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The Urgent Need for Bitcoin Tax Reform to Encourage Everyday Use

[Sep 16 4:21 PM] The debt based monetary system has become quite extreme. On one hand, the US crossed the $35 trillion national debt milestone, placing a $104k burden on every US citizen. On the other hand, the Congressional Budget Office (CBO) puts federal…

Bitcoin Investor Faces Prison Time for Underreporting Crypto Gains

[Sep 15 1:30 AM] A bitcoin investor has pleaded guilty to underreporting his cryptocurrency gains, including $3.7 million from BTC sales, resulting in a tax loss to the Internal Revenue Service (IRS) of over $550,000. The Department of Justice emphasized that…

Brazilian Tax Watchdog Uses AI Tool to Identify Operations Linked to Over $180 Million in Crypto-Related Tax Fraud

[Sep 10 7:00 AM] The Federal Revenue Service, the Brazilian tax watchdog, recently revealed that it has been using an in-house tool that leverages AI to detect money laundering and tax evasion transactions involving crypto. The tool has already been proven useful…

South Africa Leverages AI to Track Down Tax-Dodging Crypto Traders

[Sep 6 11:20 AM] The South African government is tightening its grip on cryptocurrency trading. Tax authorities (SARS) are issuing tax notices and clarifying regulations, likely using AI to identify non-compliant traders. The central bank meanwhile has clarified…

New Zealand Seeks to Adopt OECD’s Crypto Asset Reporting Framework

[Aug 28 5:30 PM] The New Zealand government has introduced a bill to implement the OECD’s Crypto Asset Reporting Framework (CARF). This framework aims to increase transparency in the crypto asset market. Effective April 1, 2026, New Zealand-based crypto-asset…

Thai Authorities Raid Illegal Bitcoin Mine After Power Outages Spark Resident Complaints

[Aug 26 5:30 AM] Thai authorities successfully raided an illegal bitcoin mining operation in Ratchaburi on August 23. The raid came after residents reported frequent power outages. The bitcoin mining operation was found to be consuming electricity that the…

Insiders Report Report Kamala Harris Backs Biden’s Plan to Tax Unrealized Gains

[Aug 21 1:30 PM] As Kamala Harris eyes the presidency, reports highlight the Harris-Walz campaign’s backing of President Joe Biden’s budget proposal. This plan seeks to raise capital gains to 44.6% and introduces a 25% minimum tax on unrealized gains for Americans…

Binance’s return to India comes with $86M tax demand

[Aug 20 1:32 PM] While Indian AML agencies have given Binance the green light to resume operations, authorities are still seeking $86 million in tax liabilities from the firm.

IMF execs float raising crypto mining electricity prices by 85%

[Aug 16 1:44 AM] A tax on the energy used by crypto miners could cut emissions by 100 million tons a year, equal to Belgium’s emissions, say two IMF executives.

Senate proposal for crypto tax exemption is long overdue

[Aug 13 7:06 PM] Four senators are fighting to exempt low-value crypto transactions from federal taxation. Congressional approval for their proposal is long overdue.

IRS Unveils Overhauled Crypto Tax Form With No Address Disclosure Requirements

[Aug 10 6:05 PM] The U.S. Internal Revenue Service (IRS) has unveiled an updated Form 1099-DA for reporting digital asset transactions, introducing key changes that may address past criticism and privacy issues. This new version, reportedly set to be partially…

IRS updates draft of crypto reporting form for US taxpayers

[Aug 9 9:55 PM] The latest draft form eliminated asking US taxpayers the time of day a crypto transaction occurred and identifying the “broker type.”

Binance Hit With $87 Million Tax Bill in India

[Aug 6 3:16 PM] Global crypto exchange Binance has received a goods and services tax (GST) bill of Rs 722 crore ($87 million) in India for non-compliance with the country’s tax regulations. This is the first instance of a cryptocurrency firm facing such…

India demands $86M from Binance in unpaid GST taxes

[Aug 6 8:11 AM] Binance faces a demand for nearly $86 million in unpaid GST from Indian authorities, aiming to resume operations after a previous ban.

Binance Has Challenged India's $86M Tax Showcause Notice: Source

[Aug 6 6:55 AM] Binance, the world's largest cryptocurrency exchange, has "challenged" a nearly $86 million tax notice from India's Directorate General of Goods and Services Tax Intelligence (DGGI), a person directly involved with the matter told CoinDesk.

