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Paid In Cryptocurrency – What Happens Next? By BTC Peers

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2 years ago

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Paid In Cryptocurrency – What Happens Next? By BTC Peers

Paid In Cryptocurrency – What Occurs Subsequent?

Cryptocurrencies are all over the place, with digital property from DeFi to NFTs changing into more and more in style over the previous few years.

Your complete crypto house has develop into embedded within the cloth of society, with blockchain and distributed ledger applied sciences now powering total industries and provide chains. Crypto is now far more than simply – and a few fans have even began receiving their salaries in crypto.

Celebrities and athletes, together with Odell Beckahm Jr. from the NFL, Golden State Warriors gamers from the NBA, and even the Mayors of Miami and New York Metropolis, opted to obtain their salaries in Bitcoin or crypto.

Tech giants like Microsoft (NASDAQ:) and Tesla (NASDAQ:) already settle for Bitcoin and different cryptocurrencies (like ) as cost for items and providers.

Equally, freelancers have moved to just accept stablecoins like USDC and USDT for cost, while some smaller corporations and crypto-native corporations now supply salaries in crypto too.

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Latest statistics from Australia present that almost all of crypto traders are below 35 years of age, with roughly one-in-ten folks inside this age group holding crypto inside their portfolios.

So whereas getting paid in crypto could seem thrilling and fairly easy, some necessary implications are value contemplating earlier than getting began.

How regulated are cryptocurrencies?

Cryptocurrency regulation is rising globally as authorities search to design their coverage response to this new asset class. As crypto adoption grows, regulators will launch their coverage approaches within the coming months and years. One space of regulation that has moved shortly on this house is taxation – on the again of considerable investor income in recent times, crypto features are taxed in lots of international locations globally.

International locations have adopted varied approaches, with Singapore and Germany welcoming crypto companies, whereas China has imposed bans on crypto mining.

Whereas some contributors throughout the crypto house imagine regulation to be towards the mantra of ‘decentralization’, others, similar to company Bitcoin proponent Michael Saylor (the previous CEO of MicroStrategy), have inspired regulatory involvement to keep away from retail contributors being misled or dropping their funds.

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Adoption of cryptocurrencies has additionally come from nation states, with El Salvador legalising Bitcoin as a nationwide foreign money and authorized tender throughout the Central American nation.

How is being paid in crypto taxed?

With the elevated uptake in cryptocurrencies, there are a number of tax implications that traders and companies who work together with the crypto ecosystem should take into account. Relying on the place you reside, tax places of work globally usually view being paid in crypto equally to being paid in fiat currencies.

In lots of jurisdictions, together with the UK and Australia, your wage in crypto is probably going thought-about as revenue by your native tax workplace and, as such, will often be topic to Earnings Tax at your common Earnings Tax fee on your tax bracket. The tax you’ll pay is mostly calculated because the cryptocurrency’s truthful market worth on the day you obtain it.

For instance, if you happen to’re receiving stablecoins (often 1:1 pegged towards the worth of a fiat foreign money just like the US Greenback), this gained’t be too exhausting to calculate. The full quantity of USDC, USDT, DAI, or different chosen stablecoin will be simply marked as the worth of the entire quantity of tokens you obtained – i.e. 2,000 USDC = US$2,000.

Alternatively, if you happen to favor to be paid in a cryptocurrency similar to Bitcoin, , or one other cryptocurrency, you’ll should calculate the worth of your revenue on the day you have been despatched the crypto. For instance, if you happen to obtained 0.1BTC as your month-to-month wage, this may be calculated as its truthful market worth (say US$2,000). On this situation, you’ll have to pay Earnings Tax at your common Earnings Tax fee.

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When you obtained the identical quantity in each eventualities, US$2,000, there could also be different implications if you happen to have been paid in Bitcoin, as the worth will seemingly fluctuate after you’re paid.

What in case your crypto’s worth modifications?

Calculating the tax you owe in your revenue could seem easy initially. Nevertheless, you’re more likely to maintain onto the crypto property past the day you’re paid. For instance, if you happen to promote, swap, or spend this crypto, you’ll want to contemplate any Capital Positive aspects Tax (CGT) obligations. Once more, this is dependent upon whether or not your nation has a CGT regime, as some international locations, similar to Singapore, don’t.

