Crypto space weighs in on proposed amendments to US infrastructure deal
Some are urging U.S.-based crypto users to contact their representatives in support of the amendment from Wyden, Lummis and Toomey. Go to Source Powered by WPeMatico
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Treasury Secretary reportedly against amending crypto language in infrastructure bill
Janet Yellen’s position on a “compromise” amendment proposed yesterday is unclear, but she reportedly raised objections to the language on crypto put forth by Senators Wyden, Lummis, and Toomey. Go to Source Powered by WPeMatico
New Spanish bill aims to enable mortgage payments in crypto
The draft bill intends to allow property owners to pay mortgages with crypto and authorize the real estate sector to use their own crypto for mortgage purchases in Spain. Go to Source Powered by WPeMatico
Taxpayers to avoid obligations by sending mining proceeds to IRAs
The IRS has considered crypto mining revenue as part of taxable income since 2014. Go to Source Powered by WPeMatico
EY aims to simplify cross-border withholding tax process with blockchain
EY expects that its new blockchain-based withholding tax solution can lay a foundation for the European Commission’s withholding tax relief system. Go to Source Powered by WPeMatico
South Korea Proposes Law Allowing Direct Seizure and Sale of Crypto Assets to Pay Overdue Taxes
The South Korean government has proposed an amendment to the tax code to allow the country’s tax authority to seize and sell cryptocurrencies belonging to delinquent taxpayers. “The revision will allow direct seizing without court-approved change in ownership records. Assets held by tax dodgers in the form of digital coins will no longer evade seizure … Read more
Binance cuts withdrawal limits, rolls out tax reporting tool
Existing Binance users will not be able to withdraw more than 0.06 BTC per day without completing full KYC verification, effective in August. Go to Source Powered by WPeMatico
New rules could permit Korean gov’t to seize tax evaders’ crypto
South Korea examines ways to expand its tax base, with proposals to strengthen the government’s ability to seize tax evaders’ crypto assets directly from their personal wallets. Go to Source Powered by WPeMatico
IRS Modifies Crypto Question on Tax Form — Now Focusing on Taxable Cryptocurrency Transactions
The U.S. Internal Revenue Service (IRS) has modified the crypto question asked on the main U.S. tax form. Reducing the scope of the question, the IRS now focuses on taxable cryptocurrency transactions. New Crypto Question on Tax Form 1040 The IRS published a draft Form 1040 for the tax year 2021 Thursday. Form 1040 is … Read more
Get a passport, pay crypto, live tax-free?
Most transfers of cryptocurrency are taxable, unless the transfer is qualified as a gift or a charitable contribution. Go to Source Powered by WPeMatico
