spot_imgspot_imgspot_img

US Imposes Tax on Bitcoin & Cryptocurrency Staking Earnings

  • The US tax regulator, IRS, has declared that cryptocurrency staking services are subject to taxation.
  • Staking revenues are taxable after they are received, according to the IRS.
  • The IRS had previously made a similar decision regarding mining revenues.

The US Internal Revenue Service (IRS) has announced that revenues from cryptocurrency staking services are taxable, a decision that mirrors their previous stance on mining revenues.

Taxation of Staking Revenues in the US

The IRS has released its decision regarding the taxation of cryptocurrency staking services. The US tax authority will require taxpayers to report their staking earnings as gross income. This means that investors will have to report their cryptocurrency staking revenues as gross income for the year they were received. This decision will apply to both direct cryptocurrencies and assets on centralized exchanges.

The decision stipulates that staking earnings should be included in annual income at fair market value and determined when the assets are received. The fair market value is determined based on the price of the asset during the period it was received.

IRS’s Previous Stance on Cryptocurrency

The IRS had previously subjected cryptocurrency mining earnings to both income and capital gains tax. Ryan Selkis, the founder of Messari, stated that the IRS is treating crypto staking like stock dividends.

Regulatory Pressure on Cryptocurrency in the US

The IRS’s decision comes at a time when pressure is mounting in the US regarding cryptocurrency regulations. Regulatory bodies have been accusing cryptocurrency staking services and exchanges of illegal securities trading.

Conclusion

The IRS’s decision to tax staking revenues is a significant development in the evolving landscape of cryptocurrency regulation in the US. As the IRS continues to treat cryptocurrency more like traditional assets, investors and stakeholders in the crypto space will need to adapt to these changing regulations.

ABD stake gelirlerini de vergiye bagladi222
Don't forget to enable notifications for our Twitter account and Telegram channel to stay informed about the latest cryptocurrency news

spot_imgspot_imgspot_imgspot_img

Latest News

MicroStrategy Acquires 3,000 Bitcoin: Latest Status of the Company’s Assets!

Michael Saylor announced that MicroStrategy company purchased Bitcoin. The company's total assets exceeded 190K BTC.

Historic $1.3 Billion Bitcoin Transaction Sparks Debate on Crypto Valuation

A recent colossal Bitcoin transaction has reignited discussions about Bitcoin's valuation, comparing historical trades and pondering the future of currencies in the digital age.

Ethereum Dencun Upgrade is Approaching: Which Layer 2 Tokens Stand Out?

With Ethereum's Dencun upgrade approaching, tokens of Layer-2 DeFi platforms on Ethereum have started to gain attention.

A Massive Transfer of XRP Tokens is Occurring: Will XRP Price be Suppressed?

Based on blockchain transactions, more than 400 million XRP tokens were moved today. Will XRP price drop further?

Can Grayscale Apply for SHIB ETF? Shiba Inu Community Takes Action!

The Shiba Inu community called for action as Grayscale Investments filed to launch a SHIB token ETF.
spot_imgspot_imgspot_imgspot_img

PRO Analysis

Ethereum Breaks $3K as Rally Continues: What’s Next for ETH?

This article dives into Ethereum's recent surge past $3,000, analyzing the technical indicators and market dynamics driving its ascent and future prospects.

Will Bitcoin Rise To $50,000? Current BTC Analysis

Bitcoin is trading at $48,400 and may rise to $50,777 if it closes above $48,200. However, caution is advised in the range of $50,777 - $52,000. Corrections are common in the crypto market, so careful consideration is necessary before spot investments.

Where is the Solana Rise Target? Current SOL Analysis!

Solana is trading near the $108 resistance on the 8-hour chart, with a potential target of $111.84 if it surpasses this level. However, caution is advised in the $111.84 - $117.20 resistance range on the 6-hour timeframe.

Medium Term Ethereum Technical Analysis! What Awaits Its Investors?

When examining the medium-term technical chart of Ethereum, strong buying pressure is observed, pushing the price up from the $2139 support to the $2350 region. However, for the price to sustain its upward movement, it needs to surpass the $2407 resistance.

Can Bitcoin Fall To $35,000 Levels? Current BTC Analysis

When examining Bitcoin's 5-day technical chart, the analysis from January 18 is ongoing, indicating a continued downward movement from the $48,189 level. Bitcoin needs to close 5-day candles above the $44,200 resistance to gain momentum for an upward trend. 
Marisol Navaro
Marisol Navarohttps://en.coinotag.com/
Marisol Navaro is a young 21-year-old writer who is passionate about following in Satoshi's footsteps in the cryptocurrency industry. With a drive to learn and understand the latest trends and developments, Marisol provides fresh insights and perspectives on the world of cryptocurrency.
spot_imgspot_imgspot_imgspot_img

MicroStrategy Acquires 3,000 Bitcoin: Latest Status of the Company’s Assets!

Michael Saylor announced that MicroStrategy company purchased Bitcoin. The company's total assets exceeded 190K BTC.

Historic $1.3 Billion Bitcoin Transaction Sparks Debate on Crypto Valuation

A recent colossal Bitcoin transaction has reignited discussions about Bitcoin's valuation, comparing historical trades and pondering the future of currencies in the digital age.

Ethereum Dencun Upgrade is Approaching: Which Layer 2 Tokens Stand Out?

With Ethereum's Dencun upgrade approaching, tokens of Layer-2 DeFi platforms on Ethereum have started to gain attention.