US Treasury And IRS Propose Regulations On Bitcoin & Crypto Transactions By Brokers

The proposed rules require brokers of digital assets to adhere to stringent tax reporting standards.

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How to use tax planning strategies for maximum savings

Learn how to navigate tax laws and regulations for optimal financial management.

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Israeli crypto bill aims to clarify regulations and attract foreign investors with new tax incentives

On July 5, the Israeli  Knesset approved the preliminary reading of bill that aims to introduce various tax benefits related to digital currencies in an effort to attract foreign investment. The proposed legislation also seeks to provide regulatory clarity for the crypto industry.

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U.S. Lawmakers Urge IRS, Treasury to Hurry Crypto Tax Rules

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.

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EU Finance Ministers Give Approval, Bringing EU’s Crypto Legal Framework Closer to Becoming Law

EU Council Gives Final Approval to Landmark Crypto Regulations and Data Sharing Law The European Union’s (EU) finance ministers have granted final approval to groundbreaking regulations governing the crypto industry, while also agreeing on a new law for sharing data on cryptocurrency tax holdings.

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Kazakhstan’s Bitcoin mining industry has several challenges ahead

In May 2023, Kazakhstan’s share of the global Bitcoin mining hashrate stood at 4%, down from its peak of 18% in October 2021. Kazakhstan’s mining industry boomed between 2020 and 2021, driven by cheap electricity, hosting demand, access to cheap Chinese machines, relaxed regulations, and tax benefits, according to a Hashrate Index report.

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Kenya introduces 1.5% tax to crypto companies

Kenya announced that it would imply a 1. 5% tax to all commissions foreign crypto companies earn from their customers, according to a report by Business Daily Africa from Apr. 25. The new regulations include all foreign crypto exchanges that earn interest from facilitating buying and selling transactions of digital assets in Kenya, the Business Daily […] The post Kenya introduces 1.

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Is transferring crypto between wallets taxable?

Do you have to pay taxes when transferring cryptocurrency from one wallet to another? No, you won’t experience any tax consequences when transferring your coins between wallets. However, it’s important to note that this only applies in the US – other countries may have different taxation regulations.

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TRON praises Chinese cryptocurrency tax guidelines

Amid the announcement of new Crypto regulations by China, Tron took to twitter to express support for the move. This proves a move by Tron to tap into China's crypto markets.

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Coinledger.io Review – Is This Bitcoin Tax Calculator Legit and Safe?

While crypto fans wait for regulations to get better, it’s a real pain to file your taxes with cryptocurrency. Well, it is a hassle if you try doing it manually or with some outdated calculator.

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Crypto Tax Pushes Indian Users to Switch to Foreign Exchanges; Government Revenue Hurt

India's heavy-handed crypto tax regulations have driven users to international exchanges, according to a non-profit policy think tank report. The post Crypto Tax Pushes Indian Users to Switch to Foreign Exchanges; Government Revenue Hurt appeared first on BeInCrypto.

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New regulations in Kenya aimed at creating a tax policy for crypto

New Kenyan law seeks to introduce income tax for cryptocurrency traders, says Kenya Revenue Authority (KRA). KRA proposes laws for crypto regulations The Kenyan National Assembly has received a bill calling for regulating and taxing cryptocurrency trading in Kenya today,…

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Ukraine regulator drafting crypto tax rules

A special council has just been created in Ukraine to draft crypto taxation regulations and strengthen existing laws.

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The Australian Taxation Office Introduces Bitcoin Taxation at Capital Gains Rates

The Australian Government will impose new regulations to tax digital assets, including cryptocurrencies, on standard capital gains rates. Australian Government Derails Crypto The Australian Government has enacted new regulations concerning the taxation of fungible digital assets such as cryptocurrencies. According…

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Ethereum’s Merge Triggers Confusion Over Tax Status In The UK: Here’s How

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Japan Crypto Advocates Propose Tax Cuts to Stem Talent Exodus

Japanese cryptocurrency advocacy groups will petition the government to relax corporate tax regulations, allowing the growth of the country's digital asset industry. The post Japan Crypto Advocates Propose Tax Cuts to Stem Talent Exodus appeared first on BeInCrypto.

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South Korea postpones 20% tax on crypto gains to 2025

The delay comes just a couple of months after newly elected president Yoon Suk-yeol promised to work on regulations first.

