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US Crypto Transactions Face New Tax Reporting Rules

US Crypto Transactions Face New Tax Reporting Rules

According to Cointelegraph, cryptocurrency transactions in the United States will soon be subject to third-party tax reporting requirements, marking a significant shift in regulatory oversight as digital asset valuations continue to rise. Starting in 2025, centralized crypto exchanges (CEXs) and other brokers will be required to report sales and exchanges of digital assets, including cryptocurrencies, as per the final regulation published by the US Internal Revenue Service (IRS). This move is intended to assist investors in filing accurate tax returns related to digital asset transactions and to address potential noncompliance issues within the digital currency sector, according to an IRS report issued in June 2024.

Some investors view this regulatory change as an overreach, potentially driving more users towards decentralized trading platforms. Anndy Lian, an author and intergovernmental blockchain expert, highlighted the risk of users migrating to decentralized platforms like Uniswap or PancakeSwap. Lian noted that this shift could create a paradox where the IRS’s efforts to increase tax revenue might inadvertently push users towards environments where tax enforcement is currently challenging. Reflecting the crypto industry’s backlash, the Blockchain Association filed a lawsuit against the IRS in December 2024, arguing that the rules are unconstitutional as they include decentralized exchanges (DEXs) under the ‘broker’ term, thereby extending data collection requirements to them.

While crypto transactions on decentralized finance (DeFi) protocols are currently difficult for tax authorities to trace due to the absence of central intermediaries, advancements in blockchain analytics could make DeFi transactions more traceable by 2027, according to Lian. He suggested that while decentralized systems pose challenges for tax enforcement now, future developments in blockchain analytics and regulatory measures could alter this landscape. To prevent a potential exodus of users, Lian emphasized the need for specialized tax brackets that consider the high volatility and significant retail participation in the crypto market, arguing that treating crypto gains the same as traditional capital gains may not always be equitable.

The rising valuations of cryptocurrencies have also attracted the attention of other jurisdictions. European retail investors should prepare for taxation following the implementation of the Markets in Crypto-Assets (MiCA) framework, as noted by Dmitrij Radin, founder of Zekret and chief technology officer of Fideum, a regulatory and blockchain infrastructure firm. Radin stated that retail users will be required to provide information and data, which will be scrutinized, leading to increased taxation for most Europeans. MiCA, the world’s first comprehensive regulatory crypto framework, went into full effect for crypto-asset service providers on December 30.

 

Source: https://www.binance.com/en/square/post/01-16-2025-us-crypto-transactions-face-new-tax-reporting-rules-19018556510562

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

www.anndy.com
j j j

Focusing on TBW peripheral activities: OKX Ventures held an invitation-only event “NIGHT OF THE FUTURE” to discuss new trends in Web3

Focusing on TBW peripheral activities: OKX Ventures held an invitation-only event “NIGHT OF THE FUTURE” to discuss new trends in Web3

Taipei Blockchain Week is bustling this week, gathering blockchain experts and pioneers from around the world to discuss the development trends of the next generation of the internet. On the evening of the 12th, an invitation-only event titled “NIGHT OF THE FUTURE” was co-hosted by OKX Ventures along with several internationally renowned Web3 projects and investment institutions such as SUI, Spacenation, Kronos Research, Orderly Network, Memecore, UXLink, Yei Finance, and Copex. The event featured keynote speeches and fireside chats, delving into the future development directions and trends of the cryptocurrency industry and Web3.

In addition to cutting-edge industry discussions, OKX Ventures also organized various fun activities on-site, showcasing the latest blockchain games from well-known GameFi international projects like Memefi and Spacenation for attendees to experience. A tech-themed opening dance and a fun food and drink menu were also prepared for guests to enjoy. The event attracted over 500 participants, making it the most attended invitation-only event on the first day of TBW.

During the event, OKX Ventures partner Jeff Ren emphasized in his opening speech “NOW and FUTURE of OKX Ventures” that the mission of OKX Ventures is to explore and invest in innovative blockchain projects globally, promoting sustainable development across the industry. As an investment institution deeply rooted in the blockchain industry for many years, we adhere to the strategy of “Innovation + Empowerment.” By integrating OKX’s core resources—including traffic support, trading services, public chain technology, and comprehensive technical support—we have built a complete resource ecosystem that provides comprehensive support to invested projects from early stages to critical development milestones. More importantly, OKX Ventures is not just a financial investor; we also play the dual roles of “discoverer” and “enabler.”

Mr. Jeff Ren, with nearly twenty years of investment experience, stated in his speech that since its establishment, we have invested in over 300 projects across various fields including Layer1, Layer2, DeFi, AI, and GameFi. The year 2024 is expected to be a year of gradual recovery for the blockchain industry, and OKX Ventures has completed over 80 investments this year, covering areas such as the Bitcoin ecosystem, AI, and DePIN (Decentralized Physical Infrastructure Networks). OKX Ventures will continue to allocate resources and capital to projects focused on blockchain infrastructure, GameFi, DeFi, NFTs, and more, to drive technological innovation and industry progress.

