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Articles by Max Angel
Sophisticated Crypto Theft Targeting High-Net-Worth Individuals
HK Holland & Knight More Holland & Knight is a global law firm with nearly 2,000 lawyers in offices throughout the world. Our attorneys provide representation in litigation, business, real estate, healthcare and governmental law. Interdisciplinary practice groups and industry-based teams provide clients with access to attorneys throughout the firm, regardless of location. A recent court case has unveiled a new level of sophistication in attacks targeting high-net-worth cryptocurrency holders.
Sophisticated Crypto Theft Targeting High-Net-Worth Individuals | JD Supra
A recent court case has unveiled a new level of sophistication in attacks targeting high-net-worth cryptocurrency holders. In a meticulously orchestrated scheme, hackers managed to steal more than $40 million in bitcoin from an individual, despite the owner's use of hardware wallets, which are generally considered one of the most secure methods for cryptocurrency storage.
Sophisticated Crypto Theft Targeting High-Net-Worth Individuals
Highlights A recent court case has unveiled a new level of sophistication in attacks targeting high-net-worth cryptocurrency holders. In a meticulously orchestrated scheme, hackers managed to steal more than $40 million in bitcoin from an individual, despite the owner's use of hardware wallets, which are generally considered one of the most secure methods for cryptocurrency storage.
New Crypto Reporting Will Require Rigorous Recordkeeping
By Shaina Kamen and Max Angel (May 22, 2024, 5:14 PM EDT) -- Cryptocurrency has revolutionized the financial markets, but also created tax traps for the unwary investor.... Law360 is on it, so you are, too. A Law360 subscription puts you at the center of fast-moving legal issues, trends and developments so you can act with speed and confidence. Over 200 articles are published daily across more than 60 topics, industries, practice areas and jurisdictions.
Not So Cryptic: IRS Increases Oversight On Cryptocurrency Income Tax Reporting Requirements
In 2025, the IRS will begin increasing its oversight of cryptocurrency transactions by requiring brokers to report investor sales and exchanges tied to such transactions. Taxpayers not complying with these requirements may face penalties based on accuracy of reporting, meaning they should maintain detailed records – including date, U.S. dollar value and purpose – for all cryptocurrency transactions. For federal tax purposes, any form of virtual currency is treated as property and not cash.
Not So Cryptic: IRS Increases Oversight on Cryptocurrency Income Tax Reporting Requirements | JD Supra
In 2025, the IRS will begin increasing its oversight of cryptocurrency transactions by requiring brokers to report investor sales and exchanges tied to such transactions. Taxpayers not complying with these requirements may face penalties based on accuracy of reporting, meaning they should maintain detailed records – including date, U.S. dollar value and purpose – for all cryptocurrency transactions. For federal tax purposes, any form of virtual currency is treated as property and not cash.
Not So Cryptic: IRS Increases Oversight on Cryptocurrency Income Tax Reporting Requirements
Highlights In 2025, the IRS will begin increasing its oversight of cryptocurrency transactions by requiring brokers to report investor sales and exchanges tied to such transactions. Taxpayers not complying with these requirements may face penalties based on accuracy of reporting, meaning they should maintain detailed records – including date, U.S. dollar value and purpose – for all cryptocurrency transactions.
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