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. 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). In a Nov.…
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Even if approved by Nov. 17, the spot Bitcoin ETFs are unlikely to come to market for at least a month after approval. The United States Securities and Exchange Commission (SEC) could approve all 12 pending spot Bitcoin exchange-traded fund (ETF) applications by Nov. 17. Beginning on Nov. 9, the SEC reportedly has a “window”…
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Unlock the complexities of cryptocurrency taxation and learn how crypto losses impact your tax liability in the United States, United Kingdom 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…
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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. As the Internal Revenue Service (IRS) pushes forward with its proposal to increase cryptocurrency surveillance, a past report might offer a clue for how this information may be…
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The J5 generates significant leads through events, which, in the past, has helped uncover multimillion-dollar crypto Ponzi schemes, such as the BitClub Network. The Joint Chiefs of Global Tax Enforcement (J5), a global anti-tax fraud group, hosted investigators, cryptocurrency experts and data scientists in “The Cyber Challenge” event to track down individuals and organizations committing…
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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 overseas platforms. Indian Exchange Expects Government to Reduce Crypto Tax Burden Authorities in New Delhi imposed a…
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The IRS is looking to require crypto service providers to collect unprecedented swaths of data about their users — including names and Social Security numbers. For two years, the cryptocurrency world has been waiting to see how the Internal Revenue Service (IRS) would implement the Infrastructure Investment and Jobs Act. Put simply, this law established new…
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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 between tax administrations across the bloc. Information Sharing Between National Tax Administrations in EU to Cover Crypto Assets The…
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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. 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.…
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The eighth iteration of the Directive on Administrative Cooperation was formally adopted by the Council of the European Union. 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…
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