Category Archives: Cryptocurrency

Cryptocurrency has become one of the most widely discussed topics of 2022. As such, it shouldnt come as a surprise that mentioning crypto in an online dating profile may generate additional attention.

A new study from brokerage firm eToro found that 33% of Americans who were surveyed would be more likely to go on a date with someone who mentioned crypto assets in their online dating profile. Out of the 2,000 adult residents in the United States between the ages of 18 and 99 surveyed, more than 40% of men and 25% of women indicated that their interest in a potential date is stronger when crypto is written on a dating profile.

Callie Cox, U.S. investment analyst at eToro, told Cointelegraph that the findings from eToros inaugural Crypto & Culture survey demonstrate the crossover between money, culture and identity. We talked a lot about identity in the survey and how this has a strong place in the crypto community. The genesis of this campaign was to better understand how people think of big life projects and finding that perfect partner, said Cox.

With this in mind, Cox explained that one of the most notable findings in the report was that 33% of respondents would be open to dating someone who mentioned crypto in their profile. This shows there is a connection between money, love and identity when people look for a partner on a dating app, she remarked. Cox added that it was also interesting to see that nearly 74% of survey respondents noted they would likely go on a second date with a person who paid the first dates bill in Bitcoin (BTC). We also wanted to test the environment to see how people felt about using crypto as a currency. We were surprised to see this percentage so high, which also speaks to identity.

While these findings suggest that publicly open crypto holders and enthusiasts may attract more attention across dating apps, Cox shared that Millennials and Gen Z respondents were the majority of people who participated in the survey. Everyone had to self-identify and most of the respondents were from the younger generation, she said. Regarding using crypto as a currency, Cox further mentioned that eToros findings show that paying a bill in Bitcoin is of greater interest to men than to women.

Although eToros survey suggests that crypto terminology may make daters more desirable, some crypto community members find mentioning the trait to be a double-edged sword.

For instance, Hailey Lennon, law partner at Anderson Kill and founder of Crypto Connect, told Cointelegraph that she didnt initially have Bitcoin anywhere in her online dating profile, but that she eventually added it since the digital asset has been a long-time passion of hers. While Lennon didnt notice an increase in responses to her profile from adding Bitcoin, shes had some matches that have piqued her interest due to commonalities:

However, Lennon also pointed out that including crypto terminology in your online dating profile can backfire. Sometimes I will reframe things and say that Im an attorney in financial technology, without mentioning Bitcoin or cryptocurrency to not make the entire conversation become about Bitcoin and what I do for a living. You also have those people who still associate cryptocurrency with this false narrative of it being used only for criminal activity and money laundering, so it can be interesting to try to explain how you are a lawyer in the digital asset space, said Lennon.

Moreover, while Lennon finds eToros survey results to be interesting, she noted that many people in the crypto community focus so much on digital assets in their day-to-day lives that they may want to have non-crypto-focused conversations in romantic settings. Sometimes a date can only consist of wanting to talk about Bitcoin and how it works when people find out what you do for a living. That can get kind of old and take the romance/fun out of the date.

Echoing this, Ivan Perez, owner at Multiplied a crypto-focused PR firm told Cointelegraph that since adding investing and working in crypto to his online dating profiles, hes connected three times with women who also work in the cryptocurrency space. While Perez mentioned that the commonality can be an added plus, he shared that each date he went on with someone in the crypto sector felt more like work than pleasure. All we did was talk about crypto, expressed Perez.

Perez further explained that having crypto in his online dating profile has also attracted the wrong attention at times:

In turn, Perez explained that working in crypto can make dating frustrating. Now that NFTs are generating more mainstream attention, Ive had women at conferences start to look for crypto-rich individuals. This is frustrating because it puts you in a place of doubt. Are these women interested in me or the industry I work in, questioned Perez.

