US Lawmakers asks IRS to FIX Bitcoin and Crypto Tax Code – Daily Bitcoin and Cryptocurrency News

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A group of 5 US lawmakers submitted a letter asking the IRS to clarify Bitcoin and cryptocurrency tax laws since they make no sense. Also Japanese exchange Zaif gets hacked. Tune in and find out the latest Bitcoin news and the latest crypto news today!

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37 Comments

  1. Telcoin actually has a very active community, the whole webpage thing is being addressed, but the team is very active on the official Telegram Chanel, the lead developer just did an AMA on Reddit and the CEO is doing a video answering the communities questions. The whole deal with not marketing yet is because they wanted a working product before they launched their marketing. Awesome project I believe.

  2. The current tax law is fraud, Bitcoin should have exactly the same set of laws the dollar has anything else is fraud. It is like there were a different set of laws for McDonald's and Burger king. The playing field needs to be fair.

  3. The problem with this is that Congress decides what is taxed and how. The IRS only enforces what Congress dictates. If these "legislators" were serious, they would work to publish their own orders and insist that the IRS follow them. Better yet, repeal the income tax altogether and send the IRS home for good.

  4. their right for blaming the right shitcoins. money aint everything. its influence u get that i see, but people arent equal, we all have a different agenda. invest in the future u want to live in. wake up.

  5. I know you dont get LTC…but the reason why LTC will make it is because of the community, its huge and alot stronger then the bch or nano community…people like you that focus on tech fail to realize how important a community network is for a coin to make it to mass adoption. LTC will be used for small transactional payments.

  6. Hey George, although you do not like LTC, can LTC still make us some cash because it is undervalued? I am invested in LTC and is it not the case that everything is valued in satoshis and if BTC which is destined to and will go up won't that make both ether and LTC explode?

  7. Why would the stock going up translate to crypto. Everyone knows what stocks are. Hardly anyone knows what cryptocurrency is. Just saying. I'm hoping that changes as are you. You have to admit this downtrend isn't helping matters. I invested all summer and watched everything go down. I know it won't last but I'm sure it makes people fearful. Bad news travels quicker because people are so negative these days. I'm sure there are people lining up to say I told you so in either scenario instead of helping others like your trying to do. Just my thoughts on it

  8. You need to be pressed on all this Litecoin FUD you're helping spread… your arguments are flawed. Litecoin was one of the early alt coins and it did differentiate itself when it was created and continues to do so by remaining POW with a small circulating supply while all these new coins are centralized with centralized node operators. Litecoin has a multibillion dollar marketcap in a bear market for a reason. The market has decided it has a use case and is not just a test net for Bitcoin. New coins come on the market that have no history, are not battle hardened, have centralized node operators who you must trust for network security and that they wont print more coins. Litecoin is better than that bullshit.

  9. Is it just me , or is he bullish on 90 percent of the Top 200 coins?.  Glad he finally said his opinion about Monacoin and Zcash. You think Ripple will drop or consolidate in the near term?

  10. I have to disagree with your Electroneum analysis. I just got done doing more research on ETN and they have a solid plan to mass adoption. Many deals with companies which serve over 100 million users. The game changer they just released is "Instant Pay" which is being used by real retail stores. It is literally instant and factually proven to be faster than Visa/MC. I'm not shilling this coin but I am impressed with what they have accomplished. What other crypto can you walk into a store and pay for your items with, not having to wait for confirmations. No retailer can accept Bitcoin or any other crypto because of this problem. This is what crypto needs desperately. Impressive tech by Electroneum.

  11. ETN wanted first to launch instant payment system. Marketing starts in October. And that simulated mobile mining is very good thing because ordinary people outside of crypto love it. Keep an eye on this gem bro, it's going to top 10 no doubt. Just remember what their first marketing did in ICO. This one will be 50x bigger because it will be supported by mobile operators

  12. Just to let you know. ETN just released a instant pay system for business and now have KYC implemented into their system. They haven't started marketing, that starts in October. Plus the mining simulator is basicly a type of airdrop.

  13. hey George would you comment on yesterday Vechain doing a flash crash AND how come nobody acknowledges the TV show "Advancements" (w/ Ted Danson), showcasing Vechain as a solid future token

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