News

Here’s 5 altcoins to study as crypto prices drop close to a 1-year low
24/01/2022 23:15

Crypto prices continue to take a beating, but value-focused investors might consider taking a closer look at MATIC, FTM, DOT, FXS and CRV.

Fitch Ratings warns of risks crypto miners pose to US power supply
24/01/2022 22:55

“Crypto mining operations are price-sensitive entities that may be quickly scaled back or shut down if mining becomes uneconomical," said the agency.

There’s a browser plugin that autoblocks Twitter NFT profile pictures
24/01/2022 22:15

A popular Github contributor called mcclure built a browser plugin that autoblocks Twitter accounts using NFT profile pictures.

House members call for an end to lawmakers trading stocks — is crypto next?
24/01/2022 21:35

"This would end the potential corruption of lawmakers pursuing policy outcomes that benefit their portfolios,” said 27 members of the U.S. House of Representatives in a letter calling for a ban on stock trading.

Analysts say Bitcoin’s bounce at $36K means 'it’s time to start thinking about a bottom'
24/01/2022 21:07

Top traders are starting to search for optimal long entries for BTC even as concerns about the Federal Reserve’s new policy directive weighs on stocks and crypto markets.

$75M Blockchain Founders Fund II backs portfolio of P2E and Web3 projects
24/01/2022 21:00

Even as crypto markets succumb to bearish pressure, venture capital funds are deploying millions of dollars into blockchain startups.

Strategies for trading cryptocurrency during a correction, explained
24/01/2022 19:52

What do market corrections mean for crypto traders? And how can trading bots be used to an investor’s advantage?

Price analysis 1/24: BTC, ETH, BNB, ADA, SOL, XRP, LUNA, DOGE, DOT, AVAX
24/01/2022 19:47

Bitcoin and most altcoins have fallen to key support levels, but the current trading setup suggests traders lack the confidence to chase after an oversold bounce.

Law Decoded: When central banks seek public discussion, Jan. 17–24
24/01/2022 19:15

As the Federal reserve releases its position paper on CBDCs, the Russian Central Bank instigates yet another crypto ban scare.

Coinbase is now your personalized guide to crypto taxes
24/01/2022 19:00

By Lucy Aziz, Product Manager, Coinbase

Crypto taxes can be complicated. Last tax season, many customers told us they didn’t know if they owed taxes on their crypto activity, and those who did know found it manual and difficult to file.

This tax season, we’re introducing a tax center so customers can understand and file their crypto taxes with more ease and confidence. Customers will see all of their taxable activity in one place to determine if they owe taxes, and how much. If they’ve taken more advanced steps like sending or receiving crypto from Coinbase Pro or external wallets, they can receive free tax reports for up to 3,000 transactions from our crypto tax partner CoinTracker. The most complicated time of the year just became more clear.

See a simple summary of taxable amounts

U.S. taxpayers are required to report crypto sales, conversions, payments, and income to the IRS, and these transactions may be taxed as either capital gains/ losses or as regular income. Last year, customers had to research which transactions were considered taxable, and then manually track and sort them to calculate their gains/losses. It was tedious and time-consuming.

Now, we’re simplifying the process by showing each customer a personalized summary of their taxable activity on Coinbase, broken out over time by realized gains/losses and miscellaneous income. Customers can use these amounts to prepare and file their taxes either with their personal accountants or directly with tax prep software like TurboTax®, where all Coinbase customers get up to $20 off TurboTax products.

Get help with all crypto taxes, even transactions off Coinbase

U.S. taxpayers may owe taxes on the amount they gained from crypto, or may be able to use losses against their other income. In order to calculate gains/losses, we need to know the initial value of a customer’s crypto. There are some cases where Coinbase is missing this information (e.g. the customer received it from an external wallet). Customers with these cases can use our crypto tax partner CoinTracker to aggregate their transactions across Coinbase and other exchanges, wallets, and DeFi services. Coinbase and Coinbase Pro customers have free access to tax reports for up to 3,000 transactions made on these platforms and get 10% off CoinTracker plans that support the syncing of any other Wallet or exchange.

Learn about the latest crypto tax tips

To access tax tools on coinbase.com, customers can tap their profile in the upper right hand corner and will see Taxes as a new item in the drop down menu. To access from the mobile app, customers will tap the menu on the upper left hand side, tap Profile & Settings, and will see Taxes. Over the next few weeks, customers will also find written guides on topics like finding the right tax professional and filing taxes on NFTs plus explainer videos on capital gains/losses and income.

Coinbase is committed to making it as easy as possible to understand and file crypto taxes. We’ll continue improving tax tools and creating new content throughout tax season as we all navigate the evolving world of web3.


Coinbase is now your personalized guide to crypto taxes was originally published in The Coinbase Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.

Coin Bureau Youtube channel hacked despite 2FA protection
24/01/2022 18:31

It appears this was a coordinated effort targeting prominent crypto YouTubers, not just Coin Bureau.

Uniswap founder's bank account shut down by JP Morgan Chase, shadow-debanking allegations surface
24/01/2022 18:04

Banks do not need to provide an explanation to shut down accounts owned by clients deemed "too risky," according to former CFTC commissioner Brian Quintenz.

Blockchain-enabled digital fashion creates new business models for brands
24/01/2022 16:44

A “digital-first” model is disrupting the fashion sector, as blockchain technology shows advanced capabilities in Web3 e-commerce and sustainability.

Indonesia’s crypto industry in 2021: A kaleidoscope
24/01/2022 15:07

The Indonesian cryptocurrency industry and market experienced notable growth in 2021.

Bitcoin dives below $33K to fill futures gap amid record BTC ‘hodling’
24/01/2022 13:50

Bitcoin price losses keep coming but coins dormant for at least a year now account for 60% of the total BTC supply.

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