An artist from Latvia is under investigation for allegedly selling NFTs, or non-fungible tokens, to launder money, for which he may get up to 12 years in prison. The authorities have blocked his bank accounts and launched an investigation without even notifying him. Artist Who Sold Over 3,500 NFTs Prosecuted for Money Laundering in Latvia…
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Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. __________… Read More: Taiwan vs. Crypto, Uprise Might Compensate Some LUNA Losses + More News Read more »Pay, Trade, Buy Bitcoin with Credit Card
Chinese citizens have begun using the digital yuan to pay “inter-city” tax bills – doing away with the need to conduct wire transfers to local tax authorities via banks. Per the China Securities Network and the People’s Daily, the first person to use the digital CNY in such a manner was a man surnamed Qi…
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Kazakhstan’s President Kassym-Jomart Tokayev has approved new tax rates for crypto miners – and tax bodies have been instructed to charge miners at a rate of up to USD 0.052 per kilowatt hour (kWh) as of January 1, 2023. Currently, miners have to pay a flat rate of just over USD 0.002 per kWh consumed.…
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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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Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. __________… Read More: NFT Stamps and Use Cases, Crypto Taxation in UK, Frozen USD 85M + More News Read more »Pay, Trade, Buy Bitcoin with Credit Card
Crypto industry insiders have hit back at the Spanish government’s latest plans for the sector: A fresh effort to make citizens who hold coins on overseas platforms declare their holdings…. Read More: Spanish Crypto Holders to Be ‘Burdened’ with Fresh Crypto Declaration Rules Read more »Pay, Trade, Buy Bitcoin with Credit Card
Crypto trading volumes on major Indian exchanges saw a notable decline on July 1 compared to the day before, after a new 1% tax on all crypto transactions was implemented in the country. However, one exchange still stood out as a winner, with trading volumes rising. According to trading data from the major Indian crypto…
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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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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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