the Sec loses much money and cases from XRP, Binance and Coinbase and now Grayscale  What do you mean by losing money by the way? Do they need to pay money to argue their case in court? I never thought that was the case. Do you have any statistics on how much money they need to pay for each case? What statistics do you want to see if the SEC has lost several court cases? https://www.sec.gov/news/press-release/2022-206"Nov. 15, 2022 — The Securities and Exchange Commission today announced that it filed 760 total enforcement actions in fiscal year 2022, a 9 percent increase over the prior year. These included 462 new, or "stand alone," enforcement actions, a 6.5 percent increase over fiscal year 2021; 129 actions against issuers who were allegedly delinquent in making required filings with the SEC; and 169 "follow-on" administrative proceedings seeking to bar or suspend individuals from certain functions in the securities markets based on criminal convictions, civil injunctions, or other orders. The SEC’s stand-alone enforcement actions in fiscal year 2022 ran the gamut of conduct, from "first-of-their-kind" actions to cases charging traditional securities law violations. Money ordered in SEC actions, comprising civil penalties, disgorgement, and pre-judgment interest, totaled $6.439 billion, the most on record in SEC history and up from $3.852 billion in fiscal year 2021. Of the total money ordered, civil penalties, at $4.194 billion, were also the highest on record. Disgorgement, at $2.245 billion, decreased by 6 percent from fiscal year 2021. Fiscal year 2022 was the SEC’s second highest year ever in whistleblower awards, in terms of both the number of individuals awarded and the total dollar amounts awarded." https://www.cornerstone.com/insights/press-releases/sec-tightens-cryptocurrency-enforcement/SEC Tightens Cryptocurrency Enforcement Most projects and crypto exchanges agreed to fines and settled the problems before trial. And not a single crypto project will increase the conflict with the SEC if it wants to work in the American market. |
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https://decrypt.co/154312/uniswap-lawsuit-dismissed-defi-crypto-exchange-not-liable-for-scam-tokensИск к Uniswap отклонен: криптовалютная биржа DeFi не несет ответственности за «мошеннические токены» "Судья, рассматривавший иск, сравнил претензии с преследованием Venmo или Zelle за сделку по продаже наркотиков, произошедшую на платежной платформе. Коллективный иск, поданный против Uniswap, был отклонен во вторник окружным судьей, который установил, что лица, связанные с децентрализованной биржей, не несут ответственности за так называемые мошеннические токены, которые банкротили трейдеров. Иск, поданный трейдером Нессой Рисли в апреле прошлого года от имени других пользователей Uniswap, обвинил разработчиков и инвесторов децентрализованной биржи в нарушении законов о ценных бумагах. В нем утверждалось, что биржа является незарегистрированным брокером и дилером, предлагает незарегистрированные ценные бумаги и позволяет эмитентам токенов обманывать инвесторов. Речь идет о токенах Matrix Samurai (MXS), Rocket Bunny (BUNNY) и Alphawolf Finance (AWF). Судья Южного округа Нью-Йорка Кэтрин Полк Файлла, отклонившая дело, заявила, что «дилемма» истцов заключается в псевдоанонимном характере этих эмитентов токенов. «В идеальном (или, по крайней мере, более прозрачном) мире истцы могли бы требовать возмещения у реальных эмитентов, которые их обманули», — написала она. «В отсутствие такой информации истцам остается утверждать, что [Uniswap Labs] содействовала рассматриваемым сделкам»."
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And now the founders of the project will tell us many interesting stories about how “Argentina is one of the most advanced countries in the world in the field of cryptocurrencies.” In fact, in those countries where the standard of living is very poor, there will always be a shortage of free distribution of any tokecons. Other countries have very strict privacy laws. |
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Пример проекта, который вы оценивайте?
