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US Lawmakers Write to Treasury Department Seeking Amendment On Proposed Crypto Tax Rules
16.11.2023
Source: Pixabay A group of United States lawmakers have led an effort for a change in the proposed cryptocurrency tax regime announced by the Treasury Department. The group addressed a letter to the Department on Nov 15 urging the body to change its approach to regulating the sector specifically...
U.S. Lawmakers Urge Treasury to Revise Proposed Crypto Tax Rules
16.11.2023
A letter by a bipartisan group of U.S. lawmakers has urged the U.S. Treasury to revise its proposed digital-assets taxation regime
Congress Gets the Runaround From Regulators, Again
15.11.2023
The Global Movement to Promote Crypto Tax Transparency — What You Need to Know
15.11.2023
In Europe and the U.S., there are a host of initiatives placing new requirements on participants in digital asset markets to report on transactions and meet other new provisions
Spate of Robberies Targeting Swedish Bitcoiners Linked to the Country’s Unfit Privacy Laws
15.11.2023
A bitcoin-owning Swedish couple was recently the latest victim of robbers that appear to target prominent bitcoin and crypto personalities. One social media user said the spate of robberies may be linked to Sweden’s antiquated privacy laws which make it easy for criminals to obtain...
40+ Countries Implementing International Crypto Reporting Framework
15.11.2023
Over 40 countries have agreed to implement the crypto reporting framework developed by the Organisation for Economic Co-operation and Development (OECD) as mandated by the G20. The widespread, consistent, and timely implementation of this crypto reporting framework “will further improve...
‘We're Not Asking for Special Treatment’: Coin Center on the Proposed IRS Broker Rules
14.11.2023
Crypto Regulation News Weekly Digest: Major Nations Commit to Crypto Tax Reporting Standard and EU Issues Draft Stablecoin Guidelines
14.11.2023
Nations and authorities advance crypto regulations across taxation, stablecoins, geo-blocking, and compliance this week. Image by motortion, Adobe Stock. Last week brought several noteworthy developments in the evolving crypto regulation scene across the globe. Major nations made efforts towards...
Australia Introduces Capital Gains Tax For Wrapped Tokens
14.11.2023
Source: Pixabay The Australian Taxation Office has issued an update on its capital gains tax for crypto products, stating that it also extends to wrapped tokens or token interaction with decentralized lending protocols. The previous edition of the capital gains tax stated that capital gains...
The IRS and the Rising Cost of Crypto Tax Compliance
14.11.2023
David Kemmerer anticipates the unintended consequences of proposed new regulations on brokers reporting crypto transactions. Expensive “tax experts” are set to benefit financially, he says, even if ordinary investors won’t
What the IRS Gets Wrong About DeFi and Crypto in Its Latest Tax Reporting Proposal
14.11.2023
Australia Updates Its Capital Gains Tax Guidance to Include Wrapped Tokens and DeFi
14.11.2023
Australia's tax authority has clarified that its capital gains tax on crypto products also extends to wrapped tokens or token interaction with decentralized (DeFi) lending protocols
Australia to impose capital gains tax on wrapped cryptocurrency tokens
14.11.2023
Delivering a major hit to Australian crypto investors, the ATO stated that wrapping or unwrapping tokens — irrespective of their price at the time — will be subject to capital gains tax
Crypto Tax Proposal Open for Revision, IRS Officials' Questions Suggest
13.11.2023
While crypto representatives and lawyers cautioned the U.S. Internal Revenue Service (IRS) that its crypto tax proposal is a dangerous and improper overreach, questions posed by a panel of IRS and Department of the Treasury officials at a Monday hearing may reveal some flexibility in the rule...
What Are the Tax Implications of the Alleged Binance Wallet Hack (or Any Crypto Exploit)?
13.11.2023
The IRS Should Offer a Free Tax Reporting Tool to DeFi Users
13.11.2023
Blockchain is not the problem, it is the solution to the problem the U.S. tax agency wants to solve through its highly controversial "broker rule."
Crypto Tax Basics: A 101 for Beginners
13.11.2023
Everything you need to know, courtesy of Jaimin Desai, CEO & Co-Founder of Reconcile, a tax optimization platform helping investors, business owners and high-income earners pay less tax
The IRS Should Heed This Warning
13.11.2023
The Tax Implications of Sam Bankman-Fried’s Conviction
13.11.2023
The end of the trial provides some clarity for FTX customers as to how the company’s bankruptcy might affect their taxes. But how the IRS might act in the context of illegal activity is unclear
IRS 'Raided' by Crypto Investors as Industry Puts Up Fight Against U.S. Tax Proposal
13.11.2023
The U.S. Internal Revenue Service (IRS) is gathering the final words now from a crypto sector that is arguing the agency's proposal for a digital-assets taxation regime is an existential threat to investor privacy and to decentralized crypto projects