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Cryptocurrency

Biden administration unveils new crypto tax reporting rules

Bitcoins are seen in this illustration picture taken September 27, 2017. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsAug 25 (Reuters) - Cryptocurrency brokers, including exchanges and payment processors, would have to report new information on users' sales and exchanges of digital assets to the Internal Revenue Service (IRS) under a proposed U.S. Treasury Department rule published on Friday.The rule is part of a broader push by Congress and regulatory authorities to crack down on crypto users who may be failing to pay their taxes.A proposed new tax reporting form called Form...
Currencies

US charges two founders of sanctioned virtual currency mixer Tornado Cash with money laundering

Aug 23 (Reuters) - The United States on Wednesday indicted Roman Semenov and Roman Storm, two co-founders of the virtual currency mixer Tornado Cash, for their involvement with the banned outfit and related laundering of up to $1 billion in criminal proceeds.Storm, a naturalized U.S. citizen who lives in Washington state, was arrested on Wednesday, while Semenov - a Russian national - is yet to be taken into custody, the U.S. Attorney's Office in New York said in a statement.The criminal charges against both men, which include conspiracy to commit...
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