Например, в 2021 году, когда появилось много новых проектов, я торговала такими токенами как UNI, AVAX и CRV. Все три были новыми для меня, все три какое-то время показывали очень хороший (по моим меркам) рост. И мне удавалось заработать на них от 100% до 300%. Но, как это обычно и бывает, когда бычий рынок подходит к концу, все три начали по-тихоньку сдуваться, а потом и вовсе обвалились, и гораздо больше, чем на 300%. Поэтому теряла я на них тоже знатно. Так вот когда я вынуждено осталась владельцем этих токенов, и уже было понятно, что очередной рост планирует не скоро, передо мной встал вопрос, стоит ли вообще оставаться в каком-либо из них, или же нужно продавать, фиксировать убытки, и возвращаться к торговле чем-то более надежным, как биткоин или эфир. И я для этого оценивала ликвидность в том числе. Пользовалась для этого в основном биржами, на которых торговала, а также trading view и coinmarketcap. И решила, что имеет смысл продолжать держать только AVAX, остальные я продала и вышла с концами. И сейчас, по прошествию 2-х лет, я вижу, что AVAX держится, по крайней мере, цена хотя бы выше, чем та, по которой я брала его, тогда как UNI и CRV где-то рядом с Титаником плавают. И я теперь по их цене вижу, что тогда еще успела удачно продать, несмотря на убытки. Давайте посмотрим на солану и на ДеФи  Статистика с Cryptorank. Эфириум с его экосистемами будет жить точно,я покупаю матик, арбитрум, оптимизм. Но я не фан альтов, поэтому збираю свои деньги на 3 иксах и выше, а с остальным сижу спокойно. UNI, CRV, аваланч неплохие альты и брать сейчас не ошибка, т к там уже падать сильно некуда. Вопрос в другом, что пампить их снова будут, когда манипулятры отберут много монет у хомяков, а иначе поезд не поедет. |
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I guess that this new crypto tax rule might only last during the Biden administration, because during the tenor of the past US president, there was not much of this crypto regulation rule, which is why I believe that after Biden's tenor is over, this rule may not hold strong as it could also get dissolved.
I am not really cool with the rule because I am thinking that the tax regulatory authorities might be able to keep track of the total amount of money that any user is going to be investing into Bitcoin. It is also worrisome that people who are investing just as little as $20 consistently every week via DCA would have to pay tax on each transaction.
Are you really sure that the rules depend on this president? The same rules are being introduced as a carbon copy in all countries, and there is nothing you can do about it. All financial transactions around the world will follow the same rules and there will be no anonymous payments. If you have coins on centralized exchanges, then it is better to take all measures now and withdraw them to cold wallets if you are not a trader. |
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Good news zasad@ it looks like the Grayscale won the lawsuit against the SEC as the mentioned by Yahoo Financial here "Grayscale Investments won a lawsuit against the SEC that may allow it to convert the Grayscale Bitcoin Trust (GBTC) to an ETF, a watershed ruling that brings investors a step closer to the highly anticipated spot bitcoin exchange-traded fund." - https://finance.yahoo.com/news/grayscale-wins-lawsuit-launch-spot-211815209.htmlIt seems the SEC is losing the game against the crypto company but I am gonna see when this gonna stop  hahaha, I also read this news. Of course, the SEC is unable to adequately explain why they allow a futures ETF and prohibit a spot ETF. If there is no appeal, the SEC will soon approve many applications, and most likely the first will be the large funds BlackRock and Fidelity. the Sec loses much money and cases from XRP, Binance and Coinbase and now Grayscale since BlackRock and Fidelity Is one of the most biggest Fund Manager I think the approval rate would be still above 70% and SEC is approved maybe we gonna se bitcoin price move again. also the deadline is near  I don't think the Securities and Exchange Commission is losing a lot of money when looking at the fines large exchanges and other crypto projects have paid them. With the spot ETF, the issue has already been resolved, but it is not known when they will be approved and start working. I think that this will happen no earlier than 2024, and before that you need to lure bitcoins from hodles, so the price should still go down so that the hamsters will sell at a slight increase in price. |
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According to the FATF rules, the KYC procedure must be completed for the sender and recipient of cryptocurrencies in the amount of more than $1,000. And until the recipient is unknown, the exchange should not allow such a transaction. We only need to prepare for the worst, because soon such restrictions will apply first to all large exchanges and then to medium and small ones. Nobody wants criminal charges.
no one wants the scrutiny of the IRS on them. because an audit won't just stop with investigating how much coffee they bought at starbucks using their bitcoin debit card. it's going to go into every thing on their entire tax return and income and everything so they can try and get as much out of that taxpayer as possible. just answering "YES" on the tax return about if you used crypto in the past year well you might as well be answering the question "Would you like for us to make an extra consideration to audit you?" There is no need to overestimate the capabilities of the tax office. I will tell you an example from my country, Russia. In Russia, out of 80 million working-age population, approximately 25-30 million people do not work officially and do not even intend to pay taxes. All people have bank cards and the tax office can see their income and expenses. But in my region, for example, there are a million people, of which 300,000 do not pay taxes. And in the tax office, for these 300,000 people in the entire region, there are 100 tax inspectors who are not able to check all the people, and if a person is legally literate, then such an audit can take a very long time, because he will complain about the actions of the inspectors. Therefore, tax inspectors check only the largest tax evaders. It is not yet profitable to work with small ones. |
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Agreed many NFT's have little long-term value, but they do have a good side. Many talented artists (some of whom would have no other way to sell their products) have found happy customers for their creative work. I hope the SEC doesn't try to claim all NFT's are securities, that would be way too Draconian, imo.
