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Ohio Senator Pushes for Cryptocurrency Tax Payments With New Bill
3.10.2024
Ohio State Senator Niraj Antani has introduced a bill to legalize cryptocurrency payments for state and local taxes. Emphasizing the importance of cryptocurrency in the present economy, the bill requires Ohio to accept digital currencies like bitcoin and allows state retirement systems to invest...
Crypto Billionaire Flees London Over Offshore Tax Concerns
1.10.2024
Christian Angermayer, a billionaire crypto investor, has reportedly moved from London to Switzerland as the UK considers tightening tax policies on offshore wealth. Angermayer’s relocation signals the potential departure of other wealthy individuals fearing future tax hikes on non-domiciled...
Ohio to consider accepting crypto for tax payments and fees
30.9.2024
They tried once in 2018, but the State Board of Deposits "failed" to show any enthusiasm
Japan Plans to Review Its Crypto Rules: Bloomberg
30.9.2024
The review which will occur over the coming months could also pave the way for dedicated exchange traded funds
Bitcoin Investor Faces Prison Time for Underreporting Crypto Gains
15.9.2024
A bitcoin investor has pleaded guilty to underreporting his cryptocurrency gains, including $3.7 million from BTC sales, resulting in a tax loss to the Internal Revenue Service (IRS) of over $550,000. The Department of Justice emphasized that taxpayers must accurately report crypto transactions...
Brazilian Tax Watchdog Uses AI Tool to Identify Operations Linked to Over $180 Million in Crypto-Related Tax Fraud
10.9.2024
The Federal Revenue Service, the Brazilian tax watchdog, recently revealed that it has been using an in-house tool that leverages AI to detect money laundering and tax evasion transactions involving crypto. The tool has already been proven useful in identifying over $180 million in funds involved...
South Africa Leverages AI to Track Down Tax-Dodging Crypto Traders
6.9.2024
The South African government is tightening its grip on cryptocurrency trading. Tax authorities (SARS) are issuing tax notices and clarifying regulations, likely using AI to identify non-compliant traders. The central bank meanwhile has clarified rules for crypto purchases, allowing individuals...
Japan’s finance regulator calls for lower crypto taxes in 2025
4.9.2024
Japan's Financial Services Agency has released plans to overhaul the nation's tax code which could see the tax rate for crypto assets lowered in 2025.
New Zealand Seeks to Adopt OECD’s Crypto Asset Reporting Framework
28.8.2024
The New Zealand government has introduced a bill to implement the OECD’s Crypto Asset Reporting Framework (CARF). This framework aims to increase transparency in the crypto asset market. Effective April 1, 2026, New Zealand-based crypto-asset service providers (CASPs) must collect and report...
Thai Authorities Raid Illegal Bitcoin Mine After Power Outages Spark Resident Complaints
26.8.2024
Thai authorities successfully raided an illegal bitcoin mining operation in Ratchaburi on August 23. The raid came after residents reported frequent power outages. The bitcoin mining operation was found to be consuming electricity that the occupants of the house were not fully paying for. Bitcoin...
Campaign Advisor Says Harris Will ‘Support Policies’ Promoting Growth of Digital Currencies
22.8.2024
On Wed., Aug. 21, 2024, Bloomberg shared that Vice President Kamala Harris intends to back policies that favor digital currencies. Brian Nelson, a senior advisor for the Harris campaign, told Bloomberg in an interview that if Harris secures the presidency in November, she will “support policies...
Insiders Report Report Kamala Harris Backs Biden’s Plan to Tax Unrealized Gains
21.8.2024
As Kamala Harris eyes the presidency, reports highlight the Harris-Walz campaign’s backing of President Joe Biden’s budget proposal. This plan seeks to raise capital gains to 44.6% and introduces a 25% minimum tax on unrealized gains for Americans with over $100 million in wealth. Harris is also...
Binance’s return to India comes with $86M tax demand
20.8.2024
While Indian AML agencies have given Binance the green light to resume operations, authorities are still seeking $86 million in tax liabilities from the firm
IMF execs float raising crypto mining electricity prices by 85%
16.8.2024
A tax on the energy used by crypto miners could cut emissions by 100 million tons a year, equal to Belgium’s emissions, say two IMF executives
Senate proposal for crypto tax exemption is long overdue
13.8.2024
Four senators are fighting to exempt low-value crypto transactions from federal taxation. Congressional approval for their proposal is long overdue
IRS Unveils Overhauled Crypto Tax Form With No Address Disclosure Requirements
10.8.2024
The U.S. Internal Revenue Service (IRS) has unveiled an updated Form 1099-DA for reporting digital asset transactions, introducing key changes that may address past criticism and privacy issues. This new version, reportedly set to be partially implemented in 2025, removes several contentious...
IRS updates draft of crypto reporting form for US taxpayers
9.8.2024
The latest draft form eliminated asking US taxpayers the time of day a crypto transaction occurred and identifying the “broker type.”
Binance Hit With $87 Million Tax Bill in India
6.8.2024
Global crypto exchange Binance has received a goods and services tax (GST) bill of Rs 722 crore ($87 million) in India for non-compliance with the country’s tax regulations. This is the first instance of a cryptocurrency firm facing such scrutiny in India. A source claimed that Binance earned...
India demands $91.9M from Binance in unpaid GST taxes
6.8.2024
Binance faces a demand for nearly $92 million in unpaid GST from Indian authorities, aiming to resume operations after a previous ban
Binance Has Challenged India's $86M Tax Showcause Notice: Source
6.8.2024
Binance, the world's largest cryptocurrency exchange, has "challenged" a nearly $86 million tax notice from India's Directorate General of Goods and Services Tax Intelligence (DGGI), a person directly involved with the matter told CoinDesk