Coinbase Twitter tweeted a link to the article titled “The crypto guide to taxes” in the last days of March 2022. 

The tweet came a few weeks to tax season 2022 in the United States of America, and with the deadline for submitting personal gains to the Internal Revenue Service (IRS) fast approaching.

Coinbase tweets towards the end of March were on blockchain analytics, promotions for new accounts, and advanced trading on the cryptocurrency exchange. 

For Coinbase Twitter news to focus on crypto taxes means representatives of the platform continue to get messages from account holders on what activities constitute paying cryptocurrency taxes.

## Coinbase Twitter Reminder

Coinbase users have a cause to worry about Coinbase taxes. This is the primary reason why it is not surprising to find millions of verified Coinbase users asking the question of which crypto transactions are taxable? 

According to Coinbase, numerous kinds of crypto transactions are considered taxable events. Several crypto activities are taxable, but some of them are not. 

When you sell and convert crypto, you should know that you must pay crypto capital gains tax.

With that said, activities such as mining and holding digital collectibles in the form of non-fungible tokens (NFTs) and buying and holding crypto are non-taxable events.

Therefore, if you know that you have staked, spent, converted, sold, and earned crypto, you should prepare to pay taxes on cryptocurrency gains.
Taxes on personal income come in different rates and brackets, and the cryptocurrency tax is the same. Cryptocurrency tax rates fall under ordinary income or capital gains.

The rate of token tax depends on factors such as the method of obtaining the crypto and the duration you held onto the digital coins. 
IRS crypto taxes is similar to paying taxes on stocks. Therefore, you will pay relatively lower rates if you decide to HODL (hold onto your tokens for at least one year before selling them). 

You will pay taxes on crypto if you are involved in swapping tokens. A great example is trading crypto pairs such as BTC for ETH, ETH for ADA, ADA for BNB, and others. In the eyes of the IRS, swapping means you have sold your Bitcoin to buy Ethereum, Ethereum to buy Cardano, and Cardano to buy Binance Coin. In such a situation, you will realize gains or losses.

The same holds for spending. For example, you buy $20,000 worth of ETH and a price spike increases your investment by 300% to $80,000. You use your ETH to buy an automobile worth $80,000. You are then subject to paying capital gains tax on cryptocurrency.

The only way to avoid paying taxes on crypto is to use good old cash. Although it is not impossible, it would be difficult to find an exchange that accepts cash as a payment method in the current climate of crypto regulation. To put it simply, buying crypto with cash is not taxable, so you would not be having any IRS crypto problems once tax season takes center stage.

If you are a trader who transfers digital currencies between wallets such as Coinbase wallets (non-custodial wallet) and Coinbase Exchange accounts (custodial wallet), you are not subject to reporting detailed activities of such transfers.

Suppose you sent no more than $15,000-worth of crypto to friends and acquaintances. In that case, you are not eligible to file taxes on cryptocurrency.

Reporting your crypto activities and paying the necessary crypto trader tax is imperative.

The IRS has a zero-tolerance policy when it comes to paying taxes. Failure to adhere to crypto and taxes rules could lead to steep penalties. 
You can use CoinTracker (a trusted aggregator for tax services) to help you sort out your taxable crypto activities. 

Although Coinbase Twitter news has done its part in shedding more light on crypto and taxes, the onus falls on you, as a crypto user, to make arrangements for capital gains on cryptocurrency.

More [Business news](/news/category/crypto-business-news).



Coinbase Twitter Shares Crypto Tax Guide 

Twitter CEO, Jack Dorsey, has announced via Twitter that he is stepping down after almost 16 years.

In a [tweet](https://twitter.com/jack/status/1465347002426867720) from his personal Twitter account, Dorsey announced that he would be stepping down as CEO of Twitter and named former CTO, Parag Agrawal as the new CEO of Twitter, with immediate effect.

## New CEO Unanimously Appointed

Dorsey said in his announcement that he has decided it is time for him to leave, as the board of directors approved Agrawal and 'unanimously appointed' the new CEO. Dorsey also said that Bret Taylor has agreed to become the new Twitter board chair, which is another reason he will be stepping down, as he has confidence in Taylor to strengthen the board going forward.

Jack Dorsey is currently CEO of [Square](https://squareup.com/us/en), point-of-sale payments company that he founded before Twitter, and he will remain CEO of Square.

## Is Dorsey Focusing on Crypto?

Could this mean that Dorsey is focusing his efforts on the blockchain and cryptocurrency industry? He has previously [stated](https://twitter.com/jack/status/1424854924194729984) that bitcoin will eventually "unite the world" and become the world's 'single currency' in ten years.  

It is worth noting that Square's Cash App has added support for BTC trading, which indicates that he could be working on something bigger than his companies.

Jack Dorsey Steps Down as CEO of Twitter

Regulation of crypto is a major talking point right now, but Indian Prime Minister Narendra Modi’s comments on the subject have left some baffled.

Addressing the Sydney Dialogue, Modi made comments on [Bitcoin (BTC)](/coins/btc) and crypto regulation.

He said: ‘Democratic nations should work together on cryptocurrency to ensure it does not end up in the wrong hands.’

## Modi's Words on Twitter

Although it is unclear what the ‘wrong hands’ are, Modi’s words were considered important enough to be repeated on his [official Twitter feed](https://twitter.com/narendramodi).

His account tweeted: ‘Take cryptocurrency or Bitcoin for example. It is important that all democratic nations work together on this and ensure it does not end up in \[the\] wrong hands, which can spoil our youth.’

Also during the address Modi said: ‘We are at a historic moment of choice. Either all the wonderful powers of technology of our age will be instruments of cooperation or conflict, coercion or choice, domination or development.’