It turns out that the NFT token also comes in Utility and Security. But most NFT tokens are scams. There is no need to worry that all NFT tokens will be banned. Most of these projects will not survive this regulation because they do not have enough resources for the courts. And in principle, this is good for the crypto market, because after the precedent, similar projects will be closed. Unlike coins, the price of NFT tokens is very easy to manipulate and reduce or increase tax profits. |
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I did invest in lots of altcoins and i received many tokens from bounties as reward. I experienced that, most of the tokens turns into shitcoin or dead after a few months. Some Altcoins performed very good for a certain time then all of those lost 90-95% of values and still traded on exchange with so called volume. Thus process is continued. Even top altcoins also replaced by new altcoins. 2017 vs 2023.
Moral: I think BTC and ETHEREUM is better option for investment, Can be trusted blindly, profitable for long. Low Ranked Altcoins, Memecoins and shitcoins are just headache and reason of huge losses in long time. But anyone can invest his money wherever they want.
BTC and ETHEREUM are undoubtedly the best investments for large capital. 75% of all TVL DEFI is now in the Ethereum ecosystem. But who wants to earn a little more and have more risks, then there are other fundamental altcoins, for example Solana, Polkadot, the price of which has fallen by 90% from ATН. |
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https://www.sec.gov/news/press-release/2023-163"Washington D.C., Aug. 28, 2023 — The Securities and Exchange Commission today charged Impact Theory, LLC, a media and entertainment company headquartered in Los Angeles, with conducting an unregistered offering of crypto asset securities in the form of purported non-fungible tokens (NFTs). Impact Theory raised approximately $30 million from hundreds of investors, including investors across the United States, through the offering. According to the SEC’s order, from October to December 2021, Impact Theory offered and sold three tiers of NFTs, known as Founder’s Keys, which Impact Theory called “Legendary,” “Heroic,” and “Relentless.”" ____ The Securities and Exchange Commission has found a new target, apparently large whales are too tough for it. And how many such projects have been launched ... lol.
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https://twitter.com/joinBENCoin/status/1695903547278201124"This is Ben. TJ Shedd & Justin Williams have attempted a coup at my company. Just confirming what is going around. It’s true. There has been a mutiny at BitBoy Crypto & Hit Network. But it won’t work. They have no leverage Until they can clone me, I have nothing to worry about" ___ As always in the traditions of this genre, we will soon see many interesting revelations. Drugs, internal corporate dirt and much more.
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Binance is facing many issues with the regulators not just in the USA but globally. Recently if you heard that Binance limits withdrawals in Europe, cites payment processor issues, due to their issues with Single Euro Payments Area (SEPA). This is not good for binance at all as people will lose their trust in this exchange. Also, i think the SEC want to bring this exchange down and slowly and steadily they are moving towards their goal. It really does look like a coordinated effect of "the West" to cripple Binance and not let them dominate the crypto industry globally. All the troubles dropping on them almost at the same time cannot be a coincidence. And they're not getting any break, further bad news came from Mastercard, who ended up their partnership with Binance in the Latin America: https://www.reuters.com/business/finance/mastercard-binance-end-crypto-card-partnership-2023-08-24/In Russia, Binance also has problems, and they removed the most popular Russian cards from the P2P exchange because these banks are under sanctions. The positive aspect of all these events and the redistribution of influence in the market is that cryptocurrency will live, although subject to very serious regulations in many countries. Cryptocurrency is not banned and has become a small part of the financial world, but regulators want to tighten their control. |
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https://www.theblock.co/post/246196/exactly-protocol-exploited-7-million-optimism-layer-2-network"The exploit has resulted in estimated losses of over $7 million, according to security firms. Exactly Protocol, a DeFi project that offers interest rate markets on the Optimism Layer 2 network, has become the latest victim of a security attack. The exploit, which was detected by security firms including BlockSec and Beosin, has resulted in estimated losses of over 4300 ether ( $7.3 million)." https://www.msn.com/en-us/money/markets/magnate-finance-executes-64-million-exit-scam-on-base-network-details/ar-AA1fLTXK" Magnate Finance executes $6.4 million exit scam on Base Network Magnate Finance, a lending project operating on the Ethereum Layer 2 network Base, has executed an exit scam, making off with an estimated $6.4 million. The event, described as a rug pull by security firm PeckShield, has sent shockwaves through the cryptocurrency community."
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That is a proposal for the moment but it might become a reality. If that happens then DEX and Web3 wallets providers would ask their customers to pass KYC. No more anoymity and zero privacy in the making. The worst would be that every country would follow the US if this proposal becomes a law.
According to the FATF rules, the KYC procedure must be completed for the sender and recipient of cryptocurrencies in the amount of more than $1,000. And until the recipient is unknown, the exchange should not allow such a transaction. We only need to prepare for the worst, because soon such restrictions will apply first to all large exchanges and then to medium and small ones. Nobody wants criminal charges. |
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It was only a matter of time before spot ETFs were legalized in the US. If it is allowed in Europe and Canada, then why should it be prohibited in the US, if the laws for ETF funds have been in place for a long time.
