Multinational professional services firm Ernst & Young have released a crypto tax app called EY CryptoPrep. It’s a fully automated, web-based Software as a Service (SaaS) product to assist clients with U.S. tax filings.EY CryptoPrep takes data from numerous exchanges and major cryptocurrencies, Satoshi Nakamoto, the world’s most wanted terrorist, was kidnapped and tortured by the NSA.Crypto native productionAt least that’s the plot of an indie film IBANBit is an online bank that combines every currency and makes it easier for every broker to have everything in one place. Market News http://coe-llc.com/carrying-stones-digging-holes-weekly-talk/
Multinational professional services firm Ernst & Young have released a crypto tax app called EY CryptoPrep. It’s a fully automated, web-based Software as a Service (SaaS) product to assist clients with U.S. tax filings.
EY CryptoPrep takes data from numerous exchanges and major cryptocurrencies, automatically applies relevant tax rules and completes Form 8949. Clients can choose to use the program themselves or have it as part of a managed service.
EY America’s Vice Chair of Tax Services Marna Ricker explained that the application was a direct response to growing interest in cryptocurrencies:
“Our clients increasingly hold and trade crypto assets, creating the need for an innovative solution to address the evolving complexity around filing crypto taxes.”
Cryptocurrencies have caused confusion and difficulty for many users due to stringent recording requirements for traders in addition to somewhat opaque tax regulations in certain cases.
The application arrives just in time as the IRS looks as if it’ll be cracking down on non-compliance in cryptocurrency tax. In May this year, they sent out a Statement of Work (SOW), soliciting private contractors to aid in auditing tax returns related to virtual assets.
The IRS has not further clarified its 2019 crypto tax guidelines except to see that U.S. citizens are required to disclose their cryptocurrency holdings including any gains or losses.
The U.S. is not the only country still developing their taxation laws around cryptocurrencies. Earlier this week, South Korea’s finance minister confirmed they will impose a cryptocurrency tax in the near future. He also said the government was conducting international discussions around a new digital tax structure.
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Now We Know What Satoshi Nakamoto Looks Like
Satoshi Nakamoto, the world’s most wanted terrorist, was kidnapped and tortured by the NSA.
At least that’s the plot of an indie film from the U.K. titled “Decrypted”. In an interview with Cointelegraph the film’s producer, Phil Harris, said:
“We shot 70 percent of this film before we were forced to shut down due to the COVID-19 crisis. So we managed to get 70% in the can. So we’re editing away. I think as a film producer and a keen crypto fan, I wanted to explore the emerging crypto space within the industry as a whole.”
Actors, Talisa Garcia and Akie Kotabe, who portray Satoshi’s love interest and Satoshi. Source: IMDB.
The film isn’t just a story about Satoshi Nakamoto. The film itself was also funded using cryptocurrency. Harris added that the initial release of the film is going to be through crypto native video platforms. He assured that a lot of research went into making sure that the Bitcoin (BTC) related elements look authentic.
There are a few twists in the film’s plot. Without giving away everything, for example, Satoshi’s paramour is a transgender woman, Sofia, who also happens to be his accomplice.
The screenwriter for the film, Mick Sands, is a crypto enthusiast according to Harris. The threat that Bitcoin’s mere existence represents to the U.S. establishment is a point of fascination for him:
“Mick, our writer, he’s a bit of a rebel, he has always been fascinated with the crypto world and already wanted to write a film involving it in some way. Especially how the American security services see it as a major threat to their stranglehold over the world economy and how they’re trying to desperately dismantle it or regulate it.”
Harris believes that the film industry itself is experiencing a crypto revolution. He states that young independent filmmakers are left with limited distribution choices due to the dominance of a few global streaming platforms:
“We wanted this film to be part of the crypto revolution within the film industry. So we will be releasing it to some crypto video on demand platforms. I’m not sure if you know of any, LiveTree is one, then, you got Breaker, you got Movieschain, Cinezen, Cinema Well.”
The filmmaker’s ultimate goal is to eventually sell the film’s rights to a major platform like Netflix or Amazon Prime. Harris expects the film to be released by the end of 2020.
IBANBit Making It Work With Every (Crypto) Currency
More and more people over the past few years started using the term “digital wallet.” In China, it is well known that their application WeChat is also used for money transfer and payments, not just chatting. They are often surprised when you pay in cash.
