US Debt Ceiling Bill Passes After Withdrawing Crypto Tax

The US debt ceiling bill, with its critical inclusions and exclusions, marks a significant milestone in US fiscal policy. While avoiding the crypto taxation controversy, it charts a path towards future financial stability and effective governance. дальше »

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Does the US have a crypto ‘tax loophole’ problem?

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? дальше »

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Washington Ignored Crypto for Now. That’s Good for Bitcoin.

A huge tax on BTC miners didn’t make it into a deal to resolve the battle, and a separate provision might actually (unintentionally) help them. дальше »

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Pro-Bitcoin Legislation Reigns Victorious In Texas This Year As The Legislative Session Ends

In addition to the Texas bills, the latest proposed debt ceiling deal did not include the Biden Administration’s proposed 30% tax on Bitcoin miners. дальше »

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Bitcoin miners lament falling fees, but debt ceiling negotiations cut 30% tax

Key Takeaways A proposed 30% tax on crypto mining appears to have been cut as part of US debt ceiling negotiations  Decision a win for crypto miners, who are struggling amid rising hash rate and increased electricity costs  Miners also held onto Bitcoin reserves through pandemic bull market, a mistake which proved fateful When you […] The post Bitcoin miners lament falling fees, but debt ceiling negotiations cut 30% tax appeared first on CoinJournal. дальше »

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US debt ceiling deal cancels 30% bitcoin mining tax

In a significant turn of events, a tentative deal aimed at averting a US government default on its debts has brought relief to cryptocurrency miners, particularly Bitcoin miners. дальше »

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Deal to avoid US debt default nixes proposed 30% crypto mining tax, says Ohio lawmaker

According to Rep. Warren Davidson, legislation to address the U.S. debt ceiling blocks “proposed taxes,” including a 30% tax on electricity used by crypto miners. дальше »

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Is the US 30% Bitcoin mining tax dead?

In a significant turn of events, the controversial Digital Asset Mining Energy (DAME) excise tax was not included in the latest Fiscal Responsibility bill aimed at tackling the Debt Ceiling crisis. дальше »

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Latest US Debt Ceiling Proposal Strikes Out Unpopular Crypto Tax Bill

Coinspeaker Latest US Debt Ceiling Proposal Strikes Out Unpopular Crypto Tax Bill The recent US debt ceiling deal has struck out the previous crypto tax bill proposed by the Biden administration. дальше »

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Tax Attacks Won’t Kill Bitcoin: Regulators Must Learn To Accept New Technology

Calling Bitcoiners “tax evaders” or imposing arbitrary tariffs can’t stop the inevitable progression of technology. дальше »

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President Biden sets sights on crypto amidst US debt crisis

Unmasking the tensions between crypto traders, wealthy tax evaders, and the imminent financial crisis, U.S. President Joe Biden takes a firm stance against biased fiscal deals. дальше »

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Crypto traders in the lurch as U.S. President Biden opposes debt ceiling

U. S. President Joe Biden has expressed his opposition to a debt ceiling agreement. Some people have chastised the President for lumping crypto traders and tax cheats together. United States The post Crypto traders in the lurch as U. дальше »

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Is MetaMask withholding customers’ crypto for taxes? No, it’s not

The parent company behind the crypto wallet MetaMask has debunked "inaccurate" rumors that it is collecting tax on crypto transactions. дальше »

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Biden opposes agreement that could protect “tax cheats and crypto traders”

U.S. President Joe Biden expressed opposition to a proposal that could result in low taxes for crypto investors, The Hill reported on May 21. Biden wants to cut crypto tax loopholes Following a G7 summit in Hiroshima, Japan, Biden said: “I’m not going to agree to a deal that protects wealth tax cheats and crypto […] The post Biden opposes agreement that could protect “tax cheats and crypto traders” appeared first on CryptoSlate. дальше »

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Biden Criticizes Affluent Crypto Traders as U.S. Budget Discussions Resume

Wrapping up his participation in the Group of Seven (G7) forum in Japan, President Joe Biden criticized affluent tax evaders and crypto traders who he believes benefit unfairly from Republican lawmakers. дальше »

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MetaMask revamps terms of use to include a vital tax update

