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Fla. bitcoin case tests money laundering limits

Date:
April 9, 2014
Source:
AP / Powered by NewsLook.com
Summary:
Florida has become the first state to bring criminal money laundering charges in a case involving the virtual currency bitcoin. It's a case that could test whether current law can adapt to new digital forms of payment. (April 9) Video provided by AP


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last updated on 2014-11-26 at 8:59 pm EST

Bitcoin Plummets as MtGox Continues to Halt Withdrawals

Bitcoin Plummets as MtGox Continues to Halt Withdrawals

TheStreet (Feb. 10, 2014) — The price of bitcoin continues to fall on Monday after Tokyo-based bitcoin exchange MtGox said the virtual currency contains a bug that allows for fraud. MtGox said the bug causes problems when customers try to make transactions to a third party. The exchange said the bug makes it appear that the transfer did not go through, which can prompt multiple transfers unintentionally on behalf of the sender. The exchange halted bitcoin withdrawals over the weekend and said on Monday that withdrawals would not be allowed to resume until the issue has been properly addressed. Video provided by TheStreet
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IRS Rules Bitcoin Is Property and Subject to Capital Gains Tax

IRS Rules Bitcoin Is Property and Subject to Capital Gains Tax

TheStreet (Mar. 28, 2014) — The Internal Revenue Service has determined that bitcoin will be treated as property, not currency. In its first big ruling on the virtual currency on Tuesday, the IRS said that bitcoin does not have "legal tender status." As a result of bitcoin being regarded as property, it can be treated as capital assets, governed by the same rules as stocks and bonds. In addition, the IRS said that people who receive wages in bitcoins would also be subject to federal income and payroll taxes. Video provided by TheStreet
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Uncovering Hidden Divorce Assets Can Be a Tricky Game to Play

Uncovering Hidden Divorce Assets Can Be a Tricky Game to Play

TheStreet (May 30, 2014) — Divorce is difficult but it's even harder when a spouse has stashed away some money. The first best place to look is in a tax return. Start with Schedule B, where dividends, interest, capital gains and losses are matched with known investments. When the math doesn't add up, it's a red flag that there might be a secret account. Another clue is when a departing spouse overpays a credit card with the intent of applying for a refund after the divorce is final. Outsmart your ex by reviewing all credit card statements. Beware of phony bill collectors as some wives and husbands create fake loans with relatives and friends to drain money out of joint bank accounts. All is fair in love and war, and that means kids are not off limits. Video provided by TheStreet
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California Man Denies Creating Bitcoin

California Man Denies Creating Bitcoin

AP (Mar. 7, 2014) — A California man named Dorian Prentice Satoshi Nakamoto denies having anything to do with Bitcoin. He rejected Newsweek's 4,500-word cover story that claims he is Bitcoin's creator in an exclusive interview with AP. (March 7) Video provided by AP
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