COINDESK DAILY: U.S. Treasury Issues Crypto Tax Regime for 2025; SEC Sues Consensys Over MetaMask Service
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 1 July 2024
⏱️ 2 minutes
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Summary
Host Jennifer Sanasie breaks down the news in the crypto industry from the U.S. Treasury releasing its tax regime for crypto to the SEC's lawsuit against Consensys.
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"CoinDesk Daily" host Jennifer Sanasie breaks down the biggest headlines in the crypto industry today, as the U.S. Treasury Department issued its long-awaited tax regime for cryptocurrency transactions. Plus, the U.S. SEC alleged MetaMask's Swaps and staking products violated federal securities laws in a lawsuit against Consensys. And, Sony's plan to restart crypto exchange, Whalefin.
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This episode was hosted by Jennifer Sanasie. “First Mover” is produced by Jennifer Sanasie and Melissa Montañez and edited by Victor Chen.
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Transcript
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| 0:51.3 | The US Treasury Department has issued its long-awaited tax regime for cryptocurrency transactions. |
| 0:57.2 | The rule released on Friday will go into effect starting in 2025. |
| 1:00.1 | The Internal Revenue Service will require crypto brokers to file 1099 forms like their traditional investment firm cousins, |
| 1:07.1 | but it set aside related rules for defy and unhosted wallets as it continues to study 44,000 |
| 1:12.8 | comments that were sent to the agency. The IRS won't call for reporting on most routine |
| 1:17.4 | stable coin sales and is putting a $600 annual threshold on NFT proceeds before they need to be |
| 1:23.1 | reported. The USSes sued consensus on Friday over its Metamask service, alleging that Metamask |
| 1:28.9 | acted as an unregistered securities broker and that its staking service violated securities laws. |
| 1:33.9 | The suit also targeted Ethereum staking service Lido and Rocket Pool. The third-party platforms |
| 1:39.0 | Metamask uses to power its staking feature. Consensus previously sued the SEC's seeking a court |
| 1:44.0 | order, declaring Ether to not be a security and to end the staking feature. Consensus previously sued the SEC's seeking a court order, |
| 1:44.4 | declaring Ether to not be a security and to end the SEC's investigation into the firm. |
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