Failure to tax the metaverse ‘will create a tax haven’ — Harvard legal expert
Harvard scholar Christine Kim writes that income and wealth in the metaverse should be subject to immediate taxation. Go to Source
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Kentucky regulator denies plan for subsidizing crypto mining facility
A proposed contact with the Kentucky Power Company would have allowed Ebon International to receive a discounted rate for service at its crypto mining facility over a decade. Go to Source
Indian crypto exchanges CoinSwitch, CoinDCX cut staff amid market slump
Indian crypto exchanges like CoinSwitch and CoinDCX have been struggling to maintain headcount amid bear market and TDS. Go to Source
New tax rules for crypto in the US: Law Decoded
The United States Internal Revenue Service has released proposed regulations on the sale and exchange of digital assets by brokers. Go to Source
IRS releases draft of proposed reporting rules for digital asset brokers
House Financial Service Committee chair Patrick McHenry said the rules are part of “the Biden Administration’s ongoing attack on the digital asset ecosystem.” Go to Source
South Korean city to seize crypto from thousands of tax evaders: Report
City authorities of Cheongju are looking to seize cryptocurrency from anyone who owes at least $750 in crypto taxes to the government. Go to Source
Coin Center responds to US lawmakers’ request for crypto tax guidance
Among the crypto advocacy group’s suggestions included a De Minimis exemption for crypto transactions and having the IRS provide guidance on block rewards, airdrops, and hard forks. Go to Source
Brazil’s Congress moves to levy higher taxes on cryptocurrencies
If approved, the legislation would place crypto assets held by Brazilians overseas subject to the same tax rules governing traditional assets. Go to Source
FTX has a plan, but creditors are not impressed: Law Decoded
A body representing FTX customers said it is “extremely disappointed” by the company’s reorganization plan. Go to Source
Ukrainian government reports $81M tax loss from unregulated crypto exchanges since 2013
A crypto bill signed into law in 2022 paved the way for the Ukrainian government to amend its tax code, but local exchanges still largely operate outside this framework. Go to Source Powered by WPeMatico