Bitcoin and other cryptocurrencies have captured Britons' attention, but new research shows an increasing number are making speculative investments without a clear understanding of the risks involved and may be borrowing to do so. With bitcoin teetering around $40,000 a coin and other cryptocurrencies rising to new heights, crypto has, for some, become a genuine alternative to traditional investments. The Financial Conduct Authority's latest consultation paper estimates that around ...
Bitcoin slumped back below $40,000 amid reports the Treasury Department wants all cryptocurrency transactions over $10,000 to be declared to the IRS In a report issued on Thursday, the Treasury described new compliance proposals from President Joe Biden, including mandatory tax reporting for transactions of $10,000 or more for Bitcoin and its rival cryptocurrencies. Explaining the proposal, a Treasury Department spokesman said: 'Cryptocurrency already poses a significant detection ...