Ripple CTO Differentiates Crypto Staking from Traditional Income Amid IRS Tax Ruling

Quick Summary:

Commenting under a tweet regarding the IRS’s decision that crypto staking is taxable, Schwartz distinguished staking from traditional income amid community debate.

Ripple CTO David Schwartz has weighed in on the growing debate over crypto staking and taxation following the U.S.

Internal Revenue Service (IRS) ruling that staking rewards are taxable upon receipt.

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Article Details

Author / Journalist: Abdulkarim Abdulwahab

Category: Crypto

Markets: India

Topics: Market News Market XRP News Crypto Tax Ripple News

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-25 @ 10:10:00 (22 hours ago)

News Timezone: GMT +0:00

News Source URL: coinedition.com

Language: English

Article Length: 127 words

Reading Time: 1 minutes read

Sentences: 50 lines

Sentence Length: 3 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Coinedition

News ID: 24658664

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About Coinedition

Main Topics: Crypto

Official Website: coinedition.com

Update Frequency: 8 posts per day

Year Established: 2020

Headquarters: India

News Last Updated: 18 hours ago

Coverage Areas: India

Publication Timezone: GMT +0:00

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News Language: English

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Publisher ID: #124

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