From a womans perspective, adding crypto to their online dating profile can also result in challenges. Jessica Salama, community lead at GoodDollar Foundation a non-profit initiative focused on financial education in digital assets told Cointelegraph that while she thinks adding crypto to her profile has increased her desirability, it hasnt necessarily been for the right reasons:

According to Salama, mansplainers are patronizing men who assume that women dont understand the basics of the blockchain industry. Unfortunately, the crypto space is still largely male-dominated and can, therefore, be frustrating for some women. On the upside, Salama is aware of the fact that she is part of a transformative industry, which can also be beneficial in terms of finding romance. I met a great guy at a friends dinner who is a crypto day trader and took a genuine interest and respect in my work and passion for Web3. We spent the whole night talking. I cant say it was love since the relationship slowly fizzled out (we forked?) but he gave me that extra push to speak up for and own what I do and love, explained Salama.

Crypto and dating aside, eToros study also found that 8% of respondents would be interested in receiving a nonfungible token (NFT) as a Valentine's Day gift this year. According to Cox, this statistic wasnt much of a surprise given the rise of the NFT market. Yet, Cox noted that this finding was interesting since it demonstrates that Millennials and Gen Zs value identity-themed products. The younger generation wants to own something in real life or in the Metaverse and that shows who they are NFTs represent this.

As a result, a number of identity-themed Valentines Day NFTs are being offered this year. For example, jewelry designer MYKA has created a limited edition NFT collection consisting of digital drawings on three of their best selling jewelry pieces.

Ronnie Elgavish, vice president of global marketing at MYKA, told Cointelegraph that he believes more couples will give NFTs this Valentines Day due to the rise of the Metaverse and desire for a digital identity.

Ivan Sokolov, founder of Mintmade a platform that offers programmable templates for NFTs agrees with Elgavish. He told Cointelegraph that he thinks more couples will give tokenized Valentines Day cards this year.

Sokolov said that Mintmade allows users to mint a pair of custom NFTs with their and their partners names on them. These NFTs are user generated, meaning it is created by the buyer. The buyer simply enters two names on the platform and can mint the NFT with these names on it, explained Sokolov.

In addition to NFT Valentines Day gifts, eToros study found that nearly 20% of singles would be more interested in dating someone if they used an NFT as a profile picture on a social platform or dating site. So, if your gift of an NFT doesnt pan out, you can always use it to find a new date for March, joked Cox.

Although eToros findings suggest that crypto terminology and features may make online dating profiles more attractive, safety is a major factor that must also be considered when publicly mentioning cryptocurrency. Keeping a users crypto safe has become a main concern as the industry goes mainstream.

To put this in perspective, a recent report from blockchain analysis firm Chainalysis found that the intersection between cryptocurrency and crime grew to become a $14 billion industry in 2021. Justin Maile, manager of investigations at Chainalysis, told Cointelegraph that its best not to flaunt that you own crypto especially investing or any holdings on your dating profile to avoid making yourself a target. Maile added that scams are not confined to dating apps. Meta (Facebook), Instagram, LinkedIn, Quora, Discord, WeChat and others are all platforms scammers use to find their victims, he said.

Maile further noted that while he believes its okay to publicly mention an interest in crypto, additional details shouldnt be revealed. Similar to how you wouldnt publicly share that you have a savings account and how much is in it, its safest to not publicly share that you own crypto to avoid making yourself a target.

Moreover, Cox remarked that eToros findings demonstrate that adding the term crypto to a dating profile helps hone in on a users identity, but that online daters must be wise and prudent about what they reveal. There are good and bad actors everywhere, so individuals must be careful whether or not crypto is mentioned in their profiles.

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Love in the time of crypto: Does owning cryptocurrency make daters more desirable? - Cointelegraph

Cryptocurrency criminals made off like bandits as digital assets spiked in popularity, according to a 2022 cryptocurrency crime report.

Cryptocurrency criminals made off like bandits as digital assets spiked in popularity, according to a 2022 cryptocurrency crime report. Illicit transactions jumped nearly 80% to $14 billion, an all-time high, in 2021, according to blockchain analytics firm Chainalysis. Overall transaction volume jumped 567%, which shows legitimate transactions outpaced crime. Yet, illegal activity is tracking popular growth categories in crypto, including decentralized finance, or DeFi projects, the data show.

Scams and rug pulls proliferated in the year. Scamming revenue rose 82% to $7.8 billion worth of stolen cryptocurrency, with more than a third of that total procured from so-called rug pulls, according to Chainalysis. A rug pull is a type of scam in which developers of what seemed like legitimate projects merely set up wallets to take investors money and run.

