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Council of Europe adopts DAC8 crypto tax reporting rule
18.10.2023
The eighth iteration of the Directive on Administrative Cooperation was formally adopted by the Council of the European Union
Major Japanese Businesses Ask Gov’t to Reform Crypto Tax System
18.10.2023
Some of Japan’s biggest businesses have asked the nation’s government to make crypto tax reforms, as the country continues to pivot to Web3 and crypto.
Per an official Japan Association of New Economy (JANE) announcement, the group has submitted a tax reform proposal to Tokyo.
JANE has asked...
EU Formally Agrees on New Crypto Tax Data Sharing Rules
17.10.2023
The finalized rules, set to be published in the EU's official journal, force crypto firms to report on customers' holdings to be shared between tax authorities
7 Senators Urge Treasury and IRS to Rapidly Implement Crypto Tax Reporting Rule
13.10.2023
Seven U.S. senators have called on the Treasury Department and the Internal Revenue Service (IRS) to “implement the proposed crypto broker reporting rule as rapidly as possible.” The lawmakers stressed: “We are alarmed by the self-inflicted two-year delay for the rule’s implementation.” Senators...
Coinbase Sounds Alarm on IRS Crypto Tax Proposal
12.10.2023
As the U.S. crypto exchange called the recent IRS proposal for taxing crypto “incomprehensible,” the tax agency flagged that the industry isn’t paying its fair share
US lawmakers urge IRS to implement crypto tax reporting requirements before 2026
11.10.2023
The crypto tax reporting requirements proposed by the IRS in August are currently scheduled to go into effect in 2026 — according to 7 senators, that isn't soon enough
Indian Government Collects Over $12 Million From Crypto Taxes
11.10.2023
India’s Central Board of Direct Taxes (CBDT) has collected more than 100 crore INR ($12 million) from one percent TDS (Tax Deducted at Source) on crypto transactions in this financial year.
The Indian government had implemented one percent direct tax on all crypto transactions from July...
Hungarian Authorities Seize Crypto Worth $1M in Tax Fraud Case
23.9.2023
Hungarian authorities have seized cryptocurrency worth over $1 million from a criminal organization in a value-added tax (VAT) fraud case. The authorities raided 28 locations, arrested three suspects, and seized various assets tied to the group. The seized cryptocurrencies were transferred to...
India's Crypto Tax Relief Likely Two Years Away, Says Leading Exchange CEO
22.9.2023
India's crypto industry may have to wait for up to two years for a more lenient crypto tax regime, as per domestic exchange WazirX's CEO.
Last year, Indian authorities introduced a 1% Tax Deducted at Source (TDS) on cryptocurrency transactions, which led to a significant decline in trading...
70% of South Korean Reported Foreign Assets Are Crypto- Here’s More
20.9.2023
South Korea’s crypto adoption grows as authorities disclosed that 70% of the nation’s reported overseas assets are cryptocurrencies.
On Sept 20, The country’s National Tax Service (NTS) in an official release stated that 5,419 business and individuals reported their financial accounts with...
Thailand to Tax Overseas Earnings From Crypto Traders – Will it Impact Foreign Investment?
19.9.2023
Thailand would soon tax foreign earnings from crypto traders, a tighter measure to close the loophole, which allowed overseas income into the country tax-free.
The rule came from Thailand’s Revenue Department, which aims to fund its proposed economic stimulus, according to a BangkokPost report....
European Parliament Supports DAC8 Crypto Tax Rule by an Overwhelming Margin
14.9.2023
Lawmakers in the European Parliament have expressed support for the eighth iteration of the Directive on Administrative Cooperation (DAC8), a measure that introduces tax reporting requirements for crypto transactions.
During a plenary session held in Strasbourg, France, on September 13,...
EU parliament votes overwhelmingly in support of DAC8 crypto tax reporting rule
13.9.2023
The measure received 535 votes for with 57 against and 60 abstentions in a plenary session
Blockchain Association responds to US lawmakers’ request for crypto tax guidance
8.9.2023
Lawmakers with the U.S. Senate Financial Services Committee announced in July they would be accepting suggestions on how to tax crypto until Sept. 8
Japan Financial Regulator Moves To End “Paper Profits” Tax On Digital Assets
5.9.2023
Japan’s top financial regulator, the Financial Services Agency (FSA) has proposed key amendments to the nation's tax code relating to profits on digital assets.
According to local news outlets, the Agency’s proposal to change the tax code is in line with several calls by industry executives...
Japan Edging Toward Crypto Tax Reform
4.9.2023
Japan is moving toward crypto tax reforms, with the nation’s top financial regulator set to change the way it taxes domestic crypto firms.
Per the Japanese media outlet CoinPost and an official Financial Services Agency (FSA) release, the regulator has submitted legislation-change requests to...
US Congress Members Clash on the Potential Effect of Proposed Tax Rules on the Crypto Industry
30.8.2023
Members of the U.S. Congress have expressed concerns about the possible problems that implementing the newly proposed crypto tax reporting requirements could create in the entire industry. Patrick McHenry, Cynthia Lummis, and others reacted differently to the potential effects of these proposals...
New tax rules for crypto in the US: Law Decoded
28.8.2023
The United States Internal Revenue Service has released proposed regulations on the sale and exchange of digital assets by brokers
Crypto community reacts to Biden's proposed crypto tax reporting rules
27.8.2023
Many prominent crypto commentators are concerned that this will make crypto firms even more reluctant to do business in the United States
US Treasury Department Proposes New Reporting Requirements for Digital Asset Brokers – An Attempt to “Kill” Crypto Adoption?
25.8.2023
The US Department of the Treasury and Internal Revenue Service (IRS) on Friday released new proposed regulations that would require the brokers of digital assets to report certain sales and exchanges in an effort to crack down on tax cheats, as well as to assist law-abiding taxpayers know how much...