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Australian Tax Office says it can't rely on crypto users' own records
26.11.2021
“Our main concern is that many taxpayers believe their cryptocurrency gains are tax-free or only taxable when the holdings are cashed back into Australian dollars,” said the ATO commissioner
South Korean Parliament Tries to Push Through Crypto Tax Delay, Gov’t Fights Back
26.11.2021
The South Korean government is on a collision course with lawmakers on both sides of the National Assembly on the issue of crypto tax.
The matter has become a political hot potato – or perhaps more accurately, a political hot mess – in recent months. ...
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Mixed messages on crypto tax rules create confusion in South Korea
24.11.2021
Government officials waffling about the crypto tax that's set to come into effect in 2022 has created a maelstrom of conflicting reports that even officials can’t seem to keep track of
Crypto can erode tax base, Russia's tax boss says
22.11.2021
The Russian State Duma approved a bill on crypto taxation in early 2021 but the bill has yet to move any further
'We are the number two crypto miner in the world, and we see practically no financial return,' says Kazakhstan President Tokayev
19.11.2021
In addition to calling for greater regulation in the cryptocurrency industry, President Tokayez contemplated the introduction of a digital Kazakhstani tenge
IRS Warning: The Taxman Cometh – For 'Billions of Dollars' Worth of Crypto
19.11.2021
America’s central tax body, the Internal Revenue Service (IRS) has stated that it expects crypto worth billions of dollars could be seized again next year.
Bloomberg quoted the IRS Criminal Investigation Chief Jim Lee as stating:
“I expect a trend of crypto seizures to continue as we move...
Argentina U-Turns On Crypto Tax With New Regulation
18.11.2021
In an abrupt U-turn on an earlier stance adopted by the country’s authorities, the Argentinian government has released a decree that imposes a tax on credits and debts on transactions involving cryptoassets. The regulation was published on November 17, and the measures entered into force on...
Lawmakers push back on crypto provisions in Infrastructure Bill
18.11.2021
The latest proposal from a group of House Democrats seeks to change how updates to the tax code affect crypto entities “who do not engage in brokerage services.”
US Infra Act: Cryptoverse Says the Fight Isn’t Over, But Things Could Get ‘Messy’
16.11.2021
Crypto advocates have vowed to keep fighting the controversial Infrastructure Investment and Jobs Act despite the fact that the United States President Joe Biden signed the act into law on Monday, leaving much-maligned “digital asset broker” status clauses intact....
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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...
Austria Plans to Tax Cryptocurrencies Like Stocks, Vows Equal Treatment
12.11.2021
As a growing number of governments are looking to tap into crypto profits, authorities in Austria have indicated their intention to tax gains from digital asset investments just like those from stocks and bonds. The move is expected to increase trust and access to cryptocurrencies. Austria to Apply...
Apple CEO Owns Bitcoin Or Ethereum, Austrian Crypto Tax + More News
9.11.2021
Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________...
Read More: Apple CEO Owns Bitcoin Or Ethereum, Austrian Crypto Tax + More News
Main S Korea’s Presidential Candidates Oppose Crypto Tax – But Gov’t Won’t Budge
9.11.2021
The long-running will-they-won’t-they saga of the South Korean government’s crypto tax plans has taken a fresh turn – after both of the leading candidates to become the next President in March 2022 said they were in favor of delaying or amending the tax....
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S Korean Regulator Says NFTs Aren’t Cryptoassets – and (Probably) Won’t Tax Them
8.11.2021
South Korea’s top financial regulator says that non-fungible tokens (NFTs) are not cryptoassets – and will likely exclude them from capital gains taxation....
Read More: S Korean Regulator Says NFTs Aren’t Cryptoassets – and (Probably) Won’t Tax Them
Congress Passes $1.2 Trillion Infrastructure Bill — Crypto Advocates Criticize Amended Broker Definition, Tax Code 6050I
7.11.2021
Congress has passed the Biden administration’s bill aimed at improving infrastructure, fighting climate change, and bolstering social services. The $1.2 trillion infrastructure bill, which also expands the definition of a broker, awaits U.S. president Joe Biden’s signature after...
House passes $1T infrastructure bill with crypto tax for Biden's approval
6.11.2021
The infrastructure bill was first proposed by the Biden administration aimed at primarily improving the national transport network and internet coverage
S Korean Gov’t Might ‘Eventually Raise the White Flag’ on Crypto Tax
5.11.2021
Pressure is growing on the South Korean government to back down over a controversial crypto tax law that will see trading profits over an annual total of USD 2,100 taxed at 20%.
Per the Segye Ilbo, the “dominant feeling” among analysts is that the ruling Democratic Party will try to force through...
Elon Musk’s Warning About Government Spending and Unrealized Gains Tax Proposal Highlights Benefits of Bitcoin
1.11.2021
A warning by Tesla and Spacex CEO Elon Musk about the mounting national debt in the U.S., government spending, and the proposal to tax unrealized capital gains has highlighted the benefits of cryptocurrencies, particularly bitcoin. Elon Musk Says ‘Spending Is the Real Problem’ Tesla...
The major tax myths about cryptocurrency debunked
30.10.2021
More crypto tax enforcement is coming, and many taxpayers are complying going forward, and amending prior returns if they have something to clean up
Fortnite Boss Slams Billionaire Tax He Doesn't Seem To Fully Understand
28.10.2021
Surprise, surprise, Epic Games founder, Tim Sweeney, is not a fan of the new billionaire tax being proposed in Congress at the moment. The CEO of the company, which prints money thanks to Fortnite, said the tax would possibly “end founder control” of Epic Games, calling into question whether...