The new tool helps users access tax details aligning with their crypto activity to help report information during the upcoming tax season. For many countries, the tax season is right…
Continue ReadingReporting cryptocurrency when filing taxes can help investors offset their losses. 2022 was tough for the crypto market. A recent report published by security services platform Immunefi found that the…
Continue ReadingWhile operations with digital assets are not taxed in Uzbekistan, the government is receiving a growing amount of revenues from the industry. The increase in budget receipts has been attributed…
Continue ReadingFiling crypto taxes can be complex, especially for those exploring the decentralized finance world. Here’s what to keep in mind. Filing taxes for cryptocurrency can be a confusing and daunting…
Continue ReadingExperts opine that the Indian government needs more data and time to decide on rigid tax policies, given it has been only ten months since the tax laws were introduced…
Continue ReadingThe IRS’s recommendation to check “Yes” boils down to receiving, earning, transferring or selling cryptocurrencies for any monetary benefit, including mining and staking. With the deadline approaching for filing the…
Continue ReadingShould the bill pass the legislature, Arizona voters could choose whether virtual currency is tax exempt as part of a November 2024 ballot measure. Lawmakers in the Arizona State Senate…
Continue ReadingTFL claimed that the airdrop receiver refused to return the funds, while the user claimed that he was on the verge of settlement with the firm when the former decided…
Continue ReadingAuthorities in Romania have conducted more than a dozen raids against people suspected of hiding income from cryptocurrency operations. The searches took place in late 2022 following an earlier investigation…
Continue ReadingSince the beginning of 2023, cryptocurrency miners operating in Kazakhstan are obliged to pay new fees for the power they need to mint digital coins. A surcharge introduced in 2021…
Continue ReadingECB board member Fabio Panetta has woven his enthusiasm for blockchain technology and skepticism of cryptocurrency into an argument that supports both, albeit begrudgingly. European Central Bank (ECB) executive board…
Continue ReadingThe Italian Senate approved the new tax rate for crypto trading as part of the budget legislation for 2023. On Dec. 29, 2022, days before the year’s end, Italy’s Senate…
Continue ReadingThe Italian Parliament has introduced a 26% capital tax on cryptocurrency gains as part of the 2023 budget law, which was approved on Dec. 29. The document also offers incentives…
Continue ReadingA bail was granted to SBF on the conditions of a $250 million bond, home detention, location monitoring and the surrender of his passport. Former FTX CEO Sam Bankman-Fried landed…
Continue ReadingThe enforcement of a requirement for brokers to report gains made by crypto investors has been postponed by the U.S. Treasury Department and the IRS. The new tax rules, incorporated…
Continue ReadingWill your losses to FTX be classified as capital losses or as a “theft loss” that involved a Ponzi scheme? Either way, you’ll probably win. FTX founder Sam Bankman-Fried has…
Continue ReadingThe European Commission has set out to oblige platforms processing crypto transactions for EU residents to share information with tax authorities in the Union. According to the proposal, all crypto…
Continue ReadingPotentially, even companies outside of Europe could be forced to disclose user holdings according to the EU. The European Union indicated Thursday that it will make cryptocurrency companies report their…
Continue ReadingThe government of Argentina has signed a data sharing agreement with the U.S. to enhance the cooperation of the countries in the tax arena. The agreement, which was signed by…
Continue ReadingThrough Bitcoin payment processors like BitPay, businesses in the UK can offer BTC as a payment method during checkout. What are the pros and cons of accepting Bitcoin payments? Accepting…
Continue ReadingA Nigerian finance bill, which seeks to amend the country’s various tax statutes, contains provisions which allow the government to tax cryptocurrency and other digital asset transactions, a report has…
Continue ReadingThe new government of Italy plans to impose a 26% tax on capital gains from crypto trading, according to the draft budget for next year. The center-right coalition in power…
Continue ReadingThe country’s first effort at crypto regulation amends the country’s Capital Markets Law to define crypto as a security and establish reporting, tax and other requirements. An amendment was introduced…
Continue ReadingA special council under Ukraine’s securities regulator will be tasked to develop rules for crypto taxation in the country. The new body will be also responsible for coordinating the regulation…
Continue ReadingThe European Commission is preparing to discuss with member states the adoption of a common tax regime for crypto assets, European officials have indicated. The talks with national treasuries are…
Continue ReadingThe Central Bank of Russia is proposing to introduce tax incentives for long-term holders of digital financial assets. The idea has been circulated with a consultation paper published for public…
Continue ReadingThe Internal Revenue Service (IRS) is building “hundreds” of crypto cases to crack down on tax evasion, an official reportedly said. In the fiscal year 2022, the IRS Criminal Investigation…
Continue ReadingThe criminal investigation division of the IRS says it is preparing hundreds of crypto-related cases for the upcoming tax season. The United States Internal Revenue Service (IRS) criminal investigation division…
Continue ReadingIndia’s tax authority has reportedly asked major cryptocurrency exchanges in the country to provide information pertaining to the coins traded on their platforms. The tax authority is also evaluating the…
Continue ReadingThe Internal Revenue Service (IRS) has updated the crypto section in the 2022 draft instructions for tax form 1040. “For example, digital assets include non-fungible tokens (NFTs) and virtual currencies,…
Continue ReadingEthereum‘s Merge resulted in a Proof-of-Work airdrop. That means you could be on the hook for tokens you didn’t even want. Ethereum’s Merge dominated the crypto world in September with…
Continue ReadingThe city of Curitiba, in Brazil, is now studying the possibility of accepting cryptocurrency payments for taxes. Noemia Rocha, a city councilor for Curitiba, presented this project to the executive…
Continue ReadingCryptocurrency miners in Kazakhstan are to be required to convert up to three quarters of their income on locally registered exchanges, according to a new bill that’s advancing in the…
Continue ReadingThe city will allow taxpayers to make crypto payments through third-party service providers. The city of Rio de Janeiro is seeking crypto firms to operate its tax property seasoning in…
Continue ReadingAuthorities in Portugal intend to impose a levy on gains from short-term crypto investments with the state budget for next year. The document, which still needs the approval of Portuguese…
Continue ReadingThe OECD said it planned to present the Crypto-Asset Reporting Framework to a meeting of G20 finance ministers and central bank governors on Oct. 12-13. The Organisation for Economic Cooperation…
Continue ReadingMembers of the European Parliament have called for “effective taxation” of crypto assets and “better use of blockchain” to counteract tax evasion. A resolution aiming to achieve both objectives has…
Continue ReadingColorado is now accepting crypto for tax payments — but if you choose to use that option, it could change the amount you owe. Colorado is accepting crypto as payment…
Continue Reading“We are in a completely different situation in the power market now than when the reduced rate for data centers was introduced in 2016,” said Norway’s finance minister. Trygve Slagsvold…
Continue ReadingThe resolution recommended authorities in the parliament’s 27 member states consider a “simplified tax treatment” for crypto users involved in occasional or small transactions. Members of the parliament of the…
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