CTS

coinfeeds-bot

tldr; CatalX CTS Ltd., a Canadian crypto trading platform, has announced a security breach that resulted in the loss of client-held crypto assets. The breach may involve an employee. Following the incident, the Alberta Securities Commission issued a cease trade order against the company and Jae Ho Lee. CatalX has suspended all withdrawals and trading on the platform and is conducting an investigation with the assistance of Deloitte LLP. Updates will be provided following the investigation's conclusion. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

GuyWithNoEffingClue

50 CTS 🤩

dubious_alliance

Do you still remember what those acronyms mean? AA - Auto Answer OH - Off Hook DTR - Data Transfer Ready DSR - Data Set Ready CTS - Clear To Send TXD - Transmitting Data RXD - Receiving Data CORR - Correction on CMPR - Compression on FAX - obviously FAX.

BestDogeGrafy32

>If you care about filing taxes, do yourself a favor and stick to a single exchange. You will thank me later next tax year. Every trade you make is a taxable event; You might get sing up bonus here and there and trade/transfer some meme coins between wallets, but every single activity you perform with your crypto makes your taxes more complicated and more expensive to file. In fact, depending on how much you made, you might find yourself spending all your winnings to pay different 3rd parties to help you to file taxes properly. I agree with the "if you want to keep it simple stick to one exchange" bit; however, a few things to keep in mind: when you ***dispose*** of crypto, that creates the taxable event. Think *spend, swap, sell, or donate*, transferring between your own wallets, normally, doesn't create a taxable event. Mind you, one thing that a lot of people forget is that if you pay any gas fees in crypto that also creates a taxable event, paying gas fees in fiat generally doesn't. If you stick to one CEX then you should be able to use your CEX's tax partner to file your crypto taxes, for free in many instances. If you have more than one exchange, blockchain or wallet then have a look at the crypto tax calculators that are out there. Many are free to use up to a certain amount of transactions, or until you actually need the tax report. Use one of the more reputable/trusted softwares. Doing your homework when it comes to CTS will save you a lot of time and hassle further down the line (big fan of Koinly myself). If you have made a decent amount in fiat from crypto then consider speaking with a tax professional, a CPA that hodls crypto is **essential**. Finally, if you are of the belief that you can avoid paying any taxes due, then please think again. Tax agencies around the world are in desperate need of your hard earned profits to continue lining their own pockets and they will get their hands on it if they can. Yes, the IRS has a vast number of new agents in training, and yes, they allegedly will only be going after those with over $400k of income, but please keep in mind that they will be basing their figures off of **total trades** made. That means that you may only have $1040 worth of actual profits, but in actual fact you were trading on a daily/weekly basis and accumulated well in excess of 50 trades in the financial year e.g. you purchase $10k worth of btc every week of the year and dispose of that same btc x amount of time later in the year for a profit of $20 on each occasion (52x$20=$1040). What the IRS will see is the 52x$10k=$520k and that puts you into their acceptable range for investigation. Be careful, be smart and don't be walking blindly into their trap. They are not here to help you. They want as much of what you have as possible. Remember, you'll own nothing and be happy! You already own btc/crypto, and that means, more than likely, you're not a big fan of what your government does anyway. Therefore, you are a danger to them and they want to eliminate that danger. In jail you lose your vote and we need you outside with the rest of us when the time comes. Don't be a low hanging fruit, ripe for picking! Not financial advice, just my thoughts.