2023-7-6 23:00 |
Income tax, property tax, VAT, corrective taxation — there is a tax goldmine out there for governments, but they will have to think hard about accessing it.
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When it comes to cryptocurrencies, several governments have been keen to impose taxes without providing clear regulations for consumer protection. However, it appears South Korea, under Yoon Suk-Yeol’s leadership, is gearing up to take a different approach.
2022-5-7 01:17 | |
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In April 2022, India’s proposed cryptocurrency and NFT tax will kick in, and as the world prepares for this development, what do investors and holders need to know? Crypto Regulations: The way forward The majority of governments worldwide are yet, to fully legalize or accept crypto and related technologies.
2022-3-22 04:53 | |
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Many of the world’s biggest governments are beginning to regulate the sale, ownership, trading, and mining of cryptocurrency. Of course, there are all levels of regulation, ranging from outright bans to tax laws and similar regulation of the new form of money.
2021-10-26 18:20 | |
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Indian entrepreneurs believe crypto tax laws are foundational to mainstream crypto acceptance by governments.
2021-9-14 15:18 | |
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This has been proposed as part of a global data sharing pitch that will help the US receive information from foreign governments on US individuals who are not reporting their crypto transactions and are dodging their US tax liabilities.
2021-6-3 16:13 | |
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Unless you have been living under a rock, you will have heard about Ethereum. It is a blockchain that has given Bitcoin a run for its money over the years. A decentralized protocol, meaning no interference from Governments, intermediaries or even the tax man, it allows developers to build their own open-source decentralized apps, withRead More
2021-4-15 04:51 | |
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Billionaire hedge fund manager Ray Dalio is well known for his criticism of holding fiat money in the face of unprecedented money printing and runaway inflation. Now, Dalio asserts that bonds — or anything, really in dollars, is also not a safe investment play, especially with governments producing insane amounts of debt. In a recent […]
2021-3-16 20:03 | |
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Given the increasing popularity of digital currencies, governments worldwide are looking for ways to regulate the crypto revolution and tax digital currency use effectively. Many governments throughout the world have now issued taxes that are due for cryptocurrencies, so soon every single transaction whether you bought or sold digital currency will need to be tracked […] The post TaxBit Review: Cryptocurrency Tax Software You Can Depend On appeared first on CaptainAltcoin.
2021-3-16 17:25 | |
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While there have been some impressive progress in the furthering relationship between cryptocurrencies and state governments, there is still a ways to go. According to the United States' Library of Congress, this assessment published a thorough 124-page report this month.
2021-2-5 21:30 | |
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Governments in nearly 100 countries have been sharing offshore bank account information in an effort to crack down on tax evasion. Their “Automatic exchange of information” has led to uncovering 10 trillion euros ($11 trillion) in offshore assets in 84 million bank accounts.
2020-7-3 16:45 | |
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As world governments push through legislation to levy taxes on capital gains from bitcoin (BTC) transactions, seeking to earn more from an asset class that frowns on regulatory oversight, there are still a few countries that remain pro-crypto, allowing investors to buy, sell or hold digital assets at zero taxes.
2020-5-26 01:40 | |
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As digital currencies become a mainstay in society, a great number of governments have enforced strict tax guidelines, severe money transmission rules, and tough regulations. Because of a few nation-states’ harsh rules against cryptos, there are individuals who plan to renounce their citizenship in order to become stateless.
2019-12-28 20:08 | |
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The current legal status of Bitcoin is difficult to gauge in the United Kingdom. A new taxation guidance update shows there is still some confusion to be cleared up. At this time, cryptocurrencies are neither currencies nor securities.
2019-11-5 22:30 | |
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With the rise in price and the growing adoption of cryptocurrencies, more governments worldwide have been ramping up efforts to tax them. Some countries are using extreme measures to get their hands on this new source of untapped revenue, but there are also tax-friendly countries that are not taxing crypto transactions.
2019-10-14 13:15 | |
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Bitcoin was created right after the financial crisis of 2008, conceptualized as an alternative to the existing centralized model which had failed the world several times over the years by keeping power concentrated in the hands of governments.
2019-10-11 21:30 | |
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Andrei Poliakov is the CEO and co-founder of Coinberry, one of Canada’s premier digital currency platforms. His company is the first in Canada to partner with a government municipality.
2019-4-23 17:42 | |
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The political spectrum is usually divided into four main categories: libertarian left, authoritarian left, libertarian right and authoritarian right. Those on the left prefer a more controlled economy, while those on the right have a preference for free markets.
2019-4-16 22:26 | |
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The blockchain and cryptocurrency industry is here to stay, and governments around the world are finally establishing the frameworks… The post French Minister Wants France To Become a “Blockchain Champion”… Yet the Country Keeps Its 30% Tax on Crypto appeared first on Invest In Blockchain.
2019-3-20 20:24 | |
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It seems investors and Facebook users still won’t be phased by increasing pressure on the social media giant and its CEO Mark Zuckerberg. Despite data privacy concerns, tax hits, and scrutiny from global governments Facebook’s share price has risen and with it Zuckerberg’s wealth.
2019-3-12 10:46 | |
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Canada’s tax agency is reportedly cracking down on cryptocurrency investors in the country. Multiple sources have confirmed that cryptocurrency holders have been targeted with audits by the Canada Revenue Agency (CRA), according to Forbes.
