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Early Bitcoin investor jailed for unreported crypto gains in $4M BTC sale

[Dec 13 9:11 AM] A Texas Bitcoin investor faces two years in prison for failing to report over $4 million in cryptocurrency gains, setting a legal precedent.

Czech gov’t moves to exempt crypto held for 3+ years from being taxed

[Dec 6 9:59 PM] The prime minister said Czech residents would not have to report crypto transactions under $4,200 per year or pay taxes for selling digital assets held for more than three years.

Italy scales back plans to hike crypto tax rate: Report

[Nov 12 9:55 PM] A Bloomberg report suggested Italian Prime Minister Giorgia Meloni could accept a proposal for a 28% tax hike on crypto rather than a 42% one.

Denmark Unveils Crypto Tax Plan, Recommendations Draw Fire From Bitcoiners

[Oct 24 2:30 PM] The Danish Tax Council has recommended what it terms non-backed crypto assets like Bitcoin be taxed similarly to asset-based crypto assets. The council argues the recommendations would allow crypto investors to deduct losses from gains thus making…

Italy Targets Bitcoin With Capital Gains Tax Hike as EU Prepares for MiCA Regulations

[Oct 17 2:30 AM] Italy plans to raise its capital gains tax on bitcoin to 42%, up from 26%, as part of efforts to fund election promises and curb the fiscal deficit. The government cites growing bitcoin adoption as a key factor. This comes as the European Union…

Mark Cuban Warns Kamala Harris’ Unrealized Gains Tax Will Kill Stock Market

[Sep 8 1:30 AM] 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…

South African Tax Authorities Scrutinize Crypto Traders Amid Compliance Uncertainty

[Jun 23 1:08 AM] South African crypto traders have reportedly started receiving notices from the South African Revenue Service (SARS) indicating that their tax affairs are under review. The revenue collector is gathering information from various crypto-asset…

Australia’s tax agency won’t clarify its confusing, ‘aggressive’ crypto rules

[Nov 23, 2023 7:09 PM] The Australian Tax Office’s new rules on DeFi are unclear on whether capital gains taxes apply to liquid staking and transferring to layer 2 bridges.

What is profit and loss (PnL) and how to calculate it

[May 5, 2023 2:07 AM] PnL refers to the financial gain or loss from buying and selling cryptocurrencies. To calculate it, use various method like the FIFO, LIFO, YTD, and more!

Biden wants to double capital gains and clamp down on crypto wash sales: Reports

[Mar 8, 2023 9:44 PM] The Biden administration wants to apply the wash sale rule to digital assets.

Italian Parliament Approves 26% Tax for Cryptocurrency Gains in 2023 Budget Law

[Jan 2, 2023 4:00 AM] The Italian Parliament has introduced a 26% capital tax on cryptocurrency gains as part of the 2023 budget law, which was approved on Dec. 29. The document also offers incentives for taxpayers to declare their cryptocurrency holdings, proposing a…

Italy Wants to Tax Crypto Gains at 26% From 2023

[Dec 1, 2022 8:30 AM] The new government of Italy plans to impose a 26% tax on capital gains from crypto trading, according to the draft budget for next year. The center-right coalition in power is also preparing to oblige Italians to declare their digital assets and…