Japan is proposing a major reform in its tax regime for crypto assets. If passed, these changes will make digital asset investing simpler for crypto investors.
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The reporting requirements present a “real risk of pushing users toward decentralized platforms,” according to industry insiders.
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The lawsuit alleges that the IRS’ latest rulemaking exceeds the agencies’ statutory authority and violates the Administrative Procedure Act.
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Hong Kong is proposing tax breaks for hedge funds, private equity funds, and wealthy individuals investing in cryptocurrencies. Hong Kong and Singapore Vie for Top Financial Hub Spot Hong Kong authorities have reportedly proposed exempting hedge funds, private equity funds, and wealthy individuals from paying taxes on gains from cryptocurrencies. The proposals, aimed at making […]
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Russia’s new crypto tax law classifies digital currencies as property, exempts mining from VAT, and mandates detailed reporting, signaling a seismic shift in regulation. Russia’s New Crypto Tax Rules Signal a Major Shift in Digital Currency Regulations The Federation Council, Russia’s upper house of parliament, approved a government-initiated bill outlining the taxation framework for digital […]
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Detroit says the move to begin accepting crypto as payment for taxes and other city services was part of a broader effort to “modernize and improve” its payment channels.
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The Nigerian government has dropped charges against a Binance exec, Ripple has filed an appeal, FTX settled with Bybit, and Denmark moves to tax unrealized crypto gains.
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The Dutch government wants to align its data collection rules for crypto service providers with the rest of the EU, saying it would “create more transparency.”
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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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The Kenyan Revenue Authority (KRA) is tightening its grip on cryptocurrency by proposing a real-time tax system integrated with exchanges. This system would track all crypto transactions, capturing details like time and value for tax collection purposes. Beyond real-time taxation, Kenya is considering AI and machine learning to combat tax evasion. These technologies would improve […]
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