Crypto Tax
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...
Korean Firm CryptoTax Secures New Funding, Eyes New Collaboration
According to a local Korean media outlet, CryptoTax, the virtual asset tax and accounting platform operated by Korean firm Double Xsoft, has successfully secured funding in a pre-Series A investment...
India’s Central Board Of Direct Tax Report ₹700Cr in Tax From Crypto
Indian CBDT Chairperson Nitin Gupta shared that the government has garnered more than ₹700 crore in tax revenue from crypto trading. Back in August, a network linked with Parimatch was...
South Korea’s Crypto Hunt: Cheongju Moves to Seize Assets from Tax Evaders
City authorities in Cheongju, South Korea are gearing up to take decisive action against local tax evaders involved in the cryptocurrency space, as reported on August 22 by local news...
Japan’s National Tax Agency Revises Crypto Tax Rules: 30% Exemption
Japan’s National Tax Agency has recently issued a notice outlining revisions to the corporate tax rules for cryptocurrencies. This move signifies a positive step towards enhancing the business environment and...
Crypto Community Reacts to MetaMask Updated Policy on Tax Obligations
MetaMask policy stirs the crypto community as it sparks fears for decentralization. MetaMask stated that it reserves the right to withhold taxes where required. A TEDx speaker argued MetaMask included...
Crypto Influencer Faults US Govt’s $18B Crypto Tax Loopholes Claims
Influencer CryptoWendyO disputes the US government’s claims of crypto tax loopholes. The crypto enthusiast cited no clear regulatory definition of crypto yet. US President has called for Congress to close...
Crypto Tax Payment Kicks Off in India for NRIs Amid Unclarity
The Indian government introduced a Financial Act that would charge a 30% flat rate on income from Virtual Digital Assets (VDAs) transfers in 2022. This new law will reflect in...
