2023-6-6 09:15 |
In a letter addressed to Treasury Secretary Janet Yellen and IRS Commissioner Daniel Werfel, two members of Congress raised concerns about the tax compliance practices in crypto. origin »
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Kenya’s Treasury Secretary outlined the tax proposals in a document sent to parliament on 4 May, 2023. The 3% crypto tax will target cryptocurrencies and NFT transfers on exchanges and by individuals.
2023-5-5 14:25 | |
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Kenya's Finance Ministry, the National Treasury, has proposed a 3% tax on the transfer of digital assets for the coming budget year.
2023-5-5 03:20 | |
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UK’s HM Treasury has outlined tax policy changes targeted at DeFi lending and staking. The proposals are part of a consultation on taxation of activities conducted using crypto assets in DeFi.
2023-4-27 20:20 | |
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As the Treasury General Account (TGA) plummets at an alarming rate, losing $130 billion this month alone, the U. S. government faces a ticking financial time bomb. With only $87 billion left in the account and tax receipts unable to keep up with the spending spree, potential consequences are looming.
2023-4-17 15:32 | |
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The UK is increasing its oversight concerning cryptocurrencies and matters of taxation, this time adding a separate category for digital assets in the tax forms. The changes by His Majesty’s Treasury – expected to be included in the tax period 2024-25 in the self-assessment tax forms – require that the amounts concerning crypto assets be […]
2023-3-20 22:25 | |
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Taxpayers will have to record their crypto gains separately as of next year, the U.K. Treasury said.
2023-3-16 17:07 | |
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The U.S. Treasury Department has proposed an excise tax of 30% on the cost of powering crypto mining facilities. The tax is set to be imposed on companies such as Litecoin (LTC), Avalanche (AVAX), and TMS Network (TMSN) that use computing resources to mine cryptocurrencies in an attempt to lower the overall number of mining […]
2023-3-14 09:49 | |
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A provision in the department’s “Greenbook,” its list of tax proposals and explanations for U.S. President Joe Biden’s budget proposal, would create a phased-in excise tax based on the costs of the electricity used in crypto mining, imposed on the companies “using computing resources” to mine cryptocurrencies.
2023-3-10 02:02 | |
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The U.K.'s HM Treasury posted a job advert for a head of central bank digital currency (CBDC) on Indeed on Jan. 24, 2022.
2023-1-27 21:25 | |
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MicroStrategy’s recent sale of a portion of its Bitcoin treasury holdings puts cryptocurrency tax-loss harvesting into the spotlight.
2023-1-4 14:07 | |
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The chairman of the House Financial Services Committee, who is a leading Republican, has asked the Treasury Department to postpone enforcing the crypto tax provisions of the Infrastructure Investment.
2022-12-16 14:12 | |
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U.S. Representative Patrick McHenry wrote a letter to the U.S. Treasury to delay crypto taxes. Many lawmakers this year have raised similar concerns. The United States midterm elections heldThe post United States: Incoming lawmakers move to delay key legislation to tax crypto appeared first on AMBCrypto.
2022-12-16 11:58 | |
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U.S. Republican Representative Patrick McHenry called for clarification on a “poorly” written digital asset tax provision in a letter to the Treasury.
2022-12-17 08:47 | |
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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.
2022-12-16 00:54 | |
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In its federal budget on Tuesday, Australia's Treasury reiterated a June announcement that bitcoin will not be treated as a foreign currency for tax purposes.
2022-10-26 11:47 | |
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The public has been provided with 25 days to share their opinion on the proposed legislation.
2022-9-7 11:56 | |
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The secretary of finance and planning commented on the city’s plans to put a percentage of the treasury into bitcoin. Brazil has tax breaks for bitcoin miners.
2022-7-28 06:30 | |
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Coin Center filed a lawsuit against the U.S. Treasury Department for drafting an unconstitutional amendment to the infrastructure bill. The post Coin Center Sues U.S. Treasury and IRS Over ‘Unconstitutional’ Tax Reporting Rule appeared first on BeInCrypto.
2022-6-12 21:43 | |
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Crypto think tank Coin Center filed a suit against the U.S. Treasury Department and Internal Revenue Service on Friday, claiming a crypto tax reporting requirement enshrined in a 2021 infrastructure law is "unconstitutional."
2022-6-12 04:57 | |
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Crypto think tank Coin Center filed a suit against the U.S. Treasury Department and Internal Revenue Service on Friday, claiming a crypto tax reporting requirement enshrined in a 2021 infrastructure law is "unconstitutional."
