Japanese Crypto Issuers Won't Pay Taxes on Unrealized Gains, Govt. Clarifies
[Jun 26, 2023 3:57 AM] Token issuers in the country were subject to a 30% corporate tax for unrealized gains on their own tokens.
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Crypto Companies in Japan Get Tax Relief Under Revised Rules
[Jun 26, 2023 2:30 AM] The tax administration of Japan has provided an exemption to companies issuing cryptocurrencies under a revision of the corporate tax rules. A local crypto media report described the move as a step toward improving the business environment for the…
Indian Crypto Exchanges Are in Survival Mode, Trying to Extend Their Runways
[May 28, 2023 8:00 PM] India’s CoinDCX, CoinSwitch, WazirX, BuyUCoin, ZebPay and Giottus all think they'll survive the current bear market – here’s how.
Tax Authority Slated to Become Main Crypto Regulator in Russia
[May 17, 2023 4:25 AM] Russia’s tax administration is going to be tasked with overseeing the crypto industry in the country, a high-ranking government official has indicated. According to the regulatory concept that’s currently under consideration, the revenue service…
Russian Companies ‘Actively’ Using Crypto, Russia to Adopt 4 Relevant Laws, Official Says
[May 14, 2023 2:00 AM] Russian lawmakers intend to soon approve four bills designed to regulate various aspects of cryptocurrencies, a high-ranking member of the Russian parliament announced. Meanwhile, Russian companies are already using digital assets in cross-border…
EU Crypto Tax Plans Include NFTs, Foreign Companies, Draft Text Shows
[May 12, 2023 6:32 AM] Laws set to be agreed next week would require crypto companies to register with tax authorities, even if they’re based outside the bloc or offering non-fungible tokens.
New Rules on Sharing Crypto Tax Data ‘Unanimously Supported’ by EU Members
[May 10, 2023 7:04 AM] Officials are optimistic finance ministers will formally agree on laws allowing the sharing of information on crypto and NFT holdings between tax authorities next week.
Crypto Miners Pay Kazakhstan $7 Million in Taxes Amid Uncertain Future for Sector
[May 5, 2023 5:30 PM] The government of Kazakhstan has collected over $7 million in taxes this and last year from enterprises mining cryptocurrency in the country. The news comes amid growing regulatory pressure that is limiting the industry’s access to low-cost energy…
Kenya considers tax on crypto, NFT transfers and online influencers
[May 4, 2023 7:41 PM] A bill introduced in Kenya could see a tax added to cryptocurrency and NFT transfers and has been met with a mixed reaction online.
3% Tax on Crypto Transfers Part of Kenya's Proposed Budget: Bloomberg
[May 4, 2023 6:20 PM] Kenya's Finance Ministry, the National Treasury, has proposed a 3% tax on the transfer of digital assets for the coming budget year.
White House advisors renew push for 30% digital mining energy tax
[May 2, 2023 10:50 PM] The May 2 blog post by the White House’s Council of Economic Advisers (CEA) has already attracted strong criticism from the community.
White House Pushes for Punitive Tax on Crypto Mining
[May 2, 2023 3:58 PM]
UK Crypto Tax Advisers Welcome Proposed Changes to DeFi Lending, Staking Treatment
[May 2, 2023 4:47 AM] The country’s tax authority is consulting the public on new rules it said are aimed at reducing the burden on crypto users.
Crypto Tax Guidance Could Come 'in 12-ish Months,' Says IRS Official
[Apr 28, 2023 3:18 PM] The IRS' point person for taxation of cryptocurrencies stresses need for community engagement at Consensus 2023
Revolut taps Koinly for automated cryptocurrency tax reports
[Apr 28, 2023 4:35 AM] Revolut has partnered with Koinly to integrate cryptocurrency tax report services for users.
UK Tax Authority Proposes Changes to Treatment of DeFi Lending, Staking
[Apr 27, 2023 7:45 AM] The proposed framework, now open for public consultation, will also apply to crypto lending and staking through intermediaries, the authority said.