MetaMask, a popular Ethereum native non-custodial wallet, has updated its terms of use and now has the right to “withhold taxes where required” дальше »

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Biden won’t accept debt deal protecting crypto traders

United States President Joe Biden has expressed opposition to a debt ceiling deal that he says would benefit “wealthy tax cheats and crypto traders” while putting food assistance programs at risk. дальше »

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LUNC Burn Tax Set To Rise To 0.5% As KuCoin Proposal Receives Approval

After garnering the required votes, a major proposal has just passed in the KuCoin network. The proposal aimed at raising Terra Classic LUNC burns tax to 0. 5%.   Following the positive results, KuCoin declared increasing the LUNC network burn rate from 0. дальше »

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Bit Digital turns to Iceland as a tax haven for crypto

In response to the Biden administration's proposed crypto mining tax, Bit Digital has strategically moved a significant portion of its mining machines to Iceland and Canada. дальше »

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Small Victory for SVB Financial as Judge Orders FDIC to Return Tax Refund Checks

The Federal Deposit Insurance Corp. (FDIC) is under orders from a judge in New York to give up any tax refund checks made out to SVB Financial Group. The agency sought to keep the checks as part of its efforts to recoup costs incurred in mitigating the catastrophic failure of Silicon Valley Bank. дальше »

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KuCoin to Boost LUNC Tax Burn Rate on Terra Classic: Details

KuCoin announces new support for Terra Classic (LUNC) дальше »

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MetaMask Terms of Use Update Confuses Community; Can it ‘Withhold’ Tax?

1inch co-founder Anton Bukov brought up issues surrounding the revised tax-related terms of service for the MetaMask cryptocurrency wallet. The post MetaMask Terms of Use Update Confuses Community; Can it ‘Withhold’ Tax? appeared first on BeInCrypto. дальше »

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White House Makes Case For 30% Crypto Mining Tax, Cites Economic And Energy Factors As Key Drive Behind Policy

Digital asset miners are under the radar of authorities once again concerning energy consumption and its impact on the environment. The White House released a report focused on digital asset mining, sustainable development, and “fair” taxation in the sector. дальше »

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Updated European tax directive requires reporting on all crypto asset transfers

DAC8 extends tax reporting procedures to crypto transfers in line with the OECD crypto reporting framework and EU AML rules.

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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. дальше »

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3 Tax Strategies for Crypto Investors to Minimize Tax Exposure

The IRS deadline to report taxes for this year is now upon us. This article profiles three proven strategies for minimizing tax exposure. дальше »

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EU’s Crypto Legal Framework Inches Towards Law With Finance Ministers’ Sign-Off

The landmark Markets in Crypto Assets regulation was given final approval by the EU’s Council, which also agreed a new law for sharing data on crypto tax holdings. дальше »

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EU Crypto Tax Plans Include NFTs, Foreign Companies, Draft Text Shows

Laws set to be agreed next week would require crypto companies to register with tax authorities, even if they’re based outside the bloc or offering non-fungible tokens. дальше »

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The White House’s Bitcoin Mining Tax Undermines Itself

Imposing a levy on mining in the U.S. will send the industry overseas, increasing emissions while depriving the grid of a useful form of “demand response,” says Nic Carter. дальше »

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IRS Asserts First Dibs On FTX Bankruptcy Payout To Recover $44 Billion In Taxes

The US Internal Revenue Service (IRS) has filed tax claims in the FTX bankruptcy as the defunct exchange’s creditors seek fund reimbursement. This recent report shows the IRS filed dues of $44 billion in taxes associated with FTX and its subsidiaries. дальше »

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IRS claims $44b in taxes from bankrupt FTX and its subsidiaries

The IRS filed $44 billion in claims against bankrupt cryptocurrency exchange FTX and its subsidiaries over alleged tax reporting malpractices. дальше »

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IRS Claims Priority Over FTX Bankruptcy Creditors to Retrieve $44B in Taxes

The IRS is asserting priority over FTX creditors in the bankruptcy case based on a circulating tax bill associated with Alameda Research. The post IRS Claims Priority Over FTX Bankruptcy Creditors to Retrieve $44B in Taxes appeared first on BeInCrypto. дальше »

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EU to Crack Down on Crypto Tax Evasion with Greater Surveillance: Impending Legislation