DeFi saw the greatest year-over-year growth -- 1,964% -- for laundering illicit funds, the report showed; mining activity was second at less than 500%. Chainalysis attributes the growth of crime in DeFi to hype; outsize returns from tokens like Shiba Inu that drove speculative trading; and the ease with which new DeFi tokens can be created.

LONDON (Reuters) - Britain's financial watchdog said on Wednesday it had too few powers to stop Binance from accessing a key UK payments network despite its concerns about the cryptocurrency exchange.

Binance said on its website on Tuesday that users could deposit sterling via Faster Payments, a network that oversees payments and bank account transfers in Britain.

The move is likely to allow the world's biggest cryptocurrency exchange to reach more customers in Britain. A Binance spokesperson said it had partnered with payments company Paysafe to access Faster Payments.

The Financial Conduct Authority (FCA) warned last year that Binance posed a significant risk to consumers, ordering it to cease regulated activities.

"Our concerns about Binance remain," an FCA spokesperson said. "We received a notification of this business partnership but have limited powers to object to arrangements of this kind."

"Paysafe is aware of our concerns and is subject to close ongoing supervision consistent with our approach for firms of its size."

Britain's finance ministry is due to set out later this year how the hitherto largely unregulated crypto sector should be overseen.

In response to Reuters questions on the FCA's concerns, which were first reported by the Financial Times, a Binance spokesperson said it takes a "constructive and collaborative approach" to discussions with regulators.

Paysafe said it was "very impressed by Binance's commitment to grow as an evolving and maturing business." It said it took its regulatory obligations "extremely seriously" and that it had "performed thorough due diligence on Binance to ensure that they also comply with these high standards, as we do with all merchant partners."

"We closely monitor activities across all of the businesses we work with and if any suspicious activity occurs it is reported to the relevant authorities as a priority," it said.

Pay.UK, which owns Faster Payments, did not immediately respond to requests for comment.

Pay.UK sets rules for Faster Payments members but does not have the "legal or regulatory" authority to enforce them, it told Reuters last year.

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Cryptocurrency crime hits high as thieves track buzz, 2022 report shows - HT Tech

The Internal Revenue Service announced today that the Voluntary Disclosure Practice Preclearance Request and Application has been revised. The IRSs Voluntary Disclosure Practice has been around for years, and it is the best way for taxpayers who have potential criminal exposure for tax compliance issues to come forward. According to the IRS, The updates reflect input from practitioners and stakeholders and take into account trends in the type of financial asset that taxpayers hold. Private tax practitioners welcomed the revised applications increased visibility into what kind of penalties would be assessed, but cautioned that some of the new requirements to disclose information, in particular disclosures that have to be made regarding cryptocurrency, require careful analysis.

An image of Bitcoin and US currencies is displayed on a screen as delegates listen to a panel of ... [+] speakers during the Interpol World Congress in Singapore on July 4, 2017. - The three-day conference on fostering innovation for future security challenges is taking place from July 4 to 6. (Photo by ROSLAN RAHMAN / AFP) (Photo by ROSLAN RAHMAN/AFP via Getty Images)

Who Should Disclose and Why?

The IRSs Voluntary Disclosure Practice is a way for people who fear criminal prosecution to come forward and disclose errors or omissions in tax reporting before the IRS gets to them. This is critically important, because if a taxpayer is already under audit, the taxpayer may not participate in the Voluntary Disclosure Practice. Taxpayers who made a mistake and dont fear criminal prosecution should find a different way to come forward, because the Voluntary Disclosure Practice is quite onerous, it requires full cooperation and carries stiff penalties.

This is an important form and process for people who recognize its better to step forward and address their tax situations head-on, before facing IRS enforcement action, said Doug O'Donnell, Deputy Commissioner Services and Enforcement. The revised form includes a number of updates, and we encourage people to review the guidelines and consult a trusted tax professional. The IRS encourages taxpayers to consult with professional tax or legal advisors in determining which option is the most appropriate. (I echo this advice and cannot stress it enough.)

What is different about the form and process now?

