Breaking: Kenyan President Ruto withdraws $2.7 billion tax hike after massive protests

Kenya’s President William Ruto on Wednesday withdrew the controversial finance bill that has sparked widespread protests and violence across the nation. The decision comes after the bill, which includes significant tax hikes, was passed by parliament but met with fierce opposition from the public and led to deadly clashes.

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‘Bitcoin Jesus’ Roger Ver Arrested, Charged With Alleged $50 Million Tax Fraud

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Sweeping U.S. Tax Proposal Met With Boos From Crypto World

An immediate burst of criticism from the crypto industry shows the U.S. Treasury Department’s new proposal on how to handle digital assets taxes will face a long road as it enters a months-long period of public comments and hearings.

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UK Crypto Tax Advisors Welcome Proposed Changes to DeFi Lending, Staking Treatment

The country’s tax authority is consulting the public on new rules it said are aimed at reducing the burden on crypto users.

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UK Crypto Tax Advisers Welcome Proposed Changes to DeFi Lending, Staking Treatment

The country’s tax authority is consulting the public on new rules it said are aimed at reducing the burden on crypto users.

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UK Tax Authority Proposes Changes to Treatment of DeFi Lending, Staking

The proposed framework, now open for public consultation, will also apply to crypto lending and staking through intermediaries, the authority said.

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IRS aims to tax NFTs in line with other collectibles

The IRS is taking steps to tax NFTs like other collectibles, proposing a new framework for public review and comment. The Internal Revenue Service (IRS) is taking steps to ensure that NFTs are taxed similarly to other collectible items. This…

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Brazil’s largest public bank Banco do Brasil enables tax payments using crypto

According to a recent statement, Banco do Brasil (BB), Brazil’s largest public bank, has enabled tax payments with cryptocurrencies. The services will however be only available via Bitfy, a specialized blockchain solutions startup in which Banco do Brasil has invested.

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Brazil's Largest Public Bank Enables Tax Payments to Be Made With Crypto

The service will operate in partnership with Bitfy, a startup focused on blockchain solutions.

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South Korea Launches Metaverse Replica of Seoul

As part of a three-year effort to expand its public services, Metaverse Seoul will allow users to take their avatars to tax offices, access youth counseling and read e-books.

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Incoming House Financial Services Committee Chair Asks Secretary Yellen to Delay Crypto Tax Provision

Rep. Patrick McHenry, the soon-to-be chair of the House Financial Services Committee, wrote a public letter to Treasury Secretary Janet Yellen asking her to delay the implementation of the tax provision in last year's infrastructure law.

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Australian Treasury consults public on Bitcoin foreign currency tax exclusion

The public has been provided with 25 days to share their opinion on the proposed legislation.

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U.K. tax authorities seek public consultation on DeFi tax treatment

United Kingdom tax authority H.M.

The post U.K. tax authorities seek public consultation on DeFi tax treatment appeared first on CryptoSlate.

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Public outcry grows louder than ever as India's 30% 'crypto tax' comes into effect

As people all around the world pull April Fool's pranks on one another, countless Indian crypto investors and entrepreneurs are hoping the Indian government is playing one on them. However, that doesnThe post Public outcry grows louder than ever as India's 30% 'crypto tax' comes into effect appeared first on AMBCrypto.

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OECD opens proposal on tax transparency framework for crypto to public comment

According to the OECD, the crypto market posed a “significant risk” around tax transparency, claiming that any gains will eventually be lost without additional safeguards.

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We are all going public: Privacy rules, tax shelters and the future history of art

Nonfungible tokens, or NFTs, exchanges will need to navigate conflicting aims for the required transparency and the desired anonymity.

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Russia Looking At $13 Billion In Tax Collections If Crypto Bill Is Approved

Russia is making a headway in finalizing its crypto bill, with the Ministry of Finance seeking the assistance of the public in improving the regulation of digital assets by middle of next month. A prior notice the ministry calls “On Digital Currency,” will expound on a public consultation to:  1 – Set regulatory rules for […]

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Thailand scraps 15% crypto capital gains tax following public backlash

The Thai Revenue Department had initially intended to tighten oversight of cryptocurrency trading after seeing substantial market growth.

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NCLA Files Appeal Against the IRS — Law Firm Claims Tax Agency Unlawfully Seizes Crypto Data of Thousands

On Friday, the public interest law firm New Civil Liberties Alliance (NCLA) filed an opening brief in the cryptocurrency case of James Harper v. Charles P. Rettig. The NCLA argues that Harper’s Fourth and Fifth Amendment constitutional rights were violated by the Internal Revenue Service (IRS).

