The UK is playing catchup and has announced new proposals to increase their regulatory prowess in the crypto space. Beginning January 1, 2026, a new set of regulations will be implemented. The new rules will obligate crypto firms to gather and submit extensive user data in order to ensure tax...
Let's be frank. The UK’s upcoming crypto ID laws, set to take effect by 2026, are similarly a double-edged sword. On the other hand, the upside potential of stopping tax evasion and other dark money is tantalizing. We all want a fair system, right? Yet on the flip side, might...
Those measly $407 fines? Don't be fooled. They're not about compliance. They're about control. It’s a death rattle from legacy finance, reeling in fear from the power of the decentralized revolution that crypto represents. Instead, the UK is clamping down like a petulant child kicking over a sandcastle in anger....
HM Revenue and Customs (HMRC) released new rules regarding the taxation of cryptocurrency for residents of the UK. Regulatory users have until a phased deadline of early 2026 to achieve compliance. These changes require extensive personal identifying information for crypto transactions and carry potential civil penalties in the millions for...
A recent report has revealed that the Internal Revenue Service (IRS) is facing scrutiny over its handling of seized digital assets. The report was conducted by a non-profit government oversight group. Specifically, it calls attention to major failings in IRS procedures for handling seizure memorandums for seized cryptocurrencies and other...
This report shows a deeply troubling reality: the IRS is fumbling the ball when it comes to seizing cryptocurrency. Frankly, we should all be outraged. It’s more than just the cost of losing Bitcoin. It’s the feeling of eroding trust — trust in a system that was created to protect...
That’s about to change, as the Internal Revenue Service (IRS) significantly increases the enforcement of cryptocurrency investments. This action provides a powerful signal to investors on the importance of correct tax disclosure. This year, we have data that indicates a historic spike in these warning letters. Its distribution has increased...
Introduction to the TopicCryptocurrency adoption has skyrocketed over the past few years, bringing with it a new level of scrutiny from tax authorities. The IRS has dispatched hundreds of notices to individuals involved in crypto transactions, indicating a crackdown on crypto tax compliance. It's no longer a question of if...
We all know that the crypto world can seem like the Wild West at times, right? This isn’t to say fortunes won’t be made and lost overnight, but the sheriff (regulation) is surely beginning to ride into town. Navigating this landscape requires more than just technical analysis. It demands a...
GameFi is exciting, right? The prospect of true ownership of your in-game assets, the ability to earn real-world money while you play… it’s an intoxicating lure. We’re living in a time when our relationship with games is on the verge of revolution. Rather than being passive consumers, we’re becoming active...
Okay, I know what you're thinking. "$543 million liquidated? How can that possibly be good for anyone?" Trust me, I get it. Nobody likes seeing that much money evaporate. Every once in a while, it takes a controlled burn to remove all the deadwood and open up space for a...
Last week’s dramatic plunge in the cryptocurrency market saw more than $543 million in positions liquidated. More than enough to underscore the serious risks associated with crypto trading, this event marks the … It’s particularly treacherous when you throw in market volatility, margin trading, and psychological drivers such as fear...
$543 million. Gone. Poof. Gone into the tempestuous flotsam and jetsam of the crypto markets in less than 24 hours. Greed’s price tag to more than 122,000 traders, that was the price tag of greed — a painful lesson imparted with cold and lethal efficiency. Bitcoin recently reached Bermuda Triangle-like...
Picture this: Siti, a young mother from Jakarta, juggling two jobs and dreaming of a future where her kids can go to better schools. She just cannot stop hearing the chatter and buzz around crypto, around how average people are becoming crypto millionaires overnight. She happens to discover Qubetics, notices...
Qubetics has featured widely on the crypto news circuit of late…thanks to a jaw-dropping 950% pump. For those new to the cryptocurrency scene, understanding what Qubetics is, its potential, and its risks is crucial before considering any investment. BlockchainShock is committed to teaching neophytes the fundamental concepts of Qubetics. Here,...
A 950% surge in one hour? Qubetics certainly grabbed headlines, and understandably so. The appeal of get rich quick schemes often draws everyone in. Such frustration is particularly pronounced among those who are new to the crypto space. Before you full send it, let’s soberly stand back and examine the...
Snorter Bot (SNORT), a new crypto presale happening on the Telegram platform. With the presale coming to an end, it is garnering considerable buzz. The project has so far garnered $1.5 million in investor commitments, indicating high demand among investors. With under 24 hours to go, would-be investors are watching...
Genesis Qubetics, Arbitrum and Cardano are coming into prominence with crypto newcomers, each offering distinctive opportunities and features. Qubetics shot to an all-time high of $4.20 within the first hour of trading. This incredible jump represented a mind-boggling 950 percent gain from its starting value of only $0.40. Arbitrum is...