Kraken ordered by court to disclose user data to IRS for tax compliance
Kraken is required to provide details of users who engaged in transactions exceeding $20,000 within a calendar year. Go to Source Powered by WPeMatico
Taxes
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Slovakian parliament votes in approval of lower crypto taxes
A parliamentary vote held by officials in Slovakia approved an amendment that will reduce the taxation of cryptocurrencies, which is currently on a sliding scale. Go to Source Powered by WPeMatico
How to track and report crypto transactions for tax purposes
Crypto assets are subject to tax and must be tracked and reported to the IRS. This comprehensive tax guide contains everything you need to know. Go to Source Powered by WPeMatico
Nigeria to tax crypto, digital assets 10% on capital gains: Experts react
The Act aims to enhance fiscal transparency, boost revenue and recognize cryptocurrencies as legitimate assets. Go to Source Powered by WPeMatico
Intuit introduces proprietary large language models for fintech with GenOS
Intuit is launching an operating system for generative artificial intelligence that will feature AI models trained on the company’s financial data. Go to Source Powered by WPeMatico
Uniswap DAO rejects plan to charge LP fees; UNI holders cite tax concerns
The proposal would have allowed Uniswap’s governing body to receive a percentage of the fees that currently go to liquidity providers. Go to Source Powered by WPeMatico
Does the US have a crypto ‘tax loophole’ problem?
The Biden administration wanted to nix a “special tax subsidy for cryptocurrency,” but it wasn’t in the May 28 debt-ceiling bill. Another narrow escape? Go to Source Powered by WPeMatico
Deal to avoid US debt default nixes proposed 30% crypto mining tax, says Ohio lawmaker
According to Representative Warren Davidson, legislation to address the U.S. debt ceiling blocks “proposed taxes,” including a 30% tax on electricity used by crypto miners. Go to Source Powered by WPeMatico
G7 discusses crypto, supports CBDC — Law Decoded, May 15–22
The European Council has approved updated rules that extend tax reporting requirements to include transfers of crypto assets. Go to Source Powered by WPeMatico
Biden won’t accept debt deal protecting crypto traders — G7
U.S. President Joe Biden expressed opposition to a debt ceiling deal that would allegedly benefit crypto traders. Go to Source Powered by WPeMatico