Taxes Financial News

11.01 / 15:01

cryptocurrency Taxes Bitcoin 2024 Cryptocurrency and Taxes: A Guide for the 2023-2024 US Tax Season

If one thing in life is certain, it’s that we all have to pay taxes. Therefore, it’s important for cryptocurrency holders and investors to understand everything involved when it comes to crypto and taxes . This is becoming even more critical as digital assets gain mainstream adoption .

22.05 / 18:13

markets Digital Taxes Trade crypto tax country innovations Minimizing Crypto Taxes: Top Countries With Lowest Tax Rates in 2024

The landscape of crypto taxes is varied and dynamic, with some nations emerging as particularly friendly to crypto investors and traders.

29.11 / 12:58

regulation Taxes UK crypto UK crypto hodlers get a call from the tax grinch

His Majesty’s Revenue and Customs (HMRC) has issued a stern warned crypto users that they must declare and pay their taxes on digital assets within a strict timeframe, or face the consequences. The tax office issued guidance on how to go about declaring and paying taxes on their crypto holdings published on Nov. 29, starts with a clear warning:

28.11 / 14:53

Adoption regulation Survey Taxes 2024 end Spanish citizens to declare foreign crypto holdings by end of March 2024

Spanish residents holding any crypto assets on non-Spanish platforms will have to declare them by March 31, 2024, under new laws governing the taxation of virtual assets.

27.11 / 10:45

regulation Taxes Average value of undeclared crypto in Japan dropped 19% in 2022

According to Japan’s tax authorities, the average value of undeclared income in crypto fell by 19% in 2022.

26.11 / 19:05

Ethereum Investments Taxes ATM Bitcoin How To How to buy Bitcoin and Ethereum in the UK

To navigate the process of buying Bitcoin effectively, it is essential to explore secure options. In the United Kingdom, acquiring cryptocurrencies is legal, yet it can pose challenges, as the government underscores the need to comprehend the associated risks.

24.11 / 21:19

defi Hackers Cybersecurity security Taxes FBI Tax Agency KyberSwap attacker used ‘infinite money glitch,’ Australia’s tax agency won’t clarify DeFi rules: Finance Redefined

Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week.

24.11 / 02:23

defi regulation Taxes Tax Agency crypto rules Australia’s tax agency won’t clarify its confusing, ‘aggressive’ crypto rules

Australia’s tax regulator has been unable to clarify confusing aspects of its new guidance that suggests capital gains tax (CGT) is payable on a slate of everyday decentralized finance transactions.

14.11 / 08:30

Adoption regulation Tokens Taxes Australia to impose capital gains tax on wrapped cryptocurrency tokens

The Australian Taxation Office (ATO) has issued guidance on capital gains tax (CGT) treatment of decentralized finance (DeFi) and wrapping crypto tokens for individuals, clarifying its intent to continue taxing Australians on capital gains when wrapping and unwrapping tokens.

13.11 / 23:29

regulation IRS Taxes Crypto advocacy group pushes back against proposed IRS rules on brokers

The Blockchain Association, a United States-based cryptocurrency advocacy group, has submitted a comment letter mainly in opposition to tax regulations proposed by the Internal Revenue Service (IRS).

10.11 / 10:29

regulation Taxes OECD 47 countries pledge to authorize the crypto-asset reporting framework by 2027

Just under 50 national governments have issued a joint pledge to “swiftly transpose” the Crypto-Asset Reporting Framework (CARF), the new international standard on automatic exchange of information between tax authorities, into their domestic law systems. The statement was published on Nov. 10.

09.11 / 14:17

regulation Taxes Laos military says country's crypto operators owe $20M in unpaid taxes

In an effort to boost state revenues, Laos appears to be turning its attention to the country's crypto sector.

08.11 / 15:13

regulation Taxes How To Returns How to manage crypto losses on tax returns in the US, UK and Canada

Cryptocurrency taxation is a subject of increasing importance, with governments worldwide working diligently to establish clear rules for taxing digital assets. In the United States, the United Kingdom, and Canada, crypto holders navigate complex regulatory landscapes, making it crucial to understand how crypto losses are taxed and their potential impact on tax liability. Whether new to crypto trading or with years of experience, reporting income and paying applicable taxes in compliance with local regulations is essential.

07.11 / 08:29

regulation Analysis Taxes Bitcoin Crypto data platform Glassnode sells Bitcoin tax software to Blockpit

Cryptocurrency intelligence firm Glassnode has said it’s dropping crypto tax-related projects to focus on new solutions targeting institutional investors and decentralized finance (DeFi).

01.11 / 02:25

business Law regulation SEC crimes Court Taxes tax evasion Oyster Protocol founder gets 4 years jail for $5.5M tax evasion

Amir Bruno Elmaani, the 31-year-old founder of the now-defunct cryptocurrency scheme Oyster Protocol has been handed the maximum sentence of four years in prison for tax evasion.

30.10 / 09:49

regulation IRS Kraken Taxes Kraken will share data of 42,000 users with IRS

United States-based cryptocurrency exchange Kraken said it will share the data of 42,000 users with the U.S. Internal Revenue Service (IRS) in compliance with a court order. The information will be sent to the IRS in early November.

25.10 / 08:41

regulation IRS Taxes IRS extends comments period for new crypto tax rule to mid-November

The United States Internal Revenue Service (IRS) has extended the commentaries period for crypto tax reporting rules proposed in August 2023. The public consultation will last until Nov. 13.

19.10 / 12:40

Blockchain regulation IRS Taxes Bitcoin Threat IRS crypto tax reporting rules threat to industry — Coinbase legal chief

Coinbase crypto exchange chief legal officer Paul Singh Grewal called upon the crypto community to join the movement against the United States Treasury’s proposed tax reporting regulations on cryptocurrencies. Grewal urged the community to oppose the proposed regulations as it could set a dangerous precedent for surveillance.

18.10 / 09:33

regulation Europe European Union Taxes Council of Europe adopts DAC8 crypto tax reporting rule

The eighth iteration of the Directive on Administrative Cooperation (DAC8), a cryptocurrency tax reporting rule, was formally adopted by the Council of the European Union on Oct. 17. The regulation will enter into force after it's published in the Official Journal of the EU.

11.10 / 21:55

regulation IRS Taxes US lawmakers US lawmakers urge IRS to implement crypto tax reporting requirements before 2026

Seven members of the United States Senate have called on the Treasury Department and Internal Revenue Service (IRS) to advance a rule imposing certain tax reporting requirements for crypto brokers “as swiftly as possible”.

05.10 / 10:19

CBDC Adoption regulation Taxes CBDC will improve tax collection — Argentine central banker

Juan Agustín D’Attellis Noguera, a director of Banco Central de la República Argentina, the country’s central bank, publicly supported the Minister of Economy Sergio Massa in his promotion of central bank digital currency (CBDC) as a remedy for the national economy.

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