Megan Brackney, a partner at Kostelantz & Fink, LLP in New York, who handles federal and state voluntary disclosures and other tax controversies, welcomed the new form and instructions because it provides a lot more clarity on what the penalties taxpayers will face will be. We have been waiting for clarification on the penalty framework for situations other than taxpayers filing amended returns to report income tax and foreign assets.It is very welcome news to see the penalty framework for taxpayers who are using the voluntary disclosure to get caught up after years of not filing, and who have other compliance issues with tax other than income, such as estate, gift, and employment tax.The IRSs penalty framework in these areas is consistent with its approach in income tax cases, explained Brackney.

She further explained, This new guidance gives taxpayers much more certainty about their penalty exposure in estate, gift, and employment tax matters.I believe that this increased predictability will cause more taxpayers to make voluntary disclosures.However, the voluntary disclosure process has been very slow in the past few years, with some taxpayers waiting for more than a year to receive preclearance and other taxpayers waiting years to resolve their cases.Hopefully, the IRS will work through those issues so that the voluntary disclosure process can move more quickly, which is a benefit for the IRS and taxpayers.

Brackneys experience that the IRS disclosure practice is slow moving is not unique, and I have encountered the same frustrating slow moving process as well. This is another area in which taxpayer service would be improved by increasing IRS funding.

How does this impact me if I have unreported cryptocurrency?

John Colvin, a partner with Colvin + Hallett cautions taxpayers to think carefully before reporting cryptocurrency. According to Colvin:

The new IRS voluntary disclosure form substantially increases the volume of information that tax cheats will have to provide about their cryptocurrency holdings upfront if they want absolution from the tax man.Not only are taxpayers required to list non-compliant cryptocurrency assets, but also are required to disclose whether they used `mixers or `tumblers, and explain why such devices (which obfuscate the origin of the funds) were used.As illegal source income does not qualify for the voluntary disclosure process, professionals will have to be very careful in evaluating whether the mixer or tumbler was employed to disguise illegal sourced income.

With various mixers playing a prominent role in the recent Bitfinex theft complaint (US v Lichtenstein & Morgan, D.DC. Case No. 1:22-mj-00022), and in the Bitcoin Fog Mixer complaint (US v Sterlingov, D. DC Case No. 1:32-mj-0040), both of which were investigated by IRS-CI, the IRS is clearly targeting the providers of these services.What better way to identify mixer/tumbler providers than to have their former customers rat them out.

Of particular concern to some practitioners and their clients may be the requirement to specifically tell the IRS where all of the cryptocurrency is located and the identifying information regarding that cryptocurrency. The IRS has updated the form to include more specific focus on virtual currency.The IRS has expanded the information that a taxpayer has to provide in requesting preclearance, now requiring the taxpayer to state from the asset all noncompliant virtual currency that the taxpayer owned, controlled, acquired, or disposed during the disclosure period.Taxpayers may be surprised that they have to provide this much detailed information up front.From my experience, however, the IRS can be trusted to use this information only to determine whether the taxpayer is eligible to make a voluntary disclosure.It does require some faith, however, explained Brackney.

The fact that cryptocurrency is specially mentioned on the form, however, is no surprise. At this point I think we would be surprised not to see crypto specifically addressed in this expansion, said Andrew Strelka, former Senior White House Tax Counsel in the Biden administration.Whether its NFTs or Dogecoin, the blockchain is here and this Treasury Department understands that.This is an important step in bringing this industry out of the cold.

What About NFTs?

The Voluntary Disclosure Practice Form does not mention NFT, Fungible, or Token anywhere. The definition of what constitutes Virtual Currency, which is how the IRS refers to cryptocurrency, is broad: Virtual Currency is a dynamic area, and for purposes of this form the term encompasses assets beyond what many define as virtual currencies.

Colvin doubts NFTs are required to be reported as virtual currency. At least the NFTs that I am familiar with do not fall within the definition of cryptocurrency as they are unique assets and not fungible (like currency) in any real sense.I suppose at some point if someone were to offer 1,000 or 10,000 limited editions of an NFT that were absolutely identical, you might be moving towards fungibility/cryptocurrency status.

However, if any taxpayer had unreported income from an NFT, that income would absolutely be required to be reported on a voluntary disclosure practice application. An application that fails to completely, truthfully and accurately disclose all unreported income would not only fail to accomplish the goal of coming clean to the IRS, it would constitute a new felony in and of itself.

