China Fines Bitmain $3.6 Million for Tax Violations, Report

China Fines Bitmain $3.6 Million for Tax Violations, ReportChinese authorities have fined leading crypto mining hardware manufacturer Bitmain for tax-related violations, local media reported. The penalty comes amid increasing tax checks in the digital asset sector, according to information from the crypto community. Bitmain Fined for Failing to Pay Income Tax on Behalf of Employees One of the world’s largest producers of devices […]

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Bitcoin Profits Deemed Taxable by Denmark’s Supreme Court

Bitcoin Profits Deemed Taxable by Denmark’s Supreme CourtProfits from the sale of cryptocurrencies like bitcoin are taxable, according to two rulings by the Supreme Court of Denmark. The verdicts in the cases, which involve crypto purchases and payments as well as income received from bitcoin mining, uphold decisions of lower courts. Denmark’s High Court Considers Crypto Gains Taxable Under Current Law Profits […]

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Tax Benefits for Bitcoin Businesses in Belarus Extended Until 2025

Tax Benefits for Bitcoin Businesses in Belarus Extended Until 2025Tax exemptions for companies and individuals legally working with cryptocurrencies in Belarus will remain in place until Jan. 1, 2025. A new presidential decree extends the tax cuts introduced in 2018 when the executive power in Minsk legalized crypto activities such as mining and trading. Belarus to Maintain Its Crypto-Friendly Tax Regime for Another 2 […]

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FTX’s Bankman-Fried Is Allegedly Using Alameda Funds to Pay for Legal Defense

According to two sources close to FTX, Sam Bankman-Fried, the disgraced co-founder, gave his father, Stanford Law professor Joseph Bankman, millions of dollars. The funds are reportedly being used to pay for legal costs. The sources said that Bankman-Fried allegedly gave “at least $10 million” from the now-defunct quantitative trading firm Alameda Research to his […]

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Argentine Tax Authority AFIP Detects Irregularities in 184 Digital Wallet Tax Statements

afip argentine tax authorityThe Argentine tax authority (AFIP) is increasing its scrutiny when it comes to digital wallets. The institution recently revealed it found irregularities in at least 184 tax statements that include digital wallets and cryptocurrencies. These taxpayers did not include their wallet holdings as part of their 2021 tax statements, leaving close to $7.6 million in […]

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Russian Crypto Industry Queries Government About Proposed Criminal Liability for Miners

Russian Crypto Industry Queries Government About Proposed Criminal Liability for MinersThe organization representing Russia’s crypto sector has asked the government in Moscow to clarify a proposal to introduce criminal liability for “gray” miners. The draft legislation seeks to punish those who fail to report their income to the state and share information about their digital assets. Crypto Companies in Russia Want to Take Part in […]

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Study Shows QR and Digital Payments Continue Gaining Ground in Argentina

qr digital payments argetinaA recent study made by Fiserv, a global payments company, shows that QR and digital wallets have grown significantly as payment options in Argentina. While credit card preference has stagnated, the use of cash for payments has decreased, with only 14% of the polled choosing to use it over other options in the country. Argentina […]

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Revised Bill Suggests Prison Time for Russian Crypto Miners Evading Taxation

Revised Bill Suggests Prison Time for Russian Crypto Miners Evading TaxationA draft law designed to regulate crypto mining in Russia introduces harsh penalties for miners failing to report digital assets to the state. In its latest revision, the bill also threatens to punish those who organize illegal trading of cryptocurrencies with imprisonment and hefty fines. Forced Labor Awaits Miners and Traders Who Operate Outside Law, […]

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