Tax

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Crypto Gambling Taxes: A Guide to Compliance

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The rising popularity of cryptocurrency gambling has brought about important considerations regarding tax implications. Here’s what you need to know to ensure compliance with tax authorities while enjoying crypto gambling. Tax Classification: In many jurisdictions, the classification of cryptocurrency varies, and its treatment can range from being considered a commodity to a currency. It’s essential … Read more

Tax Authority Slated to Become Main Crypto Regulator in Russia

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Russia’s tax administration is going to be tasked with overseeing the crypto industry in the country, a high-ranking government official has indicated. According to the regulatory concept that’s currently under consideration, the revenue service will also serve as an entry point for market participants. Russians to Report Crypto Holdings and Transactions to Their Tax Service … Read more

Russian Companies ‘Actively’ Using Crypto, Russia to Adopt 4 Relevant Laws, Official Says

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Russian lawmakers intend to soon approve four bills designed to regulate various aspects of cryptocurrencies, a high-ranking member of the Russian parliament announced. Meanwhile, Russian companies are already using digital assets in cross-border settlements, the official noted. Russian Legislature to Vote on Crypto Laws by End of July The State Duma, the lower house of … Read more

Crypto Miners Pay Kazakhstan $7 Million in Taxes Amid Uncertain Future for Sector

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The government of Kazakhstan has collected over $7 million in taxes this and last year from enterprises mining cryptocurrency in the country. The news comes amid growing regulatory pressure that is limiting the industry’s access to low-cost energy while increasing its tax burden. Miners Face Higher Expenses, More Challenges Under New Legislation Kazakhstan’s coffers have … Read more