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The South Korean government is working on taxing cryptocurrency transactions. While the media reports that up to 24.2 percent taxes will be collected this year from crypto exchanges, the regulators say that the tax rates have not been decided. Also read: South Korean Officials Caught Trading On Insider Knowledge of Crypto Regulations What Tax Rates Apply To […]
The post Tax Loophole Closing For South Korean Cryptocurrency Exchanges appeared first on Bitcoin News.
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With success comes attention, and with notice comes the taxman. Bitcoin’s crazy great jump in price over 2017 has taken the world’s most popular cryptocurrency from a curiosity into a begrudgingly valued asset by governments. Capital gains is the tool of most revenue collectors when it comes to crypto, including the United Kingdom (UK). What […]
The post UK Bitcoiners Might Have Tax Loophole appeared first on Bitcoin News.
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The Indian tax authority has sent notices to cryptocurrency investors after discovering that some crypto investments are not reflected on tax returns. The government conducted a survey of crypto trading at the country’s 9 exchanges and found that more than $3.5 billion worth of transactions were traded over a 17-month period. Also read: Despite Multiple Government […]
The post Indian Crypto Traders Getting Notices From Tax Authority Due to Unreported Investments appeared first on Bitcoin News.
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A national petition against extreme cryptocurrency regulations in South Korea has exceeded 200,000 signatures, the requirement for the government to respond. The petition entitled “Has the government ever dreamed a happy dream for the people?” was filed on December 28. Meanwhile, another related petition calls for the removal of the governor of the country’s Financial […]
The post 215,000+ Sign Petition Against South Korean Crypto Regulation – Government to Respond appeared first on Bitcoin News.
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The South Korean government has announced that cryptocurrency traders will be fined if they do not convert from existing virtual accounts, which allows for anonymous trading, to real-name accounts. Regardless of their service levels to crypto exchanges, banks have been ordered to implement the new system this month as planned. Also read: South Korea Urges 23 […]
The post South Korea Announces Crypto Traders Could Face Fines Under New System appeared first on Bitcoin News.
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The South Korean regulators have started investigating two major cryptocurrency exchanges. The country’s National Tax Service has conducted an on-site investigation of Bithumb and Coinone. In addition, Coinone is also being investigated by the Korean police for allegedly offering illegal gambling services to investors. Also read: South Korea Urges 23 Countries, EU, and IMF to Collaborate […]
The post Korean Regulators Launch Investigations of Bithumb and Coinone Crypto Exchanges appeared first on Bitcoin News.
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The South Korean government has announced that some taxes can be applied to cryptocurrencies under the current law, which will be finalized in the first half of this year. Other taxes are also being considered but some are not easily implemented under the current tax system. Also read: Russian Regulators Draft Law to Restrict Crypto Mining, […]
The post South Korea Found a Way to Tax Cryptocurrencies Under Current Law appeared first on Bitcoin News.
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The Indian government has been cracking down on cryptocurrency-related tax evasion. While the tax authority has notified crypto exchanges and wealthy traders that they must pay taxes, no clear guidelines have been provided. Indians are confused about how cryptocurrencies are taxed and seven bitcoin exchanges are asking the regulators for clarification. Also read: Russian Regulators Draft […]
The post Indians Confused Over Crypto Taxation – Exchanges Ask Government to Clarify appeared first on Bitcoin News.
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Cryptocurrency law can be maddeningly vague. From taxation to commodities, the US constitution is characterized by ill-defined and occasionally contradictory statutes regarding digital currencies. Law reform moves at a glacial pace, leaving the status of cryptocurrencies often unlegislated. For cryptocurrency users trying to navigate murky legal waters, this ambiguity can be frustrating. A new website […]
The post New Website Provides Guide to US Cryptocurrency Law appeared first on Bitcoin News.
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The bill for the regulation of cryptocurrencies and initial coin offerings (ICOs) in Russia is ready. It was jointly developed by the country’s central bank and finance ministry. The regulators have shared some details of the bill including how mining activities are to be taxed. Also read: Russian Regulators Draft Law to Restrict Crypto Mining, Payments, […]
The post Russian Cryptocurrency Bill Is Ready – Regulators Share Details appeared first on Bitcoin News.
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