Ryan He, Head of Industry Sales at Space Nation, showcased the model and data of Space Nation games in his keynote speech “The Metaverse: A Journey Beyond Gaming,” discussing the future development of the gaming industry.

Vincent Liu, CIO of Kronos Research, discussed the evolving landscape of the cryptocurrency market and the important role of market makers in shaping its future in his keynote speech “Envisioning Crypto in 2025: The Role of Market Makers in Shaping the Future.” Vincent emphasized innovations such as decentralized order books and AI tools that are bridging the gap between centralized and decentralized systems. He also explored the growing collaboration between traditional finance and DeFi, which he believes paves the way for enhanced liquidity and efficiency in centralized models. As cryptocurrencies enter mainstream portfolios, clearer regulations and smarter infrastructure will create a fairer and more accessible market for everyone.

Additionally, Ran Yi, co-founder of Orderly Network, pointed out in his speech “DEXs 3.0: The CEX to DEX Transition” that there is still significant room for optimization in current Web3 trading. By combining the advantages of CEX and DEX to address existing pain points, user trading experiences can be significantly improved. As a cloud liquidity infrastructure project, Orderly Network focuses on integrating cross-chain derivatives liquidity, unifying orders from different chains into an on-chain order book, and creating a unified liquidity ecosystem across chains. This initiative not only effectively addresses the issue of fragmented liquidity across chains but also enhances trading efficiency, provides deeper liquidity pools, and significantly narrows trading spreads.

In the first fireside chat, DA Capital COO Tim Shen, CopeX co-founder Paul, and Alvin from Elite Trading Academy discussed the topic “How Can Communities Become a Strong Support for User Trading?” Tim Shen believes that a good trading community, as demonstrated by the DA Traders Alliance, provides different methods and tools for community users to learn based on their trading levels and experience. For beginners, timely insights from analysts are crucial; we utilize systematic tutorials to help newcomers avoid scams and correctly use cryptocurrency tools, supplemented by daily live broadcasts to build trust within the community and familiarize them with the cryptocurrency market. For community users with a foundational understanding, we provide market hot topics and project research filtered and observed by our investment research personnel, thereby eliminating information asymmetry in cryptocurrency.

CopeX co-founder Paul stated that professionalism is fundamental in building a community; KOLs must have a certain level of understanding of trading to lead users effectively. Education and interaction are also very important, as trading often involves a lot of downtime, making the process tedious and boring. Finding ways to make this process interesting and continuously providing content to users is a challenge for every community. Finally, tools are also very important; for example, CopeX can facilitate smoother trading for users, quickly obtain market information, and make it easier for KOLs and teams to manage communities while also generating additional income, which can be a significant incentive for users to join the community.

Alvin from Elite Trading Academy believes that a valuable trading community is centered around providing reliable information, professional guidance, and valuable discussions. In our Elite Trading Academy, leaders must have practical experience to provide accurate market analysis, helping users understand the essence of the market. The community should focus on learning, understanding user needs, and providing systematic content tailored to beginners or experienced investors. More importantly, the learning environment is a key factor influencing the community; given the fast-paced market changes, it should provide timely answers and perspectives to help users view the market correctly. I also believe that the core of managing a community lies in positioning and structural design; only with clear positioning can we attract the corresponding demographic.

The value of a community lies not just in providing information, but in establishing a complete knowledge system through good management strategies, structured learning, long-term practical exercises, and the integration of data and analytical tools, helping each user find their growth direction and making the community itself a long-term partner they can rely on.

The second fireside chat, hosted by Alex from Blocktempo, titled “What’s the Future of Gaming and Mini Apps,” discussed the future of GameFi and mini apps in the context of current popular Telegram discussions.

Anndy Lian from Memecore believes that in the past few years, many developers have tried to bring Web2 users into Web3 through gaming. He believes that MEME culture has untapped potential to accelerate this transition. Through MemeCore, our goal is to leverage the power of MEME to drive mass adoption, spark creativity, and expand the possibilities in the Web3 space. We aim not only to achieve product development but also to reimagine how people interact with blockchain networks.

CashCashBot founder “Sabi Ge” stated that MiniApps have already been validated in the Web2 market on platforms like WeChat and Douyin, and will soon be replicated on TG, LINE, TikTok, and other platforms. Mini-games previously seen on WeChat and Douyin will migrate to new platforms to capture new traffic and monetization opportunities. There are already professional studios developing Tap to Earn mini-games, which are just the initial, most basic steps. Interactive games, social mini-programs, and AI application mini-programs will definitely emerge in the future, all infused with Web3 value empowerment.

Darren from Space Nation delved into the future of MMORPGs and the role of virtual economies. He explained how Spacenation simplifies existing gaming models using blockchain technology rather than reinventing the wheel.

“We’re not inventing something new; we’re just simplifying what already works.”

He cited examples like “World of Warcraft,” where players have been trading assets and accounts for years. He believes that blockchain provides a more efficient and secure way to manage these transactions.

