Fed’s crypto crackdown: save some of those epic gains for tax

·1-min read

As President Joe Biden announces capital gains reforms, the Treasury’s flagging concerns that wealthy people could use the largely unregulated cryptocurrency sector to avoid tax, and say they want big crypto asset transfers reported to authorities.

US Federal Reserve chief Jerome Powell is turning up the heat on cryptocurrencies, saying they pose risks to financial stability.

This week Bitcoin took a wild ride falling as much as 30 per cent after China announced new curbs on the sector, underscoring the volatility of the sector.

Apple boss Tim Cook is to appear for the first time in a federal court on Friday in the latest chapter of the high-profile lawsuit with the company behind the Fortnite video game.

Epic Games accuses Apple of exercising a monopoly over its iOS iPhone software after Fortnite was removed from the App Store over claims the game broke digital payments rules.

The boss of MI5 has accused Facebook of giving what he called a “free pass” to terrorists with its plans for end-to-end encryption on Messenger and Instagram.

Ken McCallum said the plans by chief executive Mark Zuckerberg would enable terrorists to plot attacks without being visible to the security services.

Astronauts and space ships may soon have a Moon navigation and telecoms service, we celebrate the 150th anniversary of the Institution of Engineering and Technology with some insight into the crucial building block for consumer tech: AC power; WeWork have had a $2 billion dollar hit on the stock market due to Covid-19, and, Internet Explorer is gone FOREVER!

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