Taxes

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Tax Loophole Closing For South Korean Cryptocurrency Exchanges

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The South Korean government is working on taxing cryptocurrency transactions. While the media reports that up to 24.2 percent taxes will be collected this year from crypto exchanges, the regulators say that the tax rates have not been decided. Also read: South Korean Officials Caught Trading On Insider Knowledge of Crypto Regulations What Tax Rates Apply To … Read more

Your Taxes Paid for a Lot of Blockchain Surveillance Last Year

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Governments worldwide have been ramping up regulations for cryptocurrencies and hiring research and blockchain surveillance teams. One firm that tracks transactions on the Bitcoin Core blockchain is called Chainalysis, and this year the company has gathered over a half a million USD on record from various government and law enforcement entities. Also read: South Korean Exchange … Read more

Indian Crypto Traders Getting Notices From Tax Authority Due to Unreported Investments

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The Indian tax authority has sent notices to cryptocurrency investors after discovering that some crypto investments are not reflected on tax returns. The government conducted a survey of crypto trading at the country’s 9 exchanges and found that more than $3.5 billion worth of transactions were traded over a 17-month period. Also read: Despite Multiple Government … Read more

Luno Exchange Bank Account Frozen by Malaysian Tax Officials

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Over the past few weeks, regulators and financial institutions have been reacting to the worldwide popularity of bitcoin and other cryptocurrencies. In another regulatory-related matter, this week in Kuala Lumpur, Malaysia, the trading platform Luno had its bank account frozen by the country’s tax officials. Also read: Federal Reserve Chair: “Fed Doesn’t Really Play Any … Read more

Calls for “Legal Bitcoin” in Ukraine, as Natsbank Mulls E-Fiat

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Ukraine, now serious about crypto regulation, is setting up a special working group to oversee the completion of the necessary framework. Dedicated legislation has been making its way through parliament since October. The National Bank is considering plans to emit “e-hryvnias”, while the justice minister says bitcoin is a fact and calls for its legalization. … Read more

Australian Taxation Office Creates Task Force to Go After Bitcoin Traders

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Are you an Australian citizen and worried you might not be paying all the taxes you are due on your bitcoin investments? Well, worry no more because the government is here to help. A group of experts has been assembled to make sure no satoshi goes untaxed in the land down under. Also Read: SEC … Read more

New Website Provides Guide to US Cryptocurrency Law

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Cryptocurrency law can be maddeningly vague. From taxation to commodities, the US constitution is characterized by ill-defined and occasionally contradictory statutes regarding digital currencies. Law reform moves at a glacial pace, leaving the status of cryptocurrencies often unlegislated. For cryptocurrency users trying to navigate murky legal waters, this ambiguity can be frustrating. A new website … Read more

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