EddieJayonCrypto
26 Sep 22
• IRS going after crypto tax evaders• Dogecoin community could be considering a more to Proof-of-Stake• Apple is greedy AF, but wow• Interpol issues a Red Notice Do Kwon who says he is not on the run• Iran launching a pilot CBDC based on IBM's opensource Borna platform• Binance is looking to re-ente...
• IRS going after crypto tax evaders• Dogecoin community could be considering a more to Proof-of-Stake• Apple is greedy AF, but wow• Interpol issues a Red Notice Do Kwon who says he is not on the run• Iran launching a pilot CBDC based on IBM's opensource Borna platform• Binance is looking to re-enter Japan legallyInternational movement and direct action is going to be interesting. Here is what is on my mind today.1. US Internal Revenue Service (IRS) is going to crack down on people not paying their crypto taxes. I think this should not be a shock to people. The math is simple. If you sell crypto for a profit, you must pay taxes on that profit. The best thing you can do it to speak to reputable and knowledgeable tax advisor so you can get crypto tax plan in order. To answer a common question, if you purchase crypto and swap that crypto for another crypto, you are not exempt from taxes on any gains. There is a lot to sift through, but I strongly suggest speaking with a CPA since they have to stay knowledgeable in tax laws/regulations. 2. Dogecoin could be the next big coin to go the PoS route. Whether you realize it or not, Dogecoin is not the second largest Proof-of-Work coin after Bitcoin. Imagine if that coin moved to Proof-of-Stake. Well, the DOGE team has not they are working with Vitalik Buterin to create a PoS implementation. It is not to say that anything is definitive, but there are discussions. 3. Apple is greedy af. They are going to charge a 30% commission for in-app NFT sales. Now, I have always known they are ridiculously expensive to work with, but this number is nuts. As a developer, I truly wonder if there is any valid reason a company must develop an app in their walled garden versus simply creating a well done website. 4. We all knew it was coming when South Korea cancelled Do Kwon's visa. Interpol has issued a red notice for him. That means he is on a global watch list and manhunt. Nobody knows where he is at the moment, but it is only a matter of time before he is caught. South Korea is not playing games with the guy that says he isn't on the run. 5. Iran is set to launch a pilot of its CDBC dubbed "Crypto Rial". Based on IBM's opensource distributed ledger technology, Borna. Iran is expected to take a phased approach to the full launch of the CBDC so minimize errors. The plan also calls for banking institutions to switch from paper rials to electronic ones. This is going to be interesting to watch play out. 6. Binance is looking to re-enter the Japanese market. Binance had been drummed out due to lack of appropriate licensing about 4 years ago. It looks like they are trying to make a pointed effort to take the right steps to obtain proper licensing. This is on the heels of announcing its Global Advisor Board. I think this is just a single step in what is most likely going to be a concerted effort to clean up any missteps.