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Argentina Seizes 1,269 Crypto Wallets Tied To Delinquent Taxpayers

When it comes to cryptocurrency, the South American country Argentina from crypto adoption to regulations, has a long list of hot topics. As well as, according to a recent news report by local media, the tax office in Argentina has confiscated more than 1,200 cryptocurrency wallets that were connected to delinquent taxpayers. The laws and […]

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Terra Market Collapse and Tax Liabilities Could Force South Korea to Rethink Regulations

South Korea's National Assembly and the government are reportedly considering stricter crypto legislation following an emergency probe into the Terra market collapse. The post Terra Market Collapse and Tax Liabilities Could Force South Korea to Rethink Regulations appeared first on BeInCrypto.

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South Korean Government Holds Off On Capital Gains Tax On The Crypto Market

When it comes to cryptocurrencies, several governments have been keen to impose taxes without providing clear regulations for consumer protection. However, it appears South Korea, under Yoon Suk-Yeol’s leadership, is gearing up to take a different approach.

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It’s almost time for India’s Cryptocurrency and NFT Tax

In April 2022, India’s proposed cryptocurrency and NFT tax will kick in, and as the world prepares for this development, what do investors and holders need to know? Crypto Regulations: The way forward The majority of governments worldwide are yet, to fully legalize or accept crypto and related technologies.

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Tax season: Regulations unclear, experts advise early prep for taxes on crypto, NFT

While the interest in crypto markets skyrocketed, the NFT craze also saw a massive surge through the last year. However, it's now time for the taxmen to check for tax liabilities from profits in theseThe post Tax season: Regulations unclear, experts advise early prep for taxes on crypto, NFT appeared first on AMBCrypto.

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How To Do Taxes on Your MetaMask Trades? Full Guide

It is the duty of every citizen to pay taxes to the government on all income generated from their various businesses. The tax is also extended to revenue generated from the financial markets.  Being a relatively newer aspect of the financial markets, the world of crypto has seen fewer regulations when compared with the stock […] The post How To Do Taxes on Your MetaMask Trades? Full Guide appeared first on CaptainAltcoin.

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‘Bitcoin Is Not A Digital Currency, People Do Not Use It’, Bank Of Canada Governor Reckons

Bank of Canada’s governor, Tiff Macklem, says Bitcoin is not a currency. Mike Novogratz agrees, but asserts that Bitcoin is “digital gold. ” Canada still considers Bitcoin to be a commodity for tax purposes and is very open to making regulations for the crypto-industry.

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Crypto Tax in Infrastructure Bill Shows Maturity But It Needs Fixes Says tZERO Chief of Legal

BeinCrypto spoke to Alan Konevsky, Chief of Legal at tZERO to talk about regulations for cryptocurrencies, especially as the space "grows up." The post Crypto Tax in Infrastructure Bill Shows Maturity But It Needs Fixes Says tZERO Chief of Legal appeared first on BeInCrypto.

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Jack Dorsey has a 'workable simplification' for crypto tax provision

The lack of regulations in the field of cryptocurrencies once again emerged as a pain point when the United States government released its proposed tax provisions, as part of the Infrastructure Bill.

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Bitcoin IRA – Everything You Need to Know

In this article, We will discuss Bitcoin IRAs, How Bitcoin IRA works, Laws and regulations, Service providers and future of Bitcoin IRAs. The tax laws in US provide for a certain advantage for working individuals to save for retirement.

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Turkey Applies Regulatory Measures to Cryptocurrency Companies

The Republic of Turkey Ministry of Treasury and Finance applies tax and cryptocurrency regulations

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Cryptowisser : Crypto Taxes Will Continue to See a Regulations Increase as Adoption Rises

PRESS RELEASE. June 2021, leading Crypto service comparison site – Cryptowisser, attempts to dissipate the cloud of confusion surrounding tax regulations on crypto currencies around the world.

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UK Crypto Taxation Guidelines Issued by Revenue and Customs Agency

The United Kingdom’s tax collection body, Her Majesty’s Revenue and Customs (HMRC) has issued a new document that explains taxation guidelines for cryptocurrency. UK Crypto Regulations The Cryptoassets Manual defines the tax rates for crypto transactions that involve businesses and companies.

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Charity’s Centralization Problem, Feat. Matthew Davie and Alpen Sheth

They call it the charitable-industrial complex: a system where money for development, for humanitarian needs and for improving the lives of billions is controlled through a top-down process, run by U.

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India: Finance Ministry Proposes Bitcoin Tax Law

Despite little progress on crypto regulations, India’s government might impose a Bitcoin tax law as part of efforts to boost national income. Crypto taxation is becoming more frequent among several countries around the world as virtual currencies continue to gain broad-based popularity.

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Russia proposes amendments to its tax law to clarify crypto regulation

The Russian Ministry of Finance intends to make amendments to its tax law in a bid to clarify regulations surrounding crypto taxation. The ministry unveiled this news on November 11 through an article, noting that the proposed changes are necessary for the implementation of the rules embedded in the law on digital financial assets and digital currencies, which the country adopted in the summer of 2020.