Read more:
Cryptocurrency Front And Center In Revised IRS Voluntary Disclosure Practice - Forbes

Tax season is here and advisors with clients who sold crypto in 2021 will probably get plenty of questions. The tax laws can be complex and fuzzy.

Heres what you need to know:

Is cryptocurrency taxable? Since 2014, the IRS has considered cryptocurrency to be property, not a virtual currency. This means that a transaction can result in a taxable gain or loss.

What is a cryptocurrency capital gain or loss? It is similar to a stock transaction. The gain or loss is the price you sold the cryptocurrency for, minus the cost basis.

For example, suppose you buy one Ethereum coin for $2,500. After a few months, the value soars to $3,500. You exchange your Ethereum coin for $3,500 of another cryptocurrency. In this case, you will have a capital gain of $1,000.

This is a short-term gain because you held onto the Ethereum coin for less than a year, and your taxes will be at your ordinary income tax rates. If you held for over a year, the transaction would have been taxed as a long-term capital gain, which has a maximum rate of 23.8%.

You can subtract your total losses from the total gains each year, thereby reducing gainsand taxes on gains. And you can deduct up to $3,000 in net losses against your ordinary income. If you have losses above this amount, you can carry them forward to future years.

How do you report a transaction on your tax return? Some cryptocurrency exchanges send you a 1099-B that lists the cost basis and net gains and losses from your transactions. With this information, you will fill out Schedule D and Form 8949 for your 1040 return. If an exchange does not issue a 1099-B, then you will need to track the information using your own records.

This can easily get complicated. For example, suppose you spend $100,000 on cryptocurrency. Then during the yearas the price appreciatesyou sell some to buy a Tesla, some other cryptocurrencies, fast food, clothes, and so on. All these are likely taxable transactions.

Any new rules? President Bidens $1.2 trillion infrastructure bill includes provisions to require exchangesby 2023to report cryptocurrency transactions and include them on 1099-B forms. The goal is to generate $28 billion in tax revenues during the next decade.

The bill also will require exchanges to report identifying information about crypto sellers for amounts over $10,000. The provision will go into effect in 2024.

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Should clients be worried about the IRS? Definitely. The 2021 Form 1040 has the following question: At any time during 2021, did you receive, sell, exchange, or otherwise dispose of any financial interest in any virtual currency? In other words, the IRS is getting more aggressive with enforcement. The agency has already had success in obtaining client information from exchanges.

If you do not properly report your crypto gains, you could be subject to back taxes, interest, penalties and even jail time.

What about wash sales? The wash-sale rule prevents investors from engaging in short-term stock trading to harvest tax losses. For example, if you sell a stock at a loss and then quickly buy it back, the IRS will deny the deduction. You have to wait at least 30 days to buy back the same stock or a security that is substantially similar.

A loophole exempted cryptocurrency transactions from the wash rule. This could change in 2022, according to pending legislation.

Tom Taulli is a freelance writer, author, and former broker. He is also an enrolled agent, which allows him to represent clients before the IRS.

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Cryptocurrency Taxes: What Advisors Need to Know - Barron's

The RCMP has provided the countrys financial institutions with a list of individuals it says have ties to anti-government protests, instructing banks and cryptocurrency exchanges to cease transacting with them.

The move comes after the federal government brought in emergency measures in a bid to end protests that have jammed the core of the nations capital for weeks.

A letter sent to banks names fewer than 20 people the national police service has identified as being involved in illegal acts related to the demonstrations, according to a source who has reviewed the document. It describes the RCMPs first disclosure of information to financial institutions and includes pictures and summaries with details about the people, some of whom are identified as main organizers of the protests.

The Globe and Mail is not identifying the source because they are not authorized to discuss correspondence with the RCMP.

A separate letter to several cryptocurrency exchanges obtained by The Globe notes that the RCMP and the Ontario Provincial Police are investigating cryptocurrency donations in relation to illegal acts falling under the scope of the Emergencies Act.

The letter tells the exchange operators to cease facilitating any transactions with more than 30 specific cryptocurrency wallet addresses that it lists, adding: Any information about a transaction or proposed transaction in respect of these address(es), is to be disclosed immediately to the Commissioner of the Royal Canadian Mounted Police.

