Victim of Crypto Fraud? A Forensic Accountant May be Able to Help
Victim of Crypto Fraud? A Forensic Accountant May be Able to Help. ARTICLE PUBLISHED BY THE DAILY BUSINESS REVIEW 5/10/22
- Daily Business Review
IRS updates its Voluntary Disclosure Program, and it includes Crypto
The IRS wants to encourage Voluntary Disclosure participation and reduce Taxpayer uncertainty, but its current Voluntary Disclosure Program is not set up for success according to the 2021 National Taxpayer Advocate Annual Report, issued in January 2022. Shortly thereafter, in
- Foodman Website and JD Supra
Ensuring Responsible Innovation in Digital Assets calls for TEAMWORK
The Executive Order signed by President Biden lays out a national policy for digital assets across six key priorities: consumer and investor protection, financial stability, illicit finance, U.S. leadership in the global financial system and economic competitiveness, financial inclusion, and
- Foodman Website and JD Supra
OFAC advierte a la industria de Moneda Virtual
OFAC advierte a la industria de Moneda Virtual – La nueva guía incluye requisitos de informes y posibles sanciones En una nueva Guía de Cumplimiento de Sanciones, la Oficina de Control de Activos Extranjeros (“OFAC”) del Tesoro de los EE. UU.
- Foodman Website and JD Supra
FED OPENS DEBATE ON U.S. DIGITAL CURRENCY
Report Examines Pros and Cons of CBDC The Federal Reserve is considering issuing a Central Bank Digital Coin (CBDC), according to a new report considering the pros and cons of such a move. Issuing this digital currency would be the
How the IRS Uses Social Media to Find Crypto Tax Cheats
Does your Twitter, Reddit, Facebook, Instagram or other social media feed feature photos of your new sports car, boat, fabulous vacation or the beach house that you bought with your crypto gains? Do you also report a low income on
The Tangled Web of Proposed Crypto Regulation
Don’t Expect Coherent Rules to Align Any Time Soon Multiple enforcement agencies within the US government agree that the $2.5 trillion crypto industry needs regulation. And heads of the largest crypto companies have told Congress that they agree. But therein
- Foodman Website and JD Supra
OFAC Warns FFIs And Crypto Sector On Ransomware Attacks
Prevention is Key, Sanctions Are Possible for Ransomware Attack During the first half of 2021, 68 different ransomware attacks extracted approximately $600 million from victims across the United States. The Treasury Department’s Financial Crimes Enforcement Network (FinCEN) says that the
- Foodman Website and JD Supra
Bitcoin’s Limited Supply Increases Its Value. Should You Invest in Cryptocurrency?
Macroeconomic concepts tell us that when supply of a valuable commodity is limited, demand for it will rise, and so will its price. Fiat currencies are backed by governments and central banks and more can be printed at will. Bitcoin,
- Foodman Website and JD Supra
Why Are Crypto Investors Still Buying?
Danger signs abound Despite its volatile and speculative nature, a single bitcoin is trading at around $61,134 (11/5/21.) Demand is growing exponentially, despite multiple danger signs. For example: The SEC, the U.S. Treasury, the DOJ, OFAC and the Financial Action
- Foodman Website and JD Supra
How Will Virtual Currency Be Taxed?
Non-compliance with virtual currency (crypto) tax rules can cost taxpayers dearly It Depends Who You Ask! Despite the confusing interpretations by US regulators, non-compliance with crypto tax rules can cost taxpayers dearly. Unfortunately, the answer to “how is virtual currency
- Foodman website and JD Supra
Subprime Market Redux: Will Leverage Be Crypto’s Downfall?
I Predicted the Subprime Lending Bubble’s Collapse. The Signs Are The Same For Cryptocurrency. When I predicted the bursting of the housing market’s subprime lending bubble in 2006, a lot of people called me crazy. And some of the people
- Foodman website and JD Supra
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