Darren also emphasized the importance of a strong in-game economy for the success of MMORPGs. He pointed out that many games fail due to economic collapse, leading to decreased player engagement.

As Bitcoin is expected to surpass $100,000 in 2024, more countries and industries are purchasing and storing Bitcoin, and research on international blockchain applications and payment tools is accelerating, showcasing the broad prospects of blockchain technology on a global scale.

 

Source: https://www.chaincatcher.com/en/article/2158286

 

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

www.anndy.com
j j j

Empowering Creators in Web3: Unlocking New Avenues for User Engagement – A Panel Discussion at Taipei Blockchain Week 2024

Empowering Creators in Web3: Unlocking New Avenues for User Engagement – A Panel Discussion at Taipei Blockchain Week 2024

This article summarizes a panel discussion from Taipei Blockchain Week on “Empowering Creators in Web3: Unlocking New Avenues For User Engagement.” Moderated by Anndy Lian, an intergovernmental blockchain expert. The panel featured Alex Casassovici (Founder of Azarus), Gemmy Wong (Crypto YouTuber, Gem Gem Crypto), and Giu Comia (KOL). The discussion centered around creator successes, Web3 user conversion, platform strategies, and advice for newcomers.

Community Building and User Acquisition:

Giu Comia highlighted the Philippines as a prime example of successful community building in Web3, emphasizing the popularity of video creation and the potential for large-scale user acquisition. He shared a success story of helping a Japanese project onboard 450,000 users in a short period during a bear market. Addressing concerns about lower investment levels from Southeast Asian users, Comia argued that mass adoption with smaller contributions from a large user base is preferable to a smaller group of high-value investors. He believes this approach fosters global adoption and simplifies compliance.

Leveraging Platform-Specific Strategies:

Gemmy Wong shared her success story of growing her YouTube channel by focusing on search engine optimization (SEO) and incorporating relevant keywords into her content. She advised smaller creators to focus on specific keywords to improve searchability and visibility. Wong also highlighted the importance of identifying the right platforms for engagement, noting that while she found success with individual direct messages (DMs), managing larger platforms like Discord proved challenging. She emphasized the value of targeted content that caters to specific search queries, citing examples like “top 5 projects to check out.”

Creating Engaging Experiences and Fostering Loyalty:

Alex Casassovici discussed Azarus’s success in creating engaging experiences through interactive livestreams and reward systems. He cited the example of a show that garnered 200,000 concurrent viewers, demonstrating the power of real-time engagement and incentivization. Casassovici emphasized the importance of providing value to both creators and viewers, enabling creators to monetize their content and viewers to earn rewards for their participation. He believes this creates a strong feedback loop that fosters loyalty and encourages further engagement.

Converting Web2 Users to Web3:

Anndy Lian agreed that converting Web2 users to Web3 requires the right product and approach. Comia stressed the importance of clear communication and relatable content, moving beyond complex concepts to showcase tangible benefits and real-world applications. Wong echoed this sentiment, emphasizing the need for a “buddy system” to guide newcomers through the onboarding process and address their concerns. She shared personal anecdotes of converting friends and family by patiently explaining the benefits and opportunities of Web3. All panelists agreed that relatability and trust are key factors in successful conversion. Comia added that focusing on the right projects and partners is crucial, as not all conversions are positive, and some can lead to negative experiences.

Platform Preferences and Strategies:

When asked about the best platform for Web3 engagement, Casassovici highlighted the importance of creating seamless experiences that integrate directly within existing platforms. He emphasized the need to avoid disrupting user flow and provide value within the context of the platform where users are already engaged. He mentioned Azarus’s focus on Twitch and YouTube as key platforms for their work. Wong and Comia both acknowledged the reach and virality of TikTok as a powerful tool for attracting new creators and users to the Web3 space.

Advice for New Creators:

The panelists offered valuable advice for aspiring Web3 creators. Comia encouraged newcomers to focus on consistent content creation, emphasizing the importance of showing up regularly and building a following over time. Wong advised creators to be patient and focus on research and learning, attending events and connecting with the community. Casassovici stressed the importance of authenticity and engagement, stating that success in Web3 is not solely about follower count but about creating meaningful interactions and building a strong community. Anndy highlighted the importance of genuine engagement over superficial metrics. He added that creators should focus on projects they believe in and avoid promoting projects solely for financial gain.

Key Takeaways:

  • Community is King: Building strong communities is essential for Web3 success.
  • Relatability and Trust: Converting Web2 users requires relatable content and building trust.
  • Platform Strategy: Choosing the right platform and integrating seamlessly is crucial.
  • Authentic Engagement: Genuine interaction trumps vanity metrics.
  • Patience and Persistence: Building a successful Web3 presence takes time and effort.

The panel discussion provided valuable insights into the evolving landscape of Web3 and the opportunities it presents for creators. By focusing on community building, user engagement, and platform-specific strategies, creators can unlock new avenues for growth and contribute to the mass adoption of Web3 technologies.

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

www.anndy.com
j j j