2019-3-7 20:14 | |
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Across the world, various governments have successfully implemented blockchain strategy. However, in the United States, such efforts have stalled. In 2018, the IRS was publicly criticized by a member of Congress for not creating a specific tax code for cryptocurrency.
2019-2-21 21:31 | |
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While the German government is preparing for a strategy presentation this summer, they have also sought the consultation of the blockchain community, reported February 18, 2019. Talking Points As time goes on, more and more governments have adopted the use of blockchain in transportation, tax collection, and so on.
2019-2-20 15:00 | |
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In recent times, it would seem like the governments in a few countries keep looking for new ways to control and profit off cryptocurrencies. Some countries including Chile, Romania, Spain and South Africa, are making laws that not only tax crypto assets but also force citizens to reveal their cryptocurrencies in their home country and […]
2019-1-30 16:23 | |
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Whenever I claim that bitcoin is the only decentralized cryptocurrency, I get one of two arguments:My X coin is also decentralized. Bitcoin isn’t decentralized because of Core and/or miners.
2019-1-21 21:52 | |
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Nick Spanos is an early adopter and innovator in the blockchain space. He is best known for launching Bitcoin Center NYC, the world’s first live cryptocurrency exchange, in 2013, right next to the New York Stock Exchange — as immortalized in the Netflix documentary “Banking on Bitcoin.
2018-12-15 21:43 | |
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Cryptocurrency, Taxes–Earlier today EWN reported on a development by several different countries, including Japan, to impose more severe regulations and protocols for catching so-called “cryptocurrency tax evaders.
2018-12-5 02:01 | |
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Rhetorical style should never distract from the content of someone’s arguments. So when I heard that Nouriel Roubini testified to the U. S. Senate Committee on Banking, Housing, and Urban Affairs on the cryptocurrency and blockchain ecosystem, I decided to peruse his testimony and reflect on it.
2018-10-24 19:38 | |
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Europe’s top banks allegedly helped wealthy clients across the continent steal 55 billion euros ($63 billion) from multiple governments by making tax reclaims to which they were not entitled, an investigation has revealed.
2018-10-21 09:10 | |
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Some African Governments are on revenue generation drive by raising taxes to fund budget deficits. From Zimbabwe to Kenya, Uganda to Benin, the same scenario is playing out and mobile money is the prime target.
2018-10-4 14:38 | |
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A smart robber fleeces you with a pen and a handshake. From Zimbabwe to Kenya, Uganda to Benin, African governments are on a tax-raising spree, looking for easy money, ostensibly to help fund successive revenue shortfalls and budget deficits.
2018-10-3 14:50 | |
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Despite Bitcoin’s plummet to $6,600 (at time of writing), world governments and emerging economies remain invested in the idea of a blockchain-powered ecosystem supplemented with a decentralized currency framework.
2018-8-28 23:00 | |
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Capital gains on crypto transactions are easy to track, one at a time. What about when there are thousands?Cryptocurrency capital gains taxes are becoming a point of interest for governments.
2018-7-31 20:04 | |
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The EU’s Policy Department for Economic, Scientific and Quality of Life Policies released a report entitled “Virtual currencies and central banks monetary policy: challenges ahead.
2018-7-3 23:28 | |
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South Korea’s Ministry of Finance has denied reports of 10% income tax on cryptocurrency investments. 10% Tax on Crypto Grains is Fake News Taxation has been a hot topic in the cryptocurrency world this year.
2018-6-24 06:27 | |
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South Korea’s Ministry of Finance has denied reports of 10% income tax on cryptocurrency investments. 10% Tax on Crypto Grains is Fake News Taxation has been a hot topic in the cryptocurrency world this year.
2018-6-24 02:00 | |
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The IRS published a draft version of its 1099-DA reporting form and controversially included unhosted crypto wallets among its targets on April 19. Ji Kim, Chief Legal and Policy officer at the Crypto Council for Innovation, wrote that the IRS’ approach is “unfortunate” as it does not recognize that unhosted wallet providers lack knowledge about […] The post IRS draft tax form for crypto defines unhosted wallets as brokers appeared first on CryptoSlate.
IRS criminal investigation chief Guy Ficco told CNBC on April 12 that taxpayers are increasingly committing tax crimes involving crypto. Ficco said the IRS has seen an increase in “pure crypto tax crimes” that fall under Title 26 of the US Code, which includes federal income tax violations.
Earnings already subject to the 15% capital gains tax don't need to be included when calculating income taxes.
The Biden administration released its proposed budget for 2025 on March 11, which includes provisions to implement a series of regulatory measures targeting digital assets. The proposed rules are expected to generate nearly $10 billion in additional tax revenue by 2025.
Indonesia witnessed a notable downturn in its crypto tax revenue in 2023, plunging by 62% compared to the previous year, despite the surge in Bitcoin's value.
In a strategic move ahead of the upcoming general elections, South Korea’s ruling party, the People Power Party (PPP), has announced plans to push for a further two-year delay in the implementation of crypto taxation, local media reported Feb.
The Brazilian Senate has approved a new taxation policy, effective Jan. 1, imposing up to a 15% tax on earnings from crypto held in foreign exchanges.