2022-6-11 04:57 | |
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Treasury Secretary Janet Yellen has proposed a tax on unrealized capital gains. Speaking on CNN’s “State of the Union” over the weekend, Yellen said this new tax would be levied on the very wealthy.
2021-10-26 18:41 | |
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The United States Treasury Secretary Janet Yellen has announced the proposal of a new tax that could hit unrealized capital gains The post U.S. Treasury Secretary Wants to Tax Unrealized Crypto Gains appeared first on BeInCrypto.
2021-10-25 08:56 | |
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The Treasury Department is looking to add more crypto reporting requirements in the reconciliation bill. On the one hand, the Treasury wants to introduce more rules for cryptocurrency transaction reporting; on the other hand, the officials of the department have been telling media that the crypto community’s fear about tax provision in the $1 trillion […] The post Treasury Seeking More Crypto Reporting Requirements, Global Data-Sharing, in Reconciliation Package first appeared on BitcoinExchangeGuide.
2021-8-31 17:05 | |
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While the Treasury Department yet again tries to assuage the crypto community’s concerns, Jerry Brito of CoinCenter says there’s “little comfort” in it. The post US Treasury says Crypto Community’s Fear About Tax Provision in the Infrastructure Bill is Unwarranted first appeared on BitcoinExchangeGuide.
2021-8-25 16:37 | |
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Speaking on condition of anonymity, an official has reportedly told Bloomberg that the Treasury Department is planning to clarify the definition of “broker” in the recently passed infrastructure bill.
2021-8-16 01:37 | |
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The US Treasury Department is set to clarify what exactly entails “broker” for the purpose of reporting to the Internal Revenue Service after the crypto tax provision of the controversial $1 trillion bipartisan infrastructure bill was passed in its original form that overreaches to cover miners, developers, stakers, and validators to report information on clients […] The post US Treasury to Ease Crypto Concerns by Clarifying A ‘Broker’ Doesn’t Include Those Without Transaction Data: Report first appeared on BitcoinExchangeGuide.
2021-8-14 16:44 | |
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The controversial bipartisan infrastructure bill with its crypto tax provision gained new supporters in the form of Tesla CEO Elon Musk, who tweeted early on Saturday, “This is not the time to pick technology winners or losers in cryptocurrency technology.
2021-8-9 02:11 | |
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U.S. Treasury Secretary Janet is reportedly opposing the Toomey-Wyden-Lummis amendment to the much-talked-about provision in the infrastructure bill
2021-8-6 15:57 | |
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Written by a Professor of Finance from Yale School of Management and an attorney at the Federal Reserve System, wants regulators to take a lesson from history, the Free Banking Era because the central bank must have a “monopoly on money issuance.
2021-7-20 16:07 | |
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The Republic of Turkey Ministry of Treasury and Finance applies tax and cryptocurrency regulations
2021-7-13 16:41 | |
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The United States Department of Treasury has published the “General Explanations of the Administration’s Fiscal Year” as President Joe Biden released his Budget for 2022. In its document, the Treasury claims that tax evasion using crypto assets is a “rapidly growing problem”.
2021-5-30 21:03 | |
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While the crypto market is waiting for direction, Janet Yellen calls for more funding to run her agency and improve tax collection, while the proposed budget for the next fiscal year will bring US federal spending to the highest sustained level since World War II.
2021-5-27 20:21 | |
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The new American Families Plan Tax Compliance Agenda would go into effect in 2023, the agency wants crypto businesses to report transactions in excess of $10,000. Just like they report Cash transactions in excess of $10k The post US Treasury Wants k Crypto Transactions Reported; Likely to Rise In ‘Importance in the Next Decade’ first appeared on BitcoinExchangeGuide.
2021-5-21 16:36 | |
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The U.S. Treasury Department plans to raise an additional $700 billion through the new tax compliance measures. The post US Treasury Plans to Raise Additional $700B Through New Tax Compliance Measures appeared first on BeInCrypto.
2021-5-21 23:00 | |
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As part of President Joe Biden’s new tax enforcement measure, the US Department of Treasury has introduced legislation to combat tax evasion involving cryptocurrencies. Treasury Proposes Measures To Prevent Crypto-Tax Evasion The U.