Indian Survey Reveals Impact of Crypto Taxes and Anti-Money Laundering Rules on Investors

[Aug 2 6:25 AM] India should consider revising its taxes on crypto and not depend on its anti-money laundering rules to reverse the impact of those high taxes, a survey of Indian investors by a New Delhi-based technology policy think tank revealed.

Senator Cynthia Lummis releases report attacking Biden’s mining tax

[Jul 23 3:46 PM] The pro-crypto senator claimed that Bitcoin mining consumes as much energy as household appliances such as tumble dryers.

India Maintains Crypto Tax Regulations in 2024/25 Budget

[Jul 23 9:16 AM] Indian Finance Minister Nirmala Sitharaman’s 2024-25 Union Budget keeps the existing cryptocurrency tax regulations unchanged, disappointing local crypto advocates. They argue that reducing the 1% tax deducted at source (TDS) is essential for…

India Unlikely to See Crypto Tax Reduction in Tuesday's Budget

[Jul 22 3:41 AM] India is unlikely to introduce any changes to its controversial tax-deducted-at-source (TDS) policy on Tuesday when Finance Minister Nirmala Sitharaman reveals her budget for 2024-2025, experts predicted.

South Korea Considers Deferring Crypto Taxation Until 2028

[Jul 16 11:30 PM] The ruling party of South Korea is, once again, considering the postponement of the enactment of crypto-specific taxes, as this could influence public opinion towards the government. The party aims to implement these taxation rules by 2028, citing…

Treasury and IRS Announce Digital Asset Tax Reporting Regulations

[Jun 30 1:21 PM] The U.S. Department of the Treasury and the IRS have released final regulations for tax reporting on digital asset sales, as part of the Biden-Harris administration’s implementation of the Infrastructure Investment and Jobs Act. Additionally, the…

IRS reveals final regulations for crypto broker rules

[Jun 28 5:20 PM] The Internal Revenue Service did not include decentralized exchanges or self-custodial wallets under its broker reporting requirements.

US Lawmaker Pushes Bill to Allow Bitcoin Payments for Federal Income Taxes, Citing El Salvador’s Success

[Jun 26 2:30 PM] U.S. Congressman Matt Gaetz has introduced a bill to allow federal income taxes to be paid with bitcoin. Inspired by El Salvador’s success with the cryptocurrency, the lawmaker believes this move will modernize the U.S. tax system, promote…

Turkey denies plans to tax crypto, stock gains

[Jun 5 12:00 PM] Turkey has dismissed levies on profits from stocks and cryptocurrencies but is exploring a transaction tax as part of efforts to regulate the tax on financial transactions.

Swissaid Study: Three Quarters of Africa’s Artisanal Gold Goes Undeclared for Export

[Jun 5 5:20 AM] Between 72% and 80% of Africa’s total artisanal gold production is often undeclared for export, a new study has found. A significant portion of this gold is said to often end up in major gold-importing countries, such as the United Arab Emirates…

FTX reaches $200M settlement with IRS on tax bill

[Jun 4 11:05 AM] The agreement, which is subject to a court approval, resolves a major hurdle for FTX bankruptcy process.

Canada’s Tax Agency Targets $40M in Uncollected Crypto Taxes as Trudeau Seeks Major Capital Gains Hike

[May 13 11:20 PM] Based on a report by the National Post, Canada’s Revenue Agency (CRA) is actively searching for uncollected taxes on cryptocurrencies. The agency estimates that there is nearly $40 million in undeclared taxes related to digital currencies…

Australian Tax Office Seeks Personal, Transaction Details from 1.2 Million Cryptocurrency Users

[May 8 1:29 AM] The Australian Tax Office reportedly has requested that cryptocurrency exchanges share both personal and transaction details of as many as 1.2 million cryptocurrency users. The revenue collector recognized that some users are fulfilling their tax…

Turkish crypto bill: 5 things to know before it’s introduced

[May 6 6:18 AM] Turkey was expected to introduce crypto legislation in early 2024, but the local parliament is yet to report on the process.

Proposed US bill wouldn’t allow taxing block rewards at acquisition

[May 1 2:00 PM] If incorporated into U.S. tax law, the bill would require block rewards from proof-of-work and proof-of-stake networks to be taxed when sold rather than when they were acquired.