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US Judge Orders Kraken to Release Customer Data to IRS in Cryptocurrency Tax Probe
1.7.2023
Kraken, the San Francisco-headquartered digital currency exchange, has received a court order from a U.S. judge requiring the release of customer data to the Internal Revenue Service (IRS). The court filing, submitted on Friday, states that the IRS is seeking details pertaining to accounts that...
Slovakia to Lower Tax on Income From Crypto Holdings
1.7.2023
Lawmakers in Slovakia have adopted legislation that will reduce the tax burden for cryptocurrency holders in the country. Income derived from long-term investments in digital assets will also be relieved from healthcare taxes, the parliamentarians decided. Investors in Slovakia to Pay 7% Tax...
Biden Pledges to Eliminate Tax Loopholes for Crypto Traders — Vows to Make US Tax System Fair
30.6.2023
U.S. President Joe Biden has promised to make the federal tax system fair by eliminating loopholes for crypto traders and hedge fund managers. He aims to “achieve tax code fairness” by “ensuring that the burden is shared by the wealthy, super-wealthy, and large corporations while...
Slovakian parliament votes in approval of lower crypto taxes
29.6.2023
A parliamentary vote held by officials in Slovakia approved an amendment that will reduce the taxation of cryptocurrencies, which is currently on a sliding scale
Crypto Companies in Japan Get Tax Relief Under Revised Rules
26.6.2023
The tax administration of Japan has provided an exemption to companies issuing cryptocurrencies under a revision of the corporate tax rules. A local crypto media report described the move as a step toward improving the business environment for the digital asset sector in the country. Japan...
How to track and report crypto transactions for tax purposes
21.6.2023
Crypto assets are subject to tax and must be tracked and reported to the IRS. This comprehensive tax guide contains everything you need to know
Nigeria to tax crypto, digital assets 10% on capital gains: Experts react
10.6.2023
The Act aims to enhance fiscal transparency, boost revenue and recognize cryptocurrencies as legitimate assets
Intuit introduces proprietary large language models for fintech with GenOS
7.6.2023
Intuit is launching an operating system for generative artificial intelligence that will feature AI models trained on the company’s financial data
U.S. Lawmakers Urge IRS, Treasury to Hurry Crypto Tax Rules
7.6.2023
Congressmen Brad Sherman and Stephen Lynch called the crypto industry "a major source of tax evasion" in a letter asking for the prompt release of proposed regulations
Uniswap DAO rejects plan to charge LP fees; UNI holders cite tax concerns
1.6.2023
The proposal would have allowed Uniswap’s governing body to receive a percentage of the fees that currently go to liquidity providers
Does the US have a crypto ‘tax loophole’ problem?
1.6.2023
The Biden administration wanted to nix a “special tax subsidy for cryptocurrency,” but it wasn’t in the May 28 debt-ceiling bill. Another narrow escape?
Deal to avoid US debt default nixes proposed 30% crypto mining tax, says Ohio lawmaker
29.5.2023
According to Representative Warren Davidson, legislation to address the U.S. debt ceiling blocks “proposed taxes,” including a 30% tax on electricity used by crypto miners
G7 discusses crypto, supports CBDC — Law Decoded, May 15–22
22.5.2023
The European Council has approved updated rules that extend tax reporting requirements to include transfers of crypto assets
Ron Paul Denounces US Government ‘Deceptions’ on Inflation; Mentions Federal Reserve Involvement
22.5.2023
Ron Paul, a former congressman from Texas and former U.S. presidential candidate, has reflected on how the U.S. government is handling inflation and how it has been deceitful on the issue. Paul believes that if the U.S. government were to really point to the root of the inflation problem, it would...
Biden won't accept debt deal protecting crypto traders — G7
21.5.2023
U.S. President Joe Biden expressed opposition to a debt ceiling deal that would allegedly benefit crypto traders
President Biden’s Crypto Mining Tax “Isn’t Going To Happen,” Sen. Lummis Says
19.5.2023
US Sen. Cynthia Lummis is not a fan of President Biden’s proposed 30 percent tax on cryptocurrency miners.
“That isn't going to happen,” the Wyoming Republican and crypto enthusiast, said on Friday at Bitcoin 2023 Conference in Miami.
There are environmental benefits including “not venting...
Updated European tax directive requires reporting on all crypto asset transfers
16.5.2023
DAC8 extends tax reporting procedures to crypto transfers in line with the OECD crypto reporting framework and EU AML rules
Russian Companies ‘Actively’ Using Crypto, Russia to Adopt 4 Relevant Laws, Official Says
14.5.2023
Russian lawmakers intend to soon approve four bills designed to regulate various aspects of cryptocurrencies, a high-ranking member of the Russian parliament announced. Meanwhile, Russian companies are already using digital assets in cross-border settlements, the official noted. Russian Legislature...
Bitcoin takes flight in Liechtenstein: Minister proposes government services paid in crypto
8.5.2023
Prime Minister Daniel Risch of Liechtenstein told local papers that Bitcoin is set to play a growing role in government services payments
Crypto Miners Pay Kazakhstan $7 Million in Taxes Amid Uncertain Future for Sector
6.5.2023
The government of Kazakhstan has collected over $7 million in taxes this and last year from enterprises mining cryptocurrency in the country. The news comes amid growing regulatory pressure that is limiting the industry’s access to low-cost energy while increasing its tax burden. Miners Face Higher...