If CGT applies, if a couple of months after you obtained your 0.1BTC as your month-to-month wage, you see that the worth of your 0.1BTC is now US$3,000, so that you resolve to now promote it for USD. Initially, you owed Earnings Tax on the wage of US$2,000 (the worth of the 0.1BTC on the day you obtained it), however as well as, you’ll now additionally make Capital Positive aspects on the additional US$1,000 achieve you made.

To calculate your CGT legal responsibility, subtract your value foundation (the worth of the asset on the day you obtained it + any charges associated to disposing of it) from the worth you offered the asset for. On this case, US$3,000 – US$2,000 = US$1,000. The way you’re taxed on these capital features will differ by nation and the way a lot you earn. If you end up incomes crypto and buying and selling steadily, you will need to search recommendation from a professional accountant or tax advisor.

Can I lose my crypto earnings?

The blockchain know-how that underpins cryptocurrencies signifies that transaction information is immutable or unchangeable. This implies if you happen to lose the non-public key of your pockets that’s holding your crypto tokens, your earnings (and another digital property inside your pockets) might be misplaced perpetually.

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This will likely sound scary, however there are many options, similar to utilizing alternate wallets, establishing a sizzling or chilly storage pockets, a software program pockets in your telephone or a {hardware} pockets utilizing a Ledger or Trezor.

All in all, ought to I receives a commission in crypto?

There are each execs and cons to getting paid in crypto. So, there is no such thing as a straightforward reply to this query. Earlier than making any choices, it’s essential to grasp the dangers and, the place crucial, search recommendation from a professional skilled.

Increasingly more individuals are realising that crypto and the blockchain know-how underpinning it may possibly open up alternatives for workers across the globe. Nevertheless, cryptocurrencies are a risky asset class and guaranteeing you perceive the way to maintain, retailer, swap and promote the crypto you obtain as your wage is essential. You will need to take into account your funding technique when opting to earn or buy crypto, and all the time do your analysis!

You can even use useful instruments to calculate your crypto taxes – which may prevent priceless time by reconciling all of your holdings and producing a tax report compliant together with your tax workplace in minutes.

Proceed studying on BTC Friends

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Illegal Cryptocurrency Mixers Targeted: Operators Charged with Money Laundering – Regtechtimes

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6 hours ago

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January 11, 2025

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Illegal Cryptocurrency Mixers Targeted: Operators Charged with Money Laundering – Regtechtimes

A federal grand jury in Georgia recently indicted three Russian nationals for their involvement in running illegal cryptocurrency mixer services that helped criminals launder money. The indictment, announced on January 7, 2025, involves Roman Vitalyevich Ostapenko, Alexander Evgenievich Oleynik, and Anton Vyachslavovich Tarasov. These individuals are accused of operating two online services called Blender.io and Sinbad.io, which helped criminals hide the source of their illegal funds.

A cryptocurrency mixer is a tool used to mix cryptocurrencies like Bitcoin, making it harder for authorities to trace the origin of digital money. These services are attractive to criminals involved in activities such as ransomware attacks and fraud, as they allow them to send funds anonymously.

Ostapenko and Oleynik were arrested in December 2024, while Tarasov is still on the run. The three men face serious charges related to money laundering and operating unlicensed financial businesses. If convicted, they could face up to 20 years in prison for laundering money and up to five years for running an unlicensed business. The indictment follows the earlier shutdown of the Sinbad.io service after it was seized by law enforcement in 2023.

The Role of Blender.io and Sinbad.io

Blender.io and Sinbad.io were both cryptocurrency mixers, meaning they offered a way to send digital money anonymously. For a fee, these services allowed criminals to send their funds without revealing where the money came from. This feature made these mixers attractive to those who wanted to hide stolen funds or profits from illegal activities, such as ransomware attacks, fraud, and even theft of virtual currencies.

Extradited for Fraud: Do Kwon Faces Justice After $40B Crypto Crash

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Blender.io operated from 2018 to 2022 and was known for its promise of anonymity. It advertised a “No Logs Policy,” meaning it claimed to have no records of transactions. The site also reassured users that no personal details were needed to use the service. This allowed criminals to send and receive Bitcoin without leaving a trace of their identity.

