Report: Blockchain Patents ‘Skyrocket’ in 2020, Alibaba Owns the Most Crypto Patents

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A study from the team at Kisspatent shows that Alibaba Group is the largest blockchain patent holder in 2020 capturing 10x the number of patents held by IBM. The report notes that blockchain patents “are skyrocketing” this year and so far in 2020, there’s been more distributed ledger technology and cryptocurrency patents published than all...

Crypto Tax Planning: Strategies to Reduce Your Cryptocurrency Tax Bill | CoinTracker

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Shehan Chandrasekera, CPA Aug 17, 2020 • 6 MIN READ Last Updated: August 24, 2020 The savvy cryptocurrency user can use the tax code to their advantage and significantly reduce their cryptocurrency tax bill, and in some cases, even reduce other non-crypto taxes as well. Since bitcoin and other cryptocurrencies are taxed as property (IRS...

The IRS is Sending Another Round of Crypto Tax Warning Letters | CoinTracker

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Shehan Chandrasekera, CPA, Chandan Lodha Aug 25, 2020 • 2 MIN READ IRS Letter 6173 The 6173 letter is the most serious amongst the three. It requires the taxpayer’s response by the date mentioned in the letter. If the taxpayer does not respond, their tax account will be examined by the IRS. Taxpayers can respond...

Can You Write Off Crypto Scams? | CoinTracker

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Shehan Chandrasekera, CPA Aug 07, 2020 • 3 MIN READ Unfortunately, scams are far too common in the cryptocurrency space. Last week, hackers broke into Twitter’s systems and lured innocent people into sending bitcoin into the scammer’s address. As CNBC reports, scammers received 400 payments totaling $121,000. It’s fair to ask whether victims of the...

US State Bank Regulators Agree to Single Set of Rules for Fintech, Crypto Firm Licensing – CoinDesk

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Bank regulators in 49 U.S. states, Washington, D.C. and Puerto Rico plan to make compliance for cryptocurrency companies simpler by consolidating supervisory exams. This content was originally published here.

BancKED Aims to Expand Financial Inclusion through Progressive Crypto Wallet White Label Program for Business Clients

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BancKED Crypto Wallet LONDON (PRWEB) September 15, 2020 Customization will define the best mobile wallets in the crypto marketplace going forward. And those who best use the power of the blockchain to develop those customer-centric tools will lead the pack. At least, that is what the founders of a new financial serveries firm, KBL Holdings,...

Kraken Becomes First Crypto Exchange to Become a US Bank – CoinDesk

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On Wednesday, the Wyoming Banking Board voted to approve the San Francisco-based crypto exchange’s application for a special purpose depository institution (SPDI) charter. Kraken is now the first SPDI bank in Wyoming. According to the Wyoming Division of Banking’s general counsel, Chris Land, Kraken will also be the first newly chartered (de novo) bank in...

Why You Should File Your Crypto Taxes | CoinTracker

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Shehan Chandrasekera, CPA Sep 11, 2020 • 5 MIN READ Filing taxes on your cryptocurrency gains is not an option: it is a requirement under the IRS tax code. Whether you like it or not, below are several reasons why you should start reporting cryptocurrency on your tax return. New Crypto Question on Form 1040...

Apple Gives Coinmama Authorisation For ApplePay Service Integration | Global Crypto

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An Israel-based cryptocurrency exchange, Coinmama, has become the first crypto exchange to be authorised to integrate with ApplePay, according to an announcement shared with local news website . Other crypto exchanges have integrated ApplePay before, since its application programming interface (API) is open to every developer. Coinmama is, however, the first crypto exchange to receive...

Australian banks bring legal proceedings against crypto giant Ripple

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In its concise statement filed with the court last week the NPPA states its PayID service was well established with more than five million PayID’s registered by customers and more than one million payments made each week to a PayID. “Ripple’s service is clearly offered under a mark that is substantially identical with or deceptively...