Crypto-focused software firm Lukka raises $53M in funding round
Lukka said it planned to add additional features for customers dealing in derivatives, DeFi products, and other products of the crypto space. Go to Source Powered by WPeMatico
Taxes
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South Koreans Are Required to Pay Taxes for Crypto Holdings in Overseas Exchanges, Authorities Warn
South Korean tax authorities are unstoppable in keeping crypto holders in their eyes and making them accountable to pay taxes. The National Tax Service (NTS) has issued a warning to the crypto traders that they have to report their earnings even from tokens held in foreign exchanges. No Details on How the Agency Will Supervise … Read more
Would a US wealth tax push millionaires to Bitcoin adoption?
There are ways in which a tax on the ultra-wealthy could nudge them toward crypto, but hiding assets is not one of them. Go to Source Powered by WPeMatico
US-based crypto users likely still have to pay taxes on NFTs, says CNBC
“If you exchange crypto for any other asset, you immediately recognize a capital gain or loss,” said Robert Frank. Go to Source Powered by WPeMatico
‘Inhospitable to capitalism’ US can target those ditching dollar for Bitcoin — Ray Dalio
Investors should reduce dollar exposure, the billionaire says, as MicroStrategy’s Saylor describes Bitcoin as the “obvious solution.” Go to Source Powered by WPeMatico
IRS Launches ‘Operation Hidden Treasure’ to Target Unreported Crypto Income
The U.S. Internal Revenue Service (IRS) has reportedly launched an operation to target cryptocurrency investors. Dubbed “Operation Hidden Treasure,” the team consists of agents trained in the field of cryptocurrency and transaction tracking. Damon Rowe, Executive Director at the IRS Office of Fraud Enforcement, unveiled “Operation Hidden Treasure” last week at a Federal Bar Association … Read more
ICON (ICX) unaffected by South Korean tax investigation into ICONLOOP, says chairman
The South Korean tax authority is trying to track the movement of ICO funds raised in foreign countries into its domestic markets. Go to Source Powered by WPeMatico
Crypto Tax Compliance Startup Taxbit Raises $100 Million, Targets International Expansion
U.S. crypto tax compliance startup Taxbit has raised $100 million in a Series A funding round led by investment firms Paradigm and Tiger Global. Paypal Ventures, Coinbase Ventures, and others including Bill Ackman, Ryan Smith, and Anthony Pompliano also joined the round. Taxbit chief executive officer Austin Woodward said the funds will be invested in … Read more
Kentucky to provide tax breaks for local crypto miners
Kentucky needs to attract more crypto mining businesses by offering tax breaks, local lawmakers believe. Go to Source Powered by WPeMatico
US crypto tax startup TaxBit to channel $100M raise into UK expansion
Utah-based startup TaxBit prepares to provide global crypto-oriented tax expertise with a newly raised $100 million. Go to Source Powered by WPeMatico
