New Kenyan Digital Tax to Affect Crypto Platforms

New Kenyan Digital Tax To Affect Crypto PlatformsKenya Revenue Authority (KRA) has announced new regulations that compel users of digital marketplaces to pay digital tax. At a rate of 1.5% on gross transaction value, the new tax is expected to take effect on Jan. 1, 2021. According to a report, the KRA will create a special tax unit to track and tax […]

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US Congressmen Want IRS to Balance Taxation and Innovation in the Cryptocurrency Space

US Congressmen Want IRS to Balance Taxation and Innovation in the Cryptocurrency SpaceA bipartisan quartet of US congressmen wants the IRS taxation policy not to dissuade taxpayers from participating in blockchain token staking. These politicians believe America’s ingenuity can help drive this promising staking technology. The four congressmen are Bill Foster (D) of Illinois, Darren Soto (D) of Florida, Tom Emmer (R) of Minnesota, and David Schweikert […]

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South Korea to Charge 20% Tax on Bitcoin Profits Under New Law

South Korea to Charge 20% Tax on Bitcoin Profits Under New LawSouth Korea will now tax profits made from buying and selling of cryptocurrency at 20% after the government agreed to the decision on Wednesday. The decision was reached after months of debate. According to a taxation policy amendment notice released July 22, the Ministry of Economy and Finance said income from digital assets below 2.5 […]

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