Low freedom countries attract Bitcoin, world will need gold when system collapses and IRS asks about crypto in new US tax form
Here is your daily overview of important, interesting and market moving crypto news.
Countries with low freedom attract Bitcoin
Analysis of LocalBitcoins data shows that Bitcoin has high rates of usage in countries with low economic freedom, supporting the argument that BTC is sound, unstoppable money.
The World Will Need Gold if Entire System Collapses
The Dutch Central Bank, said gold would be indispensable in the event of a fiat meltdown.
As a form of sound money with the highest stock-to-flow ratio of any commodity, gold previously ensured the sound functioning of economies before governments uncoupled their national currencies from its backing over the last century.
IRS Asks About Crypto In New US Tax Form
The Internal Revenue Service has updated the main form individual U.S. taxpayers use to report their income by including a question about cryptocurrencies.
The sheet asks at the top:
“At any time during 2019, did you receive, sell, send, exchange, or otherwise acquire any financial interest in any virtual currency?”
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