Tech

China advances its war on bitcoin, cracks down on mining

Enlarge / Technicians inspect bitcoin mining machines at a mining facility operated by Bitmain Technologies Ltd. in Ordos, Inner Mongolia, China, on Friday, Aug. 11, 2017. (credit: Qilai Shen/Bloomberg via Getty Images) Bitcoin took investors on another rollercoaster ride over the weekend after a top regulator in China announced a crackdown on mining, a new […]

Tech

Crypto payments above $10,000 would be reported to IRS under Treasury plan

Enlarge (credit: Getty Images | R.Tsubin) The Biden administration wants businesses to report cryptocurrency transactions with values of at least $10,000 to the Internal Revenue Service. “Cryptocurrency already poses a significant detection problem by facilitating illegal activity broadly including tax evasion,” the US Treasury Department said in its proposal for implementing the tax compliance initiatives […]