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South Korean Ruling Party Contemplates Postponing Crypto Tax in a Bid to Regain Younger Votes
4.5.2021
South Korean political parties are now battling to catch younger votes amid the tough stance among higher government spheres toward digital currencies. As voters are disappointed by how parties are handling the issue, one of them has taken a step forward by talking about the forthcoming crypto tax....
Employer paid worker in crypto, then demanded it back when price rose
3.5.2021
"I have worked with this person for many years, and he has a tendency to try to change the terms of payment after agreeing on a certain way of operating," said the contract worker
Survey shows South Koreans support crypto tax law
3.5.2021
More than half of the survey respondents favored the controversial crypto tax law in South Korea
UK revenue authority to target cryptocurrency tax evaders
29.4.2021
The U.K. tax authority is trying to crack down on wealth hidden in "unsanctioned" currencies
Indonesian regulators consider tax on cryptocurrency transactions
27.4.2021
Officials are considering a tax on all cryptocurrency transactions in Indonesia
Crypto tax in South Korea is ‘inevitable’ in 2022, says minister
27.4.2021
South Korea’s finance minister said that cryptocurrencies like Bitcoin will be taxed as “intangible assets.”
Biden’s proposed capital gains tax rise will hit only richest 0.3%
26.4.2021
Only 0.3% of taxpayers in the U.S. would be hit by higher levies on their investments under the new capital tax plan, a senior Biden administration official said
South Korean Prime Minister nominee to look into controversial crypto tax law
26.4.2021
South Korea’s crypto tax law continues to face significant opposition from cryptocurrency proponents in the county
NFTs and US taxes: What you should know
24.4.2021
Are there any pitfalls in NFT taxation according to the current U.S. laws?
Tax Authority Seizes Cryptocurrencies Worth $25 Million From Hundreds of Crypto Investors in South Korea
24.4.2021
The tax department of the Seoul metropolitan government in South Korea has reportedly seized cryptocurrencies worth about $25 million from hundreds of crypto investors with delinquent taxes. The cryptocurrencies, including bitcoin, were seized from three exchanges. The tax authority is now going...
Joe Biden’s Proposal to Double Capital Gains Tax Rate Shakes Financial Markets
23.4.2021
The Biden administration has revealed plans to raise taxes on investors who are millionaires according to a flurry of recent reports. President Joe Biden wants to overhaul the U.S. economy in order to help fund American childcare and education. Biden’s proposal will almost double the current...
Norwegian authorities urge crypto users to declare earnings on upcoming return
21.4.2021
"Our experience is that most people will follow all laws and regulations, and we will help those who invest in crypto to do it right," said Marius Johansen
More IRS summonses for crypto exchange account holders
18.4.2021
The recent John Doe summons developments indicate that the IRS is seriously interested in crypto — better to report than to be audited
The crypto FBAR: Implications beyond
17.4.2021
What crypto owners should know if crypto accounts fall within the new Foreign Bank and Financial Accounts regulations
Miami-Dade Officials Hope to Launch a Crypto Task Force, Residents Could Pay Taxes in Bitcoin Soon
17.4.2021
Back in mid-February, Bitcoin.com News reported on Miami’s Mayor Francis Suarez supporting the idea of the city holding bitcoin in the treasury and allowing tax payments in bitcoin as well. On April 15, 2021, reports show that the city may introduce the tax payments concept soon, as...
Miami-Dade Residents Might Be Able Pay Taxes With Crypto
16.4.2021
A new proposal by Danielle Cohen Higgins, County Commissioner of District 8 from the Miami-Dade county in Florida, US, calls for the establishment of a task force to look into the possibility of enabling residents to pay their taxes in cryptocurrency.
Should the proposal go through, local...
Miami commissioner wants to let residents pay taxes in Bitcoin
15.4.2021
A new resolution would establish a task force to study crypto in Miami-Dade county's public administration
Spanish Tax Authority Issues 14,800 Warning Letters to Cryptocurrency Holders
13.4.2021
Spanish authorities are enforcing their tough stance on the cryptocurrency industry, and the national tax agency seems to be taking it very seriously. Now, the Hacienda issued 14,800 warning letters to Spaniards under their watch for allegedly having failed or need to declare crypto holdings. Fines...
More Russians are disclosing their cryptocurrency incomes: report
8.4.2021
Consulting firms like PwC Russia said that Russians have been increasingly reporting their income from cryptocurrency operations
Collect Taxes More Effectively to Avoid ‘Debt Trap’ Chaos, Warns IMF
6.4.2021
The IMF’s Managing Director, Kristalina Georgieva. Source: A screenshot, Instagram/the_imf
Global financial chiefs have suggested that they may look to more aggressive tax collecting measures in advanced economies as a means to dig the world economy out of a “disturbing” impending coronavirus...