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South Korean Bitcoin miners can deduct electricity costs from crypto tax filings
6.5.2021
Crypto miners will be able to deduct electricity costs as business expenses when filing cryptocurrency taxes starting in 2022
Court orders Kraken to provide information on user transactions to the IRS
6.5.2021
A court in northern California has ordered Kraken to provide info on users who traded more than $20,000 between 2016 and 2020 to the IRS
South Korean Crypto Tax U-Turn Looking Unlikely, Despite Outcry
5.5.2021
Despite the recent outcry about crypto tax among younger South Koreans, a new small survey has found that most of the respondents are in favor of imposing taxes on crypto traders’ profits.
Per Segye Ilbo and Chosun, the survey quizzed 500 people aged 18 and over nationwide and was commissioned...
Young Koreans Less Keen on Crypto Taxation Than Older Generations, Poll Finds
4.5.2021
Opponents of the government’s plan to tax gains from cryptocurrency trading outnumber supporters among South Koreans in their 20s, a new survey shows. Representatives of other age groups are more open to the proposed taxation of investments in virtual assets. Nearly Half of Young Koreans...
Spanish Healthcare Group to Accept Cryptocurrency Payments, Citing Interest in ‘Bitcoin Revolution’
4.5.2021
Cryptocurrency regulation is still an ongoing topic for the Spanish government and regulators, with some not too friendly measures against crypto ads or enhancing tax rules. However, adoption is on the rise in different industries, and the healthcare sector is joining the frenzy. Patients Could...
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....
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
Biden’s capital gains tax plan to pull crypto down to earth from the moon?
30.4.2021
More taxes may cause short-term volatility, “but long term, you may see more demand for DeFi applications and other collateralized use cases.”
UK Taxman Gears up for Assault on Crypto-holding Tax Evaders, Say Accountants
29.4.2021
A British chartered accountancy company says that UK tax authorities will quiz suspected tax evaders on their crypto holdings – to determine if individuals are seeking to avoid paying tax by making crypto purchases.
In a press release shared with Cryptonews.com, the accountancy, UHY Hacker Young...
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
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...
Seoul government seizes $22M worth of crypto from tax evaders
23.4.2021
The City of Seoul becomes the first city in South Korea to confiscate cryptocurrencies owned by tax delinquents
Take My Fiat but Don’t Sell My Crypto, Plead Millionaires after Tax Bust
23.4.2021
Seoul has become the latest South Korean city to launch an assault on crypto tax evaders, seizing cryptoassets from 1,566 individuals and 676 companies in the highest tax band – leaving scores of high-earning crypto buyers begging the city not to sell their tokens as they fear missing out on bigger...
Biden ‘Tax Plans’ Speculations Spook Crypto Speculators
23.4.2021
Joe Biden. Source: A screenshot, Instagram/joebiden
Bitcoin (BTC) and altcoin markets are in red today, with with BTC dropping below the key USD 50,000 mark – in the wake of fresh tax-related speculations from the United States.
The American President Joe Biden is reportedly set to unveil plans...
Ohio senator wants clarity for crypto tax reporting in proposed bill
20.4.2021
Senator Rob Portman said lawmakers were "still pulling in information" on crypto to formulate the bill, implying he announced it to the public prematurely