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Crypto Platform CEO Arrested for Allegedly Paying Deputies in Extortion Scheme
28.9.2024
Crypto platform Zort’s CEO has been arrested on multiple charges. Allegations against Iza include paying large sums to Los Angeles County deputies for illegal activities, such as unlawful searches, extortion schemes, and even a failed kidnapping attempt. “Iza boasted about paying...
Turkey Scraps Planned Crypto Tax, Targets Economic Reforms
27.9.2024
Turkey has decided not to move forward with a new tax targeting stock market and cryptocurrency gains, according to Vice President Cevdet Yilmaz. While previously discussed, the plan has been dropped, with the government focusing instead on reducing tax exemptions. This shift follows concerns about...
Turkey Shelves Additional Plans to Tax Stocks and Crypto: Bloomberg
24.9.2024
We don’t have a stocks tax on our agenda. It was discussed previously and fell from our agenda, Vice President Cevdet Yilmaz told Bloomberg, talking about plans that also affect crypto
AI agents could be policing all crypto txs within 5 years: Chainalysis CEO
20.9.2024
Chainalysis CEO Michael Gronager believes “it’s not much further away” before governments use AI agents to catch onchain crypto wrongdoers
HEX founder Richard Heart suspected of tax evasion in Finland
18.9.2024
Richard Schueler, aka Richard Heart, is already at the center of an SEC suit. Now he has issues in Finland, his chosen country of residence
Latam Insights: Brazilian Federal Police Cracks Down on $9.7 Billion Crypto Money Laundering Rings, Brazil Uses AI to Detect Crypto Tax Fraud
16.9.2024
Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news from the past week. In this issue, Brazilian police dismantle $9.7 billion crypto laundering rings, Brazil uses an artificial intelligence (AI) tool to detect tax fraud linked to cryptocurrency...
Bitcoin Investor Faces Prison Time for Underreporting Crypto Gains
15.9.2024
A bitcoin investor has pleaded guilty to underreporting his cryptocurrency gains, including $3.7 million from BTC sales, resulting in a tax loss to the Internal Revenue Service (IRS) of over $550,000. The Department of Justice emphasized that taxpayers must accurately report crypto transactions...
Court Sentences Missouri Man to 3 Years in Prison for Crypto and Tax Fraud
12.9.2024
Missouri resident Lyell Champagne Jr. has been sentenced to three years in federal prison for fraud and tax offenses involving cryptocurrency. He and his accomplice attempted to steal funds by accessing victims’ bank accounts and filing false tax returns. Law enforcement recovered most of...
Brazilian Tax Watchdog Uses AI Tool to Identify Operations Linked to Over $180 Million in Crypto-Related Tax Fraud
10.9.2024
The Federal Revenue Service, the Brazilian tax watchdog, recently revealed that it has been using an in-house tool that leverages AI to detect money laundering and tax evasion transactions involving crypto. The tool has already been proven useful in identifying over $180 million in funds involved...
Mark Cuban Warns Kamala Harris’ Unrealized Gains Tax Will Kill Stock Market
8.9.2024
Billionaire Mark Cuban warned that taxing unrealized gains would “kill” the stock market but believes Vice President Kamala Harris would not prioritize this policy. While Harris supports parts of President Biden’s tax plan, Cuban emphasized it is not her final stance. He also...
Crypto Taxation: What You Need to Know in 2024
7.9.2024
As cryptocurrency continues to gain prominence as an asset class, tax regulations surrounding it are becoming increasingly complex. For 2024, […]
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South Africa Leverages AI to Track Down Tax-Dodging Crypto Traders
6.9.2024
The South African government is tightening its grip on cryptocurrency trading. Tax authorities (SARS) are issuing tax notices and clarifying regulations, likely using AI to identify non-compliant traders. The central bank meanwhile has clarified rules for crypto purchases, allowing individuals...
Japans Financial Regulator Mulls Taxing Crypto as a Financial Asset
4.9.2024
A change in the regime could result in lower taxes for some crypto investors
Japan’s Financial Services Agency Includes Crypto in 2025 Tax Proposal
4.9.2024
The Financial Services Agency has released its tax reform requests for fiscal year 2025, highlighting the need to consider the tax treatment of virtual currency transactions as financial assets. This marks the first time virtual currencies are mentioned in such requests. Industry groups have long...
Japan’s finance regulator calls for lower crypto taxes in 2025
4.9.2024
Japan's Financial Services Agency has released plans to overhaul the nation's tax code which could see the tax rate for crypto assets lowered in 2025.
Nigerian Civil Society Groups Praise Crypto Tax Proposal
29.8.2024
A coalition of Nigerian civil society organizations has applauded the plan by Zacch Adedeji, head of the Federal Inland Revenue Service, to include cryptocurrencies in the tax system. The CSOs believe this move will boost confidence in the crypto market and attract foreign investors. The CSOs...
Japan eyes Web3 growth with startup-focused tax reforms
28.8.2024
Japanese minister Takeru Saito hopes to create an environment to lure businesses and developers worldwide
New Zealand to Put OECD Crypto Tax Framework in Place by April 2026
27.8.2024
New Zealand-based crypto-asset service providers will have to collect information on users' transactions starting April 1, 2026
New Zealand introduces OECD crypto reporting framework on new tax bill
27.8.2024
Crypto service providers who fail to take “reasonable care” to comply with the requirements could be fined between 20,000 and 100,000 New Zealand dollars ($12,000 and $62,000)
Harris Backs Plan to Tax Unrealized Gains, Kiyosaki Says Prepare for Crash Landing, and More — Week in Review
25.8.2024
Vice President Kamala Harris supports President Biden’s proposal to increase taxes on unrealized gains for the wealthy. Financial author Robert Kiyosaki warns of an impending market crash, urging investments in gold, silver, and bitcoin for safety. Economist Peter Schiff calls for higher...