India’s introduction of new crypto taxes had a negative impact on overall trading, forcing entrepreneurs to move to friendlier jurisdictions. The Indian crypto landscape lost some momentum this year as the government introduced two laws demanding crippling taxes on crypto-related unrealized gains and transactions. India’s first crypto law, which requires its citizens to pay a…
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The sale of the Central African Republic (CAR)’s 210,000,000 Sango coins is set to begin on July 25 and participating investors will have to buy tokens worth at least $500. In return for buying and locking in the Sango coins, investors will gain citizenship and a piece of real estate property as well as a…
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President of Kazakhstan Kassym-Jomart Tokayev has signed into law a bill amending the country’s Tax Code to impose higher tax rates on crypto miners. The levy will depend on the amount and average price of electricity utilized in the extraction of digital currencies like bitcoin.
Cryptocurrency Miners in Kazakhstan to Pay Higher Taxes
President…
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The HMRC is asking for input from investors, professionals, and organizations involved in DeFi-related activities. The government of the United Kingdom is asking the public for input on the taxation of crypto asset loans and staking in the context of Decentralized Finance (DeFi). DeFi is an umbrella term that refers to financial applications that are…
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Authorities in Romania are going after investors who failed to report revenues from crypto trading and pay tax. The offensive is part of efforts to respond to financial trends, the country’s tax body said in a statement, unveiling it was able to identify almost €50 million of undeclared crypto gains.
Tax Authority in Romania Verifies…
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The reporting requirements, aimed at reducing the size of the tax gap, were scheduled to take effect in January 2023, with crypto firms sending reports to the IRS starting in 2024. The provision in the U.S. infrastructure bill signed into law in November, which will require financial institutions and crypto brokers to report additional information,…
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Russian lawmakers have approved amendments regulating the taxation of transactions with digital assets. The legislation concerns business operations with cryptocurrencies and tokens. In some cases, the burden for Russian companies will be reduced as compared to foreign entities. Russian Duma Passes Law to Tax Crypto Transactions A bill amending the Tax Code of the Russian…
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Russia is turning to blockchain technology in an effort to counteract the economic isolation brought on by the sanctions imposed due to its invasion of Ukraine. The State Duma, the lower house of the Russian legislature, has passed a bill on the taxation of digital assets that exempts their sale from value-added tax (VAT) in…
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Cryptocurrency wallet firm Exodus has been paying all its staff fully in Bitcoin since launching its software wallet in 2015, CEO JP Richardson said. Major cryptocurrency wallet provider Exodus continues paying its employees in Bitcoin (BTC) despite the ongoing bear market, with the total market cap dropping below $1 trillion on Monday. Since launching its…
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“The volatility is not that bad” – Australia’s Gold Coast Mayor suggests crypto could be used to pay local taxes in the future. Tom Tate, the Mayor of Gold Coast, Australia, has suggested that cryptocurrency could be used by residents to pay local taxes in future years, though critics have flagged volatility and the recent…
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