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EU Countries Commence Crypto Regulations as Mandated by New Directive
11.1.2020
The European Union’s 5th Anti-Money Laundering Directive mandates that member states start regulating crypto assets by Jan. 10. Crypto exchanges and custodial wallet providers are now covered by the same regulatory requirements as banks and other financial institutions. Also read: Regs...
Crypto Tax Reporting Failures Can Be Expensive, Even Criminal
8.1.2020
Be careful with cryptocurrency taxes because mistakes — even accidental ones — might cost you
Regs Roundup: SEC Actions, Crypto Tax-Free in Korea, India’s National Blockchain Seminar
7.1.2020
In this roundup, we cover several crypto-related actions by the U.S. Securities and Exchange Commission (SEC) and the New York regulator’s crypto job posting. We also cover new Chinese laws, South Korea’s tax clarification, India’s blockchain education, the IMF working with...
Tax Compliance Firm TaxBit Raises $5M to Improve Crypto Tax Reporting
6.1.2020
TaxBit, a crypto-oriented tax compliance firm, has raised $5 million in a seed round that saw participation from Winklevoss Capital
Thomson Reuters Launches Crypto Tax Tool
23.12.2019
Tax authorities around the world are increasing their focus on crypto transactions and companies are rushing to help investors navigate the unclear regulations. The latest example is Thomson Reuters which has added a new tool for American tax payers to report crypto dealings to the IRS. Also Read:...
Lawmakers Want Answers From IRS, Citing Major Issues With Crypto Tax Guidance
23.12.2019
Eight lawmakers have sent a letter to the IRS seeking answers to new questions stemming from the latest crypto tax guidance. They pointed out a number of major issues including unwarranted tax liabilities for crypto users who unwillingly receive forked or airdropped coins. Also read: Regulatory...
8 Congress Reps Send Letter to IRS Urging Further Crypto Tax Clarity
20.12.2019
Eight U.S. representatives signed a letter to the IRS, asking the agency to further clarify cryptocurrency tax expectations
US Lawmakers Ask IRS to Clarify Crypto Tax Rules Around Airdrops, Forks in New Letter
20.12.2019
Congressmen are again asking the IRS for clarity on its recent cryptocurrency tax guidance
Danish Tax Agency Sends Warning Letters to Suspected Crypto Tax Evaders
10.12.2019
Denmark's tax authority, the Skattestyrelsen, has been sending letters to cryptocurrency users it suspects of tax avoidance, demanding a range of information about their trading activities
Accounting Advisor and Crypto Startup to Jointly Launch Crypto Tax Tool
10.12.2019
Crypto accounting automation startup Lukka partnered with accounting advisor CPA.com to launch a crypto tax estimation tool
If Bitcoin Price Drops — an Opportunity for Crypto Tax Planning
30.11.2019
Bitcoin price drops – last chance to reduce tax due before the end of the year
South Korean Committee Passes Bill Enforcing FATF Crypto Rules
27.11.2019
South Korea’s national policy committee has passed an amendment establishing a legal framework for cryptocurrencies. It requires crypto exchanges and service providers to register with the country’s financial regulator and comply with the recommendations set by the Financial Action Task...
How to Navigate the Minefield of Cryptocurrency Taxation
23.11.2019
National tax agencies have recently made it clear that the long arms of the law will be wielded to ensure bitcoiners pay the appropriate tax on their earnings. Motivated by surging interest in crypto, authorities are cracking the whip and instilling fear in those who have, until now, dismissed...
IRS Dispels Crypto Tax Confusion
17.11.2019
The U.S. Internal Revenue Service (IRS) has cleared up some confusion about how cryptocurrency transactions are taxed, particularly regarding like-kind exchanges and promotional airdrops. As the tax agency intensifies its enforcement efforts, more people are seeking the best tax software to help...
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...
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...
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...
5,200 Tobacco Shops in France Now Sell Bitcoin
11.10.2019
Bitcoin can now be purchased at 5,200 tobacco shops in France. Fintech startup Keplerk launched the service on Oct. 10 after halting it for many months. France’s 24,000 licensed tobacco shops have diversified into non-tobacco products to boost revenue. Also read: IRS Issues New Crypto...