The Australian Tax Office’s new rules on DeFi are unclear on whether capital gains taxes apply to liquid staking and transferring to layer 2 bridges. Australia’s tax regulator has been unable to clarify confusing aspects of its new guidance that suggests capital gains tax (CGT) is payable on a slate of everyday decentralized finance transactions.…
Read more
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…
Read more
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…
Read more
Coinbase, the largest cryptocurrency exchange, argues that the U.S. Internal Revenue Service (IRS) proposal regarding cryptocurrency tax regulations could potentially harm both the cryptocurrency industry and the privacy of American citizens…. Read More: Coinbase Raises Concerns Over Proposed IRS Tax Regulations on Crypto Read more »Sign up for e-EUR – the progressive stablecoin
Licensed crypto mining companies have urged the government in Kazakhstan to revise its taxation policy regarding the sector, which they say is in dire straits. The largest mining firms plan to leave the Central Asian nation by the end of this year, warned the members of the industry. Miners Criticize Kazakhstan Government’s ‘Unbalanced’ Tax Rules…
Read more
South Korean tax payers have declared some 131 trillion won (more than $98 billion) of crypto holdings in overseas accounts this year. The amount was announced by the country’s tax agency and it comes after the authorities in Seoul imposed a mandatory reporting requirement for financial assets held abroad. Almost 1,500 South Korean Firms and…
Read more
Japan’s top financial regulator, the Financial Services Agency (FSA) has proposed key amendments to the nation’s tax code relating to profits on digital assets. According to local news outlets, the Agency’s proposal to change the tax code is in line with several calls by industry executives and observers to make a reform on cryptocurrencies. … Read…
Read more
Japan is moving toward crypto tax reforms, with the nation’s top financial regulator set to change the way it taxes domestic crypto firms. Per the Japanese media outlet CoinPost and an official Financial Services Agency (FSA) release, the regulator has submitted legislation-change requests to the government. The FSA wants to modify its crypto corporate tax…
Read more
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: Today in Crypto: India’s Central Bank Proposes AI-powered Conversational Payments System, India Wants to Utilize Crypto to Digitally Sign Documents, UK Recruiting For CBDC Academic Advisory Group Read more »Sign up…
Read more
The U.S. tax department will be requiring taxpayers to count staking rewards as gross income at the time they gain “dominion” over the tokens. United States crypto investors must report crypto staking rewards as gross income in the year it was received, according to a new ruling from the country’s top tax authority. On July…
Read more
