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tax

Security Laws Are Not Ready For The Digital Era4

10 Jun 23

OECD introduces tax reporting framework for crypto industry

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied The Organization for Economic Cooperation and Development (OECD) has introduced a new tax framework specifically designed for crypto. OECD unveiled its Crypto-Asset Reporting Framework (CARF) at the end of a two-day ministerial-level meeting of its council held between June 7 and […]

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30 May 23

US debt ceiling deal cancels 30% bitcoin mining tax

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied A tentative deal aimed at averting a US government default on its debts has relieved cryptocurrency miners, particularly bitcoin (BTC) ones. Ohio Representative Warren Davidson has revealed that the proposed agreement includes removing a controversial tax on the energy consumption of […]

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21 May 23

MetaMask revamps terms of use to include a vital tax update

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied MetaMask, a popular Ethereum native non-custodial wallet, has updated its terms of use and now has the right to “withhold taxes where required”. This change in their service is why the cryptocurrency community on Reddit is beginning to question ConsenSys’ decision to change their terms […]

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19 May 23

Bit Digital turns to Iceland as a tax haven for crypto

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied 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 while keeping the majority within the United States. The company’s decision to establish a presence […]

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10 May 23

EU makes progress on plan to share cryptocurrency tax data

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied The E.U.’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 such as tax evasion. This move is part of the E.U.’s effort to tighten regulations […]

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10 May 23

Crypto tax liability reduction strategies may be changing in US

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied 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, as the Biden administration gears up to address the “loophole” in wash sale rules […]

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10 May 23

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

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied The president of the United States, Joe Biden, recently claimed that the government is losing $18 billion due to cryptocurrency tax loopholes. However, there is some confusion within the industry as to the source and accuracy of this number. The proposed […]

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06 May 23

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

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Robert Kennedy Jr. has spoken out against President Biden’s proposed 30% tax on cryptocurrency mining, emphasizing the importance of financial privacy and the need to support innovation within the crypto industry. Recently, Robert Kennedy Jr. voiced his disapproval of President Biden’s […]

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05 May 23

Kenya proposes bill to tax crypto and NFT transfers

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Kenya’s lawmakers are considering introducing a new bill that would impose a tax on cryptocurrency and non-fungible token (NFT) transfers and monetized online content. On May 4, The Finance Bill 2023 was presented to the Kenyan parliament proposing the creation of […]

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03 May 23

White House advisers rekindle 30% energy tax on digital mining notion

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied To mitigate the purportedly negative effects of the cryptocurrency mining business on the environment, Joe Biden’s administration has rekindled its support for imposing a 30% digital asset mining energy (DAME) tax on cryptocurrency miners. The announcement was made for the first […]

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