A Texas Bitcoin investor faces prison for failing to report over $4 million in cryptocurrency gains, setting a legal precedent.
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The Prime Minister said Czech residents would not have to report crypto transactions under $4,200 per year or pay taxes for selling digital assets held for more than three years.
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A Bloomberg report suggested Italian Prime Minister Giorgia Meloni could accept a proposal for a 28% tax hike on crypto rather than a 42% one.
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The Danish Tax Council has recommended what it terms non-backed crypto assets like Bitcoin be taxed similarly to asset-based crypto assets. The council argues the recommendations would allow crypto investors to deduct losses from gains thus making taxation more fair. However, some observers believe this amounts to a “declaration of war on crypto” as it […]
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Italy plans to raise its capital gains tax on bitcoin to 42%, up from 26%, as part of efforts to fund election promises and curb the fiscal deficit. The government cites growing bitcoin adoption as a key factor. This comes as the European Union prepares to implement its Markets in Crypto-Assets Regulation (MiCA), aiming to […]
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Billionaire Mark Cuban warned that taxing unrealized gains would “kill” the stock market but believes Vice President Kamala Harris would not prioritize this policy. While Harris supports parts of President Biden’s tax plan, Cuban emphasized it is not her final stance. He also raised concerns about the policy’s impact on early-stage companies struggling with cash […]
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South African crypto traders have reportedly started receiving notices from the South African Revenue Service (SARS) indicating that their tax affairs are under review. The revenue collector is gathering information from various crypto-asset exchanges to assess compliance. Traders who fail to provide requested information could face criminal charges under the Tax Administration Act. SARS may […]
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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.
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PnL refers to the financial gain or loss from buying and selling cryptocurrencies. To calculate it, use various method like the FIFO, LIFO, YTD, and more!
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The Biden administration wants to apply the wash sale rule to digital assets.
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