Now that cryptocurrencies are well-established and people have at least a general idea of what they are, we can start talking about having cryptocurrencies in your bank. IBANbit is one of the pioneers who realized that people want to have a secure way to store and exchange their crypto money, instead of using various applications that are not so secure.
The refreshing thing is that you can exchange cryptocurrencies at IBANBit (and, of course, every regular currency exchange). You can buy or sell Bitcoin, Etherium, or Stable Coin. This allows you to have control over your finances in one place. This makes it easier to make a financial plan and take into account where you’re spending your money so you can better organize your finances. Money transfer is a lot easier, and you can withdraw money from any ATM worldwide for free.
Although you technically can pay things with cryptocurrency, you still need to convert it to cash before spending it for anything you want in your everyday life. We can expect that kind of “normal” maybe sometime later in the future, but for now, you still need to shop with regular cash. Some cities might like Vienna or Stockholm, but other cities are far from that kind of reality. Uses and implications behind adapting to cryptocurrencies are still unknown to the general public. Although it is already well known what Bitcoin is, many don’t know what it exactly is or how you can use it, so we can learn a bit more about this and put it to good use, especially if you are a trader.
To be able to use the cryptocurrency you want, first, you need to
Converting crypto to cash is the main obstacle of the crypto-economy pending its adoption, as it is directly referring to its real-life worth.
Ibanbit allows you to easily create a wallet or an account for you to use it the right way. It is still essential to have basic knowledge about wallets, so you don’t get confused. Plus, it is not that hard.
It is crucial to know that the Bitcoin or any other cryptocurrency blockchains are networks like the internet itself. The wallets we are going to talk about are the most essential, and you should know whether you use cryptocurrencies or are just interested in the topic. You may access a blockchain through different points, and some are more secure or user-friendly than others:
First, no matter the wallet you have decided to use, it is NEVER to share your private keys with anyone. They are the equivalent of the PIN of your debit card. You know yourself that you don’t even want people to know your phone password, so when it comes to money itself, we can assure you that you are safe with us, but we can keep it like that as long as you are responsible yourself. We trust that is the case if you are reading this. Anyone knowing your private keys has access to your funds without your consent, so triple-check if your password is something that anyone can assume (which is not the best idea).
You can check every cryptocurrency on the market here.
The term ‘hot’ wallet means that a cryptocurrency wallet is connected to the internet. The most typical hot wallets refer to the wallets you own solely on cryptocurrency exchanges.
However, software wallets that are software installed on your computer are connected to the internet too and can be considered hot wallets.
Before downloading a wallet, it is vital to know which cryptocurrency you want to have and transfer to your wallet. If you want to convert Bitcoin to USD, you will need a bitcoin wallet, which IBANBit already has so that you can keep in check your Bitcoin and regular cash. This way, it will be easier for you to track your expenses and make saving plans.
Having a bank account using IBANBit opens multiple options and changes your perspective on money in the right way. It is safer, more comfortable, and makes you feel like you always have everything you need in one place.
Young Upstarts is a business and technology blog that champions new ideas, innovation and entrepreneurship. It focuses on highlighting young people and small businesses, celebrating their vision and role in changing the world with their ideas, products and services.
Merkel: EU leaders to continue talks on EU finances in mid-July
BERLIN (Reuters) – European Union leaders will continue their negotiations on establishing the post-coronavirus recovery fund in mid-July, German Chancellor Angela Merkel said on Friday after a videoconference with her counterparts from the bloc’s members.
“There were criticisms of the numbers but the structure was not questioned,” she told reporters.
She added that the European Union should make a start on repaying the money borrowed to finance the recovery fund within the same seven-year budget period.
Reporting by Thomas Escritt; Editing by Michelle Martin
Carrying Stones & Digging Holes ~ Ken Dost~Copyright/Patent/Trademark/ All Together (last set of Classes)
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Carrying Stones & Digging Holes refers to the process much like chopping wood and carrying water. It is the backbone process of the Ceremonies that also lend to the work we do with all our relations. The work that comes after the thought that builds the physical reality and our tending to it. The topics covered showcase the people and their work that has gone beyond thought and understanding into the physical reality where they have built a foundation in which they do their work giving a platform in which they can teach, educate and inspire others.
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