## Social Media Speculation

The comments sparked social media speculation that India may be on the verge of a China-style crackdown. Many, however, felt the comments meant little more than Modi supports responsible crypto regulation.

There is interest in India’s crypto stance, as the country is reported to be considering its own central bank digital currency (CBDC) project. This could arrive next year, although progress by the central Reserve Bank of India (RBI) has been considered slow.

A media report in India this week said the RBI is still examining ‘matching domestic priorities with design features’.

While limited trials of the proposed CBDC are pencilled for next month, a national rollout looks unlikely any time soon.

Despite the way some have interpreted Modi’s comments, India is thought unlikely to want to restrict crypto access in the way China has.

Do Modi's Comments Signal Crypto Shift in India?

It's time for Twitter Crypto... social media giant Twitter is creating a team dedicated to cryptocurrency and related tech, it has been announced.

Taking to the platform on Wednesday, [Tess Rinearson](https://twitter.com/_tessr) confirmed she has been appointed to lead the new team.

She said Twitter Crypto will explore future opportunities to support users with an interest in cryptocurrency and digital assets as it looks to ‘push the boundaries’.

## A New Team for Crypto

Rinearson, who has previously worked at Interstellar and Tendermint, tweeted: ‘I’m thrilled to share that I’ve joined Twitter, to lead a new team focused on crypto, blockchains, and other decentralized technologies—including and going beyond cryptocurrencies.

‘As I build out the team, we’ll be working to figure out what crypto can do for Twitter, as well as what Twitter can do for crypto. Twitter truly “gets” crypto (hello bitcoin tipping & NFTs!) but there’s so much more to explore here.

‘First, we’ll be exploring how we can support the growing interest among creators to use decentralised apps to manage virtual goods and currencies, and to support their work and communities.

‘Looking farther ahead, we’ll be exploring how ideas from crypto communities can help us push the boundaries of what’s possible with identity, community, ownership and more.

‘And, of course, we’ll be working closely with the @bluesky team to help shape the future of decentralized social media (and to make sure that Twitter stays on the cutting edge of this new landscape, too!).’

She concluded: ‘Twitter Crypto will underpin all of this work, and serve as a “center of excellence” for all things blockchain at Twitter. We’ll be hiring for roles in engineering and product. If this sounds exciting, please get in touch!’

## Jack Dorsey Influences Crypto Adoption

The Twitter Crypto move isn’t entirely a surprise, given founder Jack Dorsey’s public position on crypto. His firm Square Crypto made its first appointment back in 2019, former Google product management expert Steve Lee, for example.

In addition, Square last year bought $50m of BTC and, in July, it said it is trying to buld a hardware wallet.

Dorsey has already said Bitcoin will be a big part of his commercial future. Earlier this year, he confirmed he was putting money forward to help fund BTC development, both in a venture which also involved rapper Jay-Z and through the Massachusetts Institute of Technology (MIT).

Twitter Embraces Crypto with Dedicated Team

Despite advancements in the cryptocurrency industry, crypto trading is largely governed by fear of missing out (FOMO).

Investors tune in to the latest news and hype and attempt to maximise profits in as short a period as possible. I believe in investing keeping a long-term vision.

Here are some popular tips on steps you can make part of your investment strategy, and maybe reduce your fear of missing out.

### 1.     Follow eminent personalities and important crypto accounts on Twitter

If you are not on Twitter in this day and age, you are missing out. Before reading further, open the Twitter app, search for Elon Musk, follow him and turn on notifications! Whenever he posts in favour of Dogecoin, Shiba Inu, Bitcoin or Ethereum, expect crypto prices to rise.

Follow influential crypto personalities, accounts that track whale behaviour, the official accounts of crypto projects you favour, trustworthy crypto news accounts and relevant hashtags and topics. In fact, you should create a Twitter List to keep track of these accounts.

### 2.     Look out for new listings on exchanges

As soon as a new crypto token hits an exchange, more often than not its price skyrockets immediately, albeit for a short duration. Jump on the bandwagon but be careful, you could incur a heavy loss if you do not invest wisely and quickly – you should know when to move in and out!

### 3.     Learn to read between the lines

News that is not related to the crypto industry could have an indirect impact on the demand for a crypto asset. For example, Facebook’s rebranding to Meta saw the prices of Metaverse-related tokens like Decentraland (MANA) and Ethverse (ETHV) jump considerably.

Want to know more about cryptocurrency and blockchain? [Visit Learn Moni](/learn).

Crypto Blockchain Industries: What to Know

It looks like Elon Musk has done it again. A seemingly innocuous three-word tweet from the Tesla and SpaceX founder saw a spike in the value of little-known Floki.

Musk simply shared a picture of his new Shiba Inu puppy with the caption “Floki has arrived”. Sweet sentiment, but the tweet went viral and spikes in the value of cryptocurrency with similar names were soon recorded.

The biggest winner was Shiba Floki which saw a 958.09% surge within one day of the tweet, according to reports.

## Floki Token Increase

Floki Inu witnesses increases in excess of 59% in a 24-hour period. Others, including Floki Shiba and Super Floki, also saw value rises.

It is not the first time a tweet from Musk has apparently impacted on markets; comments around Dogecoin and Bitcoin have seen values change.

Dogecoin prices also seemed to be affected by the Floki tweet. Perhaps this is unsurprising as the tweet featured a picture of a Shiba Inu dog. Dogecoin gained by 0.36% following the latest post from Musk, while Baby Doge Coin saw a 24-hour surge of 45.3%

## Shiba Inu Rises

Previous tweets from Musk have had a similar impact on Floki-related cryptocurrencies. Last month, when he said he would name his new pet Floki, Shiba Inu saw a 16% price rise.



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