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FinTech

low taxes, island life make it hot for bitcoin fans

In March 2021, crypto entrepreneur and investor David Johnston moved his parents, wife, three daughters, and company with him to Puerto Rico. The 36-year-old, who has been involved in the crypto ecosystem since 2012, says the decision to relocate from Austin was kind of a no-brainer. Beyond the fact that Puerto Rico offers a year-round tropical…
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How HIFO accounting reduces IRS bill

Bitcoin is down around 36% from its all-time high in November, but the dip has a good side, thanks to a quirk in the tax code that helps crypto holders shield their winnings from the IRS.The IRS treats cryptocurrencies like property, meaning that anytime you spend, exchange, or sell your tokens, you're logging a taxable event. There's always a…
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RBI sets up fintech dept

MUMBAI: The RBI has set up a fintech department to facilitate innovation, and help identify and address challenges & opportunities in the new-age sector. The central bank has appointed Ajay Kumar Choudhary, executive director, to head the department. All matters related to inter-regulatory and international coordination on fintech shall also be…
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