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Russian Traders Gear up for ‘Head Spinning’ Crypto Tax Season
1.7.2020
The Federal Taxation Service. Russian crypto owners have been warned that they have just a month before the taxman comes calling – with miners, custodians and traders all required to declare their profits.
Although the country is likely still “a year or more” away from comprehensive crypto laws...
Switzerland Won’t Amend Tax Law in Regard to Blockchain in Near Future
29.6.2020
Switzerland does not need to amend its current tax legislation to cover blockchain-based arrangements, the Federal Council believes
South Korean Economist Warns New Tax Laws May Slow Down Crypto Market Growth
23.6.2020
South Korea economist worries that tough regulation would slow down crypto’s growth
The Future of Philanthropy Lies in Blockchain Technology
20.6.2020
Blockchain tech and crypto donations incorporated into the philanthropy sector have a chance of significantly improving the entire industry
Ernst & Young Launches Application to Help US Crypto Investors With Tax Filings
20.6.2020
Ernst & Young (EY) has introduced a new application that helps U.S. cryptocurrency traders calculate and file their taxes with ease. The EY Cryptoprep app, a Software as a Service (SaaS) web-based crypto tax engine, helps users calculate crypto-related gains and losses that have to be reported...
New Tool to Track Tax Evaders, Digital Collectors LBCOIN + More News
19.6.2020
Crypto Briefs is your daily, bite-sized digest of cryptocurrency and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.
Regulation news
A new Brazilian tax evasion tool could allow tax authorities and law enforcement agencies to police crypto, reports...
Tax Time: Ernst & Young Release Crypto Tax App
19.6.2020
A new crypto reporting app by the big four accounting firm EY will help clients with tax reporting as the IRS cracks down on tax evasion
One Month Left to Crypto Tax Season — 5 Critical Mistakes to Avoid
18.6.2020
All you need to know to prepare for Crypto Tax Season 2020 and correctly inform the IRS about your crypto
IRS Tells Couple With $7 Million in Bitcoin to Liquidate Crypto Assets and Pay off Tax Debt
17.6.2020
The Internal Revenue Service (IRS) has won a case in which it demanded that a Maryland couple liquidate their bitcoin to pay-off a $1.1 million tax debt. Alexander and Laura Strashny proposed to the IRS to pay their 2017 tax liability, generated from non-crypto activities, in installments over...
US Tax Court Says You Should Sell Your Crypto Savings If You Owe IRS
17.6.2020
The US federal court sides with the IRS in a dispute involving crypto whales and unpaid taxes
South Korean Crypto Tax Reports, Canada's CBDC + More News
17.6.2020
Crypto Briefs is your daily, bite-sized digest of cryptocurrency and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.
Regulation news
South Korea’s deputy prime minister and finance ministry chief Hong Nam-ki has confirmed the reports about...
South Korea’s Finance Minister Confirms Plan to Tax Cryptocurrency
17.6.2020
Although scant on details, South Korea’s finance minister has confirmed that taxes will be imposed on cryptocurrency in the country
South Korean Bitcoin Tax Amendments to Be Unveiled in July
15.6.2020
South Korean crypto tax legislation is set for a July rollout. The government appears to have settled on a means of ensuring citizens pay tax on their cryptoasset earnings – and will attempt to tax crypto “like real estate.”
Although it has yet to make a formal announcement on the matter, a number...
Tiny Tax Haven Accounts for $36B of Cross-Border BTC Transactions
12.6.2020
Seychelles-based exchanges moved $36 billion worth of Bitcoin across international borders in 2019
Speculation Rife as User Pays a Second $2.6 Million Fee in Ether Transaction
11.6.2020
History repeated itself on Thursday, after the Ethereum blockchain processed another transfer with fees of $2.6 million – the second such unusual, record-fee transaction in 24 hours. A user sent 350 ether (ETH), worth about $86,400 and paid 10,668 ETH, or $2.6 million, in transaction fees....
Loophole in U.S. Tax Law Could Allow Bitcoin Traders to Write off Unlimited Losses
10.6.2020
A loophole in the U.S. tax law could allow qualified bitcoin traders to write off unlimited losses from their trading activities, according to an expert from crypto tax platform Coin Tracker. Traders, defined by U.S tax collection agency Internal Revenue Service (IRS) as people who trade...
10 Tips for Filing Crypto Taxes
7.6.2020
There are only a few more weeks before the U.S. tax season. The 2020 U.S tax season deadline has historicallyContinue Reading
The post 10 Tips for Filing Crypto Taxes appeared first on CoinMarketCap Blog
Your Crypto Taxes Can Be Donated to Charity Instead
5.6.2020
Cryptocurrency has become one of the easiest ways to donate to charity without the funds being funneled to third parties
Japanese Finance Minister Shoots Down Plan to Cut Bitcoin Tax to 20%, Cites Crypto-Divide
4.6.2020
Japan’s finance minister Taro Aso says he is opposed to reducing tax on bitcoin income to 20%, on par with stock dividends, arguing that most Japanese households find it difficult to invest in digital assets. The development suggests that Japan will uphold its current definition...
Japanese Finance Minister May be Opposed to Lowering Tax on Crypto
2.6.2020
Taro Aso might not be willing to support legislation in Japan treating cryptocurrency-related income the same as that for stocks