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Puerto Rico Defines Act 60 Tax Exemptions for Blockchain Companies

[Mar 1, 2023 6:30 AM] The Economic and Commerce Development Department of Puerto Rico (DDEC) has issued a document in which it defines the rules that blockchain projects must follow to receive tax benefits that the state offers companies. The action seeks to create an…

Income Tax Applies to Crypto Trading in Bosnia, Tax Administration Says

[Feb 13, 2023 5:00 AM] Individuals are expected to pay income tax on gains from cryptocurrency trading, the tax authority of Bosnia has determined. In the absence of dedicated regulations, the federal government in Sarajevo has set up a working group to assess various…

Uzbekistan Collects Over $300,000 From Crypto Sector

[Feb 3, 2023 5:30 PM] While operations with digital assets are not taxed in Uzbekistan, the government is receiving a growing amount of revenues from the industry. The increase in budget receipts has been attributed to the licensing regime and the introduction of fees…

Leading Crypto Tax and Accounting Provider Ledgible Unveils New Design

[Jan 16, 2023 12:00 PM] PRESS RELEASE. Ledgible, the leading digital asset tax and accounting solution for institutions, professionals, and investors unveils a newly revamped website and interface. Users can now quickly explore the company’s various digital asset…

Hungarians Interested in Investment Potential of Cryptocurrencies, Poll Shows

[Jan 14, 2023 11:30 PM] A survey has indicated that Hungarians would like to learn more about the long-term investment opportunities presented by cryptocurrencies. However, associated risks and insufficient information in their native language are major concerns…

Biden Vows to Veto House Republicans’ ‘Fair Tax Act’ Proposing Elimination of IRS

[Jan 13, 2023 9:00 AM] Several U.S. House of Representatives Republicans have proposed legislation that would significantly decrease funding for the Internal Revenue Service (IRS). The move comes after the newly elected Speaker, Kevin McCarthy, stated that he would…

Romania Carries Out Raids as Part of Crypto Tax Evasion Probe

[Jan 8, 2023 3:30 AM] Authorities in Romania have conducted more than a dozen raids against people suspected of hiding income from cryptocurrency operations. The searches took place in late 2022 following an earlier investigation which established that crypto traders…

Crypto Miners in Kazakhstan Start Paying Higher Electricity Fees

[Jan 7, 2023 5:30 AM] Since the beginning of 2023, cryptocurrency miners operating in Kazakhstan are obliged to pay new fees for the power they need to mint digital coins. A surcharge introduced in 2021 now depends on the price of electricity consumed by bitcoin farms…

Tax attorney breaks down the MicroStrategy Bitcoin sale

[Jan 3, 2023 5:07 AM] MicroStrategy’s recent sale of a portion of its Bitcoin treasury holdings puts cryptocurrency tax-loss harvesting into the spotlight.

US Government Delays Tax Reporting Rules for Cryptocurrency Brokers

[Dec 25, 2022 4:00 AM] The enforcement of a requirement for brokers to report gains made by crypto investors has been postponed by the U.S. Treasury Department and the IRS. The new tax rules, incorporated into the $1 trillion infrastructure bill passed by the U.S…

Buenos Aires to Tax Cryptocurrency Mining in 2023

[Dec 23, 2022 1:00 AM] The province of Buenos Aires in Argentina will begin taxing cryptocurrency mining and possibly staking, in 2023. A new proposal modifies the tax law to introduce cryptocurrency mining as a taxable activity that will levy 4% on the income calculated…

Japanese Government To Ease 30% Crypto Tax Requirement – A Good Move?

[Dec 16, 2022 2:26 PM] Presently Japanese crypto firms pay a set 30% corporate tax rate on their holdings, regardless of whether or not they made a profit. Due to this stringent tax law over the past years, some local crypto firms reportedly chose to move their business…

Brussels Wants All Crypto Service Providers to Report Transactions of Europeans

[Dec 9, 2022 6:30 AM] The European Commission has set out to oblige platforms processing crypto transactions for EU residents to share information with tax authorities in the Union. According to the proposal, all crypto service providers, regardless of where they are…

Crypto Miners in Kazakhstan to Buy Only Surplus Power, Under Digital Assets Bill

[Dec 8, 2022 1:00 AM] Companies extracting cryptocurrencies in Kazakhstan will be allowed to purchase only excess electricity on a government-controlled market. The decision comes with new legislation approved by lawmakers which regulates the activities of the industry…

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…

New Council at Ukraine’s Securities Watchdog to Draft Crypto Taxation Regulations

[Nov 21, 2022 12:30 AM] A special council under Ukraine’s securities regulator will be tasked to develop rules for crypto taxation in the country. The new body will be also responsible for coordinating the regulation of various crypto activities and adjustments to the…

Bank of Russia Sets Out to Regulate Digital Asset Taxation, Exchange, Still Opposed to Crypto

[Nov 13, 2022 3:00 PM] The Central Bank of Russia supports the development of digital financial assets but remains opposed to legalizing crypto payments, its top management has reiterated. The monetary authority is now working on a set of regulatory proposals that will…

Brussels Set to Begin Talks on EU Crypto Tax, Report Reveals

[Nov 12, 2022 1:30 AM] The European Commission is preparing to discuss with member states the adoption of a common tax regime for crypto assets, European officials have indicated. The talks with national treasuries are expected to start next year with the aim to end the…