As the adage goes, there are two certainties in life: death and taxes. For any U.S. bitcoiners considering wriggling out of the latter, that task just got a little harder. The country’s Internal Revenue Service has revealed that it’s bolstering its armory to make it easier to track down...
Reports have indicated that some investors are relocating in search of alternative taxation regimes in order to avoid heavy capital gains taxes. Japan currently taxes capital gains on profits derived through virtual currency trading at between 15% and 55%. Also Read: India’s Tax Department Issues Notices to 100,000 Crypto Investors Japanese Crypto...
An Indian tax official has said that gains from cryptocurrency investment are subject to tax liability and that it will seek those trying to avoid paying up.During an event on Tuesday this week, Sushil Chandra, chairman of India's Central Board of Direct Tax (CBDT) confirmed that around 100,000 notices...
The number of blockchain bills before the Arizona state legislature is growing, public records show.Arizona state representative Jeff Weninger introduced two measures focused on the tech last week, including one that would begin laying down ar regulatory framework for initial coin offerings (ICOs) conducted in the state.Two new bills...
Cryptocurrency enthusiasts have proved quite charitable, at least as far as Fidelity Charitable is concerned.Announced today, the global charity revealed it has received $69 million in cryptocurrency donations in 2017, making it the fastest-growing asset type accepted by the firm. According to Fidelity Charitable's annual report, the funds, which...
Cryptocurrency law can be maddeningly vague. From taxation to commodities, the US constitution is characterized by ill-defined and occasionally contradictory statutes regarding digital currencies. Law reform moves at a glacial pace, leaving the status of cryptocurrencies often unlegislated. For cryptocurrency users trying to navigate murky legal waters, this ambiguity...
There's a handful of initial coin offering (ICO) issuers working out of Tel Aviv, Israel, but they typically domicile elsewhere.That's not particularly helpful for the government since it loses out, not only on tax revenue, but also opportunities to market Israel as a place to do business.And according to...
More than 100,000 South Korea residents have signed petitions asking the government there to step back from any plans to close the country's cryptocurrency exchanges.Earlier this week, the South Korean Justice Ministry announced that it was preparing legislation to close the country's online exchanges amid a speculative boom in...
New reports suggest that the South Korean government is intensifying its moves against the country's bitcoin exchanges.Reuters reported tonight that Bithumb and Coinone were raided by police and tax office officials on Wednesday and Thursday. Citing employees of the two exchanges, which are among the largest in South Korea, the...
As the cryptocurrency economy’s market capitalization surpasses $320Bn, lots of digital asset proponents are trying to figure out ways to write off capital gains and stay tax compliant. This week the cryptocurrency and blockchain accounting firm, Libra, has launched a new compliance application for market makers and exchanges. Additionally,...