Ukrainian regulators are prepared to start taxing crypto gains at 18% from 2024, with lawmakers set to vote on proposals this fall. Per Forbes Ukraine, the National Commission for Securities and the Stock Market is set to unveil a draft law, which will be set before lawmakers at the next parliamentary session. The market regulator’s…
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ConsenSys, the company behind the popular self-custodial crypto wallet MetaMask, has denied allegations that it collects taxes from users. In a Saturday tweet, the company clarified that the rumors were based on ”inaccurate information” drawn from a misreading of MetaMask’s terms of service…. Read More: MetaMask ‘Does Not Collect Taxes On Crypto Transactions’ Says ConsenSys in…
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US President Joe Biden has said he is not willing to ink a debt ceiling agreement that would benefit crypto traders. During the final day of G7 talks in Japan, Biden addressed the budget negotiations, claiming that the proposed terms by Republican leaders are “unacceptable.” “I’m not going to agree to a deal that protects…
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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: Today in Crypto: Bank of England to Reject Revolut’s Banking Licence Application, ASX Abandons Blockchain, HashKey to Raise Funds at $1BN Valuation, Ledger Co-founder Calls Recover Service Launch a ‘Horrible Mess’…
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Russia’s tax administration is going to be tasked with overseeing the crypto industry in the country, a high-ranking government official has indicated. According to the regulatory concept that’s currently under consideration, the revenue service will also serve as an entry point for market participants. Russians to Report Crypto Holdings and Transactions to Their Tax Service…
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Russian lawmakers intend to soon approve four bills designed to regulate various aspects of cryptocurrencies, a high-ranking member of the Russian parliament announced. Meanwhile, Russian companies are already using digital assets in cross-border settlements, the official noted. Russian Legislature to Vote on Crypto Laws by End of July The State Duma, the lower house of…
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US President Joe Biden critiqued “wealthy crypto investors” in a tweet on Tuesday discussing what “MAGA House Republicans” want to cut in the federal budget. “We think Congress should cut tax loopholes that help wealthy crypto investors ($18 billion),” President Biden said. “MAGA Republicans think Congress should cut food safety inspections ($15 billion).” MAGA stands…
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The government of Kazakhstan has collected over $7 million in taxes this and last year from enterprises mining cryptocurrency in the country. The news comes amid growing regulatory pressure that is limiting the industry’s access to low-cost energy while increasing its tax burden. Miners Face Higher Expenses, More Challenges Under New Legislation Kazakhstan’s coffers have…
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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: Today in Crypto: Voyager Might Start Fund Distribution in ‘Few Weeks’, Jack Dorsey’s Cash App Posts $2.16B in BTC Revenue for Q1, UK Continues Crypto ATM Crackdown Read more »Sign up…
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A bill introduced in Kenya could see a tax added to cryptocurrency and NFT transfers and has been met with a mixed reaction online. Kenya’s lawmakers are considering the introduction of a 3% tax on cryptocurrency and nonfungible token transfers and a 15% tax on monetized online content, according to a newly introduced bill. Introduced…
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