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Italian Parliament Approves 26% Tax for Cryptocurrency Gains in 2023 Budget Law
2.1.2023
The Italian Parliament has introduced a 26% capital tax on cryptocurrency gains as part of the 2023 budget law, which was approved on Dec. 29. The document also offers incentives for taxpayers to declare their cryptocurrency holdings, proposing a 3.5% aliquot for undeclared cryptocurrencies held...
Argentine Tax Authority AFIP Notified 4,000 Crypto Holders to Ammend Their Tax Statements
31.10.2022
The Argentine Tax Authority (AFIP) is ramping up its fight against cryptocurrency-related tax evasion. On Oct. 28, the organization informed it had sent notifications to 3,997 taxpayers about incongruencies between their tax statements and reports on their cryptocurrency holdings. These statements...
Brazil Registers Record Number of Institutions Declaring Cryptocurrency Holdings
9.10.2022
Brazil registered its highest number of companies and institutions declaring ownership of cryptocurrencies in August. The numbers, which come directly from the Brazilian Tax Authority (RFB), show that more and more institutions are eager to purchase cryptocurrency, and also indicate that the most...
Spanish Treasury Introduces New Crypto Tax Model Featuring Balance Reports
23.6.2022
The Spanish treasury has introduced a new series of requirements regarding the reporting and taxation of cryptocurrency holdings in the country. The new rules include the obligation of taxpayers to disclose all of their cryptocurrency holdings to the tax authorities, as well as their value...
Research Shows More Than 1 Million Australians Own Cryptocurrency
15.4.2022
A recent study by major market research firm Roy Morgan shows that more than 1 million Australians now own cryptocurrency. “The value of all cryptocurrency holdings for people aged 50+ is around $7.6 billion,” the study shows. Study: Over 1 Million Australians Own Cryptocurrency...
Spanish Treasury Admits That Cryptocurrency Holdings Don’t Need to Be Declared Under Model 720
24.3.2022
Spain’s Ministry of Treasury has admitted that Spanish citizens are not forced by law to declare their cryptocurrency holdings under the disputed Model 720, which involves declaring funds held abroad. While the antifraud law approved last year established this duty, there are still no rules...
Spain Modifies Tax Model 720, Used to Declare Cryptocurrency Holdings Abroad
13.2.2022
The Spanish parliament has introduced an amendment to the tax model 720 used to declare cryptocurrency and other holdings abroad, softening some of the penalties associated with it. The modification, which has not yet been approved, changes some of the harsher penalties that were declared illegal...
Kevin O’Leary Reveals Crypto Strategy, Why He Prefers Ethereum, Says NFTs Will Be Bigger Than Bitcoin
2.1.2022
Shark Tank star Kevin O’Leary, aka Mr. Wonderful, has shared his cryptocurrency investment strategy and which coins he owns. He also discussed crypto market bubbles, diversification, regulation, and why he thinks non-fungible tokens (NFTs) will be bigger than bitcoin. Kevin O’Leary...
Microstrategy Buys More Bitcoin, Now Holding 124,391 BTC
31.12.2021
Nasdaq-listed Microstrategy has bought more bitcoin for its corporate treasury. The latest purchase for 1,914 coins has raised the company’s total cryptocurrency holdings to 124,391 bitcoins. CEO Michael Saylor recently said that he expects the price of the cryptocurrency to eventually reach...
Citizens in Argentina Might Have to Pay Crypto Taxes Depending on Location
15.11.2021
A new crypto tax paradigm is brewing in Argentina, where two provinces have now approved crypto tax laws. This means that Argentinian citizens must disclose their cryptocurrency holdings and pay taxes according to the trades they do in the provinces of Tucuman and Cordoba. This is because...
Hong Kong firm to offer insurance for Asian cryptocurrency holdings
11.11.2021
Insurance and risk management for digital assets will increase investor confidence, said OneDegree
Korean Province Seizes Cryptocurrencies From 1,661 Investors for Unpaid Fines
21.9.2021
A South Korean province has seized cryptocurrencies worth over $5 million from 1,661 investors who were more than $12 million in arrears on their fines in total. The seizure followed an investigation of nearly 30,000 companies and individuals as well as their cryptocurrency holdings at four...
South Korean Governor Becomes the First Politician to Disclose Publicly His Cryptocurrency Holdings in the Country
22.5.2021
Regardless of the political turmoil that arose in South Korea due to the crypto-related regulations, a leading politician had come forward to reveal that he had made investments in virtual currencies publicly. Won Hee-ryong, the Governor of Jeju Island, unveiled that he invested in four different...
Ukrainian Parliament Passes Bill That Criminalizes People Who Don’t Reveal Crypto Holdings
20.4.2021
The Ukrainian parliament is enforcing its tough stance against people who don’t disclose their cryptocurrency holdings on the tax fillings. The measure comes in the wake of a recent publication that showed alleged mistakes in declarations from public servants. Offenders Could Spend up to...
Chinese Tech Firm Meitu Buys 175 Bitcoin, Treasury Now Holds $100 Million Worth in BTC and ETH
9.4.2021
The China-based smartphone and internet app maker Meitu has announced the acquisition of $10 million worth of bitcoin for its treasury after the firm purchased digital assets two times prior last month. The company’s cryptocurrency holdings now stack up to $100 million worth of ethereum...
Indian Government Now Requires Companies to Disclose Cryptocurrency Holdings
29.3.2021
The Indian government has introduced new cryptocurrency disclosure rules. Companies dealing in cryptocurrencies will have to disclose their crypto holdings, among other disclosures, as part of their financial statements beginning April 1. New Crypto Disclosure Requirements The Indian Ministry...
Goldman Sachs Sees Huge Institutional Demand for Bitcoin — 76% of Clients Say BTC Price Could Reach $100K This Year
6.3.2021
Global investment bank Goldman Sachs is seeing huge institutional demand for bitcoin with no signs of abating. A survey of Goldman’s institutional clients shows that 61% expect to increase their cryptocurrency holdings. Meanwhile, 76% say the price of bitcoin could reach $100,000 this year....
South Korean Politicians Won’t Be Required to Disclose Their Crypto Holdings After Proposals Failed to Pass the National Assembly
6.1.2021
South Korean politicians won’t be required to disclose their crypto holdings or crypto-related earnings as no fewer than three cryptocurrency-related bills failed to pass the National Assembly. Proposal Submitted in November 2020 According to the Electronic Times, the bills aimed to require...
FinCEN to Impose New Regulation for Crypto Holdings at Foreign Exchanges
1.1.2021
The Financial Crimes Enforcement Network (FinCEN) has announced that it will soon propose new regulation affecting cryptocurrency holdings at foreign exchanges. This proposal is separate from the one FinCEN recently proposed on cryptocurrency wallets. FinCEN’s New Crypto Rules FinCEN,...
Russian President Vladimir Putin Signs Order Compelling Government Workers to Disclose Crypto Holdings
13.12.2020
Russian President Vladimir Putin has signed an order compelling the country’s government workers to disclose their cryptocurrency holdings. The order stipulates that employees must submit details of where they bought the digital assets and the value thereof by June 30, 2021. Similarly...