New Zealand Rules Receiving Income in Bitcoin is Legal, Taxable
New Zealand’s tax authorities have ruled that income in cryptocurrencies is legal and provided guidance on how exactly it should be taxed Go to Source Powered by WPeMatico
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Hodler’s Digest, Aug. 5–11: Naughty North Korea, India’s Bombshell, LTC Flops
In this week’s Hodler’s Digest, Litecoin’s halving fails to boost prices — and the scale of North Korea’s crypto hacks emerges Go to Source Powered by WPeMatico
Can the Fed Kill Bitcoin? Navigating the Chokepoints of Tax Law and KYC
Taxes. The one word that can kill any buzz in seconds flat. Whether you’re a libertarian ranting about how taxation is theft or one of those fabled creatures who is actually happy to file them as their so-called civic duty, one fact remains: those who don’t give the government a bite — or make mistakes … Read more
Crypto Tax Bill Introduced in the US House of Representatives
A U.S. lawmaker has introduced a bill that, once law, would free up cryptocurrencies from double taxation under current regulations Go to Source Powered by WPeMatico
UK’s Tax Authority Requests User Data From Crypto Exchanges: Report
UK tax service has reportedly requested that crypto exchanges provide it with user info to track down tax evasion Go to Source Powered by WPeMatico
More Cities and Regions Accepting Coins for Taxes, Services
Cryptocurrency payments, as convenient as they can be, are still something most governments are trying to wrap their heads around and regulate. Local authorities, however, being closer to the citizens they are called upon to serve, are often quicker to adopt novelties that make their lives and the lives of ordinary people much easier. More … Read more
Israeli BTC Investors Can’t Pay Taxes as Banks Refuse Deposit
Bitcoin investors in Israel are unable to pay their taxes because banks do not accept deposits deriving from crypto trading Go to Source Powered by WPeMatico
Scam IRS Letters Trying to Trick Cryptocurrency Users to Pay Up
Scam letters purporting to be from the United States Internal Revenue Service are trying con cryptocurrency taxpayers and others out of their funds Go to Source Powered by WPeMatico
Tax Expert: IRS Letters Confirm That Trading Cryptos Is a Taxable Event
The U.S. Internal Revenue Service (IRS) announced on July 26 that 10,000 American cryptocurrency users will receive a letter reminding them to pay taxes or amend any mistakes on past filings. At the time, IRS Commissioner Charles Rettig said U.S. taxpayers should take the warning letters “very seriously.” Sean Ryan, CTO of Node40, a platform … Read more
New Iranian Law: Government Will Not Recognize Crypto-Related Trade
Iran’s government released a new law that does not accept crypto as legal tender or recognize transactions carried out with cryptocurrency Go to Source Powered by WPeMatico
