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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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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Income Tax Applies to Crypto Trading in Bosnia, Tax Administration Says

Income Tax Applies to Crypto Trading in Bosnia, Tax Administration SaysIndividuals are expected to pay income tax on gains from cryptocurrency trading, the tax authority of Bosnia has determined. In the absence of dedicated regulations, the federal government in Sarajevo has set up a working group to assess various risks associated with digital assets. Income Tax Is Due on Profits From Crypto Trades, Bosnia Tax […]

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Uzbekistan Collects Over $300,000 From Crypto Sector

Uzbekistan Collects Over $300,000 From Crypto SectorWhile operations with digital assets are not taxed in Uzbekistan, the government is receiving a growing amount of revenues from the industry. The increase in budget receipts has been attributed to the licensing regime and the introduction of fees for crypto companies. Crypto Exchange in Uzbekistan Pays Over $10,000 a Month to the State Coffer […]

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Where Are the Crypto OGs? — Taxation Is Theft, but Joe Biden Needs Ice Cream Money

Bitcoin was once viewed as a means to opt out of violent, legacy financial systems. Now, it is being co-opted by the very same, and zealous newcomers to crypto think that’s a good thing, while still giving lip service to peer-to-peer values. Ignoring the problems with fiat money, they beg political interests and bad actors […]

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Biden Vows to Veto House Republicans’ ‘Fair Tax Act’ Proposing Elimination of IRS

Biden Vows to Veto House Republicans' 'Fair Tax Act' Proposing Elimination of IRSSeveral U.S. House of Representatives Republicans have proposed legislation that would significantly decrease funding for the Internal Revenue Service (IRS). The move comes after the newly elected Speaker, Kevin McCarthy, stated that he would challenge the funding granted to the U.S. tax agency in the previous year. Biden Administration Opposes Bill for Rescinding Funding for […]

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Romania Carries Out Raids as Part of Crypto Tax Evasion Probe

Romania Carries Out Raids as Part of Crypto Tax Evasion ProbeAuthorities in Romania have conducted more than a dozen raids against people suspected of hiding income from cryptocurrency operations. The searches took place in late 2022 following an earlier investigation which established that crypto traders had failed to report digital assets exceeding $50 million in value. Law Enforcement and Tax Authorities in Romania Go After […]

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US Government Delays Tax Reporting Rules for Cryptocurrency Brokers

US Government Delays Tax Reporting Rules for Cryptocurrency BrokersThe enforcement of a requirement for brokers to report gains made by crypto investors has been postponed by the U.S. Treasury Department and the IRS. The new tax rules, incorporated into the $1 trillion infrastructure bill passed by the U.S. Congress in 2021, were to be imposed in 2023. Crypto Brokers Told to Comply With […]

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Brussels Wants All Crypto Service Providers to Report Transactions of Europeans

Brussels Wants All Crypto Service Providers to Report Transactions of EuropeansThe European Commission has set out to oblige platforms processing crypto transactions for EU residents to share information with tax authorities in the Union. According to the proposal, all crypto service providers, regardless of where they are based, will have to abide by the new rules. EU to Consider New Reporting Requirements for Crypto Platforms […]

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