India Keeps Stiff Taxes on Crypto as Interim-Budget Is Revealed in Election Year
[Feb 1 1:18 AM] India has not introduced any changes to the controversial tax deducted at source (TDS) affecting the crypto industry.
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Indonesia's Crypto Tax Revenue Falls 63% in 2023 Despite Bitcoin's Surge
[Jan 24 3:33 AM] The country's tax revenue in 2023 was substantially lower than 2022, when the tax regime was introduced.
Indonesian Crypto Exchanges Blame Dramatic Drop in Trading Volumes Partly on High Taxes
[Jan 17 3:23 AM] Indonesian crypto exchanges saw a sharp 60% drop in trading volumes in 2023, challenging its reputation as a fast adopter of digital assets.
New US Crypto Tax Law, SEC Still Processing BTC ETFs, Saylor Buys More BTC, and More — Week in Review
[Jan 7 6:30 AM] The U.S. introduces stringent tax reporting laws for transactions over $10,000, while the SEC grapples with a backlog of paperwork for pending spot Bitcoin ETFs. Meanwhile, Michael Saylor sells Microstrategy shares to increase his bitcoin holdings…
India's Local Crypto and Web3 Advocacy Body Asked for Action Against Offshore Entities: Source
[Dec 29, 2023 9:49 AM] The Bharat Web3 Association's (BWA) Chairman wrote the letter to the Indian government on Dec. 16.
Vladimir Putin's Signature Brings Digital Ruble Into Russia's Tax Code
[Dec 21, 2023 12:24 AM] Russia's digital ruble has been integrated into the nation's tax code after its President Vladimir Putin signed the move into law.
TaxWraps: Unwrap the Financial Gift of Tokenization This Christmas
[Dec 20, 2023 10:45 AM] As tokenization takes hold, we propose a way to defer tax liabilities, bringing the tax efficiencies of ETFs to a wide market.
Crypto Accounting and Tax Reporting Platform TRES Raises $11M to Add New Blockchains
[Dec 20, 2023 8:00 AM] TRES currently services clients with combined assets worth $19 billion, helping them manage, monitor and reconcile their digital asset activity across over 100 layer-1 and layer 2-blockchain networks
Crypto Tax Planning: Merging Tax-Loss Harvesting With Charitable Giving
[Dec 18, 2023 6:15 PM] As the year winds down, cryptocurrency investors can combine tax-loss harvesting with cryptocurrency donations to charities, a move that optimizes tax benefits while supporting worthy causes. Embrace Year-End Tax Strategy With Charitable Giving…
IRS tax bill will swipe creditors of any ‘meaningful recovery,' says FTX
[Dec 11, 2023 10:05 PM] FTX Trading said the firm “never earned anything anywhere near the amount” that would justify a $24 billion tax bill.
Crypto is the ‘largest growing’ asset class in Aussie DIY pensions
[Nov 30, 2023 4:40 PM] Australians are increasingly adding cryptocurrency to their “self-managed super funds” as a means to secure their retirement life, according to newly released data.
Brazil to Impose 15% Tax on Crypto Earnings Held on Offshore Exchanges: Report
[Nov 30, 2023 11:18 AM] The bill is awaiting presidential approval.
UK Won’t Excuse Ignorance in the Hunt for Unpaid Crypto Taxes, Experts Say
[Nov 30, 2023 10:46 AM] The government could use a number of different ways to track down crypto tax evaders, CoinDesk was told.
UK to Hit Crypto Users With Penalties for Unpaid Taxes
[Nov 29, 2023 4:46 AM] The Treasury encouraged users to voluntarily disclose unpaid income or capital gains tax from crypto, NFT and utility token holdings.
Latam Insights: Milei Wins Runoff Election, Vows to Eliminate Central Bank in Argentina; Drex to Encourage Tokenization
[Nov 27, 2023 12:30 AM] Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue: Libertarian Javier Milei wins the runoff election in Argentina, reinforcing his intention of eliminating…
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.
1 Way to Revive Dead NFT Wallets
[Nov 22, 2023 10:02 AM] Conceptual artist and legal scholar Brian Frye says inaccessible crypto tokens cannot be sold, but can be donated — with potentially significant tax benefits.
U.S. Lawmakers Urge Treasury to Revise Proposed Crypto Tax Rules
[Nov 16, 2023 12:56 AM] A letter by a bipartisan group of U.S. lawmakers has urged the U.S. Treasury to revise its proposed digital-assets taxation regime.
Australia Updates Its Capital Gains Tax Guidance to Include Wrapped Tokens and DeFi
[Nov 14, 2023 5:06 AM] Australia's tax authority has clarified that its capital gains tax on crypto products also extends to wrapped tokens or token interaction with decentralized (DeFi) lending protocols.
IRS 'Raided' by Crypto Investors as Industry Puts Up Fight Against U.S. Tax Proposal
[Nov 13, 2023 7:30 AM] The U.S. Internal Revenue Service (IRS) is gathering the final words now from a crypto sector that is arguing the agency's proposal for a digital-assets taxation regime is an existential threat to investor privacy and to decentralized crypto…
India's Controversial Crypto Tax Should Be Cut After Failing to Achieve Aims, Think Tank Urges
[Nov 9, 2023 5:28 AM] India's most controversial crypto tax, the 1% TDS levy deducted at source, should be lowered to 0.01%, according to the findings of a new study.
Crypto Tax Platform Blockpit Buys Rival Accointing From Glassnode
[Nov 7, 2023 2:43 AM] The "multi-million dollar" acquisition gives Austria-based Blockpit a footprint in the U.K.
Crypto Exchange Wants to See India Lower Tax on Trading
[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…
Tax Authorities in EU to Share Transaction Data Reported by Crypto Firms
[Oct 19, 2023 5:30 AM] New EU rules will introduce automated exchange of information on crypto revenues reported by service providers in the sector. A new directive adopted by the Union expands existing registration and reporting obligations as well as cooperation…
EU Formally Agrees on New Crypto Tax Data Sharing Rules
[Oct 17, 2023 10:52 AM] The finalized rules, set to be published in the EU's official journal, force crypto firms to report on customers' holdings to be shared between tax authorities.
Taiwanese Crypto Trader's 6-Cent Fee Leads to $310K Win in Tax-Receipt Lottery
[Oct 5, 2023 10:20 AM] Sometimes, being tax-compliant pays off.
Crypto Miners Blame ‘Exorbitant Taxes’ for Kazakhstan Exodus
[Oct 2, 2023 12:00 AM] Licensed crypto mining companies have urged the government in Kazakhstan to revise its taxation policy regarding the sector, which they say is in dire straits. The largest mining firms plan to leave the Central Asian nation by the end of this year…
South Koreans Report Over $98 Billion in Overseas Crypto Assets
[Sep 21, 2023 2:30 AM] South Korean tax payers have declared some 131 trillion won (more than $98 billion) of crypto holdings in overseas accounts this year. The amount was announced by the country’s tax agency and it comes after the authorities in Seoul imposed a…
South Koreans Hold $99B of Digital Assets Overseas: Tax Service
[Sep 20, 2023 7:18 AM] The crypto held in overseas accounts for about 70% of all assets held outside the country.
Why Wealth Managers Are Choosing These Crypto Accounts
[Sep 6, 2023 9:45 AM] Separately managed accounts have seen explosive growth in TradFi, and there are benefits in crypto, too.