Crypto Tax
South Korean City Seizes and Sells Crypto for Unpaid Taxes
Paju City, in South Korea’s Gyeonggi Province, has announced its first-ever plan to sell cryptocurrencies held by local tax defaulters. This marks a significant step for local governments nationwide, highlighting...
South Korea Debates Raising Crypto Tax Exemption to $35,900
In South Korea, a significant development is brewing as the opposition Democratic Party of Korea (DPK) proposes raising the crypto tax exemption to 50 million won (approximately $35,900). The move...
Russia’s New Crypto Tax: 15% on Trading and Mining Income
Russia amended its crypto tax legislation, proposing a 15% tax on income from crypto asset trading and mining. This aligns with the government’s efforts to establish a balanced taxation policy...
South Korea’s Crypto Tax Decision Postponed, Uncertainty Looms
South Korea’s parliament has decided to postpone its decision on crypto asset taxation with key issues like tax scope and exemptions. In the meeting held on Nov 19, the committee...
Bitcoin Taxes Around the World: Where to Pay Zero Tax
Recent data shows that tax policies on Bitcoin sales after a one-year holding period vary significantly worldwide. Germany and El Salvador have zero tax, while Japan has a 45% tax....
UK Crypto Community at Risk as Potential Capital Gains Tax Hike Looms
A potential hike in the UK’s capital gains tax rate could negatively impact Britain’s strong five million crypto community. Policy advisor Suzanne Morsfield from CryptoUK expressed concern that raising capital...
Denmark to Become First Country to Tax Unrealized Crypto Gains
Denmark will become the first country to tax inactive gains from crypto investments. Starting 2026, Danish crypto investors may face a tax rate of up to 42% on unused capital...
Crypto Tax Comparison: Japan vs. United States
Japan and the United States have very different ways of taxing cryptocurrency. This article breaks down those differences, comparing tax rates, taxable events, and how each country classifies cryptocurrencies. Japan’s...
Japan Could Ease Crypto Taxes and Allow Token ETFs
Japan will reevaluate its cryptocurrency regulations, potentially easing taxes on digital assets and opening the door for domestic investment funds focused on tokens. According to a Bloomberg report, the Financial...
Crypto Now Safer in South Korea Thanks to This New Foundation
South Korea’s Financial Services Commission (FSC) has given the green light to a foundation designed to protect users’ crypto assets. The Digital Asset Protection Foundation will safeguard assets in the...
Interest Rate Cut vs. Inflation: The Fed’s Dilemma and Crypto’s Future
The U.S. Federal Open Market Committee (FOMC) is set to meet on September 17-18, and analysts are anticipating an interest rate cut. The CME FedWatch tool currently predicts a 31%...
Unrealized Gains Tax: How Harris’s Plan Could Hit Crypto Wallets
Kamala Harris, the current vice president of the United States and the Democratic candidate for the 2024 presidential election, faced criticism over her plans to tax unrealized capital gains. CNBC’s...
Nigeria Crypto Tax: New Regulations Coming in 2024
Nigeria’s Federal Inland Revenue Service (FIRS) is proposing new crypto regulations, aiming to streamline tax rules and tackle potential risks in the rapidly growing crypto market. The agency is seeking...
Mastering Crypto Taxes: A U.S. Taxpayer’s In-Depth Guide
Cryptocurrencies have gained increasing acceptance and use across the world. Their decentralized nature and “enclosed” ecosystem initially made it difficult to integrate crypto transactions into the mainstream. Such complications led...
From Tax Breaks to B2GC: How Thailand is Becoming a Crypto Hub
A crypto revolution is underway in Thailand, bolstered by the country’s strategic location in Southeast Asia, which makes it an appealing destination for crypto companies and investors. Beyond Thailand’s geographical...
Indian Crypto Community Left in Limbo as Union Budget 2024-25 Ignores Cryptocurrencies
The Indian government has failed to mention cryptocurrencies in the Union Budget 2024-25, leaving the crypto community in the country uncertain about the future of digital assets. Today, July 23,...
FATF Pressure Prompts Argentina’s Crypto Tax Amnesty and Regulatory Overhaul
Argentina, a haven for cryptocurrency transactions with over $85.4 billion in activity last year, is introducing a new regulatory framework aimed at both encouraging compliance and curbing illicit activities. The...
Crypto Tax Strategies: How to Minimize Your Tax Bill in 2024
Digital assets witness increased traction as countries offer favorable tax policies for crypto investors. With the surge in global crypto adoption and the recent approval of spot Bitcoin ETFs, tax...
Malaysia Launches ‘Ops Token’ to Combat Crypto Tax Evasion
Malaysian authorities have launched a crackdown on cryptocurrency-related tax evasion, conducting a nationwide operation to uncover undeclared income from digital asset transactions. The security sweep, code-named Ops Token, involved 38...
Australian Taxation Office Embarks on Crypto Scrutiny, Targets 1.2 Million Accounts
The Australian Taxation Office (ATO) is scrutinizing an estimated 1.2 million crypto-related accounts for potential tax discrepancies. According to reports, this action comes amid increasing crypto awareness in the country,...
Bitcoin Jesus Busted: Early Investor Faces $48M Tax Fraud Charges
On April 30, 2024 the federal grand jury indicted Roger Ver, an early investor in Bitcoin and known as “Bitcoin Jesus,” on charges of mail fraud and tax evasion Ver...
Indonesia and Australia Join Forces to Crack Down on Untaxed Crypto
Indonesian and Australian tax authorities have signed a new Memorandum of Understanding (MoU) to strengthen cooperation in crypto taxation. The MoU was specifically signed by the Indonesian Directorate General of...
Thailand Removes 7% VAT for Crypto Trading to Bolster Digital Economy
The Finance Ministry of Thailand has unveiled pivotal tax reforms to position Thailand as a leading digital asset hub. According to a local report, the country has waived its 7%...
Thailand Crypto Exchanges Getting Ready Ahead of Crypto Taxes Changes
Cryptocurrency exchanges in Thailand started informing customers about tax implications that may arise from their cryptocurrency trading activities in the country. This development follows a slew of recent tax policies...
South Korea Exempts Self-Custodied Crypto From Overseas Tax Reporting
Tax authorities in South Korea have excluded crypto assets stored in non-custodial and decentralized wallets from overseas financial account reporting, according to Korean crypto news outlet Digital Asset. The update...
