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Cryptocurrency and Taxes: A Guide for the 2023-2024 US Tax Season
11.1.2024
Source: AdobeStock / Nuthawut If one thing in life is certain, it’s that we all have to pay taxes. Therefore, it’s important for cryptocurrency holders and investors to understand everything involved when it comes to crypto and taxes. This is becoming even more critical as digital assets gain...
Defunct Celsius Opens Withdrawal Access for Eligible Cryptocurrency Holders
30.11.2023
Source: AdobeStock Bankrupt cryptocurrency lender Celsius has opened withdrawals for eligible custody customers starting November 29, according to a statement on X (formerly Twitter). Beginning today, additional withdrawals for Eligible Custody Users are now available. Please note that the only...
Coinbase Calls on 52 Million Crypto Holders to Advocate for Clear Regulation
22.9.2023
Coinbase revealed a campaign to move more than 52 million U.S.-based cryptocurrency holders to call for clear and precise regulation. The push, part of a countrywide initiative, will be supported by a paid media campaign across multiple platforms but directed to nine states where most crypto owners...
Slovakia to Lower Tax on Income From Crypto Holdings
1.7.2023
Lawmakers in Slovakia have adopted legislation that will reduce the tax burden for cryptocurrency holders in the country. Income derived from long-term investments in digital assets will also be relieved from healthcare taxes, the parliamentarians decided. Investors in Slovakia to Pay 7% Tax...
PAYB․IO Makes Shopping Easier for Cryptocurrency Holders and Significantly Saves Their Time
26.1.2023
PRESS RELEASE. (London, United Kingdom) – The operator of cryptocurrency purchases on the e-commerce market, PAYB.IO improves and expands its international operations. Their innovative solution allows cryptocurrency holders from around the world to use a multi shopping cart to place orders...
Report: Crypto Adoption Hits New Milestones — Global Crypto Owners Reached 425 Million in 2022
24.1.2023
Crypto adoption achieved new milestones in 2022, with the number of crypto owners reaching 425 million during the year, a new report by Crypto.com shows. Moreover, the report reveals that the number of bitcoin owners reached 219 million in December while the number of ether owners reached...
Three Countries Account for Nearly Two-Thirds of Africa’s Crypto Holders — Study
21.12.2022
According to a new study, out of the estimated 55.3 million cryptocurrency holders that are spread among 33 African countries, three countries — Nigeria, South Africa, and Kenya — account for approximately 36.14 million or nearly two-thirds of this total. In contrast, the study found that...
Report: Kenyan Lawmaker Proposes Introducing Crypto Income and Capital Gains Tax
23.11.2022
According to a capital markets amendment bill reportedly sponsored by Kenyan lawmaker Abraham Kirwa, cryptocurrency holders in the country will be obliged to pay taxes on gains. In addition, the bill (if passed into law) would require crypto holders to furnish Kenya’s Capital Markets...
South African Cryptocurrency Ownership Rate at 10% — Report
26.8.2022
With a cryptocurrency ownership rate of 10%, or four million people, South Africa “ranks 18th out of 26 countries for crypto adoption,” the latest Finder’s report has said. The report also noted that South Africa’s proportion of crypto owners holding bitcoin, 52%, is...
Argentinian Tax Agency Supports Creation of Global Crypto Report System to Avoid Evasion
27.4.2022
The AFIP, the Argentinian tax agency, is supporting the creation of a centralized system that serves as a registry for cryptocurrency holders. According to statements from its head, this would make it easier for tax agencies all over the world to curb evasion. The organization has already made...
LibreScan, the First Decentralized Blockchain Explorer Supported by QANplatform
23.12.2021
PRESS RELEASE. LibreScan, the First Decentralized Blockchain Explorer supported by QANplatform Estonia, Tallinn: The team behind QANplatform announces LibreScan, the first open-source self-hosted Decentralized Blockchain Explorer (DBE). Cryptocurrency holders will soon be able to self-host their...
Crypto Owners in Serbia Reach 200,000 as Country Regulates Digital Assets
18.12.2021
The number of cryptocurrency holders in Serbia has climbed to around 200,000 with interest in cryptocurrencies increasing alongside growing crypto markets. The country’s decision to legally recognize digital assets this year has also contributed to their increasing popularity. Law on Digital...
Thailand to Develop ‘Cryptourism,’ Considers Issuing Utility Token
29.9.2021
In search of ways to heal its travel industry, hurt by the pandemic, Thailand is now recognizing an opportunity to tap into a growing market of cryptocurrency holders. Fostering a “cryptourism atmosphere” is what the country’s tourism agency intends to do, including by minting...
Spanish Tax Authority Issues 14,800 Warning Letters to Cryptocurrency Holders
13.4.2021
Spanish authorities are enforcing their tough stance on the cryptocurrency industry, and the national tax agency seems to be taking it very seriously. Now, the Hacienda issued 14,800 warning letters to Spaniards under their watch for allegedly having failed or need to declare crypto holdings. Fines...
US Treasury’s Proposed Crypto Wallet Rule Is Unconstitutional, Warns Civil Rights Group
31.3.2021
The New Civil Liberties Alliance has objected to FinCEN’s proposed crypto wallet rule, calling it “unlawful.” In addition, the group says that the U.S. Treasury’s “planned ‘crackdown’ on cryptocurrency holders’ private wallets is an unconstitutional...
Study: 60% of Digital Asset Holders Store Funds on Exchanges While Half Derive an Income From Crypto
29.1.2021
Despite the risks that come with storing crypto assets with third parties, the findings of a new study suggest many cryptocurrency holders still trust exchanges with the safekeeping of their funds. Conducted by Binance Research, the study finds that 60% of “the general population store their...
Everybody’s Staking But Who’s Using Proof of Stake Blockchains?
26.1.2020
The primary use case for staking blockchains is staking. That is their raison d’être, and thousands of cryptocurrency holders have utilized this provision to increase their holdings by earning staking rewards. As the total amount of staked tokens trends towards 80% for some blockchains...
Crypto Tax Guidelines Leave More Questions Than Answers
8.11.2019
Cryptocurrency holders have long wrestled with their tax obligations. These fiduciary duties have been complicated by tax agencies, which are several steps behind technology and now playing crypto catch-up. Updated guidelines from the U.S. and U.K.’s tax agencies were finally released this...
Bankera Launches a Global Crypto Backed Lending Solution
21.9.2019
The team behind Bankera, which is building the bank for the blockchain era, has announced the release of its very own lending solution – Bankera Loans. The solution aims to provide flexible and secure crypto-backed loans to cryptocurrency holders globally starting from as low as 100 EUR up to...
HBUS Survey: Almost 12% of US Cryptocurrency Holders Are Long-Term Investors
13.5.2019
The operator of U.S.-based cryptocurrency exchange Huobi released a survey claiming that almost 12% of crypto holders are long-term investors