IRS Again Insists in Lawsuit That Crypto Staking Is Taxable

The U.S. Internal Revenue Service (IRS) has again insisted that cryptocurrency staking is taxable, saying that staking rewards incur a tax liability once they are received

IRS insists again in lawsuit that crypto staking is taxable, South Korea to delay crypto asset taxation by 2 years, Japanese police conclude DMM Bitcoin theft was work of North Korean Lazarus Group. MicroStrategy purchased 5,262 Bitcoins for $561 million last week, later to hold special shareholders meeting to vote on key proposals. Hyperliquid denies North Korean hacking, claims user funds handled properly. MoonPay reportedly in talks to acquire crypto payment platform Helio for $150 million, Robinhood has no plans to hold Bitcoin for investment. Aerodrome acquires and locks 16 million AERO tokens as veAERO. GCL Energy and Ant Digital Technology cooperate to complete RMB 200 million RWA based on photovoltaic physical assets, Telegram's total annual revenue exceeds US$1 billion. BIO Protocol announces total supply of 3.2 billion BIO, initial circulation at 39.05%. Binance Labs announces investment in Usual, Avalon Labs completes $10 million Series A financing, Usual completes $10 million Series A funding, led by Binance Labs and Kraken Ventures, CoinShares: Digital asset investment products saw a net inflow of $308 million last week, Meme coins will account for 31% of crypto narratives in 2024, a nearly 4-fold increase from last year, 110,000 ETH transferred from Bithumb to an unknown wallet, about $368 million.