After Blender.io was shut down in 2022, the defendants launched Sinbad.io, which offered similar services. This service continued until law enforcement authorities took it down in November 2023, marking a significant victory in the fight against cybercrime. The shutdowns of both services were the result of coordinated efforts by authorities from several countries, including the U.S., the Netherlands, Finland, and Australia.

Both Blender.io and Sinbad.io were not only used by ordinary criminals but were also linked to state-sponsored hacking groups. For instance, Blender.io was used by North Korean hackers to launder funds stolen through cyberattacks. Similarly, Sinbad.io had connections to cybercriminals who targeted businesses and individuals. These cryptocurrency mixers served as a vital tool in helping these criminals profit from their illegal activities, making it harder for authorities to trace the stolen money back to its original source.

Crypto-currency Scam Wipes Out $425,000 from Ohio Man’s Retirement Fund

International Cooperation in Combating Cybercrime

The investigation into Blender.io and Sinbad.io showcases the power of international cooperation in tackling cybercrime. The indictment was made possible by the joint efforts of law enforcement agencies from different countries, including the U.S. Department of Justice, the FBI, the Netherlands’ Financial Intelligence Service, and Finland’s National Bureau of Investigation. Their collaboration helped track down the operators of these illegal services and ultimately led to their takedown.

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In addition to the U.S. authorities, international agencies like the Australian Federal Police and Finland’s National Bureau of Investigation played key roles in the investigation. Their contributions were essential in identifying the people responsible for running these cryptocurrency mixers and disrupting their illegal activities.

The importance of international cooperation cannot be overstated. Cybercrime often crosses national borders, and without the efforts of multiple countries working together, it would be much harder to stop these crimes. The arrests of Ostapenko and Oleynik, along with the ongoing search for Tarasov, send a strong message to cybercriminals around the world: law enforcement agencies are committed to identifying and holding accountable those who operate illicit financial networks.

This case highlights how dangerous these cryptocurrency mixers can be in enabling serious criminal activities. By breaking down these networks, authorities are making it harder for criminals to profit from their wrongdoing, while also protecting public safety and national security.

To read the original order please visit DOJ website

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US Rep. Bryan Steil to chair House cryptocurrency subcommittee

Published

18 hours ago

on

January 10, 2025

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US Rep. Bryan Steil to chair House cryptocurrency subcommittee

A Wisconsin congressman will head the House Subcommittee on Digital Assets, Financial Technology, and Artificial Intelligence.

Bryan Steil, a Republican representing the 1st Congressional District in southeast Wisconsin, was appointed to the role Thursday.

His subcommittee’s jurisdiction includes things like mobile banking and non-fungible tokens, or NFTs. It’ll also be the first stop for legislation on cryptocurrency.

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Digital currencies have a murky federal regulatory status. That allowed President Joe Biden’s Securities and Exchange Commission Chair Gary Gensler to go after the crypto industry.

The industry responded by spending over $130 million in 2024’s election cycle through its PAC, Fairshake.

It spent $764,206 to independently help re-elect Steil, according to campaign finance database OpenSecrets.

In a statement, Steil said “technologies like financial apps, digital assets, and machine learning revolutionize our economy,” adding that he looks forward to continuing “to provide the rules of the road to move our economy into the future.”

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Steil was appointed to his new role by House Financial Services Chair French Hill, R-Arkansas. Hill’s top campaign contributors include the CEOs of the crypto exchange platform Coinbase and the Charles Schwab Corporation.

One of his legislative priorities has been a bill that would set up clearer, crypto-friendly federal financial regulations, which passed the House with bipartisan support in May. He called Steil “instrumental” in passing that bill, and in overturning an SEC rule requiring crypto exchanges to list their digital assets as liabilities on their balance sheets.

Now, the Janesville native will oversee hearings and votes on new crypto-related legislation.

Wisconsin Public Radio, © Copyright 2025, Board of Regents of the University of Wisconsin System and Wisconsin Educational Communications Board.

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Which Crypto To Buy Right Now? 10 Best Cryptocurrency Coins For 2025

Published

1 day ago

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January 10, 2025

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Which Crypto To Buy Right Now? 10 Best Cryptocurrency Coins For 2025

As Ripple’s XRP ongoing legal troubles continue to keep traders on edge, Polkadot (DOT), Ethereum (ETH), Ethena (ENA), and Cardano (ADA) remain steady. Meanwhile, Injective (INJ), Optimism (OP), Uniswap (UNI), and Tron (TRX) show mixed signals in trading activities. In the middle of all this, whispers of a new market disruptor are growing louder—JetBolt (JBOLT), making headlines with its blazing presale and zero-gas technology. With over 250 million JBOLT tokens already sold, JetBolt’s momentum is undeniable.

