JK007
@jk007007
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โ ๏ธ The US Treasury has adopted tax rules for cryptocurrencies
Starting January 1, 2025, all custodial platforms (such as Coinbase, Kraken, etc.) must collect and report client transaction data to tax authorities, similar to current practices for brokerage firms.
Similar rules are planned for DEX and DeFi, but implementation details are uncertain, so they have been postponed for now ๐
โ๏ธIn 2025, reporting and payment of taxes on cryptocurrencies remain the responsibility of exchange clients. However, starting in 2026, the tax authorities will begin issuing tax bills based on received data.
๐ตTaxation applies to anyone who cashes out stablecoins totaling $10k or more, or sells NFTs for at least $600.
American crypto enthusiasts have another reason to vote for Trump. 16 replies
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๐ง Solana ETF on the horizon?
It's almost the only blockchain platform that has come close to Ethereum in terms of popularity, trading volume, app ecosystem, recognition, user base, and other metrics.
โ๏ธ Recently, one company has applied to create a Solana ETF: VanEck.
They believe SOL is as much a digital commodity as BTC or ETH and plan to launch a spot ETF without futures, unlike previous BTC and ETH ETFs.
So far, we have:
๐ Bitcoin Spot ETF: approved and launched earlier this year
๐ Ethereum Spot ETF: approved and expected to launch in early fall (approximately)
๐Solana Spot ETF: application filed, awaiting SEC response
The launch of a Solana ETF is not expected anytime soon. An optimistic estimate is 2025, considering their regulatory challenges. 9 replies
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