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IRS Agent Poses as Bitcoin Trader Called ‘Mr. Coins,’ Biden’s IRS Wants ‘Outflow and Inflow’ Data From Banks
2.9.2021
Over the last few weeks, Americans have read about the U.S. Internal Revenue Service (IRS) upping its tax enforcement to catch cryptocurrency users who have not paid taxes. According to one report, the IRS may get access to bank inflows and outflows via Joe Biden’s American Families Plan....
South African Tax Body Updates Crypto Tax Guidance, Confusion Persists
2.9.2021
In late August, the South African Revenue Service (SARS) released new guidelines that clarify the correct treatment of taxable crypto events. The new guidance, which was published on the revenue collector’s webpage, explains how cryptocurrency-related income should be disclosed in...
Not Legal Advice... America: The world’s most creative junkie
1.9.2021
What the United States needs is tens of billions of dollars, and the state is going to take it from the American crypto community
Slovenia Prepares to Impose 10% Tax on Spending and Selling Cryptocurrency
31.8.2021
The tax authority of Slovenia has put forward a proposal to change the crypto taxation rules in the country, local media reported. The amendments aim to introduce a 10% tax rate for transactions involving the spending or converting of cryptocurrencies into fiat money. Tax Office Wants to Simplify...
Dubai to benefit from expanding crypto market, Bittrex Global CEO says
30.8.2021
The United Arab Emirates has been cementing its presence in the digital asset industry recently with multiple efforts to further adopt blockchain-based technologies
'Don't kill crypto' billboard goes up in Alabama in advance of House tackling infrastructure
26.8.2021
"We want members of Congress to know that we'll be watching them and that we won't let them hide from their positions on this," said Evan Greer
Philippines Tax Agency Targets Axie Infinity Players — ‘It’s Taxable, Subject to Income Tax’
25.8.2021
According to a regional report, the Philippines Bureau of Internal Revenue (BIR) is focusing on the blockchain-powered game Axie Infinity over tax concerns. Finance Undersecretary Antonette Tionko explained to the press that BIR is looking into methods aimed at capturing Axie Infinity players...
Crypto language in the infrastructure bill is a political shell game, says Cointelegraph GC
18.8.2021
According to Zachary Kelman, Republicans and moderate Democrats may know the tax reporting requirements for crypto firms are impossible, but want to have a provision to fund some of the projects without raising taxes
South African Expert Says Tax-Dodging Crypto Traders Face Heightened Jail Threat
13.8.2021
A South African tax expert, Thomas Lobban, has warned non-tax paying crypto traders that they now face possible jail time if the South African Revenue Services (SARS) decides to lay tax offense charges against them. He adds that this threat of jail time similarly applies to South African crypto...
Australian crypto users will have access to tax reporting services through Crypto.com
12.8.2021
Crypto holders in the United States, Canada, and now Australia can generate tax reports using the exchange
Crypto tax startup TaxBit raises $130M in funding round, now valued at $1.3B
12.8.2021
The company said some of the funds would be used to open new offices in the United States and the United Kingdom
'We'll be back on this' — Alabama senator derails crypto amendment with two words
9.8.2021
"Who knows how much innovation we’re going to stifle, who knows what kind of new apps never emerge," said Senator Pat Toomey
Ukrainians to Trade and Spend Cryptocurrencies Legally, Digital Ministry Says
8.8.2021
Residents of Ukraine will be able to legally keep, exchange, and spend cryptocurrencies once the new virtual assets law is adopted. The legislation will comprehensively regulate the crypto space, possibly lower taxes for Ukrainians and create conditions for new services, a government official...
Crypto space weighs in on proposed amendments to US infrastructure deal
6.8.2021
Some are urging U.S.-based crypto users to contact their representatives in support of the amendment from Wyden, Lummis and Toomey
Treasury Secretary reportedly against amending crypto language in infrastructure bill
6.8.2021
Janet Yellen's position on a "compromise" amendment proposed yesterday is unclear, but she reportedly raised objections to the language on crypto put forth by Senators Wyden, Lummis, and Toomey
New Spanish bill aims to enable mortgage payments in crypto
4.8.2021
The draft bill intends to allow property owners to pay mortgages with crypto and authorize the real estate sector to use their own crypto for mortgage purchases in Spain
GOP lawmakers want Bitcoin miners to be exempted from proposed crypto taxes
3.8.2021
Republican members of Congress want assurances that Bitcoin miners and crypto software developers will not be subject to the newly proposed tax rules
Taxpayers to avoid obligations by sending mining proceeds to IRAs
29.7.2021
The IRS has considered crypto mining revenue as part of taxable income since 2014
EY aims to simplify cross-border withholding tax process with blockchain
29.7.2021
EY expects that its new blockchain-based withholding tax solution can lay a foundation for the European Commission’s withholding tax relief system
Senators add crypto taxes to infrastructure deal to raise $28B in extra revenue
29.7.2021
U.S. lawmakers believe they can find $28 billion worth of infrastructure funding by expanding taxation on crypto transactions