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Finder’s $675 ETH Prediction, India Calls on G20 Re: Crypto Taxes, Peterffy Concerned BTC Could ‘Become Worthless or Outlawed’ — Bitcoin.com News Week in Review
24.7.2022
In this week’s bite-sized digest of the hottest stories from Bitcoin.com News, a new Finder survey knocks down previous forecasts for ethereum’s price a notch, with crypto experts predicting lower long-term prices for the asset. Also, India calls on G20 nations to bring...
Tax Collector Wants $55 Million From Collapsed Bitcoin Ponzi Scheme MTI — Liquidators Accused of Failing Their Duty
24.7.2022
In a fresh twist to the collapsed bitcoin Ponzi scheme Mirror Trading International (MTI) saga, revenue collector South African Revenue Services (SARS) has demanded $55.3 million from the scheme’s liquidators. The revenue collector added that it wants the tax bill settled before the...
South Korea postpones 20% tax on crypto gains to 2025
21.7.2022
The delay comes just a couple of months after newly elected president Yoon Suk-yeol promised to work on regulations first
India needs global collaboration to decide on crypto's future, says finance minister
18.7.2022
Indian finance minister reiterated RBI’s stance on the crypto market, claiming it’s driven by speculation
The regulatory implications of India’s crypto transactions tax
18.7.2022
India’s introduction of new crypto taxes had a negative impact on overall trading, forcing entrepreneurs to move to friendlier jurisdictions
The Central African Republic Says Sale of 210 Million Sango Crypto Tokens to Commence in Late July
17.7.2022
The sale of the Central African Republic (CAR)’s 210,000,000 Sango coins is set to begin on July 25 and participating investors will have to buy tokens worth at least $500. In return for buying and locking in the Sango coins, investors will gain citizenship and a piece of real estate...
Kazakhstan President Signs Law Increasing Tax Burden for Crypto Miners
13.7.2022
President of Kazakhstan Kassym-Jomart Tokayev has signed into law a bill amending the country’s Tax Code to impose higher tax rates on crypto miners. The levy will depend on the amount and average price of electricity utilized in the extraction of digital currencies like bitcoin....
Kenya Has Highest Proportion of Crypto Owning Citizens in Africa UNCTAD Data Shows
10.7.2022
The latest data from the United Nations Conference on Trade and Development (UNCTAD) suggest that Kenya has the highest proportion of crypto-owning inhabitants than any other African country. To counter the growing use of cryptocurrencies, UNCTAD said it recommends the imposition of taxes that...
Crypto tax deters 83% Indian investors from crypto trading: WaxirX report
6.7.2022
With two consecutive taxes ready to eat away at their holdings, most Indian investors have seemed to have opted for hibernation amid an unforgiving bear market
UK government seeks public input on DeFi taxation
5.7.2022
The HMRC is asking for input from investors, professionals, and organizations involved in DeFi-related activities
Indian crypto trading volumes slump following hefty taxes
5.7.2022
Indian crypto traders may be giving up since they must now factor in a 30% income tax and a 1% tax per transaction on crypto trades, forcing exchange volume to plummet
Tax Agency Starts Checking Crypto Traders in Romania
3.7.2022
Authorities in Romania are going after investors who failed to report revenues from crypto trading and pay tax. The offensive is part of efforts to respond to financial trends, the country’s tax body said in a statement, unveiling it was able to identify almost €50 million...
US govt delays enforcement of crypto broker reporting requirements: Report
29.6.2022
The reporting requirements, aimed at reducing the size of the tax gap, were scheduled to take effect in January 2023, with crypto firms sending reports to the IRS starting in 2024
Russian Parliament Adopts Tax Rules for Digital Assets
29.6.2022
Russian lawmakers have approved amendments regulating the taxation of transactions with digital assets. The legislation concerns business operations with cryptocurrencies and tokens. In some cases, the burden for Russian companies will be reduced as compared to foreign entities. Russian Duma Passes...
Russian Duma passes bill to remove VAT, lower income tax rates on digital asset sales
28.6.2022
Russia is turning to blockchain technology in an effort to counteract economic isolation brought on by the sanctions imposed due to its invasion of Ukraine
Taxes of top concern behind Bitcoin salaries, Exodus CEO says
14.6.2022
Cryptocurrency wallet firm Exodus has been paying all its staff fully in Bitcoin since launching its software wallet in 2015, CEO JP Richardson said
Declare the Side Hustle — Americans Are Concerned About the 1099-K Tax Rule for Payments Over $600
10.6.2022
Americans are worried about a new tax reporting requirement that will force applications like Venmo, Cash App, Paypal, Airbnb, and Ebay to send 1099-K forms to users. The U.S. Internal Revenue Service (IRS) is specifically focusing on payments of $600 or more for goods and services received through...
Australian Mayor downplays crypto volatility, recommends it for rates payments
6.6.2022
"The volatility is not that bad” - Australia’s Gold Coast Mayor suggests crypto could be used to pay local taxes in the future
A16z Says DAOs May Be Better Off Filing Legal Papers, Paying Taxes
2.6.2022
The venture capital firm released an analysis today further underlining the possible U.S. legal structures for DAOs, and suggesting it might be best not to run offshore to avoid taxes
Kazakhstan Makes $1.5 Million From Crypto Mining Sector in Q1
1.6.2022
The government of Kazakhstan has collected $1.5 million from crypto miners in the first quarter of this year, official data shows. The money comes from a fee charged on the electricity spent to mint digital currencies, which was introduced in January. Crypto Mining Increases Budget Revenues...