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International Deal to Combat Crypto Tax Evasion to Start 2027 as 48 Countries Sign Up
10.11.2023
Several countries with a sizeable interest in crypto, such as Turkey, India, China, Russia and all African nations, are not signatories to the statement
South Korea Joins Global Community for Crypto Asset Reporting Framework Push
10.11.2023
Source: Pexels South Korea has joined a group of 48 nations, calling for the promotion of an international framework for cryptocurrency reporting. In a significant move, South Korea confirmed its engagement on Friday to implement the international reporting framework on digital assets....
India's Controversial Crypto Tax Should Be Cut After Failing to Achieve Aims, Think Tank Urges
9.11.2023
India's most controversial crypto tax, the 1% TDS levy deducted at source, should be lowered to 0.01%, according to the findings of a new study
Indian Government Misses on $420 Million in Crypto Taxes as 90% Trade Volume Shifts Offshore: Report
9.11.2023
Source: Pexels The imposition of a one percent tax-deducted-at-source (TDS) on the trading of cryptocurrencies in India has led to a massive shift of millions of users to offshore crypto exchanges, according to a recent report published by the Esya Centre. In February 2022, India’s Ministry...
Blockpit Acquires Rival Tax Platform Accointing to Improve EU Crypto Tax Services
7.11.2023
Source: Blockpit Blockpit, an Austria-based crypto tax service provider, has acquired its rival platform Accointing from the crypto data company Glassnode. This acquisition positions Blockpit to align with the upcoming EU tax regulations, known as the Eighth Directive on Administrative Cooperation...
Crypto Tax Platform Blockpit Buys Rival Accointing From Glassnode
7.11.2023
The "multi-million dollar" acquisition gives Austria-based Blockpit a footprint in the U.K
Oyster Protocol founder gets 4 years jail for $5.5M tax evasion
1.11.2023
31-year-old Oyster Protocol founder Amir Bruno Elmaani — aka “Bruno Block” — has been sentenced to four years imprisonment for tax evasion
Crypto Exchange Wants to See India Lower Tax on Trading
30.10.2023
Indian government should lower a tax on crypto transactions as it’s not fulfilling its stated purpose, a local cryptocurrency exchange said. The company blames the levy, which was introduced last year, for driving Indian crypto trading volumes to overseas platforms. Indian Exchange Expects...
Kraken to Release User Data to IRS in Compliance with June Court Mandate
27.10.2023
Kraken will provide user data to the IRS after a legal battle over crypto tax reporting. Image by Michael O’Keene, Adobe Stock.Major U.S. cryptocurrency exchange Kraken will provide limited user information to the Internal Revenue Service (IRS) next month following a court order received...
Turkey Projects Finalization of Cryptocurrency Taxes by Next Year
27.10.2023
Turkish government intends to establish a regulatory framework for crypto assets, including plans to tax these digital assets, starting 2024. The regulatory measure came as a part of the government’s 2024 Presidential Annual Program, unveiled on Wednesday. The translated document sheds light...
IRS extends comments period for new crypto tax rule to mid-November
25.10.2023
The proposed rules are supposed to come into effect in 2026, impacting sales and exchanges conducted in 2025
IRS crypto tax reporting rules threat to industry — Coinbase legal chief
19.10.2023
The IRS proposed the new crypto tax reporting rules in August, and if approved, the new crypto tax regime will come into effect from January 2026
Council of Europe adopts DAC8 crypto tax reporting rule
18.10.2023
The eighth iteration of the Directive on Administrative Cooperation was formally adopted by the Council of the European Union
Major Japanese Businesses Ask Gov’t to Reform Crypto Tax System
18.10.2023
Some of Japan’s biggest businesses have asked the nation’s government to make crypto tax reforms, as the country continues to pivot to Web3 and crypto.
Per an official Japan Association of New Economy (JANE) announcement, the group has submitted a tax reform proposal to Tokyo.
JANE has asked...
EU Formally Agrees on New Crypto Tax Data Sharing Rules
17.10.2023
The finalized rules, set to be published in the EU's official journal, force crypto firms to report on customers' holdings to be shared between tax authorities
7 Senators Urge Treasury and IRS to Rapidly Implement Crypto Tax Reporting Rule
13.10.2023
Seven U.S. senators have called on the Treasury Department and the Internal Revenue Service (IRS) to “implement the proposed crypto broker reporting rule as rapidly as possible.” The lawmakers stressed: “We are alarmed by the self-inflicted two-year delay for the rule’s implementation.” Senators...
Coinbase Sounds Alarm on IRS Crypto Tax Proposal
12.10.2023
As the U.S. crypto exchange called the recent IRS proposal for taxing crypto “incomprehensible,” the tax agency flagged that the industry isn’t paying its fair share
US lawmakers urge IRS to implement crypto tax reporting requirements before 2026
11.10.2023
The crypto tax reporting requirements proposed by the IRS in August are currently scheduled to go into effect in 2026 — according to 7 senators, that isn't soon enough
Indian Government Collects Over $12 Million From Crypto Taxes
11.10.2023
India’s Central Board of Direct Taxes (CBDT) has collected more than 100 crore INR ($12 million) from one percent TDS (Tax Deducted at Source) on crypto transactions in this financial year.
The Indian government had implemented one percent direct tax on all crypto transactions from July...
Hungarian Authorities Seize Crypto Worth $1M in Tax Fraud Case
23.9.2023
Hungarian authorities have seized cryptocurrency worth over $1 million from a criminal organization in a value-added tax (VAT) fraud case. The authorities raided 28 locations, arrested three suspects, and seized various assets tied to the group. The seized cryptocurrencies were transferred to...