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Bitcoin Association acting as Observer in Japan Mt. Gox hearings

Currently the Mt.Gox bankruptcy proceedings are about to enter the “liquidation” phase. This means that after some due diligence the Japanese trustees may sell off the remaining assets of Mt. Gox and use those proceeds to reimburse creditors and customers in an order that the trustees determine. This would most likely result in an outright sale of the remaining 200,000 Bitcoin held at Mt. Gox. One of the Bitcoin Association’s key concerns regarding

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Letter to Senator Manchin regarding Bitcoin

United States Senator Joe Manchin US Senate Washington DC Dear Senator Manchin: I am a member of The Bitcoin Association, an industry group focused on Bitcoin and related technologies. Thank you for taking the time to express your concerns regarding Bitcoin. Bitcoin and crypto-currencies in general represent a new, but exciting technology. We are encouraged and applaud anyone's pro-active attempt to understand this new technology in their role as

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Statement on Mt. Gox

Many people are asking about Bitcoin in light of the recent problems with the exchange Mt. Gox. In any new and potentially transformative and disruptive technology, wild swings are likely, volatility is likely and painful bumps in the road are likely. Basically what happened is that a poorly managed Bitcoin exchange has been run into the ground and it seems likely a lot of people may lose money. This is sad and unfortunate. It does not at all change

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Why are Banks closing Bitcoin Related accounts?

There have been posts about the Chase and Bank of America accounts closed for Bitcoin related activities and ties with Bitstamp or Coinbase. The underlying speculation is that senior bank management sat in a board room and said "Hmm, this Bitcoin thing is a threat, instruct the minions to squash it." Similar to the speculation about Apple and Bitcoin related apps. The truth is that this is very unlikely. The CEOs and other Senior management at banks

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Bitcoin Taxation Part 7 – Foreign Account Reporting Requirements

This is Part Six in a Seven Part Series Covering Taxation of Bitcoin for US Citizens Written by Tyson Cross a Tax Attorney based in San Diego Part One - Tax Realization of Bitcoin Gains Part Two - Tax Recognition of Bitcoin Gains Part Three-  Tax Character of Bitcoin Gains Part Four - Tax Losses and Bitcoin Part Five- Tax Deductions Related to Bitcoin Part Six-  Tax Record Keeping related to Bitcoin Part Seven- Bitcoin Foreign Account Reporting

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Bitcoin Taxation Part 6 – Tax Record Keeping related to Bitcoin

This is Part Six in a Seven Part Series Covering Taxation of Bitcoin for US Citizens Written by Tyson Cross a Tax Attorney based in San Diego Part One - Tax Realization of Bitcoin Gains Part Two - Tax Recognition of Bitcoin Gains Part Three-  Tax Character of Bitcoin Gains Part Four - Tax Losses and Bitcoin Part Five- Tax Deductions Related to Bitcoin Part Six-  Tax Record Keeping related to Bitcoin You are Here Part Seven- Bitcoin Foreign Account

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Bitcoin Taxation Part 5 – Tax Deductions related to Bitcoin

This is Part Five in a Seven Part Series Covering Taxation of Bitcoin for US Citizens Written by Tyson Cross a Tax Attorney based in San Diego Part One - Tax Realization of Bitcoin Gains Part Two - Tax Recognition of Bitcoin Gains Part Three-  Tax Character of Bitcoin Gains Part Four - Tax Losses and Bitcoin Part Five- Tax Deductions Related to Bitcoin You are Here Part Six-  Tax Record Keeping related to Bitcoin Part Seven- Bitcoin Foreign Account

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