The federal government invoked the Emergencies Act on Monday, giving law enforcement additional powers to respond to continuing blockades and protests against pandemic restrictions. An emergency order published on Tuesday night expanded financial institutions authority to freeze accounts and cut off financial services to those involved in the blockades without obtaining a court order. The standoff put greater scrutiny on Canadas cryptocurrency sector after supporters of the protests turned to alternative forms of fundraising.

The Canadian Bankers Association (CBA) confirmed that the RCMP sent letters to financial institutions on Wednesday that name people the police service identifies as designated persons the legal term the governments emergency order uses for those participating in illegal acts blocking roads, bridges and other critical infrastructure.

Although the letters put pressure on the financial institutions to act, it is up to each one to decide whether any particular client meets that threshold, and whether to freeze funds or block transactions.

All financial service providers, including banks, covered by the federal Emergencies Act will need to diligently implement the required measures, as stipulated by the government in the corresponding Emergency Economic Measures Order, which are not expected to impact the vast majority of customers, the CBA said in a statement.

An RCMP spokesperson declined to comment.

The temporary emergency measures the government imposed require financial institutions, including banks, credit unions and insurance companies, to cease dealing in financial services or facilitating transactions for people participating in activity deemed illegal under the Emergencies Act. The order also covers a broad swath of the financial sector that includes securities dealers, payment providers and crowdfunding platforms.

Each company must determine on a continuing basis whether they are holding property or funds for a designated person, the order says. Financial institutions must disclose those customers banking details and transaction records to the RCMP or the Canadian Security Intelligence Service, but can act on their own to freeze accounts and cut off services.

That leaves financial institutions trying to pull off a delicate balancing act: They must meet their duties under the emergency order and show government they are helping crack down on the illegal flow of funds, but avoid the perception that they are overreaching in choking off access to money for a subset of their customers.

On Wednesday, senior officials at Canadas largest banks huddled in meetings to determine what their specific obligations are and how to fulfill them. But there was still confusion and several unanswered questions about how they should proceed even after the emergency measures took effect.

Torstein Braaten, chief compliance officer and head of regulatory affairs at Toronto-based cryptocurrency exchange Bitbuy, said the platform does not have an opinion on whether criminal activity is going on, but it intends to comply with the request from law enforcement.

We are very concerned when an address gets identified as potentially associated with criminal activity. Its just unacceptable for us to be involved in that, Mr. Braaten said.

He noted, however, that people can easily create new cryptocurrency wallets. If the criminals know that their bitcoin address is known, then they will arguably just spin out another address, he said.

Justin Hartzman, chief executive officer of CoinSmart Financial, a publicly listed crypto trading platform that received regulatory approval last year, said the compliance orders are indiscriminately targeting the whole cryptocurrency ecosystem.

It is unfortunate, Mr. Hartzman said in an e-mailed statement. But the addresses associated with this alert have been widely disseminated to the entire crypto community here in Canada.

Erica Pimentel, a professor in the Smith School of Business at Queens University who studies cryptocurrency and blockchain, described the move as heavy-handed.

If the exchanges are in a custodial relationship where they effectively hold a clients bitcoin for them, then this is tantamount to freezing someones bank account. It seems like an overreach to be able to freeze a persons account, she said.

Prof. Pimentel said she questions the effectiveness of asking cryptoexchanges to stop facilitating transactions with certain accounts. She said clients can simply turn to international companies, which are unfettered by the Canadian Emergencies Act.

The client holds their own crypto, and the exchange is simply a vehicle that is being used to change one crypto for another, Prof. Pimentel said.

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RCMP identify dozens of financial, crypto accounts tied to convoy protests - The Globe and Mail

One of Manhattans leading Upper East Side General and Cosmetic Dental Office, now accepts Cryptocurrency as payment. In keeping up with its name, Upper East Dental Innovations brings yet another innovation, with its launch of Cryptocurrency acceptance as a form of payment. Upper East Dental Innovations PLLC. (UEDI) is said to be the first Cosmetic and General Dental office in Manhattan, to accept cryptocurrency as payment for dental services.

It is owned and operated by Dr. Sharde Harvey DDS. MS. FICOI, who has been in practice for almost 20 years. Dr. Harvey is a Cosmetic and Implant dentist and a huge proponent of modern technologies and its utilization in dentistry, for the improvement of peoples lives and lifestyle.