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Foreign Crypto Exchanges Like Paxful, Binance to Pay 1.5% Tax Under Kenya’s New Regulations

The Kenya Revenue Authority (KRA) has clarified that its planned digital service tax (DST) will be applicable to cryptocurrencies at a rate of 1. 5% on gross transaction value, local media reported.

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New Kenyan Digital Tax to Affect Crypto Platforms

Kenya Revenue Authority (KRA) has announced new regulations that compel users of digital marketplaces to pay digital tax. At a rate of 1. 5% on gross transaction value, the new tax is expected to take effect on Jan.

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Crypto tax around Ethereum staking requires a lot more clarity

The cryptocurrency world continues to lack regulations that can help it function efficiently and this has been a hurdle not just for transacting in virtual currency but also when it comes to holding iThe post Crypto tax around Ethereum staking requires a lot more clarity appeared first on AMBCrypto.

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Guide Highlights Patchwork of Crypto Tax Laws in Latin America

New research has highlighted a patchwork of laws, confused regulations and unusual concepts governing crypto taxation in Latin America.

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U.S.: 32 Crypto and Blockchain Bills Before Congress Could Shape America’s Digital Future

Crypto regulations in the United States may become clearer in the coming years as the country’s legislature is examining more than 30 bills related to the emerging digital economy. Focus on Crypto Regulation and Tax Laws According to a Forbes report, the U.

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Everything you need to know about Bitcoin IRA

In this article, We will discuss Bitcoin IRAs, Laws and regulations, Service providers and future of bitcoin IRAs. The tax laws in US provide for a certain advantage for working individuals to save for retirement.

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US taxpayers burdened with 'great crypto tax return' this tax season

Ever since cryptocurrencies gained popularity as an asset class, tax regulations surrounding it have been problematic and complex for most users. While the US has taken proactive steps to bring greateThe post US taxpayers burdened with 'great crypto tax return' this tax season appeared first on AMBCrypto.

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Brazilian Cryptocurrency Exchanges Hit Hard by Tax Regulations

Crypto exchanges based in Brazil face huge fines or being shut down

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Tax Rules Hit Brazilian Crypto Exchanges, Forcing Trading Platforms Out of Business

Tax regulations implemented even before dedicated legislation has been adopted have hit Brazilian cryptocurrency exchanges. Digital asset brokers failing to comply with the new reporting requirements face fines and the stricter rules are hurting smaller platforms, which are shutting down due to dwindling trading volumes.

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Tax Rules Hit Brazilian Crypto Exchanges, Forcing Trading Platforms Acesso Bitcoin and Latoex Out of Business

Tax regulations implemented even before dedicated legislation has been adopted have hit Brazilian cryptocurrency exchanges. Digital asset brokers failing to comply with the new reporting requirements face fines and the stricter rules are hurting smaller platforms, which are shutting down due to dwindling trading volumes.

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BTSE Crypto Exchange Moves HQ to Offshore Tax Paradise

The BTSE crypto exchange sought a new headquarters after tightening regulations in most regions sparked the search for a more lenient legal climate. BTSE Considers its Dubai Licensing as Insufficient The BTSE exchange, aiming at financial innovation, has been on the lookout for the most suitable residence.

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Regulatory Roundup: New US Crypto Tax Bill, Central Banks Join Forces on Digital Currencies

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 fund, Thailand approving a new crypto exchange, and new crypto guidelines […] The post Regulatory Roundup: New US Crypto Tax Bill, Central Banks Join Forces on Digital Currencies appeared first on Bitcoin News.

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Harsh Laws Make Bitcoin Holders Consider Renunciation or Dual Citizenship

As digital currencies become a mainstay in society, a great number of governments have enforced strict tax guidelines, severe money transmission rules, and tough regulations. Because of a few nation-states’ harsh rules against cryptos, there are individuals who plan to renounce their citizenship in order to become stateless.

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Thomson Reuters Launches Crypto Tax Tool

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.

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Congress Asks IRS to Clarify Confusing Cryptocurrency Tax Regulations

Eight members of Congress have asked the Internal Revenue Service (IRS) to clarify its position on cryptocurrency taxation. A recent letter to the agency details the issues facing the taxation of cryptocurrencies, and the lack of clarity in the current policy.

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The IRS Is on the Hunt for Cryptocurrency Tax Avoiders

Coinspeaker The IRS Is on the Hunt for Cryptocurrency Tax AvoidersWhile cryptocurrencies are continuing to gain popularity, it's high time to learn how to report your crypto gains in order to comply with IRS regulations and avoid undesirable consequences.

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