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IRS: Like-Kind Tax Exemption Has Never Applied to Crypto Transactions
14.11.2019
U.S. taxpayers have never been authorized to postpone paying tax using the like-kind exchange principle, an IRS official says
IRS Clarifies its Confusing ‘Airdrop’ Cryptocurrency Tax Policy
14.11.2019
America’s top tax authority, the Internal Revenue Service (IRS), has somewhat provided clarification about its recent cryptocurrency tax guidelines. However, their final decision regarding taxing promotional airdrops is yet to be made.
Critics pointed out a range of potential problems with...
How Society Thrived Before Mass Taxation, and How It Still Can
12.11.2019
Many people in the U.S. and elsewhere think of the income tax as some kind of timeless staple of society. The truth is, it was only first instituted in the United States as a permanent fixture in 1913. It stands to ask then, how all the progress that was made prior and the bustling growth...
Internal Revenue Service (IRS) Finds Ways to Track Cryptocurrency Tax Avoidance
11.11.2019
According to the recent meeting with tax authorities of different countries, the Internal Revenue Service (IRS) of the United States finds various ways to track the cryptocurrency criminals that are not paying taxes. The authorities from the US, Australia, Canada, UK, and the Netherlands combined...
Tax Agencies Worldwide Plan to Crack Down on ‘Dozens’ of Crypto Tax Evaders
10.11.2019
The U.S. Internal Revenue Service (IRS) has revealed the agency is cracking down on “dozens” of cryptocurrency users evading taxes. The IRS has partnered with tax agencies from four other countries in order to make sure tax enforcement strategies are being applied across the map. Also...
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...
Blox Launches Automated Crypto Cost Basis Tool
5.11.2019
When it comes to owning cryptocurrencies, the investors should comply with the financial obligations like submitting their tax reports on time to the regulatory bodies. These crypto taxations and cost-based calculations often seem to be challenging for the financial professionals, due to the lack...
Britain’s Tax Authority Updates Crypto Guidelines
4.11.2019
Her Majesty’s Revenue and Customs (HMRC) has updated its guidelines on the taxation of transactions involving crypto assets. The United Kingdom’s tax authority clarifies its stance on cryptocurrencies and explains which taxes apply to specific activities carried out by business entities...
UK Tax Authority Issues Crypto Guidance for Businesses
4.11.2019
After clarifying how individual taxpayers should deal with cryptos last year, the U.K.'s HMRC has now issued guidance for enterprises
UK Introduces New Crypto Tax Rulings, Says Bitcoin is not Money
4.11.2019
The British government has updated its cryptocurrency tax rules, adding stipulations for businesses that work with crypto. Also, they stressed that they do not consider Bitcoin and other digital tokens to be money.
The UK’s tax agency, the HMRC (HM Revenue and Customs) had already released a series...
British Tax Authority Updates Cryptocurrency Guidelines, Says It Is Not Money
3.11.2019
Her Majesty’s Revenue and Customs has updated cryptocurrency taxation guidelines for businesses and individuals
Argentina Introduces Cryptocurrency Tax Rules + 11 More Crypto News
1.11.2019
Crypto Briefs is your daily bite-sized digest of cryptocurrency and blockchain-related news – keeping you up-to-date with under the radar crypto news from around the world.
Regulation news
Argentina’s financial regulator, the Federal Administration of Public Revenue, has introduced cryptocurrency...
New IRS Tax Guidance Targets Crypto, and US Persons Who Use It
31.10.2019
The US IRS is tying up crypto users, making new steps toward crypto taxation that could potentially affect a lot of people
Tencent to Lead Drafting of International Blockchain-Based Invoice Standards
29.10.2019
The internet giant, which has been working on blockchain-based invoices for some time, will lead the development of new standards
Chinese Official Warns Libra Could Abet Illegal Cross-Border Transfers
28.10.2019
Libra must abide by international foreign exchange regulations to not enable illegal transfers or “it should be banned,” a senior Chinese regulator said Monday
Top 8 Crypto Tax Platforms
27.10.2019
Making money, spending money, holding money, or just generally being around money, comes with a significant side effect, namely – taxes. The term itself evokes a desire to procrastinate, imagining hours and days of manual calculations and headache. Especially for newbies, it may seem like...
Tax Form to Report Revenues From Cryptocurrency Trading Issued in Poland
26.10.2019
Authorities in Poland have clarified the taxation of revenues received from cryptocurrency exchange transactions. The Ministry of Finance has recently published a 2019 tax form that has a dedicated section where taxpayers are expected to declare separately proceeds from crypto trading. Also read:...
Bermuda to Start Accepting USDC Stablecoin for Tax Payments
17.10.2019
Bermuda has become the first government to start accepting taxes in the form of hugely popular USDC stablecoin. In fact, the people of Bermuda will also be able to use the USD Coin (USDC) for the payment of fees and government services, as per the official announcement by Circle on its blog dated...
Where US Regulators Stand on Crypto Assets
16.10.2019
The U.S. has many regulators responsible for overseeing different aspects of crypto assets, each with its own stance on how they should be regulated. Major regulators in the U.S. with strong opinions on cryptocurrency include the SEC, the CFTC, the Federal Reserve, Fincen, and the IRS. Also read:...
Bermuda Becomes First Gov’t to Accept Tax Payments in USDC Stablecoin
16.10.2019
Global financial services company Circle announced that Bermuda became the first government to accept its stablecoin USDC for tax payments