She has long been an innovator in her field, being one of the first dentists to implement same day crowns, trademarked, The Lunchtime Crown; utilize Cone Beam Computed Tomography technology for optimum dental diagnosis as well as Stem Cell Dentistry in the care of her patients.

If you have watched the evolution of currency, you will see that we have moved from barter to paper money, from credit cards to digital wallets, and now Cryptocurrency has arrived! More and more other small businesses are accepting cryptocurrency as payment, exactly as credit cards have become a way of life today. I can see the future of currency in cryptocurrency, because its faster, more efficient, more cost effective and actually more secure. In keeping up with Technology, one of the cornerstones of our practice, we are proud to now offer the convenience of cryptocurrency as a form of payment for dental services.

And while McDonalds may not yet accept Dogecoin, Upper East Dental Innovations will now accept Dogecoin, Bitcoin and Ethereum as payment for dental services.

For a limited time, come in for a dental appointment and win free dogecoins!

For more info, Check out http://www.uedi.nyc.

Upper East Dental Innovations is located at 121 East 60th Street, Suite 1B New York, NY 10022

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Cryptocurrency to be Accepted by Cosmetic and Implant Dentist in NY - Dentistry Today

The company employs about 200 people - and has another 100 positions open as it tries to keep up with demand for cryptocurrency users, who can trade in more than 300 digital currencies.

And its foray into the NRL - which will hand naming rights to the codes multimillion-dollar Bunker for try reviews from 2023 - will expose Swyftx to a much larger market.

According to sources familiar with the deal, the Australian Rugby League Commission was approached about a partnership with a cryptocurrency firm at the same time as the AFL, and undertook weeks of due diligence on whether to enter into an agreement with the ASIC-registered Swyftx.

Swyftx has already entered into domestic partnerships with the AFLs Brisbane Lions and their coach Chris Fagan, Adelaide Strikers in the Big Bash League and Supercars driver Jordan Cox. Overseas, cryptocurrency firms have already signed deals with major sports such as the NBA, Formula One and UFC.

We cant build the things we want to deliver to our customers fast enough, Swyftx chief executive Ryan Parsons said. This is a really great opportunity for Swyftx to introduce itself and cryptocurrency to millions of NRL fans.

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NRL chief executive Andrew Abdo said there were no immediate plans to pay employees or players in cryptocurrency, a la Australian Baseball Leagues Perth Heat, and the agreement with Swyftx was purely for brand perspective.

Abdo and ARL Commission chairman Peter Vlandys have turned around the codes financial plight despite another COVID-affected season last year, with a surge in grants from government partnerships and betting on matches contributing to a massive surplus.

The NRL increased its revenue from $419 million in the 2020 financial year to $575 million in 2021, despite being forced to play a historic grand final at Suncorp Stadium instead of the larger Accor Stadium in Sydney. The Queensland governments COVID restrictions also reduced Suncorp Stadiums crowd capacity to 75 per cent.

Read more from the original source:
NRL cashes in on cryptocurrency boom as Bunker gets new sponsor - Sydney Morning Herald

Coinbase had a Super Bowl 2022 commercial, and shortly after the ad aired, its own platform crashed.

Nonetheless, now that we have your attention, the cryptocurrency company announced its hosting a sweepstakes and giving away free Bitcoin to new users.

First, the free cryptocurrency offer: If you have yet to sign up, you can do so here. New users will receive $15 worth of Bitcoin, but only through Feb. 15.

Next, the giveaway: Coinbase is handing out $3 million worth of Bitcoin. To be eligible, you just have to opt in by Feb. 27.

There will be three winners, each rewarded $1 million worth of Bitcoin. Winners will be notified around mid-March.

One Bitcoin is currently worth over $42,000, according to real-time data tracked by CoinMarketCap (Market capitalization is constantly changing).

What is cryptocurrency?

Cryptocurrency is a digital asset designed to be used over the internet, according to Coinbase. Its decentralized, meaning it isnt controlled by the government or any other central authority such as a bank.

You can use cryptocurrency to buy products from retailers who accept it as payment, such as Overstock, or sell it to make a profit.

