Wednesday, March 20, 2019
Popular cryptocurrency exchange Coinbase has been forced by court order to hand over thousands and thousands of its customers’ names and assorted personal information to the US Internal Revenue Service (IRS) in the agency’s effort to collect tax.    Also read: How To Regain Control From Nanny Zuck Coinbase Sends Out IRS...
The Indian tax authority has sent notices to cryptocurrency investors after discovering that some crypto investments are not reflected on tax returns. The government conducted a survey of crypto trading at the country’s 9 exchanges and found that more than $3.5 billion worth of transactions were traded over a...
Proposals to introduce tax exemptions for companies using blockchain technologies and cryptocurrency have been put on the table in Spain. The ruling People’s Party is preparing new legislation that will also offer incentives to entrepreneurs raising funds through ICOs. If lawmakers adopt the amendments, investors will not be required...
The Internal Revenue Service (IRS) announced Monday that a new joint force of tax enforcement authorities will combat international and transnational tax crimes - including cybercrimes facilitated through cryptocurrencies. Tax enforcement agencies from the U.K., Australia, Canada and the Netherlands will join the IRS in forming the Joint Chiefs of Global...
The South Korean government is working on taxing cryptocurrency transactions. While the media reports that up to 24.2 percent taxes will be collected this year from crypto exchanges, the regulators say that the tax rates have not been decided. Also read: South Korean Officials Caught Trading On Insider Knowledge of Crypto Regulations What...
The Organization for Economic Co-operation and Development (OECD), a global intergovernmental body, has called for agreement on new frameworks for the taxation of emerging technologies such as cryptocurrency.In a report sent to financial ministers and central bank regulators of the G20 member countries on Tuesday, the OECD said it is looking to...
India's highest court has declined to end a ban enacted by the national central bank that bars the country's crypto exchanges from doing business with regulated financial firms. Bloomberg reported Tuesday that the Indian Supreme Court, led by Chief Justice Dipak Misra, said that the Reserve Bank of India's (RBI) prohibition...
The Internal Revenue Service (IRS) needs to establish guidelines on how Americans can report gains from hard-forked cryptocurrencies, the American Bar Association Section of Taxation said Tuesday.Section Chair Karen Hawkins wrote a letter noting that "several important developments in the cryptocurrency economy have taken place" since the IRS previously...
Cryptocurrencies are "tailor-made" for foreign powers hoping to influence American elections, a security consultant told a group of U.S. senators on Tuesday. Scott Dueweke, director of threat analysis company DarkTower, was one of several witnesses appearing before the Senate Subcommittee on Crime and Terrorism to discuss the potential use of cryptocurrencies by...
A publicly traded Canadian crypto miner has just made a $8 million bet that all bitcoin users around the world will eventually be compelled to report their transactions to the taxman, and that they will help handling this oftentimes complex process.  Also Read: Vegetables on a Blockchain ICO...