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Kazakhstan Expects $1.5 Billion From Crypto Mining in 5 Years, Estimates Suggest
29.10.2021
Crypto miners now bring more than $230 million into the economy of Kazakhstan each year and estimates show the figure could increase significantly in the future. The industry’s leading organization has projected that the government can collect more than $300 million in taxes over the next...
Slovenia Launches Public Consultations on Crypto Taxation Law
28.10.2021
Authorities in Slovenia have prepared new legislation tailored to determine how crypto holdings and transactions are taxed in the country. The proposal, aimed at clarifying the matter, has been submitted for public consultations this week, local media reports revealed. Slovenia to Amend Tax Rules...
‘An Act of War Against the Middle-Class’ — Americans Criticize Janet Yellen’s Idea to Tax ‘Unrealized Capital Gains’
25.10.2021
The 78th United States secretary of the treasury Janet Yellen told CNN’s “State of the Union” on Sunday that U.S. lawmakers are considering taxing unrealized capital gains. According to Yellen, the funds collected would help finance things related to climate and social change....
Taxes, Higher Electricity Rates Coming for Russian Bitcoin Miners - Lawmaker
20.10.2021
The parliamentarian charged with creating Russia’s crypto regulation has hinted that crypto mining tax could be coming – while the days of rock-bottom energy prices for miners across the whole CIS region appear to be coming to an end.
Per Finworld, Anatoly Aksakov, the head of the State Duma’s...
Aussie senate committee proposes overhaul of crypto taxes, DAOs and exchange licenses
20.10.2021
The committee recommended more clarity for DAOs, new capital gains tax provisions, and tax breaks for green miners
The ‘Holding Billionaires Accountable’ Lie — Media, Big Tech Fact Checkers Mischaracterize Angst Toward Biden’s Tax Proposal
17.10.2021
U.S. citizens and financial institutions are concerned about the Biden administration’s goals to get banks to report to the Internal Revenue Service (IRS) aggregate inflows from a customer’s bank account annually that exceed $600. Mainstream media is reporting and Big Tech’s...
Crypto Firm Owners Plead Guilty to Tax Evasion, Face up to 5 Years in Prison
14.10.2021
The owners of a cryptocurrency firm that raised approximately $24 million from more than 13,000 investors have pleaded guilty to tax evasion. “These crypto-savvy defendants exploited an emerging technology, lying to their investors, pocketing the proceeds, and concealing the income from...
Paid Millions to Hide Trillions: Meet Crime Enablers In Traditional Finance
10.10.2021
llicit wealth. The people who don’t get mentioned as much in the media coverage of the Pandora Papers, however, are the enablers devoted to helping the richest people in the world get richer and to pass on their wealth while avoiding or evading taxes. These enablers help criminals and kleptoc
Janet Yellen Defends Tax Compliance Agenda — 3 State Treasurers Promise Not to Comply
6.10.2021
The 78th United States secretary of the treasury, Janet Yellen, is very concerned about tax evasion, according to statements she made during an interview with CNBC’s “Squawk Box” that aired on October 5. Yellen claims there’s an “enormous tax gap” and...
The infrastructure bill is hanging in the balance. What would its enactment mean for crypto?
30.9.2021
Hinging on Democrats' ability to resolve intraparty disagreements, the controversial legislation could have tangible consequences for digital finance in the U.S. and beyond — if passed by the House today
Crypto tax 'a top enforcement priority,' reminds IRS commissioner
28.9.2021
IRS Commissioner says crypto gains are taxable in the cannabis industry as the IRS treats cryptocurrencies as property
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...
US Lawmakers Propose to Subject Cryptocurrencies to Wash Sale Rule
17.9.2021
A committee of the U.S. House of Representatives has proposed to subject cryptocurrencies to the “wash sale” rule. Since cryptocurrencies are treated as property by the Internal Revenue Service (IRS), they are currently not subject to the wash sale rule. This proposal attempts...
South Korean lawmaker: Delaying tax laws on crypto is 'inevitable'
16.9.2021
“In a situation where the relevant taxation infrastructure is not sufficiently established, the deferral of taxation on virtual assets is not an option, but an inevitable situation,” said Noh Woong-rae
IRS, Janet Yellen Press Lawmakers to Push ‘Tax Compliance Agenda’ — Banks to Report Deposits, Withdrawals of $600
16.9.2021
On Wednesday, U.S. Internal Revenue Service (IRS) commissioner Charles Rettig and Janet Yellen, the Treasury secretary, urged lawmakers to give the IRS permission to report annual inflows and outflows from American bank accounts. Regardless of tax liability, financial institutions across...
US lawmakers propose adding digital assets to 'wash sale' rule and raising capital gains tax
13.9.2021
If passed, the plan would raise the capital gains tax rate for "certain high income individuals" to 28.8%, while eliminating the "wash sale" loophole for crypto users
Bitcoin investors are reportedly exempt from taxes in El Salvador
13.9.2021
El Salvador is looking to attract foreign investment by adopting major tax breaks on Bitcoin trading
Lawmaker Presents Bill to Regulate Cryptocurrencies in Panama
10.9.2021
A Panamanian lawmaker has introduced a bill to regulate cryptocurrencies in the National Assembly. Among the proposals in the bill is the legalization of cryptocurrencies, like bitcoin and ethereum, as a means of payment, including for paying taxes. Proposed Crypto Law Will ‘Give Legal...
Russian Duma wants to regulate crypto mining as business
9.9.2021
Russia is moving to regulate cryptocurrency mining after legitimizing the broader crypto industry in January
Law Project Establishes Period to Decide Cryptocurrency Regulations in Brazil
4.9.2021
A law project introduced in June in the National Congress of Brazil has jumped into the spotlight recently because it establishes a fixed period for the executive to start regulating cryptocurrency transactions. If approved, the proposal will establish the payment of taxes for cryptocurrency-based...