News for hackers. Stuff that matters.

A comment on U.S. Secret Service Launches Cryptocurrency Awareness Hub.

Re:U.S. Secret Service Launches Cryptocurrency Awareness Hub by mercy_dude on Wednesday February 23, 2022 @06:55AM (#30440126)
Curious isnt the role of the secret service to protect the president and other elected officials/representatives? Why are they charged with launching crypto currency awareness? It almost feels like the executive branch is pushing for cryptocurrency crackdown through sketchy agencies.
[ Parent | on HN ]
Re:U.S. Secret Service Launches Cryptocurrency Awareness Hub by mjburgess on Wednesday February 23, 2022 @06:59AM (#30440143)
Until 2003, the Secret Service was part of the Department of the Treasury, as the agency was founded in 1865 to combat the then-widespread counterfeiting of U.S. currency.

-- https://en.wikipedia.org/wiki/United_States_Secret_Service

[ Parent | on HN ]
Re:U.S. Secret Service Launches Cryptocurrency Awareness Hub by hasmanean on Wednesday February 23, 2022 @07:52AM (#30440426)
Maybe they also protect the president but they are really there to protect the currency—from the president.
[ Parent | on HN ]
Re:U.S. Secret Service Launches Cryptocurrency Awareness Hub by toastal on Wednesday February 23, 2022 @07:26AM (#30440292)
Will this mean we can treat cryptocurrencies like fiat currencies when tax season comes?
[ Parent | on HN ]
Re:U.S. Secret Service Launches Cryptocurrency Awareness Hub by imglorp on Wednesday February 23, 2022 @07:36AM (#30440342)
They are treated as commodities for tax purposes: when you sell them or use them to buy something, there is a tax consequence because you saw a gain or loss.

https://www.irs.gov/businesses/small-businesses-self-employe...

[ Parent | on HN ]
Re:U.S. Secret Service Launches Cryptocurrency Awareness Hub by mjburgess on Wednesday February 23, 2022 @07:30AM (#30440316)
cryptocurrencies arent currencies, so i'd guess not
[ Parent | on HN ]
Re:U.S. Secret Service Launches Cryptocurrency Awareness Hub by UncleMeat on Wednesday February 23, 2022 @08:16AM (#30440614)
No. The IRS doesn't operate on "well it seems like these are the same thing."

And further, you have to pay capital gains on forex transactions anyway.

[ Parent | on HN ]
Re:U.S. Secret Service Launches Cryptocurrency Awareness Hub by koenneker on Wednesday February 23, 2022 @07:00AM (#30440147)
They were founded to investigate currency fraud and forgery and even were under the Treasury Department until 2003. I'm think that this fits in as a modern continuation of that role as there are some fraudulent activities going on in the crypto space.
[ Parent | on HN ]
Re:U.S. Secret Service Launches Cryptocurrency Awareness Hub by azernik on Wednesday February 23, 2022 @07:56AM (#30440460)
For historical reasons, the Secret Service does both VIP protection and prevention of financial fraud.

They were originally the Treasury Department's enforcement arm. After Lincoln's assassination, the federal government realized it needed bodyguards, and the Treasury Department police were the only federal civilian police force that existed at the time.

[ Parent | on HN ]