Search
Iran Issues More Than 1,000 Cryptocurrency Mining Licenses
25.1.2020
The Iranian government has reportedly issued more than 1,000 licenses for cryptocurrency mining since it began regulating the industry. A number of large mining farms have set up in the country, but high electricity tariffs have kept many small investors away. Also read: Regulatory Roundup —...
Regulatory Roundup: New US Crypto Tax Bill, Central Banks Join Forces on Digital Currencies
23.1.2020
In this roundup, we cover an exceptionally busy week for crypto regulations around the globe. We start our coverage with the U.S. Virtual Currency Tax Fairness Act of 2020, actions by the SEC, Ripple’s lawsuit, India’s supreme court hearings, Australia green-lighting a bitcoin retail...
6 Bankers Accused of Earning €30M in Bonuses From German Fraud, Tax Lawyer Out on €4M Bail
22.1.2020
Former bank employees have received bonuses worth millions of euros in an illegal trading scheme that also involved a tax lawyer, prosecutors in Frankfurt revealed this week. The case is part of multiple investigations carried out across Germany, the hardest hit country in a notorious tax fraud...
Uzbekistan Prepares Crypto Tax Exemptions, Launches Licensed Exchange
22.1.2020
A new presidential decree in Uzbekistan envisages the introduction of tax exemptions for income obtained from operations involving crypto assets. The draft document published recently also incorporates proposals for the establishment of a blockchain valley and licensing regime for cryptocurrency...
South Korea Considers 20% Crypto Tax
20.1.2020
Officials from the Ministry of Economy and Finance's income tax office have reportedly been reviewing the proposal
Chinese Blockchain-Based Mobile Payment Revolution: How Is the Biggest CO2 Polluter Becoming Leading World Solar Panels Producer
20.1.2020
China leads the blockchain-based mobile digital payment revolution, expert take
South Korea Considers Imposing a 20% Income Tax on Cryptocurrencies
20.1.2020
South Korean regulators are reportedly considering a 20% income tax on income from crypto transactions
Crypto Exchange Bithumb Takes Korean Tax Authority to Court Over $69 Million ‘Groundless’ Tax
17.1.2020
Bithumb, a major crypto exchange in South Korea, has taken the country’s tax authority to court over a “groundless” tax imposed on the exchange. Experts explain that currently there are no grounds to tax crypto transactions in South Korea and existing tax laws do not apply...
Bithumb Exchange Fighting Back Against ‘Groundless’ $69M Tax Bill
16.1.2020
The South Korea-based exchange is fighting a move by the country's tax authority to withhold over $69 million in tax on foreign cryptocurrency transactions
Regs Roundup: SEC Actions, Crypto Tax-Free in Korea, India’s National Blockchain Seminar
7.1.2020
In this roundup, we cover several crypto-related actions by the U.S. Securities and Exchange Commission (SEC) and the New York regulator’s crypto job posting. We also cover new Chinese laws, South Korea’s tax clarification, India’s blockchain education, the IMF working with...
Government Confirms Crypto Profits Not Taxable in South Korea
2.1.2020
South Korea has confirmed that income tax cannot be levied on individual investors’ profits from crypto transactions under the current tax law. The government, however, is reviewing international trends and the approaches of major countries to crypto taxation in an effort to amend...
South Korea Imposes $69M Tax Obligation on Crypto Exchange Bithumb
30.12.2019
The National Tax Service of South Korea (NTS) has decided to withhold income tax from Bithumb’s foreign customers. The total tax to be imposed on their transactions amounts to more than 80 billion won (over $69 million), the leading Korean cryptocurrency exchange announced. Also read: Poles...
France’s Social Media Stalking Points to the Violence of Fiat, Consent of Crypto
29.12.2019
France will soon be monitoring social media accounts to catch suspected tax evaders. The endeavor could label anyone as suspicious who so much as posts a “taxation is theft” meme or a poses with a nice car. The country’s budget minister, Gérald Darmanin, called...
Thomson Reuters Launches Crypto Tax Tool
23.12.2019
Tax authorities around the world are increasing their focus on crypto transactions and companies are rushing to help investors navigate the unclear regulations. The latest example is Thomson Reuters which has added a new tool for American tax payers to report crypto dealings to the IRS. Also Read:...
Lawmakers Want Answers From IRS, Citing Major Issues With Crypto Tax Guidance
23.12.2019
Eight lawmakers have sent a letter to the IRS seeking answers to new questions stemming from the latest crypto tax guidance. They pointed out a number of major issues including unwarranted tax liabilities for crypto users who unwillingly receive forked or airdropped coins. Also read: Regulatory...
Crypto-Focused Accounting Firm Lukka Releases Tax Preparation Product
19.12.2019
Cryptocurrency accounting firm Lukka has announced a new crypto tax calculation offering for clients in the U.S
Poles Hit With Backdated Tax on Crypto Trades
16.12.2019
Crypto traders in Poland have been unpleasantly surprised with a controversial tax they thought they wouldn’t have to pay. The Civil Law Transactions Tax (PCC) is applicable to digital asset trades conducted before the introduction of last year’s moratorium on its collection, the Polish...
Regulatory Roundup: Crypto ‘Inevitable’ in India, China Rankings, NY Streamlines Policy
16.12.2019
In this regulatory roundup, we cover a positive crypto story in India, China’s year-end rankings, and the European Central Bank entering the stablecoin race. We also cover the New York regulator’s proposed Bitlicense revision — the first in five years — and several other...
Danish Tax Agency Sends Warning Letters to Suspected Crypto Tax Evaders
10.12.2019
Denmark's tax authority, the Skattestyrelsen, has been sending letters to cryptocurrency users it suspects of tax avoidance, demanding a range of information about their trading activities
IRS Now Requires Tax Filers to Disclose Crypto Activities
9.12.2019
The U.S. Internal Revenue Service (IRS) has finalized and put in use a new tax form that requires crypto owners to declare whether they received, bought, sold, exchanged, or acquired any cryptocurrencies in 2019. Tax experts are frustrated at the vagueness of the tax agency, with some questioning...