Brazil signs its overseas crypto tax bill into law
[Dec 15, 2023 2:00 AM] Under the new taxes, Brazilian citizens will pay the state up to 15% of their crypto profits.
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US accounting standards board rules will reflect institutional crypto assets' fair value
[Dec 13, 2023 12:58 PM] The U.S. FASB has decided that crypto assets will be represented at their fair value in accounting beginning late next year.
Kenyan crypto tax bill makes it through parliamentary committee
[Dec 5, 2023 6:24 AM] The Capital Markets (Amendment) Bill will now be introduced to the lower chamber of the Kenyan parliament.
IRS team reports rise in crypto tax investigations
[Dec 4, 2023 3:52 PM] According to the fiscal year 2023 report, the IRS unit investigated failures to disclose crypto holdings and report on capital gains for transactions.
Tax services are getting pushy to have crypto declared: Law Decoded, Nov. 27–Dec. 4
[Dec 4, 2023 2:00 PM] Spain and Brazil are chasing cryptocurrency stored abroad, while the U.K. wants taxes paid for crypto assets that weren’t previously declared.
UK crypto hodlers get a call from the tax grinch
[Nov 29, 2023 6:54 AM] His Majesty’s Revenue and Customs has issued a warning to crypto, NFT and utility tokenholders about paying their taxes on time or facing the consequences.
Spanish citizens to declare foreign crypto holdings by end of March 2024
[Nov 28, 2023 4:26 AM] Only individuals with balance sheets exceeding the equivalent of 50,000 euros in crypto assets are obliged to declare their foreign holdings.
Average value of undeclared crypto in Japan dropped 19% in 2022
[Nov 27, 2023 4:25 AM] The number of tax evasion cases featuring crypto assets rose 35% in 2022.
Congress Gets the Runaround From Regulators, Again
[Nov 15, 2023 4:04 PM]
The Global Movement to Promote Crypto Tax Transparency — What You Need to Know
[Nov 15, 2023 9:58 AM] In Europe and the U.S., there are a host of initiatives placing new requirements on participants in digital asset markets to report on transactions and meet other new provisions.
What the IRS Gets Wrong About DeFi and Crypto in Its Latest Tax Reporting Proposal
[Nov 14, 2023 10:26 AM]
Australia to impose capital gains tax on wrapped cryptocurrency tokens
[Nov 14, 2023 2:19 AM] Delivering a major hit to Australian crypto investors, the ATO stated that wrapping or unwrapping tokens — irrespective of their price at the time — will be subject to capital gains tax.
First deadline window looms for SEC to approve Bitcoin ETFs: Law Decoded
[Nov 13, 2023 3:36 PM] Even if approved by Nov. 17, the spot Bitcoin ETFs are unlikely to come to market for at least a month after approval.
Crypto Tax Proposal Open for Revision, IRS Officials' Questions Suggest
[Nov 13, 2023 2:20 PM] While crypto representatives and lawyers cautioned the U.S. Internal Revenue Service (IRS) that its crypto tax proposal is a dangerous and improper overreach, questions posed by a panel of IRS and Department of the Treasury officials at a Monday…
Crypto advocacy group pushes back against proposed IRS rules on brokers
[Nov 13, 2023 2:20 PM] The Blockchain Association claimed the U.S. Treasury overstepped its authority in proposing crypto tax rules difficult or impossible to follow by many in the space.
What Are the Tax Implications of the Alleged Binance Wallet Hack (or Any Crypto Exploit)?
[Nov 13, 2023 2:12 PM]
47 countries pledge to authorize the crypto-asset reporting framework by 2027
[Nov 10, 2023 2:58 AM] The Crypto-Asset Reporting Framework is the new international standard for the automatic exchange of information between tax authorities.
How to manage crypto losses on tax returns in the US, UK and Canada
[Nov 8, 2023 8:55 AM] Unlock the complexities of cryptocurrency taxation and learn how crypto losses impact your tax liability in the United States, United Kingdom and Canada.
Expect new IRS crypto surveillance to come with a surge in confiscation
[Nov 7, 2023 3:37 PM] The Justice Department is claiming that it's "critical" for it to have the power to seize cryptocurrency from Americans — even if a judge never signs off.
Crypto data platform Glassnode sells Bitcoin tax software to Blockpit
[Nov 7, 2023 1:00 AM] After acquiring the crypto tax platform Accointing in October 2022, Glassnode is selling the business to focus on DeFi and institutional offerings.
5 nations challenge crypto experts and investigators to target tax crimes
[Nov 3, 2023 3:27 AM] The J5 generates significant leads through events, which, in the past, has helped uncover multimillion-dollar crypto Ponzi schemes, such as the BitClub Network.
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…
IRS extends comments period for new crypto tax rule to mid-November
[Oct 25, 2023 2:02 AM] The proposed rules are supposed to come into effect in 2026, impacting sales and exchanges conducted in 2025.
IRS proposes unprecedented data-collection on crypto users
[Oct 23, 2023 12:01 PM] The IRS is looking to require crypto service providers to collect unprecedented swaths of data about their users — including names and Social Security numbers.
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…
IRS crypto tax reporting rules threat to industry — Coinbase legal chief
[Oct 19, 2023 2:27 AM] The IRS proposed the new crypto tax reporting rules in August, and if approved, the new crypto tax regime will come into effect from January 2026.
Council of the EU adopts DAC8 crypto tax reporting rule
[Oct 18, 2023 2:50 AM] The eighth iteration of the Directive on Administrative Cooperation was formally adopted by the Council of the European Union.
US lawmakers urge IRS to implement crypto tax reporting requirements before 2026
[Oct 11, 2023 3:45 PM] The crypto tax reporting requirements proposed by the IRS in August are currently scheduled to go into effect in 2026 — according to 7 senators, that isn't soon enough.
CBDC will improve tax collection — Argentine central banker
[Oct 5, 2023 3:03 AM] Juan Agustín D’Attellis Noguera publicly supported Sergio Massa in promoting a central bank digital currency as a remedy for the national economy.
Kazakh crypto miners plead with President to cut energy prices
[Oct 3, 2023 3:40 AM] Eight major cryptocurrency mining operators signed an open letter to the President of Kazakhstan, Kassym-Jomart Tokayev.