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Cryptocurrency News From Japan: August 2 - August 8 in Review
8.8.2020
Coincheck's CEO expressed optimism toward the company's upcoming shareholder meeting app, GMO Coin announced negative leverage trading fees and more headlined news from Japan this past week
New Kenyan Digital Tax to Affect Crypto Platforms
8.8.2020
Kenya Revenue Authority (KRA) has announced new regulations that compel users of digital marketplaces to pay digital tax. At a rate of 1.5% on gross transaction value, the new tax is expected to take effect on Jan. 1, 2021. According to a report, the KRA will create a special tax unit to track...
Kazakhstan May Tax Crypto Mining At a Flat-Rate of 15%
6.8.2020
Kazakhstan’s Ministry of the Economy wants to tax crypto mining in an effort to deal with the COVID-19 pandemic
US Congressmen Want IRS to Balance Taxation and Innovation in the Cryptocurrency Space
6.8.2020
A bipartisan quartet of US congressmen wants the IRS taxation policy not to dissuade taxpayers from participating in blockchain token staking. These politicians believe America’s ingenuity can help drive this promising staking technology. The four congressmen are Bill Foster (D) of Illinois...
Congresspeople Call on IRS to Take It Easy on Taxing Staking Rewards
4.8.2020
Several of the more crypto-forward members of Congress have asked the IRS to sharpen up its guidance on taxing staking rewards
US Lawmakers Don’t Want Proof-of-Stake Networks to Get Overtaxed
4.8.2020
Four U.S. congressmen have asked the IRS to clarify how block rewards from proof-of-state networks are taxed, to prevent taxpayers from owing more than they should
Things to Consider When Giving Crypto to Charities or Others
25.7.2020
Here are some important things to know before giving donations in cryptocurrency for charitable purposes
South Korean Police Investigate Who Leaked the Crypto Tax Bill
24.7.2020
Sejong police are investigating who leaked details of the government’s crypto tax bill before it was formally announced
South Korea to Charge 20% Tax on Bitcoin Profits Under New Law
23.7.2020
South Korea will now tax profits made from buying and selling of cryptocurrency at 20% after the government agreed to the decision on Wednesday. The decision was reached after months of debate. According to a taxation policy amendment notice released July 22, the Ministry of Economy and Finance...
Cryptocurrencies Could Undermine Obsolete Laws, Says Cybersecurity Expert
22.7.2020
According to Pavol Luptak, “cryptocurrencies or crypto markets may undermine government laws and regulations that are obsolete for the 21st digital century.”
South Korea Finalizes Cryptocurrency Income Tax of 20%
22.7.2020
South Korea has finalized a new 20% tax rate for income generated from crypto trading
IRS Sued by Ex-Coinbase User Over Seizure of Financial Records
15.7.2020
Jim Harper claims the tax collector violated his Fourth Amendment rights by seizing his crypto account records without obtaining a warrant
Advocacy Group Claims IRS-Issued Crypto-Warning Letters Violated Taxpayer’s Rights
14.7.2020
Close to a year ago last July, the U.S. Internal Revenue Service (IRS) revealed it would be sending ‘soft letters’ to suspected American cryptocurrency owners advising them to pay their taxes. Now according to the Taxpayer Advocate Service, a subsidiary of the IRS, the soft letters...
Blockchain Bites: Chainlink’s Interest, Ethereum’s ‘ReGenesis’ and Crypto Taxes
14.7.2020
Retail interest in Chainlink is booming, Ethereum may follow Cosmos on its path to upgrade and the U.K. central bank is mulling a CBDC
Even the IRS Admits Some Crypto Tax Regulations Are ‘Not Ideal’
14.7.2020
Have questions about filing your crypto taxes? CoinDesk dives into what we know (and what we don’t) about how the IRS is approaching the asset class
IRS Violated ‘Taxpayer Bill of Rights’ With 2019 Crypto Letters: Watchdog
14.7.2020
Nearly a year after the IRS sent intimidating letters to crypto holders, the agency’s watchdog says the campaign violated its Taxpayer Bill of Rights
Hodlers Can Donate Crypto to Charity to Minimize Tax Payments
14.7.2020
Donating crypto means it won’t be taxed, say The Giving Block and TAXbit, which published a guide to facilitate such donations
Crypto Taxes: Still Confused After All These Years
14.7.2020
Many tax professionals claim the recent guidance didn’t provide much clarity and created more confusion than it dispelled
South Korea Could Issue a Crypto Capital Gains Tax as High as 20%
13.7.2020
Crypto taxation in South Korea could increase to 20% for capital gains
Legal Implications of Secondary SAFT Sales, Part 2
8.7.2020
Part 2 of this series continues to cover the legal implications associated with the sale of SAFTs and focuses on taxes related to tokens