The European Commission is making progress toward an EU-wide agreement, called the Directive on Administrative Cooperation (DAC8), to curb tax evasion and better track crypto transactions within EU borders. Building... дальше »

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EU makes progress on plan to share cryptocurrency tax data

The EU's Digital Finance Package proposal, known as DAC8, has recommended that crypto asset service providers report their clients' transactions to help combat tax-related criminal activities. дальше »

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Crypto tax liability reduction strategies may be changing in US

Glassnode has revealed some effective strategies that could enable crypto investors to minimize their tax liability, including relocation, self-directed Individual Retirement Accounts (IRAs), and tax loss harvesting. дальше »

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Biden’s proposed $18b crypto tax leaves unanswered questions

The president of the United States, Joe Biden, recently claimed that the government is losing $18 billion due to cryptocurrency tax loopholes.  дальше »

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New Rules on Sharing Crypto Tax Data ‘Unanimously Supported’ by EU Members

Officials are optimistic finance ministers will formally agree on laws allowing the sharing of information on crypto and NFT holdings between tax authorities next week. дальше »

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Biden calls for end to tax loopholes that benefit ‘wealthy crypto investors’

U. S. President Joe Biden called for an end to unspecified crypto tax rules on May 9. On Twitter, Biden posted an infographic that read: “We think Congress should cut tax loopholes that help wealthy crypto investors. дальше »

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South Korean lawmaker allegedly cashed out while legislating on crypto: Report

National Assembly member Kim Nam-kuk had authority in handling laws related to digital assets in South Korea, reportedly backing a bill proposing a 20% crypto gains tax be deferred. дальше »

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UK Tax Authorities Consider Seizing Crypto From Businesses 

The UK's HMRC may get powers to seize digital assets from crypto exchanges.

The post UK Tax Authorities Consider Seizing Crypto From Businesses  appeared first on BeInCrypto.

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Crypto miner migration could give Russia control over 18% of bitcoin hashrate

Russian analysts predict that increasing regulatory pressure, energy costs and tax burden, in countries such as the U.S. and Kazakhstan could lead to a new migration of crypto miners. дальше »

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Crypto Firms’ Plans To Leave The US Speak Imminent Doom, Says Tim Draper

The United States is gradually becoming too hot for crypto firms to operate due to unclear and stringent regulatory approaches. For instance, a recent development that sparked an outcry was the proposal to impose a 30% excise tax on crypto-mining facilities. дальше »

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Kennedy Jr. is against Biden’s crypto tax plan, raises privacy concerns about CBDCs

Robert Kennedy Jr. has spoken out against President Biden's proposed 30% tax on cryptocurrency mining дальше »

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Will Biden’s plan to tax crypto mining reduce emissions? Critics say no

The tax is intended to reduce greenhouse gas emissions, electricity costs and local environmental pollution, but has not been kindly received by the crypto community. дальше »

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Environmental lawyer weighs in on crypto mining and taxation proposal

Robert F. Kennedy Jr. engages in a discussion about the sustainability of cryptocurrency mining, the need for a diverse ecosystem of currencies, and the potential consequences of the proposed 30% tax. дальше »

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Kenya eyes 3% tax on cryptocurrency transfers

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. дальше »

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Kenya proposes bill to tax crypto and NFT transfers

Kenya's lawmakers are considering the introduction of a new bill that would impose a tax on cryptocurrency and non-fungible token (NFT) transfers, as well as monetized online content. дальше »

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Kenya considers tax on crypto, NFT transfers and online influencers

A bill introduced in Kenya could see a tax added to cryptocurrency and NFT transfers and has been met with a mixed reaction online. дальше »

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3% Tax on Crypto Transfers Part of Kenya's Proposed Budget: Bloomberg

Kenya's Finance Ministry, the National Treasury, has proposed a 3% tax on the transfer of digital assets for the coming budget year. дальше »

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Presidential candidate Robert Kennedy Jr condemns Biden administration for its anti-crypto stance

Presidential candidate Robert Kennedy Jr criticized the Biden administration for proposing 30% tax on miners Kennedy accused the administration of using the environmental argument as a pretextThe post Presidential candidate Robert Kennedy Jr condemns Biden administration for its anti-crypto stance appeared first on AMBCrypto. дальше »

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