Canada Adopts International Crypto Tax Reporting Standard
Canada is aimed at having the OECD standard for crypto asset tax reporting in place by 2027, as agreed with 46 countries.
Music video director Joseph Kahn has labelled trading cryptocurrencies as his new “hobby”, boasting his profits in a recent tweet.
I’ve been day trading cryptocurrency this past month as a hobby. Literally just making $2 to $3 profits at a time. I’m up $450.
— Joseph Kahn (@JosephKahn) May 31, 2020
The director, who has worked with names like Eminem, Lady Gaga, Britney Spears, and 50 Cent, claims to have profited over $450 USD in the past month through cryptocurrency trading Showing a snapshot, the Twitter thread shows Kahn’s cryptocurrency portfolio at a $7949.00 USD price valuation.
I don’t really invest in crypto but I put in $7500 so I’m up 6% in a month. I’m mostly cashed out right now with orders to buy bitcoin and ethereum on a downswing. pic.twitter.com/qmYdXYNtZ3
— Joseph Kahn (@JosephKahn) May 31, 2020
His holdings in his wallet show his profile boasting US dollars, Bitcoin, Ethereum, and Litecoin. He states that he has gained 6% over the most month, with “orders to buy Bitcoin and Ethereum on a downswing.” He added that he would be open to anyone if they have any “ideas on crypto“.
Kahn’s Big Names In Cryptocurrency Trading
Among the celebrities Kahn has worked with, several have been associated with cryptocurrency and trading. Last year, a malicious mining bot MyKings targeted images of Taylor Swift to cryptojack users to mine Monero (XMR). According to the report, nearly $3 million USD worth of Monero was mined illicitly through the Windows systems of vulnerable users.
50 Cent’s Animal Ambition
In 2014, it was reported that 50 Cent was accepting Bitcoin as payment for his studio album ‘Animal Ambition’. At the time of release, the album would have raked in anywhere around $462,000 USD. In 2018, the figure was rumoured to stand at a far loftier estimated sum over to $7.5 million USD.
However, the rapper denounced the claim, saying that the reporting was false and confirmed that he had never owned Bitcoin.