2021-5-21 22:19 | |
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The U.S. Department of the Treasury has announced measures to crack down on tax evasion involving cryptocurrencies as part of President Joe Biden’s proposed tax compliance measures. Among the measures is a requirement for businesses that receive crypto assets with a fair market value of more than $10,000 to report transactions to the IRS. Treasury […]
2021-5-20 20:32 | |
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A Treasury report says that all crypto transactions over $10,000 have to be reported to the IRS
2021-5-21 19:19 | |
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The online marketplace company also posted a larger quarterly loss, hit by a higher tax bill. Meanwhile, its fintech arm, Mercado Pago, reported a surge of 81. 8% in total payment volume during the pandemic.
2021-5-7 17:26 | |
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Back in mid-February, Bitcoin.com News reported on Miami’s Mayor Francis Suarez supporting the idea of the city holding bitcoin in the treasury and allowing tax payments in bitcoin as well. On April 15, 2021, reports show that the city may introduce the tax payments concept soon, as the District 8 county commissioner Danielle Cohen Higgins […]
2021-4-17 02:30 | |
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The U. S. city of Miami is going full bitcoin. The city commissioners have voted to support the mayor’s resolution to allow payments in bitcoin for salaries, taxes, and fees. The city also supports efforts to make bitcoin an acceptable currency for potentially investing in the state treasury.
2021-2-13 23:10 | |
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The State Agency for Tax Administration of Spain published guidelines to reduce tax evasion for cryptocurrencies, such as bitcoin. The document is part of the general program of the so-called Annual Tax and Customs Control Plan.
2021-2-5 04:30 | |
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The world’s largest economy is looking for ways to increase revenues, including taxation of digital assets and cryptocurrencies. During a virtual interview at the OECD’s 2020 Global Blockchain Policy Forum, senior counsel at the Treasury Department, Erika Nijenhuis, stated the U.
2020-11-21 23:38 | |
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The Internal Revenue Service and the Treasury Department launched a new web tool on Friday that will allow those Americans who don't file a tax return or had too little income to file to register for stimulus payments.
2020-4-13 16:18 | |
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In this roundup, we cover numerous cryptocurrency regulatory developments in the U. S. , including President Trump’s crypto proposals, testimonies by the Federal Reserve chairman and the Treasury secretary, a crypto-friendly SEC proposal, and the IRS changing a crypto tax rule.
2020-2-18 15:10 | |
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The US Internal Revenue Service (IRS), a bureau of the Department of Treasury, recently added a question regarding cryptocurrency ownership to its standard 1040 income tax form for the upcoming tax filing season. A draft...
2019-10-13 12:37 | |
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Information regarding crypto transactions exceeding $7,600 in value must be submitted to the National Treasury.
2019-8-3 20:30 | |
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Australia is now moving forward with its proposed legislation to ban cash purchases over 10,000 AUD ($6,900) for business purposes. According to the treasury website: “The Black Economy Taskforce recommended this action to tackle tax evasion and other criminal activities.
2019-7-30 19:45 | |
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Coinspeaker U. S. Treasury Secretary: Bitcoin, Libra Pose National Security ThreatThe Treasury Department has concerns that Libra, as well as Bitcoin, could be misused by terrorist financiers and money launders, to carry out illicit activities ranging from cybercrime to tax evasion, extortion, and ransomware.
2019-7-16 11:36 | |
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Tax and Auditing firm PwC the launch of an updated auditing solution for clients who are in possession of cryptocurrency. The solution known as Halo will offer a full breakdown of the client’s crypto treasury.
2019-6-19 21:18 | |
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A “Buy Bitcoin” note, previously shown behind former Federal Reserve Chair Janet Yellen, is now drawing bids at $140,000 in an online auction. A legal pad bearing the phrase “Buy Bitcoin” is attracting bids nearing $140,000 in an online auction,…
From “The Withdrawal Issue”, Richard Greaser of The Bitcoin Bugle is on the beat as Yellen call for deregulating the banking industry and recognizes the special privilege that banks have to facilitate money laundering.
Rep. Maxine Waters gave Janet Yellen and Gary Gensler a deadline of June 30 to respond to her requests on the “Digital Asset Market Structure” bill proposed by Republican lawmakers.
Cointelegraph analyst and writer Marcel Pechman explains how a U.S. debt default could impact Bitcoin and the larger cryptocurrency market.
Janet Yellen said in an interview on March 12 that U.S. regulators are working to address Silicon Valley Bank collapse, but not considering a major bailout.
Jerome Powell said that he also had “close family members” who argued that crypto was still in the development phase, suggesting Bitcoin proponents may be close to home.