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Former congressman Ron Paul: Bitcoin is money and should be taxed the same
3.6.2021
Former congressman Ron Paul believes Bitcoin should be regulated and taxed the same as money
South Korean Presidential Candidate: Delay Crypto Tax Until 2023
1.6.2021
Source: Adobe/Андрей Яланский
As South Korea’s general elections draw ever nearer, the nation’s provincial governors appear to have grown bolder – and are looking to strengthen their political positions by taking on Seoul over its crypto policy.
While last week it was the turn of the Governor...
Bitcoin's Speedy Trial, Global Corporate Tax, Ripple Wins A Battle + More News
31.5.2021
Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.
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The Bitcoin (BTC) Taproot upgrade might lock-in on the mainnet in less than two weeks, when the next BTC mining difficulty...
South Korean Financial Supervisory Service Tasked With Crypto Market Oversight
31.5.2021
The Financial Supervisory Service of South Korea will lead government efforts to oversee the country’s expanding cryptocurrency market. The agency has been tasked with the job after prolonged discussions over which Korean regulator should be responsible for the industry. Financial Supervisory...
Brazilians Who Held $1,000 in Crypto Last Year Must Report It on Tax Returns by End of May
30.5.2021
Taxpayers in Brazil have only a couple of days left to file their annual tax returns. Investors who had more than 5,000 reals worth of cryptocurrency in 2020, a little less than $1,000, are obliged to report the funds on their income tax declarations this year. Brazilians who fail to do that...
Australian Tax Office to Prompt 400,000 Crypto Holders to Report Their Gains
29.5.2021
Australia’s revenue service has reminded a growing number of crypto investors about their tax obligations. Rejecting the common misconception that crypto gains are only taxable when coins are cashed back into dollars, the tax office is going to prompt hundreds of thousands of taxpayers...
Every Fourth Australian Willing to Be Paid in Bitcoin, Poll Finds
29.5.2021
A new survey has established that one in four Australians would like to receive at least part of their salary in cryptocurrency. While the motives vary between the members of this diverse group, the results indicate that the Australian nation’s overall interest in decentralized digital money...
Australian tax office: Report crypto profits or else
28.5.2021
The ATO said it already knows who is invested in cryptocurrencies and expects cooperation
Time to End US Crypto Tax Declaration ‘Forensic Exercise’ – Expert
27.5.2021
A USA-based tax expert has hinted that the ball may be in the Internal Revenue Service (IRS)’s court when it comes to taxing crypto – and suggested that most crypto investors are not tax dodgers, but simply require a non-“forensic” solution to filing taxes on their earnings.
The comments were made...
Crypto couple tells court the IRS has no right to tax newly mined coins
27.5.2021
Coins earned by staking have been “created” and are not taxable until sold according to one couple in the U.S
Spain Based Custodial Services to Report Ownership of Crypto Assets, According to New Law Draft
27.5.2021
A new law draft approved just today by the Finance Commission of the Spanish Congress would make Spain-based custody services report the ownership of the cryptocurrencies under management. The law, which was stuck in Congress for some time, aims to close a gap in the legislation that allowed some...
US Treasury Unveils Biden’s Proposed Tax Measures — Cryptocurrency Transfers Over $10,000 to Be Reported to IRS
20.5.2021
The U.S. Department of the Treasury has announced measures to crack down on tax evasion involving cryptocurrencies as part of President Joe Biden’s proposed tax compliance measures. Among the measures is a requirement for businesses that receive crypto assets with a fair market value of more...
US Lawmaker Pushes for Safe Harbor Legislation to Protect Crypto Investors With Forked Coins
20.5.2021
US Congressman Tom Emmer is pushing for safe harbor legislation to protect taxpayers with forked coins. A bill entitled “Safe Harbor for Taxpayers with Forked Assets Act of 2021” has been introduced to prohibit “penalties against taxpayers attempting to report certain gains...
Buterin Not Getting Tax Write-Off For SHIB India COVID-19 Relief Donation
19.5.2021
Vitalik Buterin. Source: a video screenshot, Youtube, Business Insider
Singapore-based Ethereum (ETH) Co-founder Vitalik Buterin said he will not get a tax write-off on his donation of 50trn shiba inu (SHIB) tokens to support India’s Crypto COVID Relief Fund.
He was reported as saying by Bloomberg...
South African Crypto Holders Urged to Approach Tax Body Before It Descends on Them
19.5.2021
A South Africa-based tax expert, David Lesperance, says with the country’s revenue collector now closing in on cryptocurrencies, holders must now take the initiative and approach South Africa Revenue Services (SARS) before it descends on them. Lesperance argues that by making the first move...
Report: South African Taxes and Smuggling Behind Gold’s Price Distortions in Zimbabwe
18.5.2021
Despite gold’s longstanding status as an alternative store of value, the commodity continues to experience unusual price variations in countries like South Africa and Zimbabwe. In turn, such price variances, as well as the rampant smuggling of the commodity, are distorting the precious...
Iranian Tax Agency to Profile Owners of Cryptocurrency Exchanges
16.5.2021
Cryptocurrencies have been a cause for concern in Teheran as the digital assets have attracted capital from other, traditional markets. The parliament’s leadership has now asked the tax agency to profile the owners of Iranian platforms facilitating cryptocurrency trading and report to...
US City in North Dakota Now Accepts Cryptocurrencies for Bill Payments
15.5.2021
A city in the U.S. state of North Dakota has begun accepting cryptocurrencies for utility bill payments. The city’s finance director says, “We are the first municipality in the state of North Dakota, and the third in the nation, to offer this service.” City Government Accepts...
Argentina’s tax body reportedly asks crypto firms to report all activity
14.5.2021
Argentina’s tax authority AFIP reportedly ordered domestic crypto exchanges and payment firms to provide monthly reports of all kinds of operations
IRS Will Seize Cryptocurrencies From Investors to Settle Tax Debts, Official Warns
14.5.2021
An official of the U.S. Internal Revenue Service (IRS) has clarified that the agency is prepared to seize cryptocurrencies and sell them to satisfy tax collection if taxpayers fail to meet their tax obligations. Robert Wearing, IRS’ deputy associate chief counsel for Procedure &...