An examination of the incentives created by structuring a Bitcoin reserve to hold seized coins with civil asset forfeiture existing. Yesterday, President Trump announced the long awaited Strategic “Bitcoin” Reserve on Truth Social, and many in the space are pissed. First, the Reserve appears to be far from Bitcoin only. “They’re doing DEI for Charles […]
A summary of the current state of the IRS Broker Rule, declaring non-custodial front-ends for smart contracts brokers for reporting requirements. Between the holidays and New Years, the IRS used the last passing days of the Biden administration to finalize its long feared Broker Rule: a regulation requiring all cryptocurrency exchanges – custodial and non-custodial, fiat to crypto […]