains on your US tax return? You must have at least considered it by now. How would the IRS know? I get this question from clients at least as often as I see it in print. It is a tempting proposition: last year, US taxpayers had […]
Alternative Currency Could Change Financial Landscape In celebration of the AICPA’s 125 anniversary last year, we produced a powerful retrospective called Evolution of a Profession. The six-minute video traced the accounting profession’s changes from its origins 8,000 years ago through the present day. Within that evolution were the notions of currency and exchange. Over time, […]
How do you tax bitcoins? Apparently, not even the IRS knows. Internet forums like Reddit and bitcointalk.org are exploding with questions about how users of the increasingly popular virtual currency should fill out their tax forms this year. “Some of us have sold some for fiat [money]. Some of us want to pay taxes on […]
The suits are coming Government regulation in the bitcoin space will give banks the confidence to start working with bitcoin businesses, says Allaire. But that’s not the only important change that needs to occur so that bitcoin can enter the mainstream: bitcoin needs Wall Street. The birth of bitcoin has been tied by some to […]
Manhattan U.S. Attorney Preet Bharara said: “As alleged, Robert Faiella and Charlie Shrem schemed to sell over $1 million in Bitcoins to criminals bent on trafficking narcotics on the dark web drug site, Silk Road. Truly innovative business models don’t need to resort to old-fashioned law-breaking, and when Bitcoins, like any traditional currency, are laundered […]
Bitcoin has generated a lot of buzz because of its ingenuous design, but how widespread its use will become has just as much to do with government policy as any of the virtual currency’s inherent qualities. Bitcoin prices, for instance, plunged in December following a decision by the Chinese central bank to ban financial institutions […]
Wells Fargo is hosting a public event to discuss bitcoin, a week after it held a private “summit” on the cryptocurrency in San Francisco. The event is titled ‘Virtual Currency: Viability, Compliance and Direction’ and will take place on 28th January in a conference room at Union Square Ventures, a noted venture capital firm, in […]
Canadian officials have been pretty quiet in the bitcoin debate, but the government’s stance became clearer on Thursday.Canada doesn’t consider bitcoin to be legal tender, a government official said, putting a question mark over the use of the increasingly popular virtual currency here.“Only Canadian bank notes and coins are recognized as legal tender in Canada. […]