Other well-known cryptocurrencies besides Bitcoin include Dogecoin, Shiba Inu, Ethereum and Tether.

Where else can I buy cryptocurrency?

Crypto.com is another popular cryptocurrency trading platform, and also aired an ad during Super Bowl 2022.

Here are some other places where you can buy cryptocurrency:

You can also buy cryptocurrency on Venmo.

How much does it cost to buy cryptocurrency?

To invest, you dont have to buy one entire cryptocurrency, such as Bitcoin you can buy just a fraction. One Bitcoin is currently worth over $42,000, whereas one Dogecoin is not even worth 15 cents.

Ultimately, it depends on which cryptocurrency youre buying. Each has a different price and market value.

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Nicolette Accardi covers the online shopping industry, writing about commerce, daily deals and tips. She can be reached at naccardi@njadvancemedia.com. Follow her on Twitter: @N_Accardi.

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Coinbase giveaway: How to get $15 in free Bitcoin and opt in for $3M cryptocurrency sweepstakes - NJ.com

Monday, February 14, 2022

Sam Slade, Business Contributor

In todays tight labor market, Bitcoin could give you an edge. But before you forego paychecks, here are 3 things to consider.

Comply with federal and state law: Some states require wages to be paid in US currency. However, others allow an employee to agree in writing to receive part or all of their wages in another form. No matter where you operate, youll want to make any program optional and have employees authorize their participation in writing.Decide how youll pay: You can either pay employees in their normal currency, with a portion of the wages then converted to the digital asset of their choice, or you could pay in the cryptocurrency itself. With the latter, keep in mind youll need to withhold and report payroll taxes, which could be a little more challenging administratively since youll need to determine the fair market value of the cryptocurrency.Disclose the risks: Bitcoin and other cryptocurrencies can be volatile and drop steeply in value. (In December, Bitcoin fell as much as 21% in a matter of hours.) Plus, theres the potential capital gains taxes theyll need to understand since cryptocurrencies are currently considered property by the IRS. Be sure to make employees aware of the risks and agree to them in their written acknowledgment.

These are just a few of the topics youll need to think about when considering digital currencies as a payment method. With many potential legal issues, its a good idea to consult your attorney first before making any decision to pay wages or bonuses in cryptocurrency.

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The recent guidance provided by the US Treasury Department on transaction reporting by crypto companies is shining some light on staking one of the least understood but hottest corners of the digital-asset world.

Treasury indicated on Friday that stakers would be spared from forthcoming rules that are more targeted for brokers rather than investors using their tokens to help order transactions that create new blocks on various blockchain networks. Thats especially good news for crypto investors seeking a refuge amid the recent downturn in coin prices.

Staking has been booming in part because of the incentive-based aspect of crypto where various new coins and blockchains are competing for validators by promising stratospheric annual returns in the form of new coins. The rewards have been so lucrative that more than 70 per cent of all tokens issued on many chains Solana, Binance Smart Chain and Cardano, among them were staked late last year, according to crypto researcher Messari and tracker Staking Rewards.

As staking options multiply and promised returns reach into the triple digits, the trend has only strengthened. In the fourth quarter, 7.7 per cent of all the coins that make up the roughly $2 trillion crypto universe were staked, up from 1.8 per cent in the year-ago period, according to staking provider Staked, a unit of the crypto exchange Kraken. And thats even as Bitcoin, most of Ethereum, XRP and various stablecoins that make up more than 70 per cent of the crypto markets total estimated value, dont allow for staking.

Thats likely changing fast, with all Ether expected to migrate to proof of stake this summer. The Ethereum network, the worlds most used blockchain, is running a smaller proof-of-stake network called Beacon in parallel with its main one to work out potential bugs.

I think it goes from 8 per cent (of Ether being staked) to 80 per cent very quickly, said Tim Ogilvie, chief executive of Staked. It will happen over a year or two. Ethereum staking may be one of the biggest changes in crypto weve seen in a long time.

Of the different ways to earn yield on crypto holdings, staking is generally seen as less risky than some other DeFi strategies such as yield farming. That said, new blockchains offering eye-popping rewards are often at risk of failing to attract enough transaction volume and making the coins rewarded worthless.

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Triple digit rewards of staking offer respite to cryptocurrency investors - Business Standard