Bitcoin

Bitcoin Daily: TaxToken Takes On Crypto Taxes, ‘Bitcoin Baby’ Parents Ask For College Donations

bitcoin-cryptopia-taxtoken-crypto-tax

Cryptopia, a digital currency exchange based out of New Zealand, has experienced what has been described by the company as a “security breach,” Coindesk reported. On Twitter, the company said that it had “suffered a security breach which resulted in significant losses” and called the authorities, which are “investigating the matter.” As the breach is investigated, the company said that the site will be in maintenance mode and trading will stay halted. The exchange’s website said, as of 7:10 p.m. on Tuesday (January 15), “Cryptopia is currently in unscheduled maintenance mode. We will be back.”

In other news, parents of a newborn have taken an untraditional approach to raising money for college: The couple made a newspaper advertisement asking for donations in cryptocurrency, Bitconist reported. In the advertisement, which is titled “Bitcoin Baby,” the parents list the baby’s name and her brother’s name, among information. The ad also contains a bitcoin address so that people can send the popular cryptocurrency toward her college fund. According to the outlet, January 10 was the date of the first transaction. And, after four days, the address has reportedly added just over one bitcoin (BTC).  The price of bitcoin was $3,569.95 as of 7:20 p.m. on Tuesday (January 15), according to Coindesk.

And blockchain-as-a-service (BaaS) company TaxToken has come to market to tackle crypto taxes, according to an announcement from the company. To help users automate the digital currency tax filing process, the company says it taps into artificial intelligence (AI) and blockchain technology. The company also has enterprise offerings for crypto wallets, high-frequency trading firms, digital currency exchanges and CPA firms. TaxToken Co-Founder and CFO Nathan Nichols said in the announcement, “TaxToken is humbled and excited to officially launch our cryptocurrency accounting software and play our role in developing the blockchain ecosystem.”

 

 

——————————–

Featured PYMNTS Study: 

With eyes on lowering costs to improving cash flow, 85 percent of U.S. firms plan to make real-time payments integral to their operations within three years. However, some firms still feel technical barriers stand in the way. In the January 2020 Making Real-Time Payments A Reality Study, PYMNTS surveyed more than 500 financial executives to examine what it will take to channel RTP interest into real-world adoption. Here’s what we learned.

TRENDING RIGHT NOW