[yesterday 1:13 AM] Detroit says the move to begin accepting crypto as payment for taxes and other city services was part of a broader effort to “modernize and improve” its payment channels.
[Oct 28 7:00 PM] The Nigerian government has dropped charges against a Binance exec, Ripple has filed an appeal, FTX settled with Bybit, and Denmark moves to tax unrealized crypto gains.
[Oct 25 2:58 AM] The Dutch government wants to align its data collection rules for crypto service providers with the rest of the EU, saying it would “create more transparency.”
[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…
[Oct 18 5:30 AM] The Kenyan Revenue Authority (KRA) is tightening its grip on cryptocurrency by proposing a real-time tax system integrated with exchanges. This system would track all crypto transactions, capturing details like time and value for tax collection…
[Oct 13 3:30 AM] The South African Revenue Service (SARS) has announced plans to include crypto assets in its tax compliance programs. SARS is seeking information on crypto users and is increasing its efforts to identify and audit non-compliant taxpayers. The…
[Aug 22 3:00 PM] Separately Managed Accounts, or SMAs, offer significant advantages over ETFs for institutional investors who want to invest in crypto via actively managed accounts.
[Aug 20 12:30 AM] The Nigerian government is looking to impose taxes on the cryptocurrency industry. The Federal Inland Revenue Service (FIRS) plans to introduce a new tax law to achieve this. Despite being a major crypto market, Nigeria currently receives minimal…
[Jul 15 2:37 AM] If the new proposal is approved, implementing the crypto gains tax in the country will be delayed by nearly seven years from its original schedule.
[Jun 28 12:11 AM] The Australian Tax Office is collecting over a decade of crypto transaction data, and tax dodgers could be busted if they don’t properly file this tax season.
[May 27 8:13 PM] The Financial Intelligence Centre (FIC) has proposed a directive regarding crypto asset transfers. This directive follows the licensing of 75 crypto asset service providers (CASPs) by the Financial Sector Conduct Authority in South Africa. The FIC…
[May 16 1:33 AM] Switzerland plans to adopt global standards for crypto tax reporting, joining the Crypto-Asset Reporting Framework to improve transparency.
[May 7 4:51 AM] The personal and crypto-transaction related details could help identify users who failed to report their tax obligations, according to the Australian Tax Office.
[Apr 25 2:33 AM] The tax authorities of Australia and Indonesia have signed a memorandum of understanding to share information on cryptocurrency. Under this agreement, both entities will exchange data on crypto assets and share knowledge to ensure adherence to tax…
[Apr 5 4:29 PM] A Nigerian court has postponed the tax evasion case of the detained Binance executive to April 19, while the hearing for the cryptocurrency exchange itself is scheduled for April 8. The court also ordered that the executive Tigran Gambaryan be held…
[Apr 3 1:22 AM] Many cryptocurrency users have not filed their tax returns, fearing that the Internal Revenue Service (IRS) might change regulations after they submit their returns, according to a cryptocurrency tax expert. The expert stated that the IRS has the…
[Mar 3 11:30 PM] The Indonesian Finance Ministry has been called upon to assess the implementation of cryptocurrency taxes by the nation’s Commodity Futures Trading Supervisory Agency. In the past few months, Indonesia’s revenue from crypto-based transactions has…
[Feb 9 1:30 AM] The Thailand Finance Ministry has announced the removal of the previously applicable value-added tax on digital asset trading. This exemption, which took effect on Jan. 1, 2024, extends to regulated brokers, dealers, and authorized cryptocurrency…
[Jan 24 8:30 PM] The Internal Revenue Service (IRS) has revised the question about digital assets included on income tax forms. Moreover, the tax authority has added the question to four additional tax forms. “The question must be answered by all taxpayers…
[Jan 18 1:30 AM] On Tuesday, the U.S. Internal Revenue Service (IRS) and Treasury provided transitional guidance on digital asset reporting, postponing enforcement pending regulation issuance. IRS Temporarily Halts Enforcement of Digital Asset Reporting The U.S…
[Jan 5 10:30 AM] South Koreans with digital assets held in non-custodial or decentralized crypto wallets like Metamask or Ledger are reportedly not subject to the country’s overseas financial account reporting requirement. According to a South Korean tax…
[Jan 2 9:30 PM] A new tax reporting law has entered into force in the U.S. Starting on Jan. 1, all Americans receiving $10,000 or more in crypto in the course of their trade or business must file a report with the Internal Revenue Service (IRS) within 15 days…
[Dec 6, 2023 5:30 AM] A Kenyan parliamentary committee has reportedly approved a bill that proposes to widen the definition of securities to include cryptocurrencies. The bill proposes a tax on crypto exchanges and digital wallets as well as a capital gains tax on users…
[Nov 18, 2023 4:30 AM] South Africa is the only African country to join the group of countries that have agreed to implement the Crypto-Asset Reporting Framework. According to the South African Revenue Collector, the reporting framework is expected to improve its…
[Nov 14, 2023 11:00 PM] 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…
[Oct 30, 2023 2:30 AM] Indian government should lower a tax on crypto transactions as it’s not fulfilling its stated purpose, a local cryptocurrency exchange said. The company blames the levy, which was introduced last year, for driving Indian crypto trading volumes to…
[Sep 23, 2023 12:00 AM] Hungarian authorities have seized cryptocurrency worth over $1 million from a criminal organization in a value-added tax (VAT) fraud case. The authorities raided 28 locations, arrested three suspects, and seized various assets tied to the group…
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