Taxes Financial News

19.05 / 17:03

Mining Taxes legislation Bitcoin President Biden’s Crypto Mining Tax “Isn’t Going To Happen,” Sen. Lummis Says

US Sen. Cynthia Lummis is not a fan of President Biden’s proposed 30 percent tax on cryptocurrency miners.

16.05 / 18:17

regulation European Union Taxes MICA Updated European tax directive requires reporting on all crypto asset transfers

The European Council has approved updated rules that extend tax reporting requirements to include transfers of crypto assets. This is the eighth version of the Directive on Administrative Cooperation (DAC), which is a set of procedures for automatic information sharing between European governments for tax purposes.

11.05 / 15:29

Adoption regulation IRS Taxes investigation Bitcoin How the IRS seized $10B worth of crypto using blockchain analytics

Blockchain analysis has been key in helping the United States Internal Revenue Service (IRS) seize an estimated $10 billion worth of cryptocurrency since it began investigating a broad body of crimes involving digital assets.

11.05 / 06:49

regulation SEC Taxes Bitcoin Marathon Bitcoin Miner Bitcoin miner Marathon Digital hit with another SEC subpoena

Bitcoin (BTC) miner Marathon Digital has disclosed that it received another subpoena from the United States Securities and Exchange Commission (SEC) relating to its 100-megawatt data center in Hardin, Montana.

10.05 / 09:49

regulation Taxes Tax reduction end Biden calls to end $18B ‘crypto tax loopholes’ — community begs to differ

United States President Joe Biden recently shared an infographic on Twitter, calling to end “tax loopholes” that allegedly help wealthy crypto investors. Community members responded to the tweet, questioning the figures shared by the president and if the said loopholes exist.

08.05 / 13:21

Government Adoption Europe Taxes Bitcoin services Bitcoin takes flight in Liechtenstein: Minister proposes government services paid in crypto

Liechtenstein Prime Minister Daniel Risch announced plans to accept Bitcoin (BTC) as payment for government services. As reported in local news, the micro-European nation continues to embrace blockchain technologies.

05.05 / 15:35

Mining regulation white house Taxes Electricity Bitcoin Will Biden's plan to tax crypto mining reduce emissions? Critics say no

Cryptocurrency miners based in the United States could soon face a tax equal to 30% of the cost of electricity they use if President Joe Biden’s proposed budget for the fiscal year 2024 is approved by Congress, but the proposal has sparked debate about whether it would actually decrease global emissions and energy prices.

05.05 / 01:45

regulation transactions Africa Taxes Money Transfers remittances Kenya considers tax on crypto, NFT transfers and online influencers

Kenya's lawmakers are considering the introduction of a 3% tax on cryptocurrency and nonfungible tokens (NFTs) transfers and a 15% tax on monetized online content, according to a newly introduced bill.

03.05 / 16:55

Mining white house Tax Taxes White House Council Reignites 30 Percent Tax on Crypto Mining

The White House is pushing to tax cryptocurrency miners to “pay their fair share” for the costs inflicted on local communities and the environment.

03.05 / 05:13

Mining regulation Environment Taxes Bitcoin White House advisors renew push for 30% digital mining energy tax

The Biden administration has renewed its push for a 30% Digital Asset Mining Energy (DAME) tax on cryptocurrency miners, part of efforts to minimize the industry’s alleged impact on climate change.

28.04 / 20:09

Law regulation IRS Research Taxes Framework Tax law researchers propose IRS framework for deducting crypto losses

Researchers at Indiana University and the University of Maine recently published a study examining the current state of cryptocurrency tax law in the United States. The research concludes with recommendations for the Internal Revenue Service (IRS) that, if adopted, would prevent taxpayers from weighing crypto losses against other capital gains.

28.04 / 11:29

Ethereum Adoption regulation IRS Taxes Revolut Bitcoin reports Koinly Revolut taps Koinly for automated cryptocurrency tax reports

As cryptocurrencies increasingly fall under the purview of global tax authorities, digital bank Revolut has integrated an automated tax reporting service for its users.

28.04 / 06:17

defi regulation transactions Taxes legislation UK treasury UK Treasury seeks input on taxing DeFi staking and lending

The tax treatment of lending and borrowing on decentralized finance (DeFi) protocols could soon be changed in the United Kingdom as the taxation arm of the Treasury is seeking input on a possible new regime.

26.04 / 12:31

business Blockchain Deloitte Taxes Digital Asset Digital Asset Management Deloitte on a crypto hiring spree, reveals LinkedIn job postings

According to the latest updates on LinkedIn, Big Four accounting firm Deloitte — which primarily deals in audit, consulting, financial advisory, risk advisory, tax and legal services — is actively seeking individuals with expertise in cryptocurrency to join their team.

21.04 / 16:33

regulation Research Taxes Future The future of crypto taxes: Understanding the ever-changing landscape

A closer look at the current state of crypto taxation worldwide reveals a trend toward increased regulation and maturity, with many governments recognizing the potential benefits of blockchain technology in various sectors. As the blockchain and cryptocurrency industry continues to evolve and gain mainstream adoption, the regulatory landscape surrounding them is also evolving rapidly.

18.04 / 07:33

business Law regulation Trading Taxes Koinly NOT ‘Biggest mistake’ is not using tax loss harvesting: Koinly head of tax

Failing to utilize tax loss harvesting is one of the biggest mistakes people make on their tax returns according to Danny Talwar, the head of tax at crypto tax software firm Koinly.

18.04 / 04:37

Stablecoin regulation coinbase Taxes UK government Sky News Web3 Hub Coinbase to help UK on Web3 hub as Treasury reportedly revives blockchain taskforce

The United Kingdom could "turbocharge" its crypto sector and be an "innovation hub for the Web3 economy" as part of a vision laid out by cryptocurrency exchange Coinbase.

12.04 / 09:55

regulation Taxes Agency Tax Agency Spanish tax agency to send over 328K notices to crypto holders

The State Tax Administration Agency of the Government of Spain (AEAT) increases its efforts to charge the local holders of crypto assets. The AEAT intends to dispatch 328,000 warning notices to those who should pay their taxes on crypto for the 2022 fiscal year.

11.04 / 10:11

Mining regulation Taxes Bitmain Bitcoin Bitcoin mining firm Bitmain reportedly fined for tax violations in China

Beijing-based cryptocurrency mining firm Bitmain has reportedly violated tax regulations in China, with local authorities imposing major fines.

10.04 / 23:35

regulation IRS Taxes Startups Tax reduction tech startups New R&D tax rules could bankrupt your blockchain startup

The new R&D law has overly broad language that states “any and all” software development must be amortized over five years if the development took place in the United States, or over 15 years if the work was done overseas. The change doesn’t sound so bad on its surface; some argue it might even create more tech jobs in the U.S.

05.04 / 14:33

Adoption defi fees Value Taxes Tax reduction MEV Ethereum projects unite to protect users from MEV-induced high prices

Over 27 prominent Ethereum projects joined hands to launch MEV Blocker, a solution that aims to tackle and minimize the amount of value extracted from their users, a.k.a maximally extractable value (MEV) — Ethereum’s invisible tax.

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