Square Cash App had $875 Million in BITCOIN Sales in Q2 2020 & CRYPTO Staking IRS Tax
August 5, 2020
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11:10Now PlayingSquare Cash App had $875 Million in BITCOIN Sales in Q2 2020 & CRYPTO Staking IRS Tax
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as posted by the channelBitcoin 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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#Bitcoin #Crypto #Staking #BTC #Cryptocurrency #Tax #IRS
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