With everything from groundbreaking ecosystems to cross-chain powerhouses, the question remains: which crypto to buy right now? Would established crypto coins or rising blockchain superstars dominate 2025? Let’s explore why JetBolt, Polkadot, XRP, Ethereum, Ethena, Optimism, Injective, Uniswap, Cardano, and Tron are the 10 best cryptocurrency coins for 2025.

Which Crypto To Buy Right Now? A Quick List

  1. JetBolt (JBOLT): Surging new altcoin empowering gas-free transactions, AI intelligence and staking.
  2. Ethena (ENA): Redefining stablecoins with decentralized innovation.
  3. Optimism (OP): Scaling Ethereum with lightning-fast rollups.
  4. Injective (INJ): Unlocking limitless decentralized trading possibilities.
  5. Uniswap (UNI): Revolutionizing DeFi through seamless token swaps.

A Deep Dive Into the 10 Best Cryptocurrency Coins For 2025

  1. JetBolt (JBOLT)

JetBolt (JBOLT) is shaking up the crypto world, skyrocketing its way onto traders’ radar as one of the 10 best cryptocurrency coins for 2025 to buy right now. The buzz? Zero gas fees. JetBolt’s game-changing tech, built on the Skale Network, eliminates gas fees entirely, delivering lightning-fast, gas-free transactions that are already turning heads across the crypto space.

This revolutionary feature could also supercharge creativity. Developers can now launch and create dApps, SocialFi platforms, and blockchain gaming ventures without worrying about skyrocketing gas fees holding back innovation.

But that’s not all—JetBolt goes beyond just being another zero-gas token. With an AI-driven crypto tool delivering the latest crypto news and market data straight to its platform, JetBolt is showcasing how blockchain technology and artificial intelligence can go hand-in-hand to add a new functionality to crypto.

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Turning it up a notch, JetBolt’s easy-to-earn staking mechanism turns ordinary staking into an electrifying experience. With its sleek, user-friendly Web3 wallet, joining is as effortless as a few clicks. And the twist: staking isn’t just about locking in tokens—it’s about active participation. Engage within the ecosystem and stakers earn even more rewards.

Meanwhile, JetBolt’s presale numbers don’t lie. Over 250 million JBOLT tokens have already been scooped up, with whales diving in to secure their piece of this zero-gas action. In addition, JetBolt’s Alpha Boxes, an exclusive presale perk that boosts batch token purchases by up to 25%, have been flying off the shelves, creating a frenzy that shows no signs of slowing down.

In a world where high gas fees and slow transactions plague most blockchains, JetBolt delivers something truly revolutionary. With every cutting-edge feature thoughtfully designed to resonate with modern and future crypto users, JetBolt quietly sets the bar higher for what blockchain networks can deliver—blending innovation and ease of use into a whole new crypto experience.

Which Crypto To Buy Right Now? 10 Best Cryptocurrency Coins For 2025
  1. Polkadot (DOT)

Polkadot (DOT) has dropped over 5% in the past week to $6.71 amid $1.23 million in long liquidations. Despite the dip, its advanced parachain technology and expanding ecosystem position Polkadot as a key player in 2025’s multichain future, with crypto analysts targeting $20 soon.

  1. Ripple (XRP)

Ripple’s (XRP) price holds at $2.34 with a $134.48 billion market cap. Crypto analysts anticipate a $3 breakout, driven by Ripple’s renewed U.S. expansion amid regulatory optimism under Trump. Its focus on blockchain-based CBDC solutions positions XRP as a key player for 2025.

  1. Ethereum (ETH)

Ethereum (ETH) trades at $3,319.97 following a 10% drop after the Foundation’s 100 ETH sale. Key support stands at $3,061, with resistance at $3,500. Despite short-term bearish momentum, Ethereum’s dominance in DeFi, staking, and upcoming Danksharding upgrade makes it a top contender for 2025.