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Argentinean Tax Body Asks Domestic Cryptocurrency Exchanges to Report Monthly Transactions and Wallet Balances

The local tax authority could soon hunt tax evaders who trade cryptocurrencies in Argentina following a notice sent to domestic crypto exchanges. The Federal Administration of Public Revenue (AFIP) ordered them to report all virtual currency-related transactions every month.

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Ripple CTO addresses tax confusion on FLR airdrop to XRP holders

FLR tokens will be airdropped to a vast majority of XRP holders in late Q2, 2021. US-based Certified Public Accountant, James Yochum, took Twitter to elaborate on how taxation norms could potentially The post Ripple CTO addresses tax confusion on FLR airdrop to XRP holders appeared first on AMBCrypto.

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Ohio senator wants clarity for crypto tax reporting in proposed bill

Senator Rob Portman said lawmakers were "still pulling in information" on crypto to formulate the bill, implying he announced it to the public prematurely.

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Ukrainian Parliament Passes Bill That Criminalizes People Who Don’t Reveal Crypto Holdings

The Ukrainian parliament is enforcing its tough stance against people who don’t disclose their cryptocurrency holdings on the tax fillings. The measure comes in the wake of a recent publication that showed alleged mistakes in declarations from public servants.

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Kentucky to Pass Bill to Incentivize Cryptocurrency Mining

Kentucky is working on two proposed laws that aim to incentivize cryptocurrency mining. According to public records, there are two bills going through the state’s legislature, one of which is focused on tax incentives, and the other centers around extending the state’s clean-energy incentives to crypto miners if they pass the investment threshold of $1 […] The post Kentucky to Pass Bill to Incentivize Cryptocurrency Mining first appeared on BitcoinExchangeGuide.

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KPMG LLP, BitGo, Inc. and Coin Metrics, Inc. launch combined offering including the debut of Coin Metrics’ FARUM™ for public blockchain networks

KPMG LLP, the audit, tax and advisory firm, BitGo, Inc and Coin Metrics Inc. have announced a combined offering and the commercial launch of Coin...

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Law Firm Warns That IRS Is Cracking Down On Coinbase Users Evading Taxes

David W. Klasing, a boutique Californian tax firm, had its Tax Law Office issue out a public release. This release warned investors that the US Internal Revenue Service, or IRS, is going to start a severe bout with users of Coinbase.

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Former Florida Tax Collector Used Public Funds for Blockchain Company

A different kind of scam.

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Venezuela Mulls Tax Payments in Its Controversial Petro Cryptocurrency

Officials in Venezuela are mulling the payment of citizen taxes using the Petro cryptocurrency despite criticisms of it not being backed by a public blockchain, as per local reports Tuesday. Taxes Paid in Crypto Coming to Venezuela The Bolivarian Council of Bolivarian Mayors and Mayors signed this Sunday the National Tax Harmonization Agreement in 305Read MoreRead More.

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Crypto Holders Still Face Issues Reporting Tax Liabilities, Survey of CPAs Finds

Certified Public Accountants familiar with crypto largely believe their clients might face audits or penalties for under-reporting holdings in past years, according to a survey.

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Messari’s Ryan Selkis Accuses Ripple of Using Tax Sheltering Scheme

Messari’s Founder Ryan Selkis published a report accusing Ripple of using its RippleWorks charity foundation as a tax shelter. A public balance sheet for fiscal year 2018 shows that the affiliated entity did not grant a single dollar to other charities, though this appears to be a nuanced matter.

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IRS Looking into Cryptocurrency ATM Operators

The Internal Revenue Service is actively looking into potential money laundering and tax evasion issues posed by Crypto ATMs, a top official said to Bloomberg. Cryptocurrency ATMs and kiosks allow users to buy and sell cryptos with cash in many locations across the world.

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nuco.cloud ICO

The nuco. cloud (short term of nubes computatrum) is a cloudbased distributed computing network developed by the Iron Eagle Capital GmbH, based on BOINC (Berkeley Open Infrastructure Network Computing), the scientific computing cloud of the University of California, Berkeley, and Gridcoin.

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Philip Morris To Track Tax Stamps Using Blockchain Technology

Megacorporation Philip Morris announced it is developing a public blockchain platform to track tax stamps on packs of cigarettes. The company is modifying Ethereum, as well as MultiChain's build-your-own-blockchain platform, to create its blockchain.

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Innisfil Becomes First City in Canada to Accept Bitcoin for Municipal Taxes

Ohio might have made history as the first city to accept cryptocurrency for corporate taxes, but one Canadian town is adding its name to the books by becoming the first in North America to permit its citizens to pay their personal taxes in bitcoin.