Sweden Drives Final Nail Into Its Bitcoin Mining Industry With Tax Hike
[Apr 14, 2023 9:39 AM] The 6,000% increase in taxes per kilowatt hour of energy will likely kill any potential bitcoin mining investments in the country.
China Fines Bitmain $3.6 Million for Tax Violations, Report
[Apr 12, 2023 11:30 PM] Chinese authorities have fined leading crypto mining hardware manufacturer Bitmain for tax-related violations, local media reported. The penalty comes amid increasing tax checks in the digital asset sector, according to information from the crypto…
Japan Approves Web3 White Paper to Promote Industry Growth in the Country
[Apr 6, 2023 3:51 AM] The white paper proposes more tax reform, clearer accounting standards and a DAO law.
Bitcoin Profits Deemed Taxable by Denmark’s Supreme Court
[Apr 1, 2023 3:30 PM] Profits from the sale of cryptocurrencies like bitcoin are taxable, according to two rulings by the Supreme Court of Denmark. The verdicts in the cases, which involve crypto purchases and payments as well as income received from bitcoin mining…
Tax Benefits for Bitcoin Businesses in Belarus Extended Until 2025
[Apr 1, 2023 4:30 AM] Tax exemptions for companies and individuals legally working with cryptocurrencies in Belarus will remain in place until Jan. 1, 2025. A new presidential decree extends the tax cuts introduced in 2018 when the executive power in Minsk legalized…
FTX’s Bankman-Fried Is Allegedly Using Alameda Funds to Pay for Legal Defense
[Mar 29, 2023 4:00 PM] According to two sources close to FTX, Sam Bankman-Fried, the disgraced co-founder, gave his father, Stanford Law professor Joseph Bankman, millions of dollars. The funds are reportedly being used to pay for legal costs. The sources said that…
El Salvador President Bukele to Introduce Bill That Would Eliminate Taxes on Technology Innovations
[Mar 24, 2023 6:24 AM] The bill will strip technology innovations such as software programming, coding, apps and Artificial Intelligence development from tax obligations on income, property, capital gains and import tariffs, Bukele said in the tweet.
Argentine Tax Authority AFIP Detects Irregularities in 184 Digital Wallet Tax Statements
[Mar 20, 2023 11:30 PM] The Argentine tax authority (AFIP) is increasing its scrutiny when it comes to digital wallets. The institution recently revealed it found irregularities in at least 184 tax statements that include digital wallets and cryptocurrencies. These…
Russian Crypto Industry Queries Government About Proposed Criminal Liability for Miners
[Mar 17, 2023 10:30 PM] The organization representing Russia’s crypto sector has asked the government in Moscow to clarify a proposal to introduce criminal liability for “gray” miners. The draft legislation seeks to punish those who fail to report their income to…
Study Shows QR and Digital Payments Continue Gaining Ground in Argentina
[Mar 14, 2023 1:30 AM] A recent study made by Fiserv, a global payments company, shows that QR and digital wallets have grown significantly as payment options in Argentina. While credit card preference has stagnated, the use of cash for payments has decreased, with only…
Revised Bill Suggests Prison Time for Russian Crypto Miners Evading Taxation
[Mar 12, 2023 2:30 AM] A draft law designed to regulate crypto mining in Russia introduces harsh penalties for miners failing to report digital assets to the state. In its latest revision, the bill also threatens to punish those who organize illegal trading of…
Biden Budget Proposal Targets Crypto Investors Using Like-Kind Exchange Provision; Plan Aims to Tax Crypto Miners 30%
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.
NFT Creators Investigated in Israel for Alleged Tax Evasion
[Mar 6, 2023 1:30 AM] Israel’s tax authority is after two creators of non-fungible tokens (NFTs) suspected of failing to report almost $2.2 million in revenue. The news of the investigation comes after the recent arrest of a graphic designer from Tel Aviv accused…