  1. Ethena (ENA)

Ethena (ENA) faces bearish momentum, trading at $0.9295 with a $2.81 billion market cap. The Death Cross and oversold RSI signal risks, though possible rebounds could push Ethena toward $1.01.

Meanwhile, Trump’s World Liberty Financial putting in millions in Ethena has fueled bullish sentiment, signaling growing institutional interest. This strategic move could boost ENA’s credibility and adoption, providing holders possible stability and long-term value.

X posts by Panos highlight Trump’s World Liberty Financial purchasing millions of dollars in Ethena (ENA)

In addition, its unique stablecoin protocol expansion strengthens Ethena’s DeFi appeal, further establishing it as one of the top picks for 2025.

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  1. Optimism (OP)

Optimism (OP) trades at $1.79 with a $2.41 billion market cap. Despite recent bearish sentiment, its Bedrock upgrade, reducing transaction costs by 40%, positions Optimism as a key Ethereum Layer 2 solution. Crypto analysts eye $2.20 resistance and possible $3.00 targets for OP.

  1. Injective (INJ)

Injective (INJ) is now priced at $21.18 with key support at $22 and resistance near $26. A breakout from its descending channel hints at possible bullish trajectories. Injective’s unique focus on decentralized derivatives trading and cross-chain liquidity positions it among 2025’s top cryptocurrencies.

  1. Uniswap (UNI)

Uniswap (UNI) struggles with a 0.33% daily dip, trading at $12.99 with a $7.8 billion market cap. Despite bearish trends, its innovative decentralized exchange model and Layer 2 scaling solutions could drive renewed interest, positioning UNI as a top 2025 contender.

  1. Cardano (ADA)

Cardano (ADA) now trades at $0.9286 with a $32.67 billion market cap. Crypto analysts predict a price range of $1.50 to $2.50 in 2025, depending on key support levels and market sentiment. Cardano’s Hydra upgrade pledges scalability, boosting adoption across decentralized applications.

  1. Tron (TRX)

Tron (TRX) is holding just a little above key support at $0.245, currently pinned at $0.2463. A possible breakout above $0.2700 could push TRX’s prices toward $0.40. Recent partnerships and its ISO 20022 integration further position Tron as a top blockchain for institutional adoption.

What is the best crypto to buy right now in 2025?

While nothing in crypto is ever guaranteed, JetBolt (JBOLT) stands out as one of the top choices for the best cryptocurrency coins to buy right now. With its zero-gas technology, crypto-earning staking model, and AI-powered functionality, JetBolt is leading the way in redefining user-friendly blockchain experiences. JetBolt’s ongoing presale success—with whales already snapping up over 250 million JBOLT tokens—also signals growing excitement around its ecosystem.

What are the 10 best cryptocurrency coins for 2025?

Based on recent price movements and market insights, here are the top 10 best cryptocurrency coins for 2025:

  • Ethereum (ETH)
  • Cardano (ADA)
  • JetBolt (JBOLT)
  • Tron (TRX)
  • Polkadot (DOT)
  • Ripple (XRP)
  • Uniswap (UNI)
  • Injective (INJ)
  • Optimism (OP)
  • Ethena (ENA)

This list of the best cryptocurrencies to buy right now for 2025 include coins with strong ecosystems, utility, and continued development.

In Summary: 10 Best Cryptocurrency Coins to Watch for 2025

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Major crypto names like Ethereum (ETH), Ripple’s XRP, Cardano (ADA), and Polkadot (DOT) remain dominant, but breaking news highlights JetBolt’s (JBOLT) presale success and groundbreaking innovations as whale activity surges. Meanwhile, Ethena (ENA), Optimism (OP), Injective (INJ), Uniswap (UNI), and Tron (TRX) also make the list with key developments and strong ecosystems driving interest. Whether through staking rewards, blockchain scalability, or decentralized applications, these cryptocurrency coins deliver unique propositions worth following closely in the coming months.

Explore JetBolt’s game-changing technology and seize the presale excitement by visiting:

JetBolt’s Official Website: https://jetbolt.io/

JetBolt on X: https://x.com/jetboltofficial

Please note that this write-up is not financial advice. Remember that all cryptocurrencies are volatile. Always do your research and consult experts before navigating the unpredictable world of digital assets. No future performance is ever guaranteed, so always exercise caution.

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