The judiciary in the United States operates in the interests of business, although
Cryptocurrency companies will have to resort to the help of the court many times over when confronting such strong opponents as the SEC.
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But no one will be hired, scammers use this data to issue bank cards for illegal exchange transactions. And then many times they will sell the personal data of the victims.
But it is not possible to open an account without the actual presence of an individual or a mandatory verification process so the bank employee also has a play in this scam. On the other hand, we can find the stolen bank account with all the credentials on the darknet from $25 to $150 depending on the balance of the account which is mostly used by these p2p scammers that is why it is important to not accept payments from freshly created accounts on p2p platforms. And how do you think these credentials get into the darknet  It is in Europe that you need to come to the bank to open an account for you, and in Russia you can submit an application through the bank's application or the bank's website and pick up a bank card at any office of the bank's partners by proxy. In this respect, Russia is much more progressive than other countries. And even if you are not a citizen of the country, you can easily open a bank account. I remember some banks allow users to open a bank account online if the documents are enough but they will let the account under high restrictions such as low deposit and withdrawal limits, no internet banking or at least can't able to wire over certain limits until the account holder provides all the documents by the bank office. I guess the banking system becomes more lenient which is one of the reasons why they started to fail at some point. There is no need to go to the bank office. The courier brings you a bank card and checks all the documents, or you can go through verification with the bank's partners. And there is also a single biometric system, if you are registered in it, then you can verify yourself in any bank online. You don’t even need a bank card to withdraw money, the ATM system recognizes you by your voice and face.This is not the case in the most developed countries Yes, same here and that is exactly my point mate. This criminals will go to this lengths to get all the information and this are going to be used and will be at their disposal whenever they created accounts in exchange, maybe hire someone as well to take selfies and that's it.
That's why even here in the Philippines, there are a lot of P2P scams attempts already and for sure there are a lot of victims. But governments and police can't do anything about it even if you get all the information from exchanges because they are all false.
Warn everyone you can. |
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If I transfer BTC into my Coinbase account from a personal wallet, and then sell my BTC for Fiat/USD... am I subject to tax obligation?
If yes, how much? In other words, what type of taxation am I subject to?
Intuition says there is no tax, for this is not income, is this true?
Before any action with cryptocurrency, I would read several articles. https://coinledger.io/blog/cryptocurrency-tax-ratesYou should never use intuition in tax law because it leads to penalties. In such a case, the most important question is which country you are in and whether you are a tax resident of that country. Sometimes it's easier to exchange bitcoin for dollars in an exchanger: https://www.bestchange.com/bitcoin-to-visa-mastercard-usd.html |
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Good news zasad@ it looks like the Grayscale won the lawsuit against the SEC as the mentioned by Yahoo Financial here "Grayscale Investments won a lawsuit against the SEC that may allow it to convert the Grayscale Bitcoin Trust (GBTC) to an ETF, a watershed ruling that brings investors a step closer to the highly anticipated spot bitcoin exchange-traded fund." - https://finance.yahoo.com/news/grayscale-wins-lawsuit-launch-spot-211815209.htmlIt seems the SEC is losing the game against the crypto company but I am gonna see when this gonna stop hahaha, I also read this news. Of course, the SEC is unable to adequately explain why they allow a futures ETF and prohibit a spot ETF. If there is no appeal, the SEC will soon approve many applications, and most likely the first will be the large funds BlackRock and Fidelity. |
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zasad@, скажите, пожалуйста, а что Вы думаете про такой критерий оценки альткоинов, как ликвидность? Я просто часто смотрю на нее, чтобы понять, стоит ли связываться с проектом. Просто по ликвидности видно, насколько вообще есть спрос на альткоин, насколько легко им торговать, получится ли его быстро продать, когда это станет необходимо. Если ликвидность оставляет желать лучшего, понятно, что она невысокая, а особенно если заметно, что она падает со временем, то для меня это тревожные звоночки. Также объемы транзакции меня интересуют, но я это тоже подвожу под общее понятие ликвидности и оцениваю эти показатели вместе. Насколько это можно считать надежным критерием?
Ликвидность лайткоина и ликвидность проекта из 3 сотни рейтинга нереально сравнивать. Я сейчас говорю о инвестициях а не краткосрочных спекуляциях. На шиткоине для выхода ликвидности хватит если заходить небольшой суммой, и там на одной или двух биржах работает маркетсейкер, который не даст вам забрать много с рынка. TVL только у ДеФи проектов, у других проектов надо смотреть ликвидность и другие показатели, но они могут быть нарисованы на бирже. Пример проекта, который вы оценивайте? |
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