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The Internal Revenue Service (IRS) has modified the crypto question asked on Form 1040, the tax form used by all U.S. taxpayers to file an annual income tax return. New Crypto Tax Question The Internal Revenue Service (IRS) published a draft of Form 1040 for the 2022 tax year last week. Form 1040 is the … Read more
“At a minimum, the public should have a say in these crypto handouts,” said the Tech Transparency Project. Go to Source Powered by WPeMatico
The Bank of Portugal has licensed all of the exchanges that have had their accounts closed, including Criptoloja, Mind The Coin and Luso Digital Assets. Go to Source Powered by WPeMatico
The proposal calls for a separate 20% tax on crypto earnings and exemptions of any tax on crypto gains, with losses carried forward for up to three years. Go to Source Powered by WPeMatico
South Korea’s tax administration has pledged to take strict measures against tax evasion through virtual assets and platforms. While the Korean government is yet to start taxing capital gains resulting from crypto investment and trading, authorities in Seoul claim cryptocurrencies have been actively used for money laundering. Korean Citizens Accused of Investing in Crypto Assets … Read more
New legislation introducing tighter restrictions on payments with large sums of cash will enter into force in Israel on Monday. The goal, as stated by the country’s tax authority, is to improve the fight against organized crime, money laundering, and tax evasion. Critics doubt the law will achieve that. Authorities in Israel Go After Cash … Read more
Danny Talwar from crypto tax platform Koinly said Japan’s regulatory environment makes it difficult for businesses and individual investors to hold digital assets in Japan. Go to Source Powered by WPeMatico
An artist from Latvia is under investigation for allegedly selling NFTs, or non-fungible tokens, to launder money, for which he may get up to 12 years in prison. The authorities have blocked his bank accounts and launched an investigation without even notifying him. Artist Who Sold Over 3,500 NFTs Prosecuted for Money Laundering in Latvia … Read more
After being seen in the House a few times, a bipartisan bill is introduced into the Senate with a drastically reduced exclusion for purchases made with cryptocurrency. Go to Source Powered by WPeMatico
In a fresh twist to the collapsed bitcoin Ponzi scheme Mirror Trading International (MTI) saga, revenue collector South African Revenue Services (SARS) has demanded $55.3 million from the scheme’s liquidators. The revenue collector added that it wants the tax bill settled before the MTI liquidation process is finalized. Liquidators Failing ‘as the Deemed Public Officers’ … Read more
