IRS sends more tax warnings to cryptocurrency owners
 
 
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World's largest dark-net market vanishes
Users across the world are fuming after an apparent ‘exit scam’ perpetrated by the administrators of Empire. With 8 major sites having exit scammed in 2019, Empire had been considered the largest and most trusted darknet market in operation.  

The marketplace has been offline since August 22nd, and it remains to be seen whether any of the estimated $30 million missing from the platform will ever be returned.
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IRS sends tax warnings to cryptocurrency owners
Several tax service providers revealed on Tuesday that their clients had received warning letters similar to those that were sent to some 10,000 cryptocurrency owners last year.

The letter advises cryptocurrency owners that if they had not accurately reported cryptocurrency transactions, they should file amended returns or face civil and criminal proceedings.
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Hyperinflation and currency concerns in Zambia
Zambian President Edgar Lungu fired the country's central bank governor last week sparking fears that his government wants to end the institution's independence.

Before his termination, the governor had “repeatedly urged the government to cut the fiscal deficit amid ballooning debt and falling foreign-exchange reserves.”  Since the start of the year, the Zambian Kwacha has depreciated by more than 25% compared to the US dollar.
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Coinbit seized over $84 million in alleged fake trades
Police in South Korea raided and seized the offices of Coinbit, the country's third-largest crypto exchange, over allegations it faked 99% of its trading volume.

Police accuse the exchange’s owner Choi Mo and other managers of “wash trading”, alledging that the company has embezzled up to 100 Billion won, or $84 million USD.
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SEC’s new accredited investor definition
The new, broader definition will open up many cryptocurrency investments previously available only to high-net-worth individuals and institutional investors to more buyers.

The amendments “add a new category to the definition that permits natural persons to qualify as accredited investors based on certain professional certifications, designations or credentials or other credentials issued by an accredited educational institution".
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