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The fruits of President Biden’s EO will not materialize until months from now, but the need for regulatory change is far-reaching. Go to Source Powered by WPeMatico
Nonprofits are required to file IRS Form 8282 for crypto donations of $500 or more if donated funds are exchanged for the U.S. dollar. Go to Source Powered by WPeMatico
An Indian parliament member has urged the government to increase the tax on crypto income from the current proposed rate of 30%, stressing that crypto trading is similar to gambling. He has also requested that the goods and services tax (GST) be imposed on the total transaction value of crypto. Indian Parliament Member Wants to … Read more
The Indian government has revealed that 11 cryptocurrency exchanges have been under investigation by the country’s tax authority. About 95.86 crore rupees ($12.6 million) have been recovered from them. 11 Crypto Exchanges Investigated for Tax Evasion The Indian government answered some questions regarding the taxation of cryptocurrency exchanges Monday in Lok Sabha, the lower house … Read more
Some jurisdictions are introducing digital assets as tax payment options while others levy hefty taxes on crypto gains. Go to Source Powered by WPeMatico
The budget from the Biden administration said modernizing tax rules to include digital assets will bring the government $4.9 billion in revenue in 2023. Go to Source Powered by WPeMatico
Rio de Janeiro, one of the most iconic cities of the South American continent, has announced it will allow its citizens to pay taxes with cryptocurrencies. This makes it the first city in the country to do so, recognizing there is a boom in the cryptocurrency market. These actions form part of a plan that … Read more
An Indian parliament member has warned that imposing a 1% tax deducted at source (TDS) on every crypto transaction will kill the nascent asset class. This tax provision is contained in Finance Bill 2022 which Lok Sabha, the lower house of India’s parliament, has passed. However, India’s finance minister insists that the TDS on crypto … Read more
The City of Austin gears up to become America’s next crypto hot spot by passing two resolutions focused on cryptocurrency and blockchain innovation. Go to Source Powered by WPeMatico
Supporting this cause led by Mayor Eduardo Paes, Binance CEO Changpeng Zhao announced to open a new office in the Brazilian city stating that “He’s done his part. We are working on ours.” Go to Source Powered by WPeMatico
