Square Cash App had $875 Million in BITCOIN Sales in Q2 2020 & CRYPTO Staking IRS Tax

Bitcoin sales surge as Square said Tuesday that it made $875 million in BTC revenue via its Cash App service during the second quarter of 2020. Furthermore Square posted $17 million in gross profit. Crypto holders earning new tokens by staking their coins might be at risk of being overtaxed, believe several members of Congress who are part of the Congressional Blockchain Caucus’ co-chairs Reps. David Schweikert (R-Ariz.), Bill Foster (D-Ill.), Tom Emmer (R-Minn.) and Darren Soto (D-Fla.).

INX Scales Down US IPO Target to $117M – Still Set to Be Crypto’s Largest. Barry Silbert tweets "Anxiously waiting for Robinhood App to allow their customers to invest in the Grayscale family of crypto funds."

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Disclaimer - Thinking Crypto and Tony are not financial or investment experts. You should do your own research on each cryptocurrency and make your own conclusions and decisions for investment. Invest at your own risk, only invest what you are willing to lose. This channel and its videos are just for educational purposes and NOT investment or financial advice.