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Tax the Metaverse Calls Gain Momentum Following Scholarly Research
5.9.2023
A new research paper from Harvard legal scholar Christine Kim argues that the same tax principles that apply to physical world income should extend to the metaverse.
Christine Kim, a law professor at Yeshiva University, laid out the case for taxing the metaverse in her recent paper "Taxing...
Failure to tax the metaverse ‘will create a tax haven’ — Harvard legal expert
4.9.2023
Harvard scholar Christine Kim writes that income and wealth in the metaverse should be subject to immediate taxation
Colorado DMV Accepts Crypto Payments Through Paypal
2.9.2023
The Colorado Department of Motor Vehicles (DMV) has announced it accepts cryptocurrency for its online services via the payment processor Paypal. Besides paying local taxes with coins, residents of the crypto-friendly state will be able to use their digital cash to renew driver’s licenses...
Kentucky regulator denies plan for subsidizing crypto mining facility
1.9.2023
A proposed contact with the Kentucky Power Company would have allowed Ebon International to receive a discounted rate for service at its crypto mining facility over a decade
Tornado Cash Indictments May Prove to Be Just a Localized Storm After All
30.8.2023
The Tornado Cash indictments could be another tipping point for crypto. How the case plays out could define how the federal government can deal with decentralized trading platforms if they’re seen as broad precedents. But the case may be much more straightforward than initial reactions suggested
Indian crypto exchanges CoinSwitch, CoinDCX cut staff amid market slump
29.8.2023
Indian crypto exchanges like CoinSwitch and CoinDCX have been struggling to maintain headcount amid bear market and TDS
New tax rules for crypto in the US: Law Decoded
28.8.2023
The United States Internal Revenue Service has released proposed regulations on the sale and exchange of digital assets by brokers
IRS releases draft of proposed reporting rules for digital asset brokers
25.8.2023
House Financial Service Committee chair Patrick McHenry said the rules are part of “the Biden Administration’s ongoing attack on the digital asset ecosystem.”
U.S. Crypto Tax Proposal Lets Miners off the Hook, Snares ‘Some’ Decentralized Exchanges
25.8.2023
The U.S. Treasury Department has finally unveiled its definition of a "broker" for the crypto industry, defining how crypto companies and investors will need to meet tax reporting obligations and answering a years-old question over whether decentralized finance platforms and miners will need...
Indian Crypto Exchange CoinDCX Is Cutting 12% of Jobs as Bear Market, Taxes Take Their Toll
22.8.2023
As many as 71 people are losing their jobs
South Korean city to seize crypto from thousands of tax evaders: Report
22.8.2023
City authorities of Cheongju are looking to seize cryptocurrency from anyone who owes at least $750 in crypto taxes to the government
Coin Center responds to US lawmakers' request for crypto tax guidance
21.8.2023
Among the crypto advocacy group's suggestions included a De Minimis exemption for crypto transactions and having the IRS provide guidance on block rewards, airdrops, and hard forks
CoinSmart president says crypto taxes are a 'little bit more favorable' outside US
16.8.2023
According to Jeremy Koven, Canadian crypto firms may have a better regulatory environment than ones in the United States, benefitting users in a number of ways
Brazil's Congress moves to levy higher taxes on cryptocurrencies
12.8.2023
If approved, the legislation would place crypto assets held by Brazilians overseas subject to the same tax rules governing traditional assets
Rise in Chinese Citizens, Firms Using Digital Yuan to Pay Taxes
10.8.2023
More Chinese citizens and firms are using the digital yuan, China’s central bank digital currency (CBDC), to pay their taxes, state organs, and government-owned banks have claimed.
Per Xinhuanet, the claims were made by Hunan Province’s Tax Bureau, as well as the Changsha Central branch of...
FTX has a plan, but creditors are not impressed: Law Decoded
7.8.2023
A body representing FTX customers said it is “extremely disappointed” by the company’s reorganization plan
Elizabeth Warren, Bernie Sanders urge closure of ‘$50 billion crypto tax gap’
3.8.2023
U.S. senators including Elizabeth Warren and Bernie Sanders claimed crypto tax evaders are siphoning off billions from the government
Ukrainian government reports $81M tax loss from unregulated crypto exchanges since 2013
2.8.2023
A crypto bill signed into law in 2022 paved the way for the Ukrainian government to amend its tax code, but local exchanges still largely operate outside this framework
Crypto Staking in the Crosshairs: IRS Unveils New Tax Guidance
1.8.2023
The U.S. Internal Revenue Service (IRS) has issued a decree stating that American citizens drawing income from cryptocurrency staking services must categorize the value of those digital assets as gross income, the moment they officially take possession of the staking reward. IRS Clarifies...
IRS: Crypto Staking Rewards Taxable Once Investor Gets Hands on Tokens
31.7.2023
A cryptocurrency investor rewarded assets for validation activity on a proof-of-stake network should count the rewards as income in the year the investor gets control of those tokens, according to a ruling issued Monday by the Internal Revenue Service (IRS)