Taxes Financial News

03.10 / 10:51

Adoption Mining regulation Asia Taxes Crypto miners Kazakh crypto miners plead with president to cut energy prices

Local crypto-mining operators in Kazakhstan — the world’s third-largest market in terms of Bitcoin mining hash rate — are complaining about high energy prices to the country’s president.

24.09 / 10:45

Taxes ATM Bitcoin How To How to buy Bitcoin in Dubai

Dubai is a magnificent city to live and work in. But how can someone buy Bitcoin in Dubai? Is it legal to buy Bitcoin in Dubai? Is Dubai crypto-friendly?

19.09 / 10:13

regulation Taxes Thailand to start taxing overseas income next year, including from crypto

Thailand’s Revenue Department is planning to impose personal income tax on the foreign revenues, including those made from crypto trading, of any person who resides in Thailand for more than 180 days.

18.09 / 07:41

regulation Senate Taxes Senators 9 US senators publicly back Elizabeth Warren’s crypto bill

Nine United States Senators have added their support to Senator Elizabeth Warren’s Digital Asset Anti-Money Laundering Act, according to a statement from Warren’s office.

14.09 / 18:09

business regulation Enterprise Taxes acquires Bitwave acquires crypto accounting platform Gilded

Crypto winter keeps sparking consolidation among crypto firms. The latest deal in the industry is the acquisition of payments and accounting platform Gilded by one of its competitors, Bitwave.

13.09 / 18:31

regulation European Union Taxes Support EU parliament votes overwhelmingly in support of DAC8 crypto tax reporting rule

Lawmakers in the European Parliament voted overwhelmingly in support of the eighth iteration of the Directive on Administrative Cooperation (DAC8), a cryptocurrency tax reporting rule, in a plenary session on Sept. 13.

09.09 / 17:21

Blockchain Law regulation G20 Taxes global crypto community Framework International G20 moves forward with international crypto framework

Leaders of the 20 biggest economies in the world — collectively known as G20 — are pushing for a speedy implementation of a cross-border framework for crypto assets.

08.09 / 19:31

Government Law regulation Taxes guidance Blockchain Association responds to US lawmakers’ request for crypto tax guidance

The Blockchain Association, a United States-based cryptocurrency advocacy group, has submitted suggestions for lawmakers to consider in potential legislation on the tax treatment of digital assets.

06.09 / 19:21

Binance NFT Airlines Metaverse Taxes Ronaldo hints at NFT plans, and will the metaverse be a ‘tax haven?’: Nifty Newsletter

In this week’s newsletter, read about how German flagship airline Lufthansa uses nonfungible tokens (NFTs) to reward loyal customers and how soccer superstar Cristiano Ronaldo teased his future NFT plans during a lie detector test. Check out why a law professor believes the metaverse should be taxed, and find out how artificial intelligence (AI) and NFTs can provide a personalized learning experience to children. And don’t forget this week’s Nifty News, featuring a Mutant Ape NFT selling for over $800,000 amid an ongoing downward price trend.

06.09 / 07:45

regulation Investments Trading transactions Taxes How To How to handle crypto trading gains and losses on your balance sheet

Currently, no accounting standards are dedicated to crypto assets, so broader guidelines per the International Financial Reporting Standards (IFRS) and Generally Accepted Accounting Practice (GAAP) are applied to cryptocurrency accounting.

05.09 / 10:35

regulation Taxes Japanese regulator seeks to scrap “unrealized gains” tax on crypto

The principal financial regulator of Japan, the Financial Services Agency (FSA), has decided to take crypto regulation into its own hands by proposing to change the tax code regarding digital assets.

04.09 / 19:37

Blockchain NFT regulation Metaverse Taxes Failure to tax the metaverse ‘will create a tax haven’ — Harvard legal expert

Harvard legal scholar and Yeshiva University law professor Christine Kim recently published a research paper detailing arguments for not only taxing the metaverse but treating it as “a laboratory for experimenting with cutting-edge policy.”

01.09 / 19:07

Government regulation Taxes Kentucky regulator denies plan for subsidizing crypto mining facility

The Public Service Commission of the state of Kentucky has denied a proposed contract that would have allowed a mining firm to receive a discounted rate on electricity provided by the power company.

29.08 / 13:13

regulation Taxes Bitcoin Bitcoin Price Indian Indian crypto exchanges CoinSwitch, CoinDCX cut staff amid market slump

CoinSwitch crypto exchange is the latest crypto trading platform in India that cut its workforce amid the prolonged cryptocurrency winter, the local news agency Moneycontrol reported on Aug. 28.

28.08 / 21:33

regulation SEC security Gemini IRS Taxes New tax rules for crypto in the US: Law Decoded

The United States Internal Revenue Service (IRS), which is responsible for tax collection in the United States, has released proposed regulations on the sale and exchange of digital assets by brokers. Under the rules, brokers would be required to use a new form to simplify tax filings and cut down on tax cheating. According to the U.S. Treasury, the regulations bring digital asset reporting into line with reporting on other types of assets.

27.08 / 06:59

Twitter regulation Taxes Bitcoin Crypto community reacts to Biden's proposed crypto tax reporting rules

Several prominent crypto commentators have criticized the new crypto tax reporting rules recently put forth by United States president Joe Biden.

25.08 / 17:17

regulation IRS Taxes Digital Asset IRS releases draft of proposed reporting rules for digital asset brokers

The United States Internal Revenue Service (IRS), the agency responsible for tax collection, released proposed regulations on the sale and exchange of digital assets by brokers. Under the rules, brokers would be required to use a new form to report to simplify tax filing and cut down on tax cheating.

22.08 / 08:49

regulation Upbit Taxes Bithumb Bitcoin South Korean city to seize crypto from thousands of tax evaders: Report

The South Korean city of Cheongju, the capital of North Chungcheong province, has said it intends to begin confiscating cryptocurrency from local tax delinquents.

21.08 / 20:53

regulation IRS Taxes guidance Coin Center responds to US lawmakers’ request for crypto tax guidance

Cryptocurrency advocacy group Coin Center has provided suggestions for United States lawmakers to consider in potential legislation related to the taxation of digital assets.

12.08 / 17:25

regulation Altcoin Taxes Bitcoin Brazil's Congress moves to levy higher taxes on cryptocurrencies

Brazilian lawmakers are moving forward with a legislation that would raise taxes on cryptocurrencies held overseas. According to local reports, a congressional committee has approved amendments to a bill that recognizes cryptocurrencies as "financial assets" for tax purposes in foreign investments.

07.08 / 20:37

regulation IRS FTX Taxes creditors NOT FTX has a plan, but creditors are not impressed: Law Decoded

FTX has outlined its intended reorganization plan, which will categorize claimants of the bankrupt exchange into specific classes and pave the way for it to become operational as an offshore entity. However, a body representing FTX customers said it is “extremely disappointed” by the plan.

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