Category: Taxation

Ukraine Unveils Roadmap to Integrate Cryptocurrencies by 2024

Ukraine Unveils Roadmap to Integrate Cryptocurrencies by 2024

Government and business representatives have produced a roadmap to transform Ukraine into a leader in cryptocurrency integration. The authors of the new strategy want to see half of Ukrainians using digital currencies by 2024. The East European nation is expected to regulate its crypto space by the end of this year. Strategy for Crypto Market […]

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Turkish Draft Law Regulating Cryptocurrencies Enters Parliament in October

Turkish Draft Law Regulating Cryptocurrencies Enters Parliament in October

The Turkish government has prepared a bill designed to implement new regulations for the country’s crypto space. The legislation, which will be filed in the parliament this fall, will introduce taxation for crypto holdings and specific capital requirements for companies operating with digital assets. New Legislation to Regulate Turkey’s Crypto Market Following in the footsteps […]

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Foreign Cryptocurrency Exchanges Could Face 18% Tax in India: Report

While India’s central bank maintains a hostile stance against local digital asset exchanges, it seems the country will look to implement a new tax for foreign trading venues, which have taken a sizeable share of the market lately. The world’s second-most populated nation continues to dabble with cryptocurrency regulations and legislations. The latest report on […]

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South Korea Seized $47M Worth of Crypto From Wealthy Tax Dodgers

The authorities of South Korea confiscated the cryptocurrency holdings of 12,000 people. The locals received charges of tax evasion, and 53 billion won or $47 million worth of BTC, ETH, and other digital assets were seized from them. The Largest Crypto Seizure for Back Taxes in Korean History Following a months-long investigation, the officials in […]

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South Korean Financial Supervisory Service Tasked With Crypto Market Oversight

South Korean Financial Supervisory Service Tasked With Crypto Market Oversight

The Financial Supervisory Service of South Korea will lead government efforts to oversee the country’s expanding cryptocurrency market. The agency has been tasked with the job after prolonged discussions over which Korean regulator should be responsible for the industry. Financial Supervisory Service Takes Responsibility for Crypto Sector in Korea It took the government months to […]

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Brazilians Who Held $1,000 in Crypto Last Year Must Report It on Tax Returns by End of May

Brazilians Who Held $1,000 in Crypto Last Year Must Report It on Tax Returns by End of May

Taxpayers in Brazil have only a couple of days left to file their annual tax returns. Investors who had more than 5,000 reals worth of cryptocurrency in 2020, a little less than $1,000, are obliged to report the funds on their income tax declarations this year. Brazilians who fail to do that on time face […]

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US Investors Now Have to Report Cryptocurrency Transactions Over $10K to the IRS

All transactions above $10,000 now have to be reported to the IRS for documentation and taxation purposes. This comes right after a major market-wide correction which saw the price of bitcoin tumbling down to $30K. IRS Doubles Down The IRS will be expanded with an $80B package aiming to increase their manpower and resources. Individuals […]

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Elon Musk Invented Bitcoin, if You Ask Half of Australians Polled by Finder

Elon Musk Invented Bitcoin, if You Ask Half of Australians Polled by Finder

Australians have been learning more and more about cryptocurrencies but it turns out some myths and misconceptions are still widespread among the general public Down Under. As a most stunning example, over half of the participants in a new poll by Finder believe Elon Musk invented the first crypto network, Bitcoin. Finder Tests Australians With […]

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Hungary to Cut Tax on Crypto Profits in Half, Down to 15%

Hungary to Cut Tax on Crypto Profits in Half, Down to 15%

The government in Budapest has put forward measures aimed at streamlining taxation and reducing the tax burden on businesses and citizens. As part of the package, Hungary plans to cut the tax levied on capital gains from cryptocurrency transactions, expecting to increase budget revenue with the move. Tax Cut to Attract Cryptocurrency Traders to Hungary […]

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