Wall Street Journal Suggests ‘Quick Sale, Repurchase’ of Bitcoin ‘May Lower Your Taxes’

An article published Dec. 21 by The Wall Street Journal (WSJ) has suggested investors should sell and then repurchase their Bitcoin (BTC) as a strategy to save on taxes.

In the context of the 2018 crypto bear market, the WSJ suggests that “the only good thing about investing in cryptocurrencies [this year] was the tax break.”

Given that the United States tax authority, the Internal Revenue Service (IRS), has treated crypto as investment property as of 2014 — akin to stocks and bonds, not currency — crypto users can allegedly benefit from the “special and often favorable” taxation policy the country gives to investments.

For all investments in the U.S. — whether in stocks or in crypto — short-term gains and losses apply to holdings held a year or less, and any gains are taxable at a rate of as high as 40.8 percent. Long-term gains and losses meanwhile max out at an upper bound of 23.8 percent.

While losses can be used to offset taxes on gains for all investments, the potential tax relief may be even greater than for traditional assets in the case of crypto, because a “a quirk” in U.S. tax rules permits traders to sell and reinvest their crypto right away, in full respect of the law.

Readmore: https://cointelegraph.com/news/wall-street-journal-suggests-quick-sale-repurchase-of-bitcoin-may-lower-your-taxes

Kamusta status ng investment nyo kabayan? Sakin down pa rin ako kasi noong May lang ako pumasok at pag pasok ko ay correction na ng market. Pag may pera ako, bumibili din ako para ma lower ko ang average na presyo ng investment ko.

As of now is negative parin Op, dahil pa talaga medyo nakakabangon ang buong markado ng crypto, pero hindi parin ako nag sesell nagbabakasakali nalang ako na tumaas na ang bitcoin sa taong 2019.

Facebook is reportedly making a cryptocurrency for users of the messaging service WhatsApp, Bloomberg reports on Dec. 20. The token will purportedly be used for money transfers made within the app, and will focus on the remittances market in India.

Citing sources familiar with the matter, Bloomberg states that Facebook is developing a stablecoin. The sources further stated that the coin will not be released anytime soon, as Facebook is still working on a strategy for custody assets i.e. the asset to which the stablecoin will be tied.

The Indian remittances market is significant. According to data from the World Bank, the country received nearly $69 billion dollars in foreign remittances in 2017, or 2.8 percent of the country’s GDP.

Readmore: https://cointelegraph.com/news/bloomberg-facebook-is-developing-a-cryptocurrency-for-transfers-in-whatsapp

Two United States congressmen introduced a bill in the House of Representatives on Dec. 20 that would exclude digital assets from being defined as securities.

The “Token Taxonomy Act of 2018” was introduced by Reps. Warren Davidson (R) and Darren Soto (D) and seeks to exclude digital currencies from being defined as securities by amending the Securities Act of 1933 and the Securities Act of 1934. The bill especially calls to:

Readmore: https://cointelegraph.com/news/us-new-legislation-proposes-to-exclude-crypto-from-securities-laws

Ang Ethereum ay nabuhay sa ibabaw ng overhead resistance ng $ 102.5 at ang 20-day EMA. Sa paggawa nito, muling naipasok ito sa nakaraang pagpapatatag.

Ethereum has risen above the overhead resistance of $102.5 and the 20-day EMA. In doing so, it has re-entered into the previous consolidation.

Source: https://cointelegraph.com

The important levels to watch on the upside are $4,500 and $5,000. On the downside, a break of $3236.09 will resume the downtrend.

Source: https://cointelegraph.com