cryptocurrency tax – DIGIT INFO

Decentralized platforms may benefit from strict US crypto tax laws

DIGIT — Thu, 16 Jan 2025 14:05:58 +0000

The reporting requirements present a “real risk of pushing users toward decentralized platforms,” according to industry insiders.

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Greek gov’t to impose crypto taxes starting 2025

DIGIT — Thu, 18 Jul 2024 12:58:43 +0000

Currently gains on crypto profits are going untaxed and unrecognized by the Greek government – but not for long as regulators are seeking new taxes on the industry early next year.

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Australian Tax Office Seeks Personal, Transaction Details from 1.2 Million Cryptocurrency Users

DIGIT — Wed, 08 May 2024 07:45:58 +0000

The Australian Tax Office reportedly has requested that cryptocurrency exchanges share both personal and transaction details of as many as 1.2 million cryptocurrency users. The revenue collector recognized that some users are fulfilling their tax obligations unknowingly, but maintained that others are intentionally avoiding payment. Australian Tax Office Targets 1.2 Million Cryptocurrency Users The Australian […]

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Portugal proposes 28% tax on annual crypto trading profits next year

DIGIT — Tue, 11 Oct 2022 09:51:11 +0000

The cryptocurrency tax haven could see taxes levied on profits realized from cryptocurrency trading or capital gains within a year of their acquisition.

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Thailand Relaxes Tax Rules for Crypto Investors, Scrapping 15% Withholding Tax

DIGIT — Thu, 03 Feb 2022 02:30:00 +0000

Thailand has relaxed tax rules for cryptocurrency investors, scrapping its planned 15% withholding tax. “The revenue department did a lot of homework and reached out to crypto operators as well to get feedback … It is much more friendly to both investors and the industry,” said the CEO of a crypto exchange. Thailand’s New Crypto […]

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Treasury Secretary Yellen Privately Lobbies Against Tax Amendment Crypto Industry Wants: Report

DIGIT — Sat, 07 Aug 2021 12:30:08 +0000

U.S. Treasury Secretary Janet Yellen has reportedly raised objections to lawmakers about the cryptocurrency tax amendment to the $1 trillion infrastructure bill that is supported by the crypto community. The White House subsequently announced its support for a competing amendment. Yellen Exerting Influence on Lawmakers Regarding Crypto Taxation The new crypto tax proposal in the […]

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White House Backs Crypto Tax Amendment Endorsing Proof-of-Work in Infrastructure Bill

DIGIT — Fri, 06 Aug 2021 12:45:22 +0000

The White House has endorsed an amendment to the $1 trillion Infrastructure bill that supports proof-of-work over all other consensus mechanisms. However, the crypto community is supporting a different amendment. White House Takes Stance on Infrastructure Bill’s Crypto Tax Amendment The White House has endorsed an amendment to the Infrastructure bill sponsored by Senators Mark […]

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US Senator Says Crypto Tax in Infrastructure Bill Is ‘Unworkable,’ Plans to Offer Amendment to Fix It

DIGIT — Tue, 03 Aug 2021 00:30:46 +0000

Several U.S. lawmakers have spoken up against the cryptocurrency tax provision in the $1 trillion infrastructure bill. While the bill has been revised from last week’s version, the text is still “unworkable,” according to Senator Pat Toomey. “I plan to offer an amendment to fix it.” Other lawmakers, including Sen. Ron Wyden, Rep. Warren Davidson, […]

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South Korea Proposes Law Allowing Direct Seizure and Sale of Crypto Assets to Pay Overdue Taxes

DIGIT — Wed, 28 Jul 2021 17:30:40 +0000

The South Korean government has proposed an amendment to the tax code to allow the country’s tax authority to seize and sell cryptocurrencies belonging to delinquent taxpayers. “The revision will allow direct seizing without court-approved change in ownership records. Assets held by tax dodgers in the form of digital coins will no longer evade seizure […]

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Court Authorizes IRS to Summon User Records From Kraken Cryptocurrency Exchange

DIGIT — Thu, 06 May 2021 13:30:12 +0000

The Internal Revenue Service (IRS) has obtained court authorization to serve a John Doe summons on cryptocurrency exchange Kraken. The tax agency is seeking data of users with $20,000 or more in cryptocurrency transactions during the years 2016 to 2020. IRS Wants User Information From Crypto Exchanges The U.S. Department of Justice (DOJ) announced Wednesday […]

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