The crypto market faces the U.S. tax season liquidity test around the time Bitcoin’s blockchain implements the fourth mining-reward halving on April 20.
Indonesia’s Crypto Watchdog Pushes for Friendlier Taxes as Regulatory Overhaul Looms
Crypto is classified as a commodity in Indonesia and is subject to VAT and income tax.
India Keeps Stiff Taxes on Crypto as Interim-Budget Is Revealed in Election Year
India has not introduced any changes to the controversial tax deducted at source (TDS) affecting the crypto industry.
Indonesia’s Crypto Tax Revenue Falls 63% in 2023 Despite Bitcoin’s Surge
The country’s tax revenue in 2023 was substantially lower than 2022, when the tax regime was introduced.
Indonesian Crypto Exchanges Blame Dramatic Drop in Trading Volumes Partly on High Taxes
Indonesian crypto exchanges saw a sharp 60% drop in trading volumes in 2023, challenging its reputation as a fast adopter of digital assets.
India’s Local Crypto and Web3 Advocacy Body Asked for Action Against Offshore Entities: Source
The Bharat Web3 Association’s (BWA) Chairman wrote the letter to the Indian government on Dec. 16.
Vladimir Putin’s Signature Brings Digital Ruble Into Russia’s Tax Code
Russia’s digital ruble has been integrated into the nation’s tax code after its President Vladimir Putin signed the move into law.
TaxWraps: Unwrap the Financial Gift of Tokenization this Christmas
As tokenization takes hold, we propose a way to defer tax liabilities, bringing the tax efficiencies of ETFs to a wide market.
Crypto Accounting and Tax Reporting Platform TRES Raises $11M to Add New Blockchains
TRES currently services clients with combined assets worth $19 billion, helping them manage, monitor and reconcile their digital asset activity across over 100 layer-1 and layer 2-blockchain networks
IRS tax bill will swipe creditors of any ‘meaningful recovery,' says FTX
FTX Trading said the firm “never earned anything anywhere near the amount” that would justify a $24 billion tax bill.
Crypto is the ‘largest growing’ asset class in Aussie DIY pensions
Australians are increasingly adding cryptocurrency to their “self-managed super funds” as a means to secure their retirement life, according to newly released data.
Brazil to Impose 15% Tax on Crypto Earnings Held on Offshore Exchanges: Report
The bill is awaiting presidential approval.
UK Won’t Excuse Ignorance in the Hunt for Unpaid Crypto Taxes, Experts Say
The government could use a number of different ways to track down crypto tax evaders, CoinDesk was told.
UK to Hit Crypto Users With Penalties for Unpaid Taxes
The Treasury encouraged users to voluntarily disclose unpaid income or capital gains tax from crypto, NFT and utility token holdings.
Australia’s tax agency won’t clarify its confusing, ‘aggressive’ crypto rules
The Australian Tax Office’s new rules on DeFi are unclear on whether capital gains taxes apply to liquid staking and transferring to layer 2 bridges.
1 Way to Revive Dead NFT Wallets
Conceptual artist and legal scholar Brian Frye says inaccessible crypto tokens cannot be sold, but can be donated — with potentially significant tax benefits.
U.S. Lawmakers Urge Treasury to Revise Proposed Crypto Tax Rules
A letter by a bipartisan group of U.S. lawmakers has urged the U.S. Treasury to revise its proposed digital-assets taxation regime.
Australia Updates Its Capital Gains Tax Guidance to Include Wrapped Tokens and DeFi
Australia’s tax authority has clarified that its capital gains tax on crypto products also extends to wrapped tokens or token interaction with decentralized (DeFi) lending protocols.
IRS ‘Raided’ by Crypto Investors as Industry Puts Up Fight Against U.S. Tax Proposal
The U.S. Internal Revenue Service (IRS) is gathering the final words now from a crypto sector that is arguing the agency’s proposal for a digital-assets taxation regime is an existential threat to investor privacy and to decentralized crypto projects.
India’s Controversial Crypto Tax Should Be Cut After Failing to Achieve Aims, Think Tank Urges
India’s most controversial crypto tax, the 1% TDS levy deducted at source, should be lowered to 0.01%, according to the findings of a new study.