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Exclusive: Indian Bitcoin Users in the Dark Over Their Tax Liabilities

There is no doubt that India is among the most disoriented country when it comes to bitcoin regulations. When the Reserve Bank of India merely withdrew banking access to entities dealing in cryptocurrencies, the general public opinion misinterpreted it as an outright crypto ban.

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NODE40 improves on-boarding of cryptocurrency clients for CPAs

CryptoNinjas NODE40, the specialist blockchain accounting firm behind the Balance cryptocurrency reporting software, has unveiled a new tier for Balance designed specifically for professional accountants and tax preparers.

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New York Nears Financial Ruin as Debt Balloons Over $80,000 per Household

As public spending and debt levels in New York rise its wealthy and businesses leave, sick of high taxes. New York sits on the edge of bankruptcy. Experts warn that further exits or a national recession could push the city over the edge into all-out financial ruin.

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Stablecoin Classifications, Regulations, and Tax Implications from a Certified Public Accountant

Stablecoins are the latest innovation to emerge over the past year and have the potential to revolutionize not only virtual currency markets but to also become a new mechanism for worldwide commerce.

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Blockchain Support Group ‘Chamber of Digital Commerce’ Requests US Govt for Crypto Guidelines

Across the world, various governments have successfully implemented blockchain strategy. However, in the United States, such efforts have stalled. In 2018, the IRS was publicly criticized by a member of Congress for not creating a specific tax code for cryptocurrency.

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South Korea’s Government Adds Blockchain Research and Development to Tax-Deductible List

It has been announced that blockchain research is among the research fields that have been declared eligible for tax credit in South Korea. The news was made public by the Ministry of Strategy and Finance who also revealed that the new tax code is to list wearable robots and fine dust reduction technology among fields […]

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Why Ohio’s State Treasurer Backs Decision to Accept BTC For Tax Payments

As tax season is rapidly approaching, some states, like Ohio, have decided to set a new standard for the rest of the country to follow. Back in November, Ohio became the first state in the U.

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Op Ed: Bitcoin Is a Declaration of Our Monetary Independence

Nick Spanos is an early adopter and innovator in the blockchain space. He is best known for launching Bitcoin Center NYC, the world’s first live cryptocurrency exchange, in 2013, right next to the New York Stock Exchange — as immortalized in the Netflix documentary “Banking on Bitcoin.

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Ohio Technology Funds Announce $100M Support for Blockchain Startups

Recently, the CEO of Ohio-based nonprofit JumpStart Inc. announced that his company, along with six others, would invest vast sums of money into Ohio’s blockchain startups.

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Ohio set to become first US state to accept Bitcoin for taxes

In what could be the biggest institutional nod of approval to cryptocurrencies across the globe, Ohio is set to become the first state to accept Bitcoin for tax payments. Starting this week, Ohio businesses can pay anything from tobacco to public utilities tax on OhioCrypto.

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Report: Microsoft’s enterprise products covertly gather personal data on users

Microsoft collects and stores personal data about the behavior of individual users of its enterprise offerings on a large scale, without any public documentation — according to a new report by Privacy Company.

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Australia Warns: Fake Tax Payment Demands through Bitcoin ATMs Becoming Popular

Scammers seem to find any possible outlet to steal the cryptocurrency of investors. Twitter has been the biggest opportunity for these frauds to get through, but Australia has found that the hackers are finding a new method of tricking consumers – Bitcoin ATMs.

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Thomson Reuters Partners With Startup for Next Level Derivatives Exchange

Thomson Reuters (TR) provides trusted data and information to professionals across the legal, tax and accounting, and news and media industries. Operating in more than 100 countries, TR lists its shares on both the New York Stock Exchange (NYSE) and Toronto Stock Exchange (TSE).

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Op Ed: In Defense of Bitcoin: A Response to Nouriel Roubini

Rhetorical style should never distract from the content of someone’s arguments. So when I heard that Nouriel Roubini testified to the U. S. Senate Committee on Banking, Housing, and Urban Affairs on the cryptocurrency and blockchain ecosystem, I decided to peruse his testimony and reflect on it.

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Stackr: The Dawn of a Digital Asset Savings Solution - [BTC Media Sponsor]

Financial savings have long been the foundation of wealth and asset building. However, we are now in a time when the growing obsolescence of financial institutions has forced certain technologies out of date, created high fees, revealed structural inefficiencies and, ultimately, meant that some